All posts in Procurement Function

How do you Plan to Buy in the New Normal?

Supply Chain Disruptions, Global Pandemic, Mass Layoffs, Economic Downturn, and a New Normal perspective for Supply Chain Operations. An Annual Procurement Plan is critical to efficiently and effectively manage and conduct the essential elements of today’s Procurement Mandates. In this article, we will outline the Framework for a Top-Class Annual Procurement Plan. In later segments of this work, we will…

Read more

Are your Procurement Operations Dashboarded?

Establishing a Procurement Dashboard is an excellent tool for reporting procurement performance. A Purchasing Dashboard is a single-page document that contains four charts that illustrate the performance of a procurement department. The Procurement Dashboard is designed to present procurement performance data to executive management “at a glance.” NLPA has designed the following Procurement Function Dashboard to assist practitioners in designing…

Read more

Role of the Procurement Function

Procurement Departments are created for the understanding and translation of customer needs and requirements to the selection of capable suppliers, to realize the cost-effective acquisition, receipt, and payment of vital inputs and raw materials. Factors impacting the Total Cost of Ownership such as quality, efficiencies, delays, stock-outs, obsolescence and carrying cost are heavily emphasized in the procurement discipline. Procurement Personnel must master 3 critical…

Read more