Spend Less Time on Process, More on Cost Analysis

Procurement teams get a chance to shine when their company is making its most expensive purchases. They are often highly complex deals that will have a big impact on core business operations and require a high level of risk assessment and protection.

Teams invest significant time and resources to understand the reasons behind why the vendor is charging the costs it is, and also where this provides good value for the buyer. When Procurement spends this kind of time on a deal, it has a good understanding of where to push suppliers on costs, and where to spend a little extra to avoid deficiencies like quality failures.

Digitization Should Be a Revolution, Not an Evolution

Digitization is upending all parts of the world’s companies, from the nature of the goods and services they produce, to the way they provide them to customers, to the operations they use to make and sell their products.

Corporate functions are at the center of all this change; not only must they use their expertise to help their companies take advantage of digital trends (such as IT, strategy, and R&D teams) but they must also harness the opportunities this gives them to make the own teams more efficient and useful. For instance, less than two years ago, 70% of shared services teams said they hadn’t done any work with robotics — today, just 17% of functions fall into that category, according to CEB data.

6 Steps to a Successful Strategic Plan

 These Six steps will help managers create and communicate a strategic plan that aligns Procurement’s strategy with business priorities and secures executive buy-in.

1. Lay the groundwork: Start by setting expectations for the planning process. Determine who will need to take part and what their responsibilities will be — or what you’ll need from them.
   Typically, the chief procurement officer (CPO) will need to define and set the objectives and action plan, the CPO’s direct reports will need to build project proposals and estimate resource requirements, and category managers should conduct planning analyses and provide process- and activity-level input.
   You should also note stakeholders from outside Procurement that you’ll need to work with: for instance, the CEO or executive committee will need to approve the strategy and key investments, and Procurement will need to ask business unit leaders for their input on business strategy and on Procurement’s current performance.
   

Mr.Sunil Naik, Director of HR at DHL

Mr. Sunil Naik, Director of Human Resources at DHL Global Forwarding, paid the campus a visit for a session with the students of PGPB6. Through his vast industry experience, Mr. Naik has handled multiple functions in fields such as healthcare, retail, oil & gas and logistics. He's an alumnus of XLRI - Xavier School of Management, Jamshedpur.

Session 7

Our very 1st session of the 2nd trimester did strike the right chords with discussing topics that have substance in them. 

1. Abhishek Iyer took us to a long tour of the theory of constraints covering the below modules

• Analysed the concept of constraints and their behavior 
• Elaborated on Drum – Buffer – Rope 
• Demonstrated with an example - Box of candies
• Explained the types of plants Viz. V-A-T-I

2. Rishi presented on Omni channel Retail Management that covered,

•  Impact of supply chain on OCR
•  Benefits of Omni channel retailing
•  IBM on order management  

To Do :- 

The new entrants to GenOps club have been assigned a case to come up with feasible solutions.