Understand how procurement impacts success

According to Accenture , procurement masters work with budget holders to drive towards global outcomes for the company , rather than merely focusing on their own work . They are , for example , increasingly a key part of functions such as product design . “ A dedicated new product design sourcing function – a unified effort with product engineering and sales – can protect new future revenue , reduce engineering time by 20 % and increase new business win rates by 10 %,” Accenture states .

What are your suppliers charging at this very moment ? What ’ s the level of draw-down against the contracts , and the cost base of the business ? You should be able to answer these questions at any moment to not only show that you can articulate the P & L impacts on the company as a whole , but that you understand the direct impact of your procurement team on the day-to-day business . There ’ s a benefit to drilling down on this strategy , too . Accenture notes that procurement masters are as much as 53 % more likely enter the c-suite if they have a handle on these wider projections and their implications . Achieve that and you ’ ll be granted more control on overall buying behaviours .

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