Leading procurement functions generate genuine value throughout the enterprise. They do so through activities such as strategic sourcing and category management—practices that many procurement departments already perform quite well. What distinguishes top procurement functions from others is how well they quantify the value that they generate.
By calculating, documenting and communicating the actual and measurable value that their sourcing activities produce, procurement functions can build a stronger internal “brand” for themselves. This white paper focuses on the savings and value calculations, documentation, and communications—along with six related, value-driving practices—that procurement departments should consider deploying to build a credible reputation and internal brand for driving value.