Good morning!
49% of the year 2021 is complete. Time is moving fast and so is the world of procurements. Here are the top stories of the week from the world of (public) procurement.
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Procurement Insights
🤖 India’s Public procurement and Government e-Marketplace - In India, public procurement constitutes about 22% of the GDP. The average prices on GeM are lower by at least 15-20%. The platform has the potential to reach a $100 billion procurement mark in the next 3-5 years.
🍃 Government contractor pleads guilty to Bid-Rigging and Procurement Fraud - Ohio-based company was sentenced to pay a $7 million fine. Companies doing business with government agencies should expect increased scrutiny of procurement bids and the bid award process.
☕️ How to conduct meaningful supplier audits - At an international clothing retailer, it was revealed that some of its UK suppliers had not adequately protected employees from Covid-19 risks.
🕶 Procurement teams leading value capture initiatives - McKinsey reports Procurement functions in the top quartile in terms of the health of their practices to generate twice the annual savings of those in the lowest quartile, allowing them to improve earnings performance.
📊 What is social procurement? - Every year, the U.S. Government spends over $500 billion via “procurement,” or the process of acquiring a product or service from another business. This number is over 3 times more than what all governments combined spend on international aid. In the private sector, some of the world’s best-known companies also spend massive amounts of money via “procurement”. As an example, Starbucks spends $2.5 billion via its procurement teams – and this doesn’t even include the $600 million it spends on coffee.
You’re Invited
📜 Achieving Full Visibility: How Ace Hardware Automates Source-to-Pay
By Procurement Leaders • June 29, 2021 • Registration Link
💻 2021 CPO Report - State of Procurement & Solution Priorities
By Keelvar • June 30, 2021 • Registration Link
🏁 Improving Internal Perception of Procurement
By Art of Procurement • June 30, 2021 • Registration Link
💻 Procurement Can Move with the Markets: Winning Category Strategies
By SpendHQ • July 21, 2021 • Registration Link
Opportunities
💡 Government of Uttarakhand is looking for a Procurement Specialist
Dehradun, Uttarakhand • Government • Full Time
💡 Unilever is looking for a Procurement Transformation Manager-South Asia
Bengaluru, Karnataka • Consumer Goods • Full Time
💡 JLL is looking for a Procurement Director
Mumbai, Maharashtra • Real Estate • Full Time
💡 Myntra is looking for a Manager Sourcing
Bengaluru, Karnataka • E-Commerce • Full Time
💡 Honeywell is looking for a Lead Strategic Sourcing
Bengaluru, Karnataka • Electrical & Electronics • Full Time
💡 CityMall is looking for a Procurement & Inventory Manager
Gurgaon, Haryana • E-Commerce • Full Time
What did you think about this edition? Hit reply—share your feedback, insights, and opportunities.
I’m open to discussions—feel free to book a slot on my calendar.
Have a great week ahead!
✌️
Gaurav Baheti
Founder and CEO, Procol