Copy
Spend Right News
December 2016

Visit us at the AED Summit - Booth #1309
January 10-13, Chicago, IL
View this email in your browser

5 Ways to START Strong in 2017

A new year is always a great opportunity for a clean slate – New Year’s Resolutions, a clean calendar, new budgets. People come back from the holidays happy and refreshed,  and there’s no better time to give your company spend a fresh look.


Here are 5 great places to START:

  • Strategy – If your company doesn’t already have a procurement strategy, this is the perfect time to implement one.  If you do, it’s a good time to review and ensure that your strategy still reflects your current direction – and more importantly, that it aligns with your company’s overall corporate strategy. People want to do the right thing, and when strategies are well-defined it’s more likely that everyone will be on the same page.
     
  • Team Up – Collaborate, break down silos, create complementary goals with operational departments. Fewer silos mean less conflict, less rework, and stronger cross-functional partnerships - which leads to increased efficiency and maximum potential for savings.
     
  • Analyze – This is the perfect time to analyze 2016 spend to shape your 2017 goals and to identify quick win savings projects and strategic opportunities. Categorize suppliers or review existing categories, and review KPIs to ensure that they still reflect your updated strategy. 
     
  • Refresh – Give your supplier database a scrub. Review payment terms and insurance requirements. Review processes and inject some new life into company expense policies, Terms and Conditions, and other documents. If large scale or multi-generational projects are part of the picture, re-examining project plans can keep things on track.
     
  • Train – People come, people go. Employees transfer into new roles, and longtime folks sometimes run on autopilot. Providing opportunities for training on systems, processes, and policies ensure that all of these great new goals and strategies are carried out consistently.

There is never a shortage of things to do in procurement, but START with a plan and success will follow.
 
Happy holidays and a wonderful new year to you and yours!

Visit our website at www.spendrightinc.com for more information on all of the services we provide or click here to set up a free consultation.



Jennifer Albright, CPSM, C.P.M.
Joseph Albright, CPSM, C.P.M.
 
With nearly 40 years of combined experience in Procurement and Supply Chain Management, we have the tools to bring value and integrate best practices throughout your organization.

From cost savings to systems to supplier relationships, project management and  managing change, we are here to help our clients meet their corporate objectives and increase profitability.


It's not always about spending less.
It's about spending right.
Copyright © 2016 Spend Right, Inc., All rights reserved.


You are receiving our newsletters because you have either signed up to receive them or have met us at a recent event. We send 8-10 emails each year and will never share your address with anyone else.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

Email Marketing Powered by Mailchimp