You’re living in a very uncertain world and understand that resting on your laurels or only looking backwards to improve procurement will not be enough. We can help you to look ahead and think differently, to reimagine and to reinvent procurement for the future needs of your business.
To help you achieve this as we come out of very difficult times for ourselves as individuals, and business, this survey provides a health-check of your procurement activity and whether it is as efficient and effective as it could be. It will also provide some insights on the sustainability and social value agenda and help you understand how to address key challenges facing your organisation and identify specific opportunities for you to take to your board with clear benefits to the business.
For every completed survey, 4C are also making a donation on your behalf to the charity Mind of £10 so your help really matters.
How the Survey will help your Procurement Reinvention
As procurement professionals look to guide their companies forward, it is vital to consider how to evolve and ‘reinvent’ in this new environment:
- “What should procurement look like and why?”
- “How should procurement best interface with its internal customers and external suppliers/supply chains?”
- “What skills and capabilities are required going forward?”
- “What technology is needed to support future operations?”
In partnership with the University of Birmingham, 4C Associates are conducting research that will provide answers to these questions and many others.
It will also provide a health check of your procurement function and whether it is set-up and ready to operate effectively to achieve its goals and objectives in the post-covid business environment. The guidance will focus on critical areas related to your procurement organisation’s:
- vision and strategy
- structure and governance
- engagement with the wider business
- engagement with suppliers and the supply chain
- policies, processes and procedures
- performance measures
- skills and capabilities of team members
- technology infrastructure
Procurement must build on its increased exposure and credibility
Given the significant and unprecedented issues and challenges faced during the pandemic, Procurement has gained significant credibility in the way it has managed sourcing, supply chains, stakeholders and suppliers. Originally, continuity of supply from suppliers and upstream supply chains was the most significant and immediate problem, but while procurement is no easier, the challenges have shifted and new opportunities for the development of a more professional approach have arisen.
Building on this positive position, there may be opportunity for your procurement team to develop and move to the next level. However, it is important to recognise the issues at the top of the procurement agenda so that any ‘reinvention’ can deliver maximum impact and the needs of your business:
- Manage supply risk to ensure supply continuity – while many organisations are confident in their existing risk management approaches, it is clear for many there is a need to accelerate and enhance these capabilities
- Control and reduce spend cost – there will be ongoing instability for some time and even those that fared better must continue to focus on the key objective of spend cost reduction
- Improve business engagement and be seen as a strategic advisor – procurement must elevate its role within the business to leverage its deep knowledge of both the business and supply market to bring something new to the table
- Improve the agility of procurement – to predict and quickly respond to changes in the external market and supply chains, as well as internal expectations, they require an agile operating model and flexible processes and systems
- Consider further procurement digital transformation – possible broader implementation and adoption of modern enabling tools (e.g. AI, smart automation and data analytics/reporting) to achieve broader business transformational change and unlock more value for the business. These tools will also enable agile behaviour and free-up time for more strategic value-adding work
- Develop and align skills and capabilities with changing business needs – the development of behavioural/soft skills (business engagement, collaborative working and change management) and technical/hard skills (data analytics, market knowledge, strategic sourcing) will need to consider how operating models are changing and the need to become more agile to ensure employees have the tools they need to succeed
- Deliver sustainability goals – sustainable procurement is a key focus given the heightened importance of economic, social and corporate governance (ESG) and that it now generates greater business value through reduced costs, improved risk management and enhanced brand value.
What you will receive in return for completing the survey
Your perspective is valuable to us and in return, we will share the results as they are collated and processed and provide you with a copy of the final report, with an option for an individual briefing. The survey tests the maturity of your procurement organisation and by contributing to the research you will discover where your organisation is positioned, and the report will provide practical suggestions for improvement.
Also for every completed survey, 4C are making a donation on your behalf to the charity Mind of £10 so your help really matters.
Thank you in advance – we really value your input.