💸Get tips for procuring profitability in the procurement market
This ProSource edition shares the latest insights into the profitability of the procurement market
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It's been 3 years since Procol was officially founded. From a team of 2 to 70 people and managing a little over $500M of spend - we surely have come a long way. I'm full of gratitude to our team, customers, investors - and everyone who ever believed in us.
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Procurement Insights
📈 4 Steps to transform supply chain management amid today’s new world order
Organizations that have redesigned supply networks and supply chain risk management approaches to emphasize—in addition to cost—reliability and responsiveness are more apt to protect market share and can even achieve double-digit revenue growth and operating income advantages over less resilient competitors. That’s why more CFOs are helping COOs and leadership teams reconfigure supply chain risk management through various actions.
🤝 Quick tips to improve supplier relationship management
When we speak of SRM, we describe the process of integrating the optimal technology, processes, resources, and tools needed to keep your organization in step with your suppliers, thus creating stronger and more loyal, long-lasting relationships. Here are a few quick tips you can use to insert some magic into your supplier relationship management.
🏆 Assessing procurement talent- what’s the best way?
How this whole thing got started was when a member of the Foundry posed an excellent question, asking the community if anyone had any recommendations for a good test that worked well for selecting their procurement team. One member instantly replied with a suggestion to check out the Institute for Supply Management (ISM) and its skill matrix known as the Supply Chain Capability Model (formerly the Mastery Model).
🌐 Will global events lead to the end of supply chain globalization?
The last two years have wreaked havoc on many supply chains. Calum Lewis, Founder of OP2MA, outlines how the changing landscape is forcing many companies to see their supply chain in a new light, including how and where they produce their goods. A global pandemic, a war between Russia and Ukraine, continuing chaos in China and the blocking of the Suez Canal have all, understandably, had a huge impact on the ability of organizations across multiple sectors to get their hands on the goods and supplies they need to continue operations. This has led to some companies looking to reduce the length of their supply chains, bringing supplies and manufacturing nearer to them. This is likely to be something we see more companies considering.
❓ How can procurement contribute to innovation?
The idea that procurement should play a key role in innovation projects is gaining traction. The last couple of years have forced procurement to prioritize dealing with urgent supply disruptions. But CPOs continue to rank innovation contribution amongst the top priorities – although 39% of procurement organizations are rarely involved in innovation despite most innovations coming from commercial third parties (Deloitte Global CPO survey, 2021).
🔑 How literal roadblocks hinder the supply chain
Rebels in war-torn countries tax local shippers to fund their operations. Global supply chains have expanded into the developing world, bringing economic opportunities even to countries whose governments have only a tenuous hold on their territory. Contrary to the old adage that trade diminishes war, trade is driving conflict in these places because fighters are adopting a lean business model, often using only a few Kalashnikov rifles, to extort money from everything that moves down roads under their control—including vehicles working for multinational companies and aid organizations.
May Event Calendar
🌎SCM Lecture: Decision making with probabilistic forecasting in supply chain, Wed, May 11, 2022, 6:30 PM - 8:00 PM (your local time)
🌎How to create supply chain transparency that wins your customers trust, Thu, May 12, 2022, 7:30 PM - 8:15 PM (your local time)
🌎Indirect Procurement APAC Summit, Thu, May 26, 2022, 6:30 AM - 2:30 PM (your local time)
🌎World procurement congress 2022, 13-15 June
🌎World procurement awards 2022, 15 June
Opportunities
💡Assistant Procurement Manager, JLL Bengaluru, Karnataka, India On-site
💡Procurement Manager, Envirotech Services Chennai, Tamil Nadu, India On-site
💡SOW Procurement Manager, Randstad Sourceright Gurugram, Haryana, India On-site
💡Assistant Procurement Manager – Tea Sustainability and Supplier Compliance,Unilever Kolkata, West Bengal, India On-site
💡Supply Chain Manager, Brenntag Mumbai, Maharashtra, India On-site
💡Senior Manager I - Supply Chain Operations (Patna), Flipkart Bihar Sharif, Bihar, India On-site
💡Moglix - Manager - Logistics, Moglix Kolkata, West Bengal, India On-site
Brief introduction
Hi, I am Gaurav Baheti, the CEO of Procol. We help companies transform their procurement process to deliver higher cost savings, reduce turnaround times, and improve visibility. We currently work with 60+ enterprises and manage $500M+ spend.
This is our weekly newsletter where we share crisp insights, hottest jobs, and exciting events in procurement globally.
Ping me at gaurav@procol.in to chat or connect on LinkedIn.