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The capability and composition of your Procurement and Supply team play a crucial role in determining the success and strategic impact of the function. A capable procurement team goes beyond simple cost-cutting measures, driving value creation through innovation, risk management, stakeholder engagement and sustainable practices. This article explores the strategic…
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In the first part of this series, we explored the evolution of procurement maturity, detailing the ‘Three Waves of Procurement’ – Buy to Produce, Buy to Sell, and Buy to Innovate. We discussed how procurement has transitioned from a back-office function to a strategic driver of innovation and business success. If…
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Have you noticed how procurement’s really stepped into the spotlight? Remember when procurement was just that back-office team, crunching numbers and chasing discounts? We’ve come a long way from just being the ‘purchasing department.’ These days, we’re right at the heart of business strategy. We’re driving innovation and shaping business…
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Welcome back! If you missed Part 1, we covered the fundamentals of the Environmentally Sustainable Procurement Policy (ESPP) and why it matters for Australian businesses and the environment. We also explored what the policy entails and how it encourages sustainable practices across high-impact procurement categories. Here’s a recap to get…
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The Australian Government is making strides towards sustainability with the upcoming Environmentally Sustainable Procurement (ESP) Policy, set to commence in July 2024. This policy aims to integrate circular economy principles into procurement practices, promoting environmental responsibility and innovation across various sectors. Here’s the low-down:  What it is: The ESPP is…
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Here’s a day in the life of a Procurement Professional:  “How did I not know about this? Why was this not on the sourcing project plan? When did you decide to go to market?”   Many procurement professionals experience these moments of surprise and frustration, which typically arise from being brought…
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Welcome to Part 2 of our exploration into Strategic Sourcing Strategies. Having laid the groundwork by defining strategic sourcing and its key components in Part 1, we now turn our focus to the invaluable contributions of procurement consultants.   In this segment, we will explore how these experts apply their deep market insights…
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“Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” Abraham Lincoln’s words echo profoundly in the world of strategic sourcing, where preparation, precision, and the right tools define the success of procurement strategies. A well-crafted strategic sourcing strategy that is…
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Procurement consulting goes beyond simply finding the cheapest supplier. It’s a strategic approach to optimising the entire procurement process, aligning it with your business objectives to unlock significant value.   If you missed Part 1, be sure to catch up on our introduction to procurement consulting’s strategic significance. Now, in…
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Introduction Procurement consulting has become crucial for businesses since it assists companies in optimising what they spend and how they spend which is pivotal for managing costs, driving for value (and competitive advantage) and reducing risk. 1% improvement in procurement can deliver results equivalent to a 10% increase in sales….
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