{"id":3192,"date":"2012-09-26T15:06:00","date_gmt":"2012-09-26T15:06:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2012\/09\/26\/the-procurement-funnel-a-groundbreaking-model-for-leading-procurement-to-improved-results\/"},"modified":"2021-07-06T08:41:55","modified_gmt":"2021-07-06T12:41:55","slug":"the-procurement-funnel-groundbreaking","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/the-procurement-funnel-groundbreaking\/","title":{"rendered":"The Procurement Funnel:  A Groundbreaking Model For Leading Procurement To Improved Results"},"content":{"rendered":"<p>In yesterday\u2019s NLPA members-only webinar, I introduced the groundbreaking model of \u201cThe Procurement Funnel<span style=\"font-size: x-small\"><sup> TM<\/sup><\/span>.\u201d\u00a0 Here\u2019s a little background on how I came up with the model.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>The sales profession has a very well-defined set of key performance indicators (KPI\u2019s) that are used across many, many sophisticated organizations.\u00a0 They also have a widely-used model called \u201cthe sales funnel.\u201d<\/p>\n<p>The principle of the sales funnel is that you start out with your potential for sales for a year.\u00a0 There are many steps in the sales cycle that reduce the amount of potential sales until the sales organization is left with its actual sales.\u00a0 The concept is like a funnel \u2013 big at the top (potential) and small at the bottom (actual).<\/p>\n<p>High-performing sales organizations use a handful of KPI\u2019s that help their leaders increase the amount of actual sales can come out of the funnel.\u00a0 When sales leaders focus on improving performance as measured by these KPI\u2019s, they get better overall, bottom-line results.\u00a0 It\u2019s sounds simple, but it works extremely well!<\/p>\n<p>Sadly, the procurement profession had no similar model\u2026until now!<\/p>\n<p>Let me show you what \u201cThe Procurement Funnel<span style=\"font-size: x-small\"><sup> TM<\/sup><\/span>\u201d looks like\u2026<\/p>\n<div style=\"clear: both;text-align: center\"><\/div>\n<p>The Procurement Funnel<sup> <span style=\"font-size: xx-small\">TM<\/span><\/sup>\u00a0 graphically represents how various factors influence the actual cost savings your organization can realize on its \u201cbottom line.\u201d\u00a0 It is designed to help procurement leaders focus on the critical factors and metrics that can help a procurement team reach its cost savings potential.<\/p>\n<p>If you\u2019re interested in a full explanation of the Procurement Funnel<sup> <span style=\"font-size: xx-small\">TM<\/span><\/sup> and how to implement it for better procurement results, consider enrolling in our four-part online Express Course series, \u201cProcurement KPI\u2019s &amp; Business Acumen.\u201d\u00a0 That series thoroughly covers the Procurement Funnel<sup> <span style=\"font-size: xx-small\">TM<\/span><\/sup> and how to use all of the relevant key performance indicators to create a compound effect that can truly maximize cost savings like no single metric can do on its own.<\/p>\n<p>To learn more about \u201cProcurement KPI\u2019s &amp; Business Acumen,\u201d please visit https:\/\/www.certitrek.com\/nlpa\/key-performance-indicators-for-procurement.php.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In yesterday\u2019s NLPA members-only webinar, I introduced the groundbreaking model [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - 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