Sourcing projects can only be fully successful if they are implemented effectively with attention to detail as well as the bigger picture, say procurement consultants Efficio.
In its latest Viewpoint article Efficio says strategic sourcing projects usually represent a big investment of resources involving large parts of the organisation involved, from sales through to operations.
The Viewpoint, The devil's in the detail: great results depend on sound implementation, says that to protect the investment and achieve ROI objectives, top management need to make sure that an appropriate savings implementation strategy is set up.
Efficio Principal Fabio Sona explains: "It's human nature to think that if a project is well enough planned it will look after itself. Clearly, this is a big mistake. Real success will only be achieved if the project is not only well planned but also expertly executed."
He says there are certain key principles to sound implementation. The project must be aligned with the objectives of the business as a whole. A pragmatic, agile approach is desirable: savings strategies need to capture short and medium term trends in demand, quickly changing priorities to anticipate cash benefits.
Effective project management is essential and a coordinated effort is required to make sure that workstreams run consistently and on time and that benefits are properly accounted.
A programme manager, ideally the CPO or someone belonging to their staff, should coordinate implementation plans, run progress meetings, set priorities, report to the CEO and sort out potential clashes among workstreams or organisational issues as necessary.
An effective communication strategy must be in place to keep strategic objectives clear, maintain motivation and eliminate any potential “can't do/it’s too difficult to change” attitudes.
Sona concludes: "Protecting return on investment (ROI) and maximising the benefits of a strategic sourcing programme is imperative for every CEO. As at corporate level, is not enough to set a good strategy: the way it is implemented makes the difference."
Notes to editors
The devil's in the detail: Great results depend on sound implementation can be downloaded from:
Efficio is a results-focused procurement consultancy with a track record of helping leading organisations achieve more value from their procurement. It is headquartered in London, UK, and has offices in France, Germany, Switzerland and the US.
Efficio combines the credentials of a top tier firm with the depth of expertise of a flexible niche player. Clients include 3i, AstraZeneca, Barclays, BAT, Biffa, British Gas, Ford, Scandic, HSBC, KKR, Nokia, National Grid, O2, Tryg and Thames Water among others.
For more information please contact:
Georgina Golding, Marketing Manager, Efficio, on:
+44 20 7550 5681 or email@example.com
For further information on Efficio please see: www.efficioconsulting.com
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