Procurement plays a crucial role in ensuring that the right materials and services are obtained at the right price, quality, and time, supporting the overall success and efficiency of the business. Procurement can involve purchasing raw materials, equipment, or even outsourced services, and it works closely with other departments like finance, operations, and marketing to […]
Summary A procurement risk assessment matrix is a strategic tool that helps organisations identify, assess, and prioritise risks within their procurement processes. However, common misconceptions: the box-ticking mindset can undermine its effectiveness, reducing it to a compliance task rather than a strategic asset. Unlocking the real value of the procurement risk assessment matrix involves aligning […]
Summary The real-time imperative in procurement highlights the growing need for data-driven decision-making. Procurement analytics empowers teams to make smarter, more informed choices by providing real-time insights into spending, supplier performance, and risks. Core capabilities of digital procurement analytics for real-time decision-making include real-time spend visibility, dynamic supplier risk management, predictive analytics, and automated alerts. […]
Geopolitical unrest remains the top concern for supply chains, affecting 58% of business leaders, followed closely by shortages in raw materials at 44%. These disruptions have led to significant challenges for companies, from delayed shipments to increased costs. In fact, 52% of business leaders believe they could improve their supply chains to better handle such […]
Summary The role of data analytics in digital transformation is crucial for navigating today’s competitive landscape. Many organisations face challenges in using data effectively, but those that do unlock key benefits for strategic growth—from faster decision-making to personalised customer experiences. To maximise impact, companies should follow best practices for data analytics: establish clear objectives to […]
88% of leaders anticipate an even faster rate of change, underscoring the urgency for organisations to adapt. With 60% viewing change as an opportunity and 68% expecting revenue growth to accelerate, the momentum is palpable. However, despite this optimism, more than half admit they are not fully prepared to tackle transformations. This highlights a critical […]
Summary Do technology and human skills complement each other to mitigate risks in the procurement process? Yes, they do, as modern procurement faces various risks, including supply chain disruptions and compliance issues. The risks in modern procurement processes can significantly impact businesses, leading to financial losses and reputational damage. The impact of risks in the […]
Did you know that 96% of organisations are currently leveraging AI in their procurement processes? This surge in adoption reflects the growing recognition of AI’s potential to streamline operations and enhance decision-making. Among the most common applications, 77% of companies use AI for market intelligence gathering and analysis, followed by 74% for automating data entry […]
Summary An agile procurement process is a strategic decision for businesses as it fosters adaptability, innovation, and responsiveness to market changes. The benefits that agile procurement offers include increased flexibility, faster decision-making, and better alignment with business goals. Understanding the role organisational culture plays in procurement is crucial, as it impacts the success of agile […]
Julie Brand
A part of Kronos Group’s team since 2018, Julie is a leader who has honed her specialisation in business transformation and utilised her expansive financial expertise to power business strategy and add value to what we do. She has amassed experience (Pfizer, Sony, AXA, SMEC, Tradelink) all over the world in strategy, project management, analysis, and supply chain.