This may sound easy to achieve but our study found 60% of companies do not actively manage risks, with the majority lacking resources and IT tools to ensure their Purchasing security – but this is exactly where external experts can begin helping.
Traditionally, Purchasing has been viewed as a cost-optimising department. But today, Purchasing protects the long-term competitive ability of companies through the safeguarding of supply and optimisation of processes. Above all, the ability to understand internal customers is essential – and once understood, to procure what they need from the right supplier.
Ultimately the goal is better long term risk management and by establishing Purchasing strategy as a reason for success, companies can improve their performance. In fact, the aforementioned 13% increase in efficiency is achieved when long term investment in Purchasing resources is made, resulting in improved transparency, improved knowledge transfer and further development of the tools used.
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If you would like to know more about how ERA can help you, please explore our website or contact us today.