Procurement is no longer simply about cost reduction. In the contemporary market, it has transformed into a strategic endeavour that links external suppliers with the demands of internal stakeholders, while also keeping organisational objectives in mind. The complexity involved in the procurement process has resulted in many organisations opting for sourcing consultants.
Procurement consultancy is a specialised field that develops sourcing capabilities and strategies to help in-house teams meet their goals. In a saturated and competitive market, finding the right consultancy is not an issue – but ensuring that the partnership works out is a different matter altogether.
Here we have compiled some tips to ensure that client and procurement consultants achieve the results envisaged in their partnership.
Client managers should highlight project benefits from the very beginning, as well as methods to measure these benefits quantitatively and qualitatively. If a comprehensive methodology to assess project benefits is not established at the outset, it could result in compensation disagreements.
Align objectives with organisational strategy
Client managers have to ensure that the objectives of the project are in sync with the organisation’s strategies. This ensures that the business gets a tailor-made solution to meet its sourcing needs. As a result, it will help implement the solution successfully while minimising internal resistance.
Utilise lessons learnt
Client managers who capitalise on lessons they have learnt from previous delivery models will be more successful in implementing their strategies and ensuring optimal outcome for the organisation. This will help the enterprise get the best pricing model and specifications based on their requirements.
Make sure that the consultants forge a meaningful relationship with important internal stakeholders. Not only will this interaction allow the consultancy to understand the decision makers and their objectives, but this will also let the consultancy build its credibility.
Client managers and the consultancy should work together on project milestones to stay within their budget and deliver results that were charted at the beginning of the project. This will ensure the best results for the organisation as well as the procurement consultancy.
Ed founded Odesma in 2014 with the explicit intent of creating a new kind of procurement consultancy founded entirely on cloud principles. Deploying best-of-breed subject matter experts alongside the best on demand technology to deliver rapid and effective change for customers.