The Australian Government is making strides towards sustainability with the upcoming Environmentally Sustainable Procurement (ESP) Policy, set to commence in July 2024. This policy aims to integrate circular economy principles into procurement practices, promoting environmental responsibility and innovation across various sectors. Here’s the low-down: What it is: The ESPP is…
Having laid the foundation of strong supplier relationships in Part 1, exploring effective communication and trust-building, it’s time to turn our attention to the analytical tools and strategies that drive Supplier Relationship Management (SRM) to new heights. In this part, we will explore how performance metrics, risk management, negotiation tactics,…
Imagine a company that consistently saves millions annually while maintaining top-notch product quality and pioneering innovations in its industry. The secret behind such success often lies in effective supplier relationships. Strong supplier relationships are the backbone of successful procurement, and their impact is profound. According to a Deloitte study, businesses with well-managed supplier relationships can achieve up to…
Here’s a day in the life of a Procurement Professional: “How did I not know about this? Why was this not on the sourcing project plan? When did you decide to go to market?” Many procurement professionals experience these moments of surprise and frustration, which typically arise from being brought…
Welcome to Part 2 of our exploration into Strategic Sourcing Strategies. Having laid the groundwork by defining strategic sourcing and its key components in Part 1, we now turn our focus to the invaluable contributions of procurement consultants. In this segment, we will explore how these experts apply their deep…
“Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” Abraham Lincoln’s words echo profoundly in the world of strategic sourcing, where preparation, precision, and the right tools define the success of procurement strategies. A well-crafted strategic sourcing strategy that is…
In this series, we discuss AI’s impact on procurement. We’ve unpacked GenAI in Part 1 and delved into the predictive power of Machine Learning in reshaping procurement strategies and decision-making in Part 2. In the final instalment, we pivot towards the negotiation arena, introducing Haggle Bots and discussing the broader cases…
Welcome back to our exploration of AI’s impact on Procurement. If you missed Part 1, which covered the basics of AI in Procurement and the ground-breaking role of GenAI, make sure to catch up. Now, we dive deeper into Machine Learning and Predictive Analytics, demonstrating their pivotal roles in refining…
Procurement is radically transforming with the introduction of Artificial Intelligence (AI). The potential is ginormous. Is that an enormous overstatement? Amara said that society tends to overstate the short-term effects of technology while underestimating its long-term implications. In this three-part series, we will explore how AI automates and optimises Procurement,…
Procurement consulting goes beyond simply finding the cheapest supplier. It’s a strategic approach to optimising the entire procurement process, aligning it with your business objectives to unlock significant value. If you missed Part 1, be sure to catch up on our introduction to procurement consulting’s strategic significance. Now, in…
Comprara Pty Ltd
Comprara acknowledges the traditional Aboriginal owners of country, recognises their continuing connection to land, water and community and pays respect to Elders past, present and future.
