Summary In the contemporary business environment, digital procurement is becoming increasingly popular and sought after by businesses around the world. The relationships …
Sourcing and procurement consultants:
Creating resilient organisations
With the indications of a global recession looming large, an experienced procurement consultant
could make the difference in your organisation’s success.
could make the difference in your organisation’s success.
Contemporary organisations are experiencing the effects of high inflation, supply chain disruptions, capacity constraints, and more.
While none of these are new concepts, they do present a unique challenge as the world recovers from multiple crises and may generate new types of operational and financial risks that steer businesses into unfamiliar waters.
With constant change making way for new obstacles to emerge, the notion of corporate resilience has taken on renewed importance. Organisations have become highly dependent on procurement and supply chain functions that are critical to building corporate resilience as they operate as the orchestrators between a business and its suppliers.
Procurement teams will generally focus their actions on three distinct time frames, including the present, medium term, and the future to develop a more comprehensive action plan that can offer greater flexibility and success.
Another way that corporations accelerate their response to times of uncertainty is by enlisting the services of procurement consultants who have in-depth knowledge of the procurement function and the necessary skill set to help organisations protect and increase margins, improve cost savings, and drive organisational alignment.
To adequately respond to the challenges that are being faced by the current market—and any uncertainty that procurement organisations may face in the future—a much more comprehensive strategy is required to create value.
While many hail the benefits of having cross-functional collaboration, increasing visibility and breaking down silos will be much more important. Such drastic changes, however, should be done carefully with a team of professionals that understands how to revamp a procurement process that can weather the toughest of economic climates.
Failing to do so can have expensive consequences that businesses simply cannot afford at a time when cost saving is critical.
To avoid these types of errors, consultants will often suggest building infrastructures that enable the execution of several initiatives simultaneously while enhancing collaboration.
While businesses may have a team of procurement professionals working to plan for market uncertainties that are expected to remain applicable after the inflationary period is over, research shows that production processes are anticipated to be disrupted every 3.7 years on average.
Fighting the effects of inflation with sourcing and procurement consultants
In this era of uncertainty, procurement leaders have the opportunity to broaden their mandates and rethink their strategies to attain greater resilience. To fulfil these requirements, it is vital to formulate a strategy that targets the short-term and long-term operating models of the company with procurement consultants who can help promote development, preservation, and value addition.
How can Kronos Group help you navigate inflationary markets?
At Kronos Group, our procurement professionals have helped corporations in Europe and around the world train their procurement teams and implement sustainable procurement functions and strategies across a multitude of industries.
Our team of procurement consultants possesses the expertise needed to understand the changing procurement function and the demands that are associated with it. As a result, we have developed complete procurement solutions, including:
With many businesses beginning to understand the strategic importance that procurement has, the need to create strong strategies and action plans is critical.
To complement and enhance these transformations, Kronos Group has partnered with Kloepfel Group and EPSA to establish the leading pan-European procurement service provider. By integrating our collective knowledge and tools, we have placed ourselves in a unique position to help global organisations meet the demands of the current market.
Get in touch with our team of procurement professionals today and discover how we add value to your supply chain and protect you against potential threats and marketing uncertainties.
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