How can managing the supply base efficiently and effectively contribute to procurement success?

Efficient and effective management of the supply base contributes to procurement success in several ways. Firstly, it supports operational requirements by ensuring a steady supply of necessary goods and services. Secondly, it aids in cost savings by optimizing procurement processes and reducing wastage. Thirdly, it helps in risk mitigation by identifying and managing potential supply chain risks. Lastly, it contributes to talent development by providing opportunities for staff to enhance their skills in supply chain management.

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With this slide, communicate your procurement objectives. Some examples are: supporting operational requirements, managing the supply base efficiently and effectively, cost savings and risk mitigation, as well as talent development. Use this slide to cover your supply chain management Key Performance Indicators (KPIs). These may include cash-to-cash time cycle, inventory turnover, Gross Margin Return On Investment (GMROI), freight bill accuracy and on-time shipping. Mapping out your procurement processes helps to gain greater supply chain visibility and identify potential threats and avoid them. With this slide, introduce your procurement map and walk your team and stakeholders through the strategy.

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Procurement and Strategic Sourcing

The procurement process can be tough to handle. Use our Procurement and Strategic Sourcing presentation to develop the action plan you need to achieve...

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