Category: On Procurement

What does procurement excellence look like in an evolving and competitive global market?

Summary There is no singular definition of procurement excellence. From meeting executive expectations to risk mitigation and improving competitiveness, definitions vary. Each of these priorities, however, are interconnected. It is up to companies to balance these priorities simultaneously while watching over the overall health of the company to ensure a more crisis-prepared, future-focused framework.   The […]

To outsource or not to outsource: Should all procurement services be internal?

Summary  The best way to insulate critical business functions and infrastructure from risks is evolving at breakneck speed to keep up with the sharp rise in digitalisation and economic uncertainties that are taking over the business landscape.  The race to access specialised procurement services: Human resource shortages, alongside the need for innovation, means companies must […]

Improving timeline visualisation through project management training

Summary   Timelines are a critical tool through which you can stay on track to achieving your goals and objectives and create more accurate business strategies for the future.  In order to carry out timeline visualisation as accurately as possible, you must cover all aspects from estimated timelines before project inception, real-time charts to ensure that […]

What does the EU’s latest regulations on foreign subsidies mean for finance and procurement?

Summary The newest regulations proposed by the EU fulfil the express purpose of analysing non-EU foreign subsidies that fell into a regulatory gap before the proposal of the newest regulations.  For the governing process, the EU has also introduced three key tools including: The investigation of foreign contributions valued at a minimum of €50 million […]

How procurement consulting and spend management can optimise your SRM

Summary  Supplier relationship management (SRM) is a rising priority in the procurement and supply chain industry, especially in the wake of COVID-19. There is no replacement or digital tool for the human interaction through which supplier relationships are formed.  There are, however, ways that a business can facilitate better SRM through the optimisation of the […]

What does procurement data integration mean in the Procurement 4.0 era?

Summary  When it comes to navigating the new wave of digitalisation, namely Industry 4.0, it often feels like a trial and error process. Finding the right solution that will complement your business style and accelerate its growth is not a straightforward process. The key to successful digitalisation is in establishing priorities early on to guide […]

How can a procurement interim manager help you achieve your short-term goals?

Summary: Hiring an interim manager for your procurement function can add value to your business on a faster timeline. These professionals are an effective way to keep a business lean and competitive in the current business climate.  In this blog post, Kronos Group dives into: The function of short-term purchasing managers: Their fresh perspective, swift […]

How procurement transformation can help us navigate global resource shortages

Summary The current business landscape is experiencing severe supply shortages caused by the pandemic. Businesses are struggling to procure the materials they need to sustain their day-to-day operations. While your business may not be directly affected by global resource shortages, you may feel the pressure of supply shortages as disruptions expand to other industries. By […]

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