It’s no secret that the effects of this current pandemic have bled into the business sector.
With uncertainty and changing the words of the day, more and more companies are looking for ways to not only cut costs and save time, but also stay competitive. And one astute way companies can make this move is by turning to leading procurement consultant firms.
According to Bain and Company, procurement organizations can reduce a company’s purchasing cost base by an average of 8 and 12 percent. These savings can be taken to the next level when a company turns to a procurement organization that is Lean-Agile Procurement (LAP) Certified. Industry experts and companies are beginning to realize that to be competitive, they need to be faster and flexible.
According to the 2020 LAP annual report: “As market conditions become increasingly volatile and unpredictable, the ability to move fast and rapidly implement change and innovation has taken on a new urgency. Effective controls must be matched by greater speed – bringing agility to the forefront of functional capability.”
A fairly new and innovative approach to procurement, the LAP program’s Moto is: “complex procurement made simple.”
Essentially, LAP is an agile approach to complex procurements that cuts out the time of the procurement process, guaranteeing that “what used to take months now takes days.”
It also heavily relies on collaboration between people as key. It boils the procurement process down to four steps: initialization, preparation, execution and peer-feedback.
The greatest strength of a company that is LAP certified is its efficiency, its ability reduce waste of time which translates into financial savings.
The LAP method delivers these results by focusing on reducing preparation efforts, reducing time to market, eliminating customized proposals and lays focus on evaluation of partners.
According to the LAP annual report, procurement companies reported an increased level of customer satisfaction and improved time to market for their clients.
At IPC we are known for our highly skilled contract negotiators and process improvers, experienced in developing and leading multinational, cross-functional teams to generate year over year savings.
But now as an LAP certified company, we can guarantee that your company is in for more savings.