Procurement Strategy-Professional guide on best practices to gain competitive advantage and profitability (EBook)
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Profit Inception Project (part of MV Group); Revised Edition: 2017; 163 pages.
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“All I had done was to improve on their strategy, and it was the beginning of a very important lesson in life – that anytime you find someone more successful than you are, especially when you’re both engaged in the same business – you know they’re doing something that you aren’t.”
Malcolm X, The Autobiography of Malcolm X
An effectively implemented procurement strategy can deliver tremendous benefits to any organization which aims to optimize the value associated to the supply chain. It can provide a clearly structured framework that can and must be applied across the organization’s purchasing requirements so that to maximize business profitability.
The idea of writing this book was triggered by a personal disappointment when identifying a rather particular absence of titles around procurement strategies that aimed to help procurement experts not only with theory but also with a practical and professional perspective. Moreover, most of these were published way too long ago, with only slight updates to justify the reprint and/or the new cover, but with little that properly reflects the modern procurement strategizing.
This book aims to diligently capture as much as possible from what has been missing in other publications. All this is being done, however, by addressing exclusively professional and practical approaches and experiences. In addition, we are going to examine organizational procurement performance in relation to and amongst various market players, by taking into consideration the fact that in the context of growing competition and pricing pressure, procurement is increasingly seen as a critical success factor, and the purchasing function is becoming more and more important. Moreover, in order to find improvement potentials, insights from intra-industry, as well as cross-industry players about their global procurement practices and strategies were researched, collected and presented in this book.
In order to avoid any misinterpretations, the terms ‘procurement’ and ‘purchasing’ will be used throughout this book, as both of these appear to be accepted within procurement, project management and organizational environments. In the same line of reasoning, such comparable terminology as ‘buying’ or ‘sourcing’ or ‘supply chain management’ or ‘sourcing’ is also very much familiar and extensively used amongst professionals from within various business and industry sectors.
Having said that, it is my great pleasure to welcome you aboard in this exciting ‘know-how’ sharing journey. While reading this book you will be acquiring exclusively practical skills and best of professional insights from multi-billionaire industries aimed to allow you to strategize effectively your procurement endeavors. And an effective procurement strategy always abounds in increased savings and maximization of business profitability.
Table of Contents:
Author’s and Publisher’s note: Disclaimer & Privacy / Figures / Tables / Foreword / Preface / Acknowledgements / About the author
1 Introduction / 1.1 Problem Statement / 1.2 The aim of the book / 1.3 Research Inquiries / 1.4 Research Methodology / 1.5 Structure of the book
2 Procurement / 2.1 The Changing Role of Procurement / 2.2 Procurement Skills / 2.3 Procurement as Strategy / 2.3.1 Strategic Positioning of Procurement / 2.3.2 Procurement Strategies / 2.4 Category Management / 2.5 Current Procurement Trends / 2.6 Performance Measurement in Procurement / 2.7 Current Procurement Challenges / 2.8 Current Supply Chain Best Practices
3 State of the Art Frameworks for Procurement / 3.1 The Five Senses of Strategic Procurement / 3.2 The Strategic Sourcing Methodology (by Accenture) / 3.3 The Purchasing Chessboard (by A.T. Kearney) / 4 Research Methodology
5 Results Presentation /5.1 Procurement Structure / 5.2 The Role of Procurement / 5.3 Procurement Strategies / 5.4 Procurement Process / 5.5 Procurement Process versus Procurement Strategy / 5.6 Procurement Prerequisites / 5.6.1 Framework Derivation / 5.6.2 Key Success Factors in Procurement / 5.6.3 Procurement Lessons Learnt / 5.6.4 Procurement Improvement Potentials / 5.6.5 Procurement Challenges / 5.6.6 Success Factors for Excellent Procurement Strategies / 5.7 Procurement Best Practices / 5.8 What else is Important to Know about Procurement / 5.8.1 The Role of Bulk Purchasing / 5.8.2 Procurement Trends / 5.9 Oil&Gas Group’s Supplier Feedback
6 Interpretations of Results & Recommendations / 6.1 Procurement Structure / 6.2 Procurement Strategies / 6.3 Procurement Best Practices / 6.4 Future Research Potential
Instead of Epilogue – A Thank You Page
8 Appendix / 8.1 The Purchasing Chessboard – Extended Description / 8.2 Interview/Business simulation Guideline / 8.3 Extended Results Presentation (ad Procurement Prerequisites) / 8.3.1 Key Success Factors in Procurement / 8.3.2 Procurement Lessons Learnt / 8.3.3 Procurement Improvement Potentials / 8.3.4 Procurement Challenges
References and Recommendable Further Reading
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