The procurement function typically has wide-ranging interactions across an entire organisation. As such, many progressive CFOs are partnering with procurement professionals to help achieve the company’s profitability and cost-saving goals, as mentioned in CFO (an Argyle company). The report talks about how best-in-class companies achieve savings of nearly 13% over their peers.
However, many organisations have a long way to go. Only 55% of addressable spend is sourced from approved suppliers and about 50% CPOs believe that the supplier risk is increasing. So, how do you manage spend and control supplier risk? And not only do that, but leverage insights, on costs/suppliers/risks, to define a more competitive value proposition to increase market share and support growth.
At Ashfield Commercial and Medical Services (A UDG Healthcare Plc) and other industry-leading companies, procurement teams are taking action. They centralise and enforce robust processes at a corporate level, standardise on modern automation/cloud platforms, and execute locally in each region.
In our exclusive roundtable event, we will:
Learn how procurement has increased in importance
Look at primary business drivers behind the emergence of modern procurement cloud platforms
Hear from Donal Burke, Head of Procurement at UDG Healthcare plc., about how they streamlined and standardised their procurement processes in order to control costs, minimise risks and support growth
We look forward to seeing you there!