LEADING PROCUREMENT PRACTICES PROFILER

 

The Gateway to Leading Practice Adoption in Procurement

“Value Creation in Procurement Centers Around the
Practices and Capabilities of the Procurement Function”

The Procurement function has enormous potential to create significant value for the organisation. However, the potential to create such value is often limited by the inherent capabilities of the Procurement function in terms of the practices it employs. Commonly, the practices employed by the Procurement function have grown ‘organically’ over the years and usually depend on the knowledge embedded in key personnel. When those personnel leave the procurement function, unless there has been formal knowledge management initiatives, the tendency is for those practices to erode over time, if not significantly diminish. To compound matters, procurement functions seldom understand how their practices compare to those of World Class organizations who do employ leading procurement practices, and therefore never really know how competitive they truly are. The question is, ….. where should you start looking to improve your procurement practices?

Finding the Needle in the Haystack

Procurement as a discipline employs hundreds of practices, each to a varying degree of proficiency, but it is necessary to understand which of those practices deliver the greatest value and how this occurs.  Due to the complexity and interdependent nature of procurement practices, knowing where to look and which practices to focus on is literally like looking for a needle in a haystack.

However, Stratocube’s proprietary tool and methodology gives you just what you need.  Finding that proverbial needle-in-the-haystack has now become a codified process with our proprietary LP3TM online diagnostic profiling tool, and we can help you very quickly hone in on exactly those practices that will add the most value to the organisation through their adoption and embedment.

What is LP3TM?

The LP3TM is our proprietary online Leading Procurement Practices Profiling diagnostic tool that is based on years of research and experience. With strategic and operational coverage,  based on your organisation’s inputs, we can generate a detailed interpretation of the deployment of procurement practices in the client organization, and scientifically identify specific areas of opportunity for value creation.  At its core,LP3TM is a capability accelerator that improves Procurement’s agility whilst elevating Procurement to the role of trusted business advisor to the business.

LP3TM profiles the Procurement Organisation’s procurement practices in terms of 9 high-level Practice Areas (Dimensions) and 28 Practice Sub-areas (Sub-dimensions). Following the initial online diagnostic process, we deploy our unique methodology to determine those practices that can add greatest impact, determine gaps and systematic constraints in the adoption of various procurement practices, and help you get to grips with the root-cause relationships embedded within your universe of procurement practices that are the pre-cursor to high-level performance and value creation.

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