{"id":791,"date":"2013-10-11T13:22:38","date_gmt":"2013-10-11T13:22:38","guid":{"rendered":"https:\/\/stagingwww.zycus.com\/devising-a-comprehensive-procurement-strategy"},"modified":"2023-10-19T11:00:53","modified_gmt":"2023-10-19T11:00:53","slug":"devising-a-comprehensive-procurement-strategy","status":"publish","type":"post","link":"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/devising-a-comprehensive-procurement-strategy","title":{"rendered":"DEVISING A COMPREHENSIVE PROCUREMENT STRATEGY"},"content":{"rendered":"<p>Procurement strategy may be defined as a plan or process for spend optimization, procurement operations and other value contributions such that they are aligned with the overall corporate objectives. It is immensely important to develop a comprehensive procurement strategy to ensure that the procurement organization is aligned with the overall corporate strategy and to ensure that progress is being made.<\/p>\n<p>The Procurement Strategy Elements may broadly be differentiated as Inputs and Outputs.Let\u2019s observe this through the chart below:<\/p>\n<p><a href=\"https:\/\/dev.zycus.com\/freshz\/solution\/procurement-performance\" target=\"_blank\" rel=\"noopener\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-795\" src=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2013\/10\/Procurement_Strategy2.webp\" alt=\"Procurement\" width=\"499\" height=\"231\" srcset=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2013\/10\/Procurement_Strategy2.webp 640w, https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2013\/10\/Procurement_Strategy2-300x139.webp 300w\" sizes=\"(max-width: 499px) 100vw, 499px\" \/><\/a><\/p>\n<p>The two important Result Areas to look for are:<\/p>\n<p><strong>1. Value:<\/strong>\u00a0The Value that the Procurement organization adds to the corporation; and<br \/>\n<strong>2. Efficiency: <\/strong>Procurement organization\u2019s operational efficiency and effectiveness<b>\u00a0<\/b><\/p>\n<p><b>Value<\/b> may be realized by leveraging <a title=\"Procurement\" href=\"https:\/\/dev.zycus.com\/freshz\/solution\/procurement-performance\" target=\"_blank\" rel=\"noopener\">procurement automation <\/a>in the form of :<\/p>\n<ul>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/solution\/spend-analysis\" target=\"_blank\" rel=\"noopener\">Spend Management and Spend Analysis<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/solution\/contract-management\" target=\"_blank\" rel=\"noopener\">Contract Management<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/solution\/procurement-finance-collaboration\" target=\"_blank\" rel=\"noopener\">Savings Management<\/a><\/li>\n<li>Tools to optimize Return on Procurement Investment<\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/solution\/supplier-management\" target=\"_blank\" rel=\"noopener\">Supplier Management<\/a><\/li>\n<\/ul>\n<p><b>Efficiency <\/b>may be measured through factors such as:<\/p>\n<ul>\n<li>Procurement Cycle Time<\/li>\n<li>Procurement Cost per dollar<\/li>\n<li>Spend per Employee<\/li>\n<li>Percentage of Revenue<\/li>\n<li>Utilization of Technology<\/li>\n<li>Number of Sourcing Events<\/li>\n<\/ul>\n<p>These KPIs may differ from vertical to vertical, to get a holistic view\u00a0interact and network with more than 100\u00a0procurement proffessionals at\u00a0Horizon 2013. <a title=\"Horizon,\" href=\"https:\/\/www.horizon.zycus.com\/Register.php\" target=\"_blank\" rel=\"noopener\">Register and attend the year\u2019s biggest Procurement Conference, Horizon 2013<\/a>,\u00a0where\u00a0\u00a0<a title=\"Speakers\" href=\"https:\/\/www.horizon.zycus.com\/Speakers.php\" target=\"_blank\" rel=\"noopener\"><b>20+ confirmed speakers <\/b><\/a>from top analyst firms and large enterprises will share their views and experiences with respect to Procurement. To name a few \u2013 <b>Coca Cola, AMD, Emirates, Celgene, Carlson, Cubist Pharmaceuticals, Ercot, University of Missouri, Emory University, Weatherford, Saudi Aramco, NiSource, The Hackett Group, Forrester Research, Inc. &amp; Gartner<\/b> etc<\/p>\n<p>Further on th above topic, do not miss the session by <b>Mr. Andrew Bartolini , Ardent Partners\u2019 Chief Research Officer<\/b> on \u2018<b>Built to Last: The Critical Elements to a Successfull Procurement Transformation<\/b>\u2019 where he will express his views on the importance of procurement transformation and continual improvement to the larger enterprise in today\u2019s dynamic business landscape. His speech will help procurement organizations design, plan, build and execute a proper procurement transformation program and utilize leading edge strategies to broaden the scope of influence and deliver greater value to the enterprise.<\/p>\n<p><img decoding=\"async\" class=\"alignnone\" src=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2013\/10\/700-new-signature.gif\" alt=\"700-new-signature\" width=\"599\" height=\"100\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Procurement strategy may be defined as a plan or process for spend optimization, procurement operations and other value contributions such that they are aligned with the overall corporate objectives. It is immensely important to develop a comprehensive procurement strategy to ensure that the procurement organization is aligned with the overall corporate strategy and to ensure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":101476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1937,1943],"tags":[424,770,771,351,589,463,613,371,772,773,460,774,768,615],"ppma_author":[170],"class_list":["post-791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement-technology","category-zycus-horizon","tag-contract-management-2","tag-efficiency","tag-percentage-of-revenue","tag-procurement","tag-procurement-automation","tag-procurement-process","tag-procurement-strategy","tag-procurement-technology-2","tag-return-on-procurement-investment","tag-savings-management","tag-spend-management","tag-spend-per-employee","tag-value","tag-zycus-horizon"],"acf":[],"authors":[{"term_id":170,"user_id":0,"is_guest":1,"slug":"zycus-inc","display_name":"Zycus","avatar_url":{"url":"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2025\/02\/zycus-author.png","url2x":"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2025\/02\/zycus-author.png"},"author_category":"0","last_name":"Agentic Procurement Platform","first_name":"Zycus","job_title":"","user_url":"https:\/\/dev.zycus.com\/freshz","description":"Zycus is an Agentic Procurement Platform that is redefining procurement from Source-to-Pay to Intake-to-Outcomes. Its unified platform combines native Intake, agentic AI, and an end-to-end S2P core to help enterprises drive real procurement outcomes \u2014 not just transactions. Recognized by Gartner, Forrester, IDC, and customers worldwide, Zycus is shaping the next generation of procurement with the Merlin Agentic AI Platform."}],"_links":{"self":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/comments?post=791"}],"version-history":[{"count":0,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media\/101476"}],"wp:attachment":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media?parent=791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/categories?post=791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/tags?post=791"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/ppma_author?post=791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}