For transparency within companies, they need to start using the real-time view of spending and readily assess information on unit costs by site and supplier. This provides a baseline for identifying opportunities to save costs or leverage procurement synergies across the manufacturing process.
To drive scale and efficiency across the network, the procurement organisation needs a clear structure for decision-making and rules on decision rights related to buying and spending. This clarity is especially valuable to address the complexity of decentralised site-level purchasing.
Organisations that reach a high maturity level for spending visibility and control can create tremendous value. And, because these improvements do not alter the related manufacturing processes, a company can capture this value without the need for lengthy regulatory reviews.
Procurement and Sourcing transparency is key to unlocking new opportunities … how transparent is your business?
