Building an Effective Procurement Organization

Best Practices for World-Class Performance

Iryna Povoroznyk

• Publisher: J. Ross Publishing
• Year: 2024
• ISBN:
  9781604278507
• Edition: 1
• Topic: Commerce
• Subtopic: Opérations

Effective procurement management is essential for any organization looking to reduce costs, improve quality, and increase profitability. Building a truly effective procurement organization is a challenging multilayered effort that requires establishing a solid base for the deployment of best-practice solutions and ensuring long-term benefits from sustainable procurement operations.
Building an Effective Procurement Organization presents essential steps for advancing procurement practices to a world-class level, describing the fundamentals of procurement management and how to build a solid foundation for success. Povoroznyk emphasizes the importance of mastering the basics before diving into more complex procurement concepts. With clear explanations and practical examples, this invaluable resource is for anyone looking to develop their procurement management skills and enhance their organizations' purchasing power. For entrepreneurs and suppliers, this book will become a source of insider information about the structure of the procurement service of their corporate clients and the tasks that owners and managers of companies set for buyers.
Key Features:

• Thoroughly explains all aspects of procurement management, beginning with benchmarking and category management and concluding with team collaboration and change management
• Provides an overview of world-class procurement management best practices and applicable tools
• Defines the strategy and tactics for executing a successful procurement department transformation, including team building and employee motivation
• Describes how to build a custom procurement organization structure to meet the strategic goals of the overall business
• Explains procurement and supply chain risk management, setting procurement regulation policies, and structuring procurement manuals
• Discusses digital solutions in procurement, securing investment for procurement function development, and the future of procurement
• Provides practical cases and examples to show how to put the described concepts into practice in your organization
• WAV features selected tables and a template for procurement function strategy development--available from the Web Added Value section of the publisher's website at jrosspub.com/wav

Table of contents

• Cover
• Title Page
• Copyright
• Dedication
• Contents
• Introduction
• Foreword
• Acknowledgments
• About the Author
• WAV™ Page
• Chapter 1: Procurement Spend: How Much Is Not a Lot?
• Chapter 2: Benchmarking: A Procurement Health Check
• Chapter 3: Action Plan: Strategy and Tactics
• Chapter 4: Category Strategies: A Magic Pill or a Recipe?
• Chapter 5: Procurement Savings: Everything You Did Not Spend
• Chapter 6: Procurement Organization Models: Centralize or Not?
• Chapter 7: Operational Efficiency: Processes Within Processes
• Chapter 8: Procurement Risks: Identify and Mitigate
• Chapter 9: Procurement Policies: Your Rules to Play
• Chapter 10: Digitalization Can’t Wait Any Longer
• Chapter 11: The Procurement Team: Who Are All These People?
• Chapter 12: Procurement of the Future: Dreams and Reality
• Chapter 13: What’s Next? Turning Theory into Practice
• Appendix: List of Recommended Resources and Literature