Brisbane, Australia – Wednesday 13th July. Today, Acquire Procurement Services announced their annual results for FY16. In the company’s first full financial year of operation, the company’s results speak for themselves.
In their results, Acquire tallied up the millions of dollars they saved their clients during the year and divided it by the total number of days their staff worked to achieve those savings. The result was that for every day a consultant from Acquire assisted one of their clients, that client was $46,000 better off.
When procurement professionals get a bunch of spend data to analyse and need to go a step further we gravitate towards pie charts, pivot tables, pivot charts, spend hierarchies, column graphs … the usual. These tools, while common, are certainly useful in their own right but I will explain in this article how a Sankey diagram can achieve most objectives of these forms of data and even more. Read more
On the 19 May, the team at Acquire attended the CIPS Innovation in Procurement QLD regional event.
Acquire heard from Blue Chilli, a start up accelerator and tech start ups in the procurement innovation space being Unscrabble, Plant Dispatch (to be renamed to 3 Way Match) and Lawcadia.
The beginnings of all three start-ups was the recognition of issues faced by procurement in the business and recognition of a gap in the market to resolve such issues.
These days, supply contracts include price escalation mechanisms to better manage risk between the supplier and the business. Just the name of these mechanisms indicates that they are often geared to only increase. This hasn’t been a problem in a booming economy but as the latest Commodity Markets Outlook report by the World Bank illustrates, prices are likely to come off instead of increase. This is bad news for poorly constructed supply contracts. Read more
As a Singapore National who now resides in Brisbane, Clarence brings an additional $1B+ worth of establishing commercial supply arrangements across Asia Pacific. Read more
Companies often talk about outsourcing as the holy grail of business. If it isn’t core business, “outsource it”, if someone can do it cheaper or better “outsource it” but over time, the reason for outsourcing a service or a whole function can get lost and businesses can find themselves asking “so, why did we outsource that?”
Between 1st July, 2013 and 30th June, 2014 the Australian Federal Government awarded more than 66,000 contracts worth almost $31B. The team at Acquire Procurement Services analysed this publicly available data to understand the top 10 contracts for each procurement category.
Under the Queensland Government’s open data policy, all contracts awarded over $10,000 are made available to the public. Below is an interactive chart that illustrates the relationship between government departments, agencies and their suppliers. It is also possible to filter the data based on how the contract was tendered (i.e. the procurement method). Read more
Calculating procurement savings is a critical deliverable for almost all procurement professionals. Furthermore, procurement savings are often made visible to organisational executives and even board members. Therefore, getting them right can be the difference between being praised and being marginalised.
To help all procurement professionals, their managers, and their organisations, we have included three approaches to calculate procurement savings that are best to be avoided for formal procurement reporting.
To assist procurement professionals in Queensland to better network and build on their procurement knowledge; below is a list of 2015 Queensland procurement networking events for procurement related associations as well as the inclusion of a couple of national events.