Financial Operations or “FinOps” are essential in procurement as they help to ensure purchases are made within budget and that all financial transactions are properly recorded and tracked. Organizations that have integrated procurement and finance functions report an average cost savings of 12.7% according to Ardent Partners. Ardent also found organisations with effective financial management …
Butler Caroye Managing Director Tony O’Connor discusses the importance of considering “tender intangibles” when selecting a supplier through a tender process. I’ve been managing travel tenders for corporates and governments for 25 years now. As well as all the assessment criteria, all the weights and scores, and all the KPIs, questions, offers and answers, there …
Data analytics is quickly becoming a powerful tool for improving procurement and supply chain performance. By leveraging the power of data to gain new insights, companies can optimize their operations in ways that were not possible before. But how do you use data analytics to get the most out of your procurement and supply chain? …
How To Improve Procurement And Supply Chain Performance With Data Analytics Read More »
New EU rules have signalled a new era for ESG reporting with large companies required to publish official reports on social and environmental performance. Entering into force on 5 January 2023, but to be reported from 2024, the Corporate Sustainability Reporting Directive (CSRD) strengthens the rules about the social and environmental information that companies have …
An overview of the EU’s new sustainability reporting obligations Read More »
BHP’s Local Buying Program has reached a $1 billion milestone for procurement with small, local, and Indigenous businesses across regional Australia since its launch in 2012. The mining giant says its program has helped almost 1,600 small businesses join the BHP supply chain, involving over 67,000 work packages. BHP’s Local Buying Program makes it easier …
BHP’s local procurement reaches $1 billion milestone Read More »
The perception of procurement is often limited by external factors. This can stem from stakeholder experiences or procurement’s internal branding, which includes the communication of their values, voice, and tone. Katherine McCleery, a marketing and branding expert with extensive experience working with procurement services and SaaS companies, recognises the significance of a strong brand and …
Podcast: How to Know When Procurement Needs a Rebrand Read More »
Nearly half of CPOs are making permanent changes to their supply chain this year as a result of external developments. Procurement Leaders’ CPO Compass 2023, in partnership with GEP, revealed 43% of CPOs have already started to make permanent changes to their supply chain as a result of recent events. Just 6% of those surveyed …
A push for more cost-effective near-shoring, an increase in companies buying or investing in part of their supply chain, and more use of procurement to increase top-line sales are among the key trends for 2023, according to Spend Matters. Intelligent near-shoring Near-shoring has been a consistent theme of 2022. However, there has been a growing appreciation …
Human rights organisations and academics are urging the Australian government to revamp the country’s modern slavery laws. It follows a new report which reveals that two out of three companies are still failing to identify and address obvious risks of modern slavery in their supply chains. The report, “Broken Promises: Two Years of Corporate Reporting …
“Sweeping and broad reforms to government procurement” have been announced in South Australia under a multi-million dollar plan to build public homes from materials manufactured in its home state. Under the announcement the government has mandated “South-Australian manufactured products must be used on public housing construction and maintenance programs, where available.” The SA Government says …
