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Thu, Jun 29, 2017

Questions for the Procurement and Supply Professionals

John Ruskin (1819 -1900) famously said, “It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done."

Modern procurement managers can learn a lesson or two from this quote. Many procurement manager find it difficult to answer with certainty the question on how much their organisation is spending on third party purchases each year leave alone analyse the effectiveness of their procurement. 

Let's start with asking ourselves some questions and see how many of us get the answers to them.

  1. Do you know how much your organisation is spending externally each year in each category of spend and with which supplier? 
  2. Do you know the total cost of ownership of the purchases you make, rather than just their purchase price? 
  3. How much Value For Money Savings do you generate year on year?
  4. How many of your staff doing procurement are procurement qualified? If not 100%, then why not? 
  5. Do your procurement staff get trained in procurement competencies like specification writing, negotiation and contracting skills, supplier appraisal, stakeholder management, risk management, sustainability, data analytics etc?

About Advance SCS

Advance SCS was incorporated in 1994 in Singapore and provides training and consultancy on Procurement and Supply. We have developed a unique 3-stage approach to training and consultancy - Customised ImplementationProximity Training and Measured performance improvement and savings. 

For more details on our services, visit us at www.advancescs.com or email at This email address is being protected from spambots. You need JavaScript enabled to view it. We Empower Your Learning.

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