Building an Effective Procurement Organization

Building an Effective Procurement Organization

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Best Practices for World-Class Performance
Iryna Povoroznyk
Hardcover, 6×9, 280 pages
ISBN: 978-1-60427-196-6
e-ISBN: 978-1-60427-850-7
May 2024

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Description

Effective procurement management is essential for any organization looking to reduce costs, improve quality, and increase profitability. Building a truly effective procurement organization is a challenging multilayered effort that requires establishing a solid base for the deployment of best-practice solutions and ensuring long-term benefits from sustainable procurement operations.

Building an Effective Procurement Organization presents essential steps for advancing procurement practices to a world-class level, describing the fundamentals of procurement management and how to build a solid foundation for success. Povoroznyk emphasizes the importance of mastering the basics before diving into more complex procurement concepts. With clear explanations and practical examples, this invaluable resource is for anyone looking to develop their procurement management skills and enhance their organizations’ purchasing power. For entrepreneurs and suppliers, this book will become a source of insider information about the structure of the procurement service of their corporate clients and the tasks that owners and managers of companies set for buyers.

Key Features

  • Thoroughly explains all aspects of procurement management, beginning with benchmarking and category management and concluding with team collaboration and change management
  • Provides an overview of world-class procurement management best practices and applicable tools
  • Defines the strategy and tactics for executing a successful procurement department transformation, including team building and employee motivation
  • Describes how to build a custom procurement organization structure to meet the strategic goals of the overall business
  • Explains procurement and supply chain risk management, setting procurement regulation policies, and structuring procurement manuals
  • Discusses digital solutions in procurement, securing investment for procurement function development, and the future of procurement
  • Provides practical cases and examples to show how to put the described concepts into practice in your organization

About the author(s)

Iryna Povoroznyk is an expert in strategic organizational transformation, operations management, digital platforms, ERP implementation, change management, and strategic sourcing and procurement. For the past 15 years, Iryna has managed the procurement of one of the largest companies in the metals and mining and energy sectors. She has a proven track record of building highly motivated teams and implementing successful large-scale transformation projects that are considered a best-practice benchmark by industry peers.

A frequent guest speaker at industry events, Iryna has developed procurement education courses for both the public and private sectors in Eastern Europe and lectured on the subjects of procurement transformation, procurement/supply chain efficiency, planning, IT/ERP systems, and digital applications in the supply chain. Iryna has conducted procurement initiatives in 10 countries during her career, exposing her to diverse cultures and business practices in Asia, Europe, the Middle East, and the Americas.

Table of Contents

Foreword
Acknowledgments

Chapter 1: Procurement Spend: How Much Is Not a Lot?
Chapter 2: Benchmarking: A Procurement Health Check
Chapter 3: Action Plan: Strategy and Tactics
Chapter 4: Category Strategies: A Magic Pill or A Recipe?
Chapter 5: Procurement Savings: Everything You Did Not Spend
Chapter 6: Procurement Organization Models: Centralize or Not?
Chapter 7: Operational Efficiency: Processes Within Processes
Chapter 8: Procurement Risks: Identify and Mitigate
Chapter 9: Procurement Policy: Your Rules to Play
Chapter 10: Digitalization Can’t Wait Any Longer
Chapter 11: The Procurement Team: Who Are All These People?
Chapter 12: Procurement of the Future: Dreams and Reality
Chapter 13: What’s Next: Turning Theory into Practice

Appendix: List of Recommended Resources and Literature
Index

Reviews

“Whether you manage procurement, are in procurement, or want to learn more, Iryna has written an essential work. As a lifelong career procurement professional, I found this book to be a clear practical guide for those unfamiliar with procurement and a great guidebook for the professional. This should be on every buyers desk.”
—Tom Linton, Senior Advisor, McKinsey & Company

“Bold, vivid, and practical… this book shows the unique challenges facing today’s procurement teams and provides effective solutions without diving into the ocean of theories and concepts. Thanks for another tool from a pro for the buyer’s desk!”
—Oleksandr Vodotyka, Regional Director Procurement, East Europe, DS Smith, Founder of “Practitioners for Practitioners”

“If you are facing the task of building or transforming a procurement function, this book is your roadmap. Iryna does not limit it to her own experience but supplements it with practical cases and links to international research, which also makes it great reference material.”
—Andrey Polygaev, Procurement solutions expert

“CEOs, CPOs, suppliers, and buyers can all learn from this book. It details how to build a strong procurement base before jumping into advanced concepts. This invaluable guide explains the importance of this role within a company and shows the connection between routine activities and the strategic, long-term value that procurement can create.”
—Maryna Koltsova, Director, Alvarez & Marsal

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