Mark Shaw and James Yearsley, UK members of Deloitte's procurement group of more than 500 professionals globally, provide an overview of the range of means by which organisations can increase the value of their procurement function.

They look at: 

• leveraging the supply chain to release cash
• leveraging internet-based technologies to improve transaction and management communications
• operational improvements in the sourcing part of the procurement cycle
• generating savings, through contract compliance, in the buying part of the procurement cycle.

With regard to operational improvements in the sourcing part of the procurement cycle they focus in particular on shortening the assessment process, development of the sourcing strategy, management of the tendering process, negotiation of favourable contract terms, effective deployment of the contract and demand management.

They outline the results of their research in identifying six factors key to maximising financial benefit thorough procurement, as well as the tools and processes which enable procurement activity to be monitored effectively.

To read their overview in full, download the attached document.

Attachment:
Creating value through supplier relationships (PDF, 1461KB)
Deloitte UK report