Businesses across the UK are always looking for ways to reduce their costs, yet this search has become more prevalent since Article 50 was triggered and the subsequent unstable economy which followed Britain’s decision to leave the EU. Despite their expertise, many organisations may not have the resources to effectively manage their expenditure; in these instances, they may look outward to specialists for the necessary advice and strategies to eliminate unnecessary costs that impact profitability.
Of course, procurement specialists will reduce the costs in a number of operations within your organisation (a benefit in its own right), but their advantages extend further than simply offering reductions in costs, as improvements in productivity and efficiency act as bi-products from a streamlined focus on expenditure. As influential as money is in successful business operations, procurement is also about the effective sourcing of suppliers and managing their performance to ensure the strategic needs of the business are met, whilst looking inward to assess whether your resources and assets are bringing value to the organisation.
Procurement specialists understand how developments in the world affect how organisations can conduct business efficiently. They understand that in today’s business climate managing costs is all about agile supply chains that allow businesses to adapt to the changing market conditions with variable cost structures that encourage flexibility and business growth. Their network with suppliers, manufacturers and service providers in a wealth of industries can be an invaluable asset for organisations who may find they may need to change their structures quickly as demands and conditions evolve, particularly during this unpredictable time. Their understanding from years of experience ensures that the design of your supply chain and organisational structure is helping to work towards your goals, and ensuring optimum profitability is being achieved.
“Effective Procurement isn’t just about reducing the cost, it is about getting the right product and/or service at the best price, and at the lowest risk. Our specialists are experts in the categories they serve so they know what the best price looks like to ensure quality is maintained; it is no good buying poor quality cheaper. They also know the suppliers that are credible and stable who can consistently deliver on the promises they make. The category knowledge our team has supplements the business knowledge the internal team has to ensure the best solution is found to address the needs of your business.” -David Rickard
To discuss more about the advantages of business cost management with ERA, get in touch with us today.
Article by: David Rickard