Welcome back to another installment of Whitepaper Wednesday here on the Purchasing Certification Blog. This week, I’ll be reviewing a whitepaper entitled “Too Much Savings?
9 Ways to Expand Influence, Drive Savings, and Secure Your Procurement Position” from K2 Sourcing.
As the title suggests, this whitepaper consists of nine tactics for delivering better procurement results. I won’t give them all away here, but I will comment on a few of the more significant ones. Here we go…
#1. Understand That the Purchase of Goods and Services has the Number One Impact on Profitability. The segment describing this tactic runs you through a sample calculation demonstrating how a small cost savings through good procurement can have a dramatic impact on profitability. It’s a good introduction if you’re new to procurement and never saw the correlation between savings and corporate profits.
#3. Speak with Numbers. This section encourages the procurement professional to conduct an analysis on spend currently outside of Procurement’s control and to present to the CFO an assessment of the opportunity for savings if the procurement department could get involved.
#5. Centralize Procurement – Especially Strategic Sourcing. This section discusses solving the oh-so-common problem of suppliers charging different departments and different divisions of the same company different prices.
For complete details on these three tactics as well as the other six, you can download the whitepaper from K2 Sourcing’s Web site (registration required).
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
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