Buying better:

• Creation of value chain understanding, paying for true value not simply price

Buying less:

•   Cleanse of master data as the basis of all decision-making (lead times, MOQs, EBQs, life, specifications, etc.)
•   Alignment of forecast and demand management tools
•   Effective and timely inventory management procedures and reporting
•   Agreed stock management protocols and installation of effective modelling tools
•   Data-driven reordering, removing subjective buffer stocks built into the process

Buying for less:

•   Benchmarking and market intelligence regarding pricing and supply/demand metrics
•   Use of value engineering data to drive supplier negotiations – pay for what you need, not what someone wants to sell
•   Managed vendor negotiations with the introduction of tiered suppliers and performance reviews

Control systems:

• End-to-end/full cycle view on procurement – incorporating waste, efficiency and out-of-life into the true cost of procurement
• Incorporation of effective metrics into balanced scorecards and review processes

People development:

•   Training, coaching and mentoring with regard to new processes, systems and ways of working
•   Create a link between procurement and full life value of goods/services bought – move away from sole focus on PPV