Summary Procurement spend analysis is the process of examining an organisation’s expenditure data to uncover insights for better decision-making and cost management. The promised benefits include cost savings, supplier performance optimisation, risk mitigation, and improved compliance. The case for the hype includes success stories where spend analysis has driven significant value, particularly with the help […]
Imagine waiting weeks for a product you ordered online, only to find out it’s been delayed due to shipping bottlenecks. This common frustration highlights the critical role of supply chain management in our daily lives. Behind the scenes, supply chains keep businesses running and ensure that goods reach consumers efficiently. With 90% of the world’s […]
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. […]
Summary The benefits of procurement extend far beyond cost savings and efficiency. It plays a critical role in improved cash flow management, enhanced financial planning, and budget control, enabling businesses to optimise spending and maintain financial flexibility. Procurement also supports risk mitigation and cost avoidance by managing supplier reliability and ensuring compliance with regulations. Through […]
Summary Ethics are essential for success, as it promotes transparency, trust, and accountability. What are ethics in project management? They are guiding principles like integrity and fairness that drive responsible decision-making. Project managers often face common ethical dilemmas in project management, such as resource misallocation and conflicts of interest. Ethical leadership influences project outcomes by […]
Procurement significantly impacts various aspects from the supply chain to overall profitability. It is estimated that procurement accounts for approximately 50-75% of business costs, underscoring its importance for organisations seeking to enhance efficiency and maintain a competitive edge. There is an increasing focus on cost reduction within procurement. Organisations are actively pursuing intelligent and strategic […]
Summary In today’s rapidly changing business landscape, staying competitive is no longer just an option but has become a necessity. GenAI is the fusion of generative technology and artificial intelligence, which is poised to revolutionise procurement by introducing unparalleled efficiency and accuracy. By seamlessly integrating with existing procurement systems and workflows, GenAI optimises processes, drives […]
Summary 2023 has so far been a notable year in the post-pandemic era, having a considerable impact on businesses around the world that are still on the journey of recovery and normalisation of key functions including procurement. Challenges to procurement remain multifaceted this year as in the years before, with the main challenges to global […]
Summary The best practices for procurement in the pharmaceutical sector start with ensuring the availability of medicines and medical devices, maintaining optimal quality and safety, as well as establishing cost-effectiveness for sustainable operations. It is also important to ensure that procurement functions are aligned towards complying with ethical practices and maximising transparency and accountability so […]
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.