Every single year all companies face the budget planning cycle. At company level, this is defined as the revenue target, the costs and expenses to run the company, and, the profitability for the following year. In a perfect world this process should be two-way street where the corporate leadership defines the targets with functions and […]
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Wikipedia explains that the term benchmarking was first used by shoemakers to measure people’s feet. They would place someone’s foot on a “bench” and mark it out to make the pattern for the shoes. Today’s definition of benchmarking: “It is the process of comparing one’s business processes and performance metrics to industry’s best practices”. In my last […]
A 19th century quotation from Lord Kelvin, who was an Irish-born British engineer, is still valid today: “If you cannot measure it, you cannot improve it”. Metrics are developed in each field in order to help measure performace of a current situation. The metrics are the key elements of KPI – Key Performance Indicator. This is […]
According to Warren Buffet: “Risk comes from not knowing what you are doing”. A good example of knowing what they are doing comes from the Insurance industry. They measure and track all kinds of risks they may have before defining a premium for an insurance policy. We have good references from American National Standard for […]
AT. Kearney developed a methodology called AEP – Assessment of Excellence in Procurement where 185 leading companies describe lessons learned in search for Effectiveness and Efficiency for Purchasing function. It describes how these companies found Seven Ways to Lasting Results. PM2 Consulting provides the core competencies to achieve these results.
CPO Agenda from Hackett Group describes the top key issues Purchasing function is facing in 2012. Again, this study reinforce the need of having Strategic Sourcing, Category Management and SRM in order to have a more effective and efficient organization. PM2 Consulting provides work process and tools and these areas.
Excellent article showing the key steps for a Strategic Sourcing and main concerns from CPO’s. It describes eSourcing, Spend Analysis, Project Management, Contract Management and capabilities from SAP on demand. I agree with the main conclusion that companies with established Strategic Sourcing process in place present higher savings. PM2 Consulting can offer Strategic Sourcing process […]