A recent study by the Chartered Institute of Building (CIOB) revealed that more than 87% of executives at leading construction companies singled out an efficient procurement function as the primary driver for success.
These figures are not surprising given that the construction industry has become increasingly dependent on sourcing quality materials on time to deliver higher quality and efficiency in all its projects.
While there have been many concerted efforts from construction companies and raw material suppliers to streamline the procurement function, the implementation of these efforts has left a lot to desire, with many construction companies not experiencing the gains they anticipated. From errors in communication to a lack of flexibility—inefficiencies in the procurement process can be traced back to multiple causes.
Even as construction techniques, materials, and consumer preferences have changed, many construction companies are still plagued by age-old challenges. The best way to overcome these obstacles and make procurement a strategic function that adds the value it is capable of bringing to your organisation is to improve your procurement workflows, techniques, and strategies continuously.
As the world shifts away from traditional methods of doing business, construction companies must account for the needs of the modern landscape to make their procurement function truly efficient. Today, this comes down to embracing procurement transformation.
So, what does it take for businesses to transform their procurement function?
When it comes to transforming your procurement function, leveraging the expertise of procurement professionals and the latest technologies available is crucial.
This is why procurement consulting has become the driving force behind procurement transformation. Without professional support, you run the risk of implementing dated and inefficient procurement workflows that can diminish your competitive advantage and even impact the quality of your construction projects.
From helping you assess the maturity of your procurement processes to developing SMART objectives in aid of your efforts, professional procurement services can provide you with the knowledge and tools to make procurement an area of competitive advantage.
Here at Kronos Group, we have supported many leading companies across Europe and beyond with our professional-led consulting services that empower our clients to streamline and enhance their procurement function by utilising cutting-edge technologies.
Our team of professionals at Kronos Group adds value to your critical business functions through targeted, practical, and efficient strategies for procurement transformation.
We ensure that your transformation takes every single aspect of your operations and objectives into consideration to deliver lasting, sustainable value and transformation.
Our professional procurement consulting services include:
Access our latest insights on procurement, finance, and project management.