This October, the Future of Sourcing Awards will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.
Can you outline why your team embarked on this project and the problem that needed to be solved?
How were things done originally and what was the inspiration to innovate the process?
What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)
- Achieving financial savings and effectiveness in contracting procedures
- Reducing wastes in operations & processes
- Reducing procurement budget value
- Accelerate service contracts processes cycle time
- Raise satisfaction rate
- Increase productivity
- Effectiveness & efficiency in day-to-day operations
- Ensuring adoption of Governance framework
- Adopting new procurement culture
- Improving skills & knowledge of Tender Officers
- Improve Customer Experience
How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?
What advice do you have for those who may want to implement this innovative approach in their own organizations?
The revolution of technologies in the world of communication and information constitutes one of the prominent titles of the current historical stage of human history due to the massive spread of the use of the Internet. This has led to the development of the concept of electronic contracting through the use of electronic means via the Internet and technology. Which calls for chang the concept of existing traditional procedures into dynamic, self-access procedures that allow frequent digital interactions and frictional dynamics to build deeper relationships with its internal and external customers than ever before, and to meet customer needs the moment they arise -and sometimes sooner.
So, the golden advice for everyone who wants to make those changes is a preparation of strategic roadmap to improve procurement procedures, in order to achieve a broader participation in the procurement and supply operations and work on different dimensions with the aim of identifying weaknesses in the current procedures, and suggesting an operational strategy that is feasible and capable of raising efficiency by using transformational technologies.
With innovations in digitization occurring very quickly in our industry, how do you see this specific project further transforming in the future?