The Need for Tangible Procurement Consulting Services for Your Company

Posted by Ankit Kohli on November 3rd, 2016

Often, you and your staff will be too busy running the business and ensuring the smooth flow of internal company processes—and there is never enough time to look at the company’s efficiency when it comes to procurement matters. Even if you do recognise that there are flaws in your procurement system, you may find it difficult to generate intelligent and efficient solutions on your own. This is where it makes sense to hire professional procurement consulting services that can help you identify key problems in your supply chain and create solutions that could improve your procurement process in the long run. Hiring an external organization that can oversee your procurement processes and develop strategies to improve them may help your company thrive and become successful in the long run.

Procurement consulting services can find and point out the weaknesses in your supply chain, and help create the best solutions for them. Apart from that, hiring a procurement consulting service can provide exceptional support to ensure the sustainability of your supply chain while helping you strengthen relationships with suppliers. These days, supply chain sustainability is affected not only by the reputation of suppliers, but also their financial performance. A procurement consulting service can aid chief procurement officers in making sure that they can maintain a proactive approach to monitoring and evaluating the performance of the supply chain.

The need for reliable procurement consulting services increased with the provision of the latest GRI G4 guidelines, which increased emphasis in reporting the performance of a supply chain. Some companies will be content with providing sustainable procurement guidelines, which contain expectations from their suppliers based on typical sustainability parameters to serve as a basis for screening would-be suppliers. Procurement consultants can help your company conduct periodic and thorough assessments of every supplier and talk to them about sustainability issues to boost their performance, too.

Seasoned procurement consultants have their own comprehensive framework, which they use to assess the sustainability of the supply chain by assessing suppliers across geographies and industries. Through procurement consulting services, your company can easily determine if a supplier can comply with standards related to governance, social, and environmental parameters. Likewise, you can be sure that you have the best-in-class approach to assessing the efficacy of initiatives, policies, and strategies of suppliers to achieve their sustainability objectives.

About the Author:

Pure Research Private Limited (Pure Research) provides customised research and business intelligence to leading corporates, public sector organisations, financial services firms, and professional services firms. The company specialises in providing high quality procurement and supply chain intelligence to CPOs and procurement professionals worldwide. Analysts from Pure Research work as an extension of its client’s procurement teams to deliver high quality insights on suppliers and supply markets. The company has offices in London, U.K. and New Delhi, India.