Advisory

Procurement Assessment

The most critical step in transformation is to evaluate the roots of the of existing capability.
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Dynamics Of Procurement Proficiency

Dynamics Of Procurement Proficiency

Implementing Deep Behavioral Change Based On The Principles Of Each Businesses Unique Culture

Velocity maintains world class benchmarks for nine key dynamics of successful procurement organizations across people, process, and technology that help to identify your level of capability and establish the right continuous improvement program specific to your business.

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Procurement Assessment

Assessment Activites

  • 01

    Review

    Review procurement and technology utilization

  • 02

    Execute
    Execute stakeholder interviews and conduct survey

  • 03

    Facilitate
    Facilitate cross functional workshops

  • 04

    Develop
    Develop a detailed gap analysis

  • 05

    Determine
    Determine the people – process – technology recommendations

  • 06

    Identify
    Identify the key areas for improvement (instruments of change)

  • 07

    Define
    Define the procurement change charter and business case

  • 08

    Implement

    Develop the implementation plan and roadmap

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    Focused Appraisal for our Nine Dynamics

    As with our clients, you will see tremendous value in the proficiency assessment because it will not only affirm your theories, but will also uncover new areas for improvement you may have not considered previously.

    PERFORMANCE

    Deploy a balanced procurement scorecard to fully measure value to the organization. Focus is on procurement metrics, supplier metrics, use of data, compliance management and use of benchmarking.

    ORGANIZATION

    Division of organizational responsibility and it’s operational alignment and effectiveness. Focus is on organizational structure & alignment with business demand, integration with procurement process and staff capability.

    CULTURE
    Ability to influence corporate change in policy, process and performance. Focus is on mandate vs maverick purchasing, influence of change, level of cross-functional collaboration, team work & values.

    GOVERNANCE
    Structured oversight including procurement policy and regulatory compliance. Focus on use alignment of corporate strategy, use of formal steering committee, supply chain innovation, integration of best-practices and the procurement operating model.

    SOURCING
    Formal strategic sourcing process providing a holistic approach to driving cost savings. Focus is on use of spend and category analysis, use of market intelligence, RFx facilitation, formal supplier qualification and negotiations, contract management and line of business integration.

    BUYING
    Operationalized procurement process that leverages automation and best-practices. Focus is on the purchase requisition; order process, invoice payment processing and use of automation, utilization of catalogs, supplier portals and other innovative buying techniques.

    SUPPLIERS
    Formal supplier management program focused on compliance and risk mitigation. Focus is on supplier participation and prioritization, use of strategic alliances, approach to supplier diversity and approach to continuous improvement and innovation.

    STRATEGY
    Review operational and financial planning in order to achieve new supply chain value. Focus is on the use of spend portfolio strategies, strategic vs tactical segmentation and planning, split of direct vs indirect procurement, and…

    TECHNOLOGY
    Operational systems strategies in place with cross-functional business alignment. Focus is on the use of procurement systems, master data management, ERP integration, solutions efficiency and effectiveness.
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    My latte spend, friend or foe?
    Insight

    My latte spend, friend or foe?

    My latte spend, friend or foe?

    “But if the budget is balanced, what does it matter?” I say to my patient new husband who has found my hidden stash of lattes.  Let’s back up a bit…
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    Leverage Procurement Assessment Towards Increasing Capability & Value
    Infographic

    Leverage Procurement Assessment Towards Increasing Capability &#038…

    Leverage Procurement Assessment Towards Increasing Capability &#038…

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    Taking the Custom Approach

    In some instance, procurement organizations have achieved a certain level of maturity or have excelled in some areas of their business, but still need some degree of support in expanding their capabilities.

    Process Assessment

    Velocity works with your key business process owners to identify, map, and define where you are, where you want to be, and the actions that will help to bridge any gaps. Velocity then provides detailed recommendations and best practices specific to your business and your industry to take into consideration for the process re-design. Our approach upholds your procurement organization’s structure and provides the basis for Velocity’s transformation services.

    Tech Assessment

    Is your existing technology meeting the procurement needs of your organization? Velocity will assess the functionality, process, and procurement scope of your organization to develop recommendations for your current technology or help you assess what will be needed for your optimum future state. This assessment is a useful tool early in the Transformation Journey

    Skills Assessment

    Digital transformation will never replace your most valuable resource, your people. The Capability Assessments will provide you with an in-depth understanding of your organization’s procurement true maturity and how the people will activate the technology to meet your automation goals. Including this assessment as part of the transformation takes the project to the next level.

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    Procurement Potential
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