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In the recent years, the procurement and supply chain function has gained a lot of attention as it has been seen to be a source of operational efficiency, enhanced bottom-line, customer satisfaction, and competitive advantage
In the recent years, the procurement and supply chain function has gained a lot of attention as it has been seen to be a source of operational efficiency, enhanced bottom-line, customer satisfaction, and competitive advantage. This function plays an important role in Managing Spend, Managing Risk and Supporting Operations. In many organizations, over 70% of the budget is spent on bought-in goods and services, and thus places this function in the heart of the Corporate Strategy.
Managing spend is the aspect of ethically responding to internal stakeholders’ requirements by sourcing from the right and reliable suppliers the right items in the right quality and have them delivered at the right place, in accordance with pre-defined processes. This aspect of spend management has a huge impact on the organization’s financial performance and the organization’s corporate image. Hence the better cost is optimized within compliance and ethical standards, the better the bottom-line is enhanced, and the better the positive perception of the organization.
Managing Risk in the context of procurement and supply chain is the avoidance of disruption by ensuring that the right requirements bought at the right price are delivered with the right quality, at the right time and at the right place. The costly consequences of a disruption in the supply chain could include inefficiency in operations (not meeting operational and financial objectives), a demand gap and the inability to satisfy customers. To avoid this costly impact, Supply chain functions have to be well structured, have excellent strategies in place to enable a sustainable and resilient supply chain.
There is no doubt that the success of any organization that uses goods and services from suppliers depends on the performance of the suppliers. The Procurement and Supply Chain function plays a vital role in supporting operations by ensuring effective strategic supplier performance management and excellent communication with internal stakeholders to enable the achievement of operational excellence.
While the above information is widely available, not many organizations are able to leverage of their supply chains for operational efficiency, enhanced financial performance, and customer satisfaction. The reasons could be twofold at both strategic and operational levels. With the dedication of our team, in-depth knowledge on all aspects of the supply chain, and huge experience, LARN INTERNATIONAL Ltd can assist your procurement and supply chain to achieve sustainable cost reductions, transformation of the function and strengthen their relationship with stakeholders through:
Our approach is to enable our customers to uncover hidden value within their operations by transforming the way goods and services are bought, the way the procurement function communicates with other functions, and knowing the type of relationship to develop with each supplier within compliance and ethical regulations.
We are delighted to welcome the opportunity to address your concerns, or carry out a diagnosis of your current end-to-end purchase to pay situation to identify the opportunities that could be uncovered to optimize cost and enhance operational efficiency. You could reach out to us by visiting the contact section of this website and selection “Request for a Quote” and filling up the form. We strive to ensure exceptional customer satisfaction at all times.
