How to Improve the Procurement Process & Increase Cost Savings
A play-by-play for improving the efficiency of your procurement function and increasing the rate at which your organization saves money.
Increasing Procurement Efficiency
Over the course of the last few years, procurement has become the backbone of organizations around the world, notably reaching across the aisle to partner with other functions in ways that have helped entire businesses become successful.
In addition to their efforts to connect and work well with other functions, a recent survey found that 78% of CPOs are most concerned with finding ways to reduce costs and improve efficiencies throughout the procurement process. Rather than sticking to the traditional view of procurement, however, industry leaders are looking for savings and value in a way that goes beyond just improving the bottom line.
Procurement is on a mission to streamline the purchasing process, remove bottlenecks, improve relationships, realign itself with the organization’s goals, and celebrate its successes along the way.
Una Can Help
Our mission at Una is to empower procurement to find the comprehensive savings solutions it seeks by providing sourcing professionals with the resources they need to accomplish their goals.
Our tools can help you simplify the processes that sometimes hinder procurement, and find innovative ways to deliver value.
This playbook will show you how to improve the efficiency of your procurement function and increase the rate at which your company saves money, all while elevating procurement’s influence across your organization.
This is your template for improved procurement.
See What's Inside:
- An in-depth examination of the procurement process
- Tips on how to improve the procurement process at each juncture
- How GPOs work to enhance procurement efficiency and effectiveness
- An inside look at Una’s process and how our team quickly delivers comprehensive savings solutions and value
How to Improve the Procurement Process
Recent data collected from current Una members indicates that one of the main pain points procurement professionals are experiencing is the length of time it takes to realize cost savings. This is especially true when it comes to indirect spend categories like shipping, packaging, office supplies, and facilities maintenance, where they’re finding it harder to negotiate fair prices on their own, or lack the category knowledge to manage the segment of spend effectively.
The drawn-out procurement cycle, coupled with a severe lack of resources when it came to staffing and category knowledge, left nearly 60% of respondents feeling the pressure to deliver cost savings and value in a timely manner.
Luckily, there are ways to improve steps within the procurement process that cut down on the amount of time it takes to source goods and services, elevates procurement efficiency, and increases your speed to savings.
Hashing out each step of the procurement process seems cumbersome but making small changes here and there can make a big difference in how much time you’re spending trying to find the things you need to successfully run a business.
Having the right conversations (with the right people at the right times) and investing in technology where appropriate is bound to simplify the purchasing cycle for you and your team. Your efficiencies can also be brought to the next level by joining a GPO and taking advantage of the power of group purchasing.
The Una Difference
Una’s sourcing advisors and member experience team are passionate about helping procurement and business leaders save money, time, and effort.
When you decide to work with Una, you’re choosing a partner in procurement. Our process is fast and seamless, and can be applied to almost any category of spend.
We provide an “in” so every organization can save big on the items they need, and follow up with resources that improve the sourcing process, increase procurement efficiency and effectiveness, and deliver comprehensive savings solutions.
Download your free copy to learn more.