- As part of the business’ evolution from devolved procurement to a consolidated global procurement function, CapEx spend became a key opportunity and risk mitigation area.
- Procurement support was previously limited and ad hoc, leading to a lack of standardisation in processes and documentation.
- As a Global CapEx lead joined the team, there was a need to minimise risk and drive down cost by putting a CapEx standard operating procedure and a supporting procurement toolkit in place.
- The 4C team identified requirements and examples of best practice through a global project manager questionnaire and stakeholder interviews.
- Following this, we assessed the current maturity of CapEx procurement and developed a CapEx Standard Operating Procedure (SOP).
- To support the SOP, we used best practice documents provided by project managers and 4C-developed collateral to build a CapEx procurement toolkit and guidance documents.
- We led the production of a training video for a global rollout detailing the end-to-end CapEx process and how procurement best practice could be embedded to achieve the greatest value.
- Greater control over CapEx spend and involvement of the CapEx procurement were gained through new standard operating procedures.
- We achieved increased awareness and use of procurement best practice and tools as a result of a global training programme for Project Managers and new starters.
- Improved procurement processes with standardised documents were fully embedded to extract maximum value and mitigate risk.