{"id":11034,"date":"2021-03-31T09:37:02","date_gmt":"2021-03-31T13:37:02","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/?page_id=11034"},"modified":"2021-10-05T10:58:14","modified_gmt":"2021-10-05T14:58:14","slug":"value-creation-ideas","status":"publish","type":"page","link":"https:\/\/www.certitrek.com\/nlpa\/news\/purchasing-articles\/value-creation-ideas\/","title":{"rendered":"Value Creation Ideas"},"content":{"rendered":"

10 Procurement Value Creation Ideas, Part I<\/h1><\/div><\/div><\/div>

How Can Procurement Create Value Beyond Cost Savings?<\/h2><\/div><\/div><\/div>

Here are the first of 10 procurement value creation ideas we\u2019ll be sharing in this two-part series:<\/p>\n

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  1. Speed Up \u201cTime To Customer.\u201d<\/strong>\u00a0Identify products or services that your organization provides to its customers where time to delivery\/completion is important to the customers. Identify purchased products and services that are part of, or support, what is provided to the customer. Then, identify ways to speed up your supply base\u2019s delivery of those purchased products and services so that your organization can serve its customers more quickly.<\/li>\n
  2. Improve Quality To The Customer.<\/strong>\u00a0Identify products or services that your organization provides to its customers that do not consistently meet customer quality requirements. Identify purchased products and services that are part of, or support, what is provided to the customer. Then, identify ways to work with your supply base to improve the quality of those purchased products and services in a way that will improve quality as measured by the customer.<\/li>\n
  3. Improve Efficiency Within The Organization.<\/strong>\u00a0Identify the resources and time involved in each of your major procurement processes. Identify ways to reduce the number of steps, participants, and time required to complete those procurement processes without sacrificing quality or integrity. Also identify processes whose timelines are influenced by supplier performance. Identify how these processes can be made more efficient through better supplier performance or reengineered approaches to interacting with suppliers.<\/li>\n
  4. Funnel Innovative Ideas Into The Organization.<\/strong>\u00a0Employees in your supply base observe the best practices in your industry and may have innovative ideas to share. Solicit, vet, and introduce their innovative ideas to your organization.<\/li>\n
  5. Minimize Risk.<\/strong>\u00a0Identify the most critical products and services your organization purchases. Identify all of the reasons your supply of those products and services can be disrupted. Then, identify the actions you can take to prevent supply disruptions and recover from supply disruptions if they still end up happening.<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/div><\/div>
    Do You Want a More Rewarding Procurement Career?<\/h5><\/div>
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    A lot of your peers are on track with pursuing professional success. They\u2019ve begun to enjoy the value of NLPA Learning, our learning platform for procurement professionals from around the globe. NLPA Learning includes many types of materials that will help purchasing and procurement professionals stay up-to-date with information on trends and procurement best practices.<\/p>\n

    Download our NLPA Course Catalog for a comprehensive list of the CPO Certification Programs and their corresponding modules per level.<\/p>\n<\/div>

    Download<\/span><\/a><\/div>