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 Content
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
About the author
ALEX KLEIN is COO and Co-founder of Efficio, the world’s leading Procurement consultancy. He works with large blue-chip corporations and mid-sized PE-owned companies to help them execute global Procurement transformation programs.
SIMON WHATSON is a Vice President at Efficio’s London headquarters. He supports companies across sectors to augment Procurement’s value proposition through multi-year programs, has led industry thought leadership reports on technology and talent in the industry, and speaks at global conferences on the topics.
JOSE OLIVEIRA is a Vice President at Efficio’s New York office. He supports companies and their investors by embedding Procurement as a core business function, establishing cross-functional engagement and stronger commitment to change management.
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