Sourcing and procurement aren’t an afterthought: they make things happen
- mars 28, 2024
As a Chief Procurement Officer, your team is often treated as a mere "checkbox" rather than given a meaningful seat at the table. Unfortunately, sourcing and procurement teams are often caught up in the daily grind, lacking the necessary resources and time to improve efficiency.
At NTT DATA, our Sourcing & Procurement team understands the importance of starting with the end goal in mind. Instead of overwhelming you with promises, we take a practical approach. We carefully evaluate your spending patterns and identify areas where you can achieve cost savings. This way, you can allocate funds towards strategic needs and reduce unnecessary expenses. Our team works alongside you, adopting a collaborative mindset that aligns with your objectives. We help your team evolve from mere administrators to creative, strategic thinkers.
Developing a “we win together” mindset
One size never fits all
NTT DATA understands that every business has its own specific needs and obstacles. We’re here to support you at any stage and help identify and resolve your unique challenges, achieving optimal business outcomes. We value commitment, ownership and active engagement — working with you throughout the entire process, from beginning to end.
Welcoming open exchange
Real partnerships are built on a willingness to challenge and be challenged. It’s a process that helps push through roadblocks by engaging in constructive debate, leading to better decisions. You'll work with seasoned procurement executives from start to finish — and experts from across NTT DATA — drawing on their specific skills.
A results-driven process
We bring the best parts of startup culture — high-velocity development, a minimum viable product (MVP) mindset, rapid releases — and adapt them to your needs. There's no wishful thinking, only practical ideas that will help you reach your business goals.
Creating tangible value
Developing strategic cost management demands a good eye and even better instincts. Procurement leaders must think in terms of quick wins, with little impact on organizational structure. An agile mindset that promotes adaptive strategic thinking. It cuts waste, generates profit and creates business opportunities. And, of course, we’re data-driven — collecting, analyzing, cleansing and categorizing spend data to achieve your cost-savings goals. Our data insights will help you move forward, capturing additional value that adds to the bottom line.
In a Forrester study, 75% of respondents cited “increase procurement efficiency” as a critical or high-priority business objective over the next 12 months*
When working together on procurement operating efficiency, we place great importance on transparency. We work with your team to assess operational tasks and find ways to do them better. We will select the right software, map processes and support your complex procurement functions. Together, we set your business up for success.
Our focus on people and relationships gets things done.
Proactive supplier management is a big ask in today’s market. It’s an objective complicated by the abundance of suppliers, contractual discrepancies and limited supplier analysis. We begin by becoming familiar with the specifics of your supplier relationships. What did they guarantee? By when did they guarantee it? What’s their response when they can't meet the agreed-upon terms? These expectations must be secured contractually and delivered consistently.
Understanding the performance of your suppliers is yet another critical factor. We will develop a supplier scorecard to assess your risk exposure as well as suppliers’ compliance and overall performance. We use the data to generate a vetted supplier list — their strengths and weaknesses, along with the details of your service agreements. This forms the foundation of your own supplier management program. You need a complete understanding of your supplier relationships if you’re to make better sourcing decisions in 2024.
Looking ahead with the Sourcing and Procurement team
In the current market, several factors continue to affect upstream costs — supply chain volatility, economic uncertainty and the ongoing impact of inflation to name but a few. When you consider the odd global disruption that’s around the corner, strategic contingency planning isn’t only a good idea — it’s mandatory.
Procurement is the cornerstone of success for every business, regardless of industry. If it’s implemented poorly, the results will reverberate through every downstream process. NTT DATA’s Sourcing & Procurement team will help you develop a robust and sustainable procurement strategy.
Contact us and see how NTT DATA’s Sourcing & Procurement team will identify, diagnose and resolve your most complex procurement challenges. Our top manufacturing talent, enabled by effective methodologies, deliver actionable insights and measurable outcomes.
*Procurement: A CEO's Secret Weapon for Growth and Resilience in Turbulent Times," a commissioned study conducted by Forrester Consulting on behalf of Ivalua, April 2023.
