2012 New Year Resolutions for Procurement

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  1. 1. New report by BravoSolution
  2. 2. Make 2012 a banner year for procurement. Our 2012 Prediction: Procurement will finally become a business driver in 2012 not just a cost cutter. Thankfully for procurement, cutting costs is a little bit more attainable than cutting the waistline. Here are our top resolutions for procurement in 2012 .
  3. 3. Resolution #1: Start embracing non-compliance A lack of compliance means more to procurement thanincreased costs it highlights areas for improvement. Is your technology user-friendly? Are other departments buying off contract because your process is too complex? Are the suppliers meeting everyones needs? Stop expecting your marketing, production and ITcolleagues to simply get it. Non-compliance is an opportunity for improvement, notjust a hindrance.
  4. 4. Resolution #2: Put the supplier at the heart ofyour process and technology If your suppliers fail, you fail too no matter how much youve perfected your process or technology. Your resolution for 2012: Treat and protect your suppliers as your competitive advantage. Take a full-circle approach to supplier relationships: understand the health of your supply base properly assess risks move towards collaborative supplier partnerships.
  5. 5. Resolution #3: Start using market-informedsourcing or boost your adoption. Your tried and true sourcing approach may be leaving cost savings unturned. To develop better partnerships with suppliers, move away from simply pushing our strictly defined tender requirements. Market-Informed Sourcing embraces a more collaborative approach to procurement and is proven to boost category savings up to 30 per cent, but adoption is still extremely low.
  6. 6. Dealing with the New Normal:Ten New Year Resolutions for Procurement in 2012
  7. 7. Contact Us1st Floor, 85 London Wall London EC2M 7AD +44 (0)20 7796 4170For more information on BravoSolution,the spend analysis and strategic sourcing company, visit www.bravosolution.com