Organisations are faced with the challenge of buying effectively and operating efficiently, so where are some of the key areas to be focusing on?
1. Are you maximising your buying power ? Consolidating vendors and leveraging scale is typically effective.
2. Regular benchmarking of prices is a healthy policy allowimg you to asses latest market offerings and promotions.
3. Aligning payment terms across your suppliers, can be an area to release cash (This should still be responsible to suppliers).
4. Using eSourcing and eAuctions as part of the selection process is a proven and excellent approach, but must be used correctly...ACI always advocates face to face meetings prior to any final award.
5.The most effective sourcing project has a clear methodology with timelines......just ask these 3 simple questions Who?, When?, How Much?
ACI can conduct a comprehensive 'Business Health & Maturity assessment', providing guidance on how your purchasing activity can achieve maximum value, unlocking tangible, bottom line improvement.