Nisarg Jani’s Post

To unlock greater cost savings and value in Procurement, you need to think about innovation. And the reason for this isn't farfetched, traditional cost saving methods no longer suffice in procurement. In other words, you must embrace innovation and explore new approaches to stay competitive and achieve sustainable savings. In this blog post, we'll delve into 4 innovative strategies to unlock greater efficiency and value. Discover more here>>>https://lnkd.in/dMxsauJV #efeminiacademy  #newblogalert #agilestrategies #changemanagement #procurement  #procurementmadeeasy

Numerous forces are converging to deeply influence the future trajectory of #procurement. KPMG’s latest report, Future of procurement, examines how these forces may affect procurement teams and discusses how procurement leaders can respond—and the capabilities they will need to thrive.

Great to share our insights on Procurement's value proposition - now more than ever, Procurement has a key role to play in supporting organisations in responding to the current economic climate. #procurement #supplychain #consulting #procurementasaservice

Top 3 Procurement Trends to Watch in 2025👍 As 2024 begins to wind down, it’s time to look ahead. Procurement in 2025 will be shaped by new challenges and opportunities, what are you focusing on for 2025? #Procurement2025 #SupplyChainFuture #Sustainability #Procurement

Why Procurement Management Matters for Businesses 🌟 In the world of business, procurement management plays a crucial role in driving success and fostering growth. Here's why it's so important: 🔹 Cost Efficiency: By engaging in strategic procurement practices, businesses can effectively reduce costs by securing the best deals with suppliers. 🔹 Quality Control: Making informed decisions when selecting suppliers ensures that businesses receive high-quality materials and services, ultimately enhancing their offerings. 🔹 Risk Reduction: Through meticulous procurement planning, businesses can mitigate risks such as delays and shortages, ensuring smooth operations. 🔹 Fostering Innovation: Collaboration with suppliers can spark innovation, leading to the development of new and improved products that cater to evolving market demands. 🔹 Supporting Sustainability: Embracing responsible procurement practices can position businesses as champions of sustainability, contributing to a more environmentally friendly operation. Remember, effective procurement is not just about making purchases—it's about laying the foundation for a stronger, more competitive business. #Procurement #BusinessSuccess #CostEfficiency

A Dilema! #Savings vs #Innovation Procurement professionals often face a tough choice between: - Cost Savings - Reducing expenses - Meeting budget targets - Short-term financial gains - Innovation: - Investing in new technologies - Improving processes and efficiency - Long-term strategic advantages The dilemma arises when: - Cost-cutting measures might limit investment in innovative solutions - Prioritizing innovation might increase costs in the short term To resolve this dilemma, consider: - Total Cost of Ownership (TCO) analysis - Cost-benefit analysis of innovative solutions - Balancing short-term cost savings with long-term strategic goals - Collaborating with stakeholders to align priorities - Exploring innovative solutions that offer cost savings By adopting a strategic approach, you can navigate this dilemma and achieve both cost savings and innovation in procurement. — Hussain Mumtaz

Numerous forces are converging to deeply influence the future trajectory of procurement. Faced with uncertainty over their pace and impact, procurement teams should brace themselves for a myriad of potential scenarios. In this report we examine how these forces may affect procurement teams and discuss how procurement leaders can respond—and the capabilities they will need to thrive. Interested to read more? Download the report.

The New Focus of Procurement: Value, Innovation, and Sustainability "Procurement is no longer just about cost reduction. It’s about value creation, innovation, and sustainability." Procurement has evolved. It’s not just about saving money anymore. Now, it’s about creating value, fostering innovation, and promoting sustainability. Creating Value: Modern procurement focuses on finding suppliers that offer the best overall value, not just the lowest price. This leads to better products and services. Fostering Innovation: Procurement plays a key role in driving innovation by working with suppliers who bring new ideas and technologies. Promoting Sustainability: Sustainable procurement practices ensure that we are making choices that are good for the environment and society. #Sourcing #Sustainability #Value #Innovation

Nice article to read, main message here: Once regarded as a back-office process, procurement is finally getting the respect it deserves, recognized for its contribution to the organization's long-term, strategic agenda.

Rapid global changes are making the procurement process increasingly complex. Learn how to simplify your procurement processes and increase transformation success: https://gtnr.it/4dutU8p #GartnerSC #SupplyChainManagement #ProcurementTransformation