The Blockchain Revolution: Cutting Through the Chain of Uncertainty
In a world where transparency is of utmost importance, trust is the most valuable currency, and middlemen are becoming obsolete. It may seem utopian, but it’s happening now, and all sector and industry leaders are quickly adopting it. Blockchain is here.
Aligned with Success: Why a Fully Developed Procurement Vision and Strategy Could be Your Key to Growth
Our research in the Transformative Procurement Survey demonstrated that only 6% of organisations had a developed procurement vision and strategy which was fully aligned to all short and long-term business objectives. This may seem alarmingly low, but when you separate functional objectives from those specific to the business, think about your business – do you actually have procurement functional...
Can Pan-Enterprise Procurement Category Strategies Drive Innovation and Market Leadership?
Pan-enterprise procurement category strategies hold immense potential for organisations aiming to drive innovation, optimise efficiency and achieve cost savings. However, addressing challenges related to data management, organisational complexity and change management is crucial for successful implementation. In this blog, we will explore the innovations pan-enterprise procurement category strategies can bring, as well as effective solutions to overcome implementation hurdles.
What does the future hold for R&D outsourcing in 2024 and the years to come?
Speed, cost and productivity have forever been the key areas of focus for biopharma sponsors and CROs, but the intensity of their demand has significantly risen. Read more about whether current outsourcing models are adequate to meet current and future demands.
Analogue to Algorithm: Pioneering Change in a Digital Frontier
Delve into the importance of change in the procurement domain, how diverse approaches to change management can impact outcomes and how a harmonious blend of change management principles and technology can drive successful transformation.
Retaining Customers and Revenue in Times of High Inflation: Key Strategies for Food & Beverage Companies
Inflation is having a significant impact on the food and beverage sector, with consumers becoming more price-conscious and demanding products with health and sustainability benefits at a price parity to standard alternatives. Food and beverage companies need to adapt to these changing dynamics by finding innovative ways to reduce costs and invest in omnichannel to meet evolving consumer preferences.
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...
The Importance of Relationship Management in Clinical Outsourcing
The success of clinical outsourcing depends on the relationship between the sponsor and the CRO. A lack of trust can lead to problems, so it is important to build strong relationships. Sourcing managers can play a key role in this by understanding the needs of both parties, facilitating communication and collaboration, managing conflict, and measuring and rewarding performance. By...
Survival of the Fastest: Why the ‘3 Ps’ Must Become the ‘4 Es’
Traditional businesses need to adopt technology platforms to improve efficiency, sustainability, and compliance. Technology platforms are essential for businesses to survive and thrive in today's world. Businesses that resist new technologies will be at a competitive disadvantage. The blog discusses three key challenges of not investing in new technology platforms: data leakage, compliance failure, and talent deficiency. It also...
Don’t Wait for the Procurement Reform Bill to Make Positive Change!
The UK public sector spends £300 billion a year on procurement. The Procurement Reform Bill is set to introduce positive change to the regulations that govern this process, but it is not due to be implemented until October 2024. Public sector organizations should not wait until then to make changes that can help address today's challenges. Here are some...
The NHS Efficiency Challenge – Time for a fresh approach
The NHS is facing the most challenging period since its inception, with performance standards not being met, compromised quality, and low patient satisfaction and outcomes. Add to these issues a burnt out and undervalued workforce dealing with long waiting lists, a diagnostic backlog brought about by COVID and most systems facing deficit positions not seen before, and it’s clear...
Return on Inclusion: Why you need to embrace the new ROI
Return on Inclusion (ROI) is a new concept that measures the value of diversity, equity, and inclusion (DE&I) in marketing. ROI can be measured in a variety of ways, such as through increased brand awareness, sales, and customer loyalty. There is a growing body of evidence that suggests that DE&I can have a positive impact on marketing ROI.
ChatGPT: Friend or Foe in the Pursuit of Sustainability?
We explore whether ChatGPT can help improve sustainability, examining the potential benefits and challenges of using AI to promote sustainable practices.