The sourcing and procurement process is a critical business function that has significant and direct impact on bottom-line performance and supply chain management solutions.
Procurement spend can account for as much as 50 percent of an organization’s total annual
expenditure. Savings attained through an effective strategy of sourcing and procurement processes enable companies to reinvest in growth, personnel, services, facilities and equipment to drive improved performance.
As a result, companies are challenging their procurement teams to play an increasingly important role in managing spend and optimizing end-to-end sourcing and procurement processes across the company.
With the numerous external challenges that can affect your organization every day, tools
and solutions to enable optimal remote work can help minimize or prevent disruption in your sourcing and procurement operations. We provide you with the services and solutions needed to place a supply chain strategy in your sourcing and procurement processes. Through sourcing and procurement, supply chain services can drive value and improve supplier relationships.
Holistic Sourcing and Procurement Approach
We have developed a holistic approach to sourcing and procurement that combines strategy, governance and execution to drives benefits and improve solutions over time.
A key tenet of our strategy is balancing direct savings initiatives with building world-class, sustainable procurement capabilities within a company’s procurement processes, organizational structures, and technology solutions.
It is not enough to drive one-time savings. It is more important to establish effective capabilities and solutions within a procurement organization to achieve continual savings.
Our Sourcing and Procurement Services capabilities include:
Sourcing and Procurement Transformation
We work with clients to successfully transform sourcing and procurement departments to meet internal and external needs.
We use a proven phased approach to address key components of the sourcing and procurement transformation, starting with an experience-based assessment and followed by parallel delivery of savings and sustaining capabilities.
We then work with you to develop and implement a roadmap to successfully streamline solutions and improve the business process.
Spend Analysis and Opportunity Assessment
We work with our clients to understand spend categories and identify strategies to reduce costs.
Procurement services cover a broad array of spend and subcategories with specific importance varying by industry and organization.
Segmenting spend and applying the appropriate category management and sourcing strategy is critical to cost reduction and procurement organization success.
Strategic Sourcing Services
We understand the challenges of strategic sourcing and procurement to help companies align their strategies with the goals of the enterprise.
We create flexible frameworks to respond faster in volatile market conditions.
This flexibility in sourcing and procurement operations plays a key role in a company’s ability to respond to the evolving needs of customers.
Procure To Pay Process Improvement
We understand that procurement transactions need to be fast, error-free, and dependable.
We show organizations how to gain full visibility over the lifecycle of a transaction and make procurement improvements for positive change.
This is achieved through services that analyze performance against best practices, discover gaps and develop a roadmap to optimize the procurement process and gain business value.
Contract Management and Compliance
We help clients control spend and ensure contract compliance through the development of measures and controlling activities.
Our sourcing and procurement experts combine diverse industry backgrounds with current industry benchmarking data to identify cost savings and manage risk associated with poorly written contracts.
Supplier Management and Partnering Programs
Three critical supply chain measures are quality, cost and time. Each of these measures can be improved through the proper management of suppliers.
We help clients identify the proper type of supplier relationship for purchase and develop recommendations and services to improve these measures.
Governance and Organization
A key attribute for world-class procurement operations is a strong and user-friendly set of policies and procedures as well as the controls to monitor them.
We use a spend-centric procurement approach to help our clients define the appropriate structure (centralized, decentralized, or central-led) for core spend categories.
Our sourcing and procurement experts also help define the roles and responsibilities of various stakeholder groups that manage spend across your organization.
We work with clients to select, configure and implement software solutions to optimize their value chain.
Our experts gain a deep understanding of your technology needs and develop a high-level application architecture along with supporting requirements
As a part of this architecture, we help you realize the benefits of past and future technology investments – like sourcing tools and services, procure-to-pay solutions, and contract management.
An effective sourcing and procurement strategy needs an end-to-end perspective
Although many companies have initiated sourcing and procurement solutions and improvement programs in the past, many continue to face significant challenges in attaining and sustaining procurement savings. Challenges found when sustaining procurement savings include:
- Attaining accurate and complete visibility of spend across company
- Leveraging scale across diverse divisions and operating groups (purchasing power)
- Segmenting spend and applying the appropriate category management and sourcing strategy to each category (centralized, central-led, decentralized)
- Outlining clear ownership, accountability and fiscal responsibility on spend management
- Driving efficiency and effectiveness of procure-to-pay processes and services as well as clarity of roles and responsibilities
- Managing risks associated with poorly written contracts
- Controlling spend and ensuring contract compliance across the organization
- Realizing benefits of past and future technology investments
- Building and retaining procurement skills and category expertise in strategic spend areas
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Our Operational Excellence Services
We collaborate with you to improve, transform or automate your operations and optimize key capabilities and value streams to achieve desired business outcomes.
From the start of the company, we have simply been about doing great work for clients. We care about results as much as our clients and create an unrivaled environment for our employees. I get to do the work I love every single day with the people I love spending time with. That is Centric.
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“We are made up of individuals from different backgrounds and experiences with an array of ideas and working styles. We strive to embrace this diversity and leverage it to better our Centric community as well as to increase our delivery capability to our clients. We talk about creating a company that’ll last 100 years…I have no doubt that will happen.”