Procurement Strategy
The Client
The Client, operates in the field of financial services
IndustryFinancial Service ServicesProcurement Strategy
The Result
The Client implemented the new corporate governance structure in procurement improving in parallel the operation of the new team.
Deliverables
- Set of governance structure, policies and procedures in conjunction with existing strategy and resources.
- Proposals to improve the operation of the Procurement Department and the relevant interdepartmental flows, regarding the procurement process of goods and services.
- Commodity List of Supplied items and Services, risk assessment and proposals for quick wins
The Challenge
1
The client wanted to restructure the procurement from distributed units allocating significant time on buying, to one team focusing on strategic sourcing with less bureaucratic procedures, improving at the same time corporate governance.
The Method
2
- We relied on Verallis VeSPa (Spend Analysis) methodology to identify cost structures, nature of commodities, suppliers, flows and occurrence of similar activities.
- We performed interviews with procurement team to understand existing structures, operating flows and systems
- We analysed with metrics the existing corporate governance environment from initial needs to actual approvals We analysed the Commodities in multiple dimensions to finalise commodity lists, strategies and implementation plans