Sebastian Kay, Author at 4C

From Legislation to Action: Navigating the Path to Procurement Excellence

The Procurement Act, which received Royal Assent last year, is set to revolutionize public sector procurement in the UK. It aims to modernize practices, enhance transparency, and prioritize value for money. Key provisions include thorough disclosure of procurement information, making procurement pipelines public, and requiring contracts over £2 million to include at least 3 KPIs. The Act emphasizes contract...

Sustainability and Cost Reduction: Are They Mutually Exclusive?

In the current economic climate, procurement teams face the challenge of reconciling the push for sustainability with the need for cost reduction. Businesses are urged to adopt eco-friendly practices even if they come at higher costs, while inflation drives the demand for cost cutting. The conventional belief that sustainability drives up cost is being challenged. Strategies such as Total...

From Automation to Analytics: How Technology Is Making Supplier Management More Efficient and Effective

In the rapidly evolving business landscape, effective supplier management is essential for competitiveness and success. Technology is reshaping this landscape, introducing automation, analytics, collaboration, transparency, and AI to enhance value and performance. Inefficient contract management causes potential value loss, while most procurement lacks advanced supplier relationship programs. Technology-driven automation streamlines tasks like ordering, boosting efficiency and supplier performance. Analytics...