Is there a way to find out to get Procurement savings to the Bottomline?
๐ ๐๐ง๐๐๐ ๐ข๐ฎ ๐๐ง๐๐ฃ๐๐
๐๐๐ ๐๐ฃ๐ ๐ข๐ฎ ๐พ๐๐๐ฃ๐๐
๐ผ๐ฃ๐ ๐๐ค๐ข๐๐ฃ๐๐๐ฃ๐โค๏ธ๐ฅฐ ๐ฌ๐๐ฉ๐ ๐๐๐ฃ๐๐ฃ๐๐
But I found a disconnect here. Both Procurement and Finance view savings differently:
๐๐ค๐ง ๐๐ง๐ค๐๐ช๐ง๐๐ข๐๐ฃ๐ฉ:
๐๐๐ซ๐๐ฃ๐= (๐๐๐จ๐ฉ๐ค๐ง๐๐๐๐ก ๐๐ง๐๐๐ – ๐๐๐ฌ ๐๐ง๐๐๐) ๐ ๐๐ค๐ง๐๐๐๐จ๐ฉ ๐๐ค๐ก๐ช๐ข๐
๐๐ค๐ง ๐๐๐ฃ๐๐ฃ๐๐
๐๐๐ซ๐๐ฃ๐ = ๐ฝ๐ช๐๐๐๐ฉ๐๐ ๐พ๐ค๐จ๐ฉ – ๐ผ๐๐ฉ๐ช๐๐ก ๐พ๐ค๐จ๐ฉ
So how to align Procurement and Finance?
By forging a love affair ๐ โค๏ธ ๐ between both by :
๐๐๐ค๐ง๐ข๐๐ก๐๐ฏ๐๐ฃ๐ ๐จ๐๐ซ๐๐ฃ๐๐จ ๐ข๐๐ฉ๐๐ค๐๐ค๐ก๐ค๐๐๐๐จ ๐๐ฃ๐ ๐๐ก๐๐๐ฃ ๐ข๐๐ฉ๐ง๐๐๐จ ๐ค๐ ๐จ๐๐ซ๐๐ฃ๐๐จ ๐ฌ๐๐ฉ๐ ๐๐๐ฃ๐๐ฃ๐๐.
๐๐๐ง๐๐๐ ๐ง๐๐๐ก๐๐ฏ๐๐ ๐จ๐๐ซ๐๐ฃ๐๐จ ( ๐๐ค๐จ๐ฉ ๐จ๐๐ซ๐๐ฃ๐๐จ + ๐๐ค๐จ๐ฉ ๐๐ซ๐ค๐๐๐๐ฃ๐๐ )๐๐ฃ๐ ๐ง๐๐ฅ๐ค๐ง๐ฉ.
๐๐๐ฃ๐ฉ๐๐๐ง๐๐ฉ๐ ๐ฉ๐๐ ๐๐ช๐๐๐๐ฉ๐๐ฃ๐ ๐ฅ๐ง๐ค๐๐๐จ๐จ ( ๐๐ค๐ฉ๐ ๐๐ฃ๐ฃ๐ช๐๐ก ๐๐ฃ๐ ๐ค๐ฃ๐๐ค๐๐ฃ๐ ๐ข๐ค๐ฃ๐ฉ๐๐ก๐ฎ ๐ง๐-๐๐ค๐ง๐๐๐๐จ๐ฉ๐จ ๐ฌ๐๐ฉ๐ ๐ ๐๐ค๐๐ฃ๐ฉ ๐จ๐๐ซ๐๐ฃ๐๐จ ๐จ๐๐๐ฃ-๐ค๐๐.
Here’s the Love Story of Procurement & Finance in the carousel.
Finance ended up having better control of the buying process and Procurement gaining a more thorough understanding of Finance.
LOVE โค๏ธ IS IN THE AIR ๐๐
โณ Hey there, it’s Onkar Gill
๐บ A Supply Chain Expert!
โ
Let’s work together to take the procurement game to the next level!”
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