For any organization, procurement is an essential business process. However, most of the organizations face the challenges in this area. They will have either internal constraints on adequate procurement resources or limitations of internal capabilities to undertake effective procurement processes. These hold back the organizations on the urgency of delivering procurement Key Performance Indicators.
To address these challenges, Sourcing Procurement, a promising procurement solution provider, is involved in providing On-Site/Remote and Virtual Consultancy in Procurement/ Supply Chain domain. The company has successfully completed several consultancy assignments for clients in pharmaceuticals, veterinary, auto-ancillary, engineering, lubricants, and e-Commerce sectors.
“Our objective is to help organizations by sharing best practices to reduce in Total Cost of Acquisitions of Goods & Services, and gain value for every money spent in the procurement process”, says Tapan Shah, the Founding Director at Sourcing Procurement. The company provides prospective solutions to ensure that end-to-end supply chain is correctly balancing the metrics of cost and service throughout Procurement, Production, and Distribution.
The company has a proven track record in undertaking the Category Management projects for identified spend area and delivering the projects in line with mutually agreed time bound deliverables. Sourcing Procurement believes in creating leaders and empowering teams in the
procurement fraternity, and offers training & mentoring of procurement team members to the client organizations to achieve the business deliverables applying category management process.
The company also provides 16 hours class room training that gives exposure to the category management process to the procurement team of the clients. Sourcing Procurement now supports SMEs by providing virtual leadership to their procurement teams remotely with accountability of Target Delivery which eliminates the need of hiring a Full-time Procurement Head by these SMEs.
The company believes in following a proven global approach of Category Management to manage spends on all categories with the approach of 'How to Buy'. They share such best practices with customers which help them to streamline the procurement process and establish some methods in the madness. The other areas of consulting include Supply Chain Finance to improve cash-flow for the clients, as well as their suppliers and In-plant Logistics helping to improve plant efficiency. They also provide Functional Leadership in the event of sudden loss of Procurement Head in the organization for any reason. By offering this service, the functional continuity is maintained until the new recruit is put in place by the client organization.
Sourcing Procurement has an enviable reputation in supply chain and procurement space. For instance, the company recently worked with a client Manufacturer of Industrial & Automotive Lubricants that was struggling to improve its SCM efficiency. They also had less time and limited budget to invest.
Our objective is to help organizations by sharing Practices to reduce in Total Cost of Acquisitions of Goods & Services, and gain value for every money Spent in the procurement process
With the help of Sourcing Procurement’s training and consulting services, the client was able to improve the SCM efficiency without any investment. As per the company’s advice, the client used the 'power of data' and followed 'measure what needs to be managed' approach to achieve success. In a span of six months, the client witnessed 25+ process improvement initiatives across Demand planning, Supply planning, Warehousing, Logistics, and Primary distribution (with potential annual savings of Rs.50 lakh).
Having carved a niche in the procurement sector, Sourcing Procurement is poised for a bright future. The company is all set to expand its services across various industries in the coming year. “We will continue with our training and consulting services. We are also planning to add certification programs that will help clients enhance internal capabilities in procurement and supply chain processes”, concludes Tapan Shah.
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