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Profit from Procurement. Add 30% to Your Bottom Line by Breaking Down Silos. Edition No. 1

  • Book

  • 240 Pages
  • April 2021
  • John Wiley and Sons Ltd
  • ID: 5839293

Your lack of focus on Procurement is limiting your profits. Multiply them by making Procurement a company-wide priority.

Profit from Procurement: Add 30% to Your Bottom Line by Breaking Down Silos delivers an insightful, compelling, and fresh take on a subject that typically comprises 50% of a business's total costs: Procurement.

Alex Klein, Simon Whatson and Jose Oliveira, leaders at the world's largest dedicated Procurement consultancy, highlight the limitations of the traditional, functionally siloed approach to Procurement, and demonstrate how significant EBITDA gains can be made by lifting Procurement out of the back office and enabling it to fundamentally reset a company's cost base. Its accessible, frank, and refreshing style, combined with practical, actionable advice, based on the authors' extensive real-life experience, make it a must read for any executive looking to make an impact through Procurement.

The book offers readers a practical and concrete roadmap to optimizing, integrating, and deploying a company’s Procurement capabilities, creating a less siloed, more impactful function. Readers will learn how to:

  • Plan their company's Procurement transformation
  • Reskill teams for the coming change
  • Reposition the Procurement function to become the driver of cross-functional change
  • Integrate new topics such as digitalization and sustainability into their Procurement roadmaps
  • Ensure that Procurement efficiencies are fully reflected in bottom-line profits

Perfect for C-Suite executives and Procurement professionals at companies of all sizes, Profit from Procurement belongs on the bookshelves of every employee and leader tasked with company operations and profit strategy.

Table of Contents

Chapter 1 INTRODUCTION: Why Procurement, and Why Now? 1

Chapter 2 AMBITION: Ensuring You Are Set Up for Success 15

Chapter 3 SOURCING EXECUTION: Making Sure That the Engine Room Delivers 27

Chapter 4 PEOPLE: Building a Winning Procurement Team 47

Chapter 5 OPERATING MODEL: Making It Work in Practice 61

Chapter 6 CROSS-FUNCTIONAL CHANGE: Repositioning the Function as a True Partner 79

Chapter 7 SUPPLIERS: Engaging Effectively 89

Chapter 8 NON-SAVINGS PRIORITIES: Balancing Your Objectives 103

Chapter 9 SAVINGS REALIZATION: Stemming the Leaks 115

Chapter 10 TECHNOLOGY: Investing in and Adopting the Right Tools 133

Chapter 11 CONSULTANTS: Using Consultants in Procurement 147

Chapter 12 PRIVATE EQUITY: Learning Lessons from PE 165

Chapter 13 ROADMAP: Making a Concrete and Realistic Plan 177

Chapter 14 CONCLUSION: Summary and Final Thoughts 195

Acknowledgments 207

About the Authors 209

List of Acronyms 213

Index 215

Authors

Alex Klein Simon Whatson Jose Oliveira