Spendmatters have been running a series of articles looking at what key figures in the industry believe to be their top 10 commandments of procurement.
This made me think about what I would consider to be the essential elements of effective procurement performance. It goes without saying that I absolutely believe that the top four have to be the four elements of the C.O.S.T. Optimisation Formula;
1. Thou shall effectively manage the Change requirements across the business
2. Thou shall proactively Optimise all internal processes and workflows
3. Thou shall establish collaborative Supply Chain partnerships
4. Thou shall proactively Track all benefits until they are fully realised
But what about the remaining six?
After some thought and discussion across my team, my conclusion is that the Essential 10 Commandments be completed by;
5. Thou shall align Finance, Procurement and Operations stakeholders to a common set of objectives
6. Thou shall actively demand innovation from both internal teams and external partners
7. Thou shall ‘know my numbers’
8. Thou shall communicate openly and share objectives and performance data with my supply chain partners
9. Thou shall position self as an integral part of the senior executive team with common objectives
10. Thou shall deliver quality, cost effective solutions that align to the real business needs
There you have it – my take on the Essential Ten Commandments of Procurement Performance – what do you think?
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