It’s a new year and European procurement executives are
beginning it with a fresh set of priorities. While driving cost
reductions remains job number one, managing cash and mitigating
supply risk have taken on increasing importance, according to the
results of a new study from Aberdeen Group. On Thursday, January
21, Andrew Bartolini, Vice President/Group Director, Global Supply
Management, Aberdeen Group and author of “European CPOs:
Capitalising on the Best Opportunities,” will discuss the current
challenges sparked by the slow recovery of the global economy
during an interactive webinar hosted by Ariba, Inc. (NASDAQ:ARBA),
the leading provider of spend management solutions. He will be
joined by Stephen Hayers, Vice President, Services Procurement, BT
plc, one of the world’s leading providers of communications
solutions and services, who will discuss the strategies that his
organisation is executing to overcome these challenges. The live
session will take place from 2 p.m. to 3 p.m. GMT.
“In order to position themselves and their organisations to play
an increasingly strategic role when the recovery inevitably begins,
CPOs and other procurement leaders must successfully address
short-term needs while pressing forward on longer-term
initiatives,” Bartolini said.
According to “European CPOs: Capitalising on the Best
Opportunities,” identifying cost reductions remains the top
priority for procurement executives. But managing cash and
mitigating supply risk have taken on new urgency.
“With access to credit tightening across most major industries,
CPOs have moved quickly to implement strategies to keep more cash
on hand by employing more aggressive demand management strategies,
negotiating better payment terms and optimising working capital by
taking more early payment discounts,” Bartolini noted.
They are also working to tackle supply risk. More than half of
the executives interviewed as part of the measure cited risk as an
increasing business pressure. And while 83 percent have no formal
risk program in place at present, most recognize the need to
mitigate the stress on the financial and operational performance of
key trading partners that the recession has caused.
One company that has successfully done so: BT plc. As outlined
in the Aberdeen research, the company began publishing a quarterly
report that identifies high-risk suppliers and presents mitigation
plans to ensure business continuity and financial success. BT will
discuss this report along with its efforts to work with suppliers
to identify cost reductions during the January 21 webinar.
And Bartolini will provide recommendations for actions that
companies can take now to position themselves to strongly compete
in the future.
“Innovative organisations recognise that to succeed under
current economic conditions, they need to be more agile than ever
before,” said Steve Canning, Director, Ariba EMEA. “As such, they
are redefining their priorities and implementing solutions and
processes that enable them to quickly respond to changes in market
and business conditions and drive their strategic goals. Our
webinar is designed to provide insights into the challenges that
the economy has created as well as action-oriented strategies for
managing them.”
For more information on the January 21 session, or to register,
please visit: www.ariba.com/programs/emeacpoagenda.cfm
About Ariba, Inc.
Ariba, Inc. is the leading provider of on-demand spend
management solutions. Our mission is to transform the way companies
of all sizes, across all industries, and geographies operate by
delivering technology, service, and network solutions that enable
them to holistically source, contract, procure, pay, manage, and
analyze their spend and supplier relationships. Delivered on
demand, our enterprise-class offerings empower companies to achieve
greater control of their spend and drive continuous improvements in
financial and supply chain performance. More than 1,000 companies,
including more than half of the companies on the Fortune 100, use
Ariba solutions to manage their spend from sourcing and orders
through invoicing and payment. For more information, visit
www.ariba.com
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