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Procurement: not just about cost savings

Cost reduction is important in any business, especially during a pandemic when uncertainty is high and spending reduced. That said, cheapest is not necessarily best. It is the role of procurement to deliver sustainable cost savings and strategic initiatives to benefit stakeholders and the business as a whole.

A holistic procurement function enables the team to deliver additional value above and beyond cost savings alone, such as innovation, digital transformation and improved business efficiencies.

A personalised approach

At Ebit, we are genuinely passionate about doing the right thing for our clients. Whether working with a business without an internal procurement function, or as an extension of an in-house procurement team, we can support strategic procurement initiatives whilst also delivering substantial cost savings. Our team is backed by our market intelligence and internal spend category expertise, which any of our clients can tap into when required. Our preference is to deliver actual tangible results rather than advise on potential outcomes alone – we support projects right through to implementation.

We understand that every business is different and ensure that we implement the right solutions for each individual client, resolving any pain points as part of the process.

Stakeholder engagement

When we facilitate procurement activity to deliver cost savings, we take internal stakeholders on the journey with us. We consider elements such as specifications, efficiencies, consolidation, supplier fit, service levels and governance, to give a few examples.

For any procurement professional, relationship management of stakeholders is key. By engaging and training stakeholders as part of the process, in effect Ebit becomes an integral part and extension of a client’s existing teams.

Best practice

We also work in partnership with many of our clients to proactively establish and drive procurement best practice for them, including but not limited to:

  • Supplier relationship management: devising tools to get the best from the supplier relationship beyond the initial contract signature and leading review meetings to ensure supplier performance
  • Risk management: working to minimise risk in the supply chain
  • Procurement skills, best practice & training: devising and attending procurement workshops to impart best practice within a business and leave a legacy of tools, templates and training materials
  • Procurement policies and procedures

Procurement: Added value. Innovation, Digital Transformation, Efficiencies, Best practice, Risk Management, Supplier Relationship Management. Cost Reduction.

Find out how Ebit can help your business today: contact us.

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