Seminar Best Procurement Practices
Fundamentals of Procurement Challenges & World Class Procurement - 33 mins
How 1 Dollar Saved in Purchasing Equals 6 or more in Sales - 5 mins
How to do ABC Analysis with Robi Bendorf - 20 mins
Becoming World Class in Procurement & World Class Practices
HOW TO USE WHAT YOU HAVE JUST LEARNED INTO YOUR PITCH
How 1 Dollar Saved in Purchasing Equals 6 or more in Sales
Question to ask:
Based on your CEO's opinion, what do you think will be his answer to the question: Which is more important sales or Procurement department?
Take Away:
Purchasing Plays an equally important role as sales. This shows how purchasing must play a strategic role in every organisation, since every dollar saved will contribute to the bottom line as if you have contributed 6 dollars or more in Sales. So the assumption here is that it is easier to achieve 1 dollar in savings as compared to 6 dollar plus in sales.
How to do ABC Analysis with Robi Bendorf
Question to Ask:
How many suppliers do you have? How much time do you focus on dealing with each of them?
Take Away:
A step by step process outlining how to actually classify your suppliers/inventory according to how much you spend, by focusing on the top spenders.