Brendan McVeigh

recovery

The “Post-Pandemic dawn” for Financial Services Procurement

The “Post-Pandemic dawn” for Financial Services Procurement In the immediate post-pandemic world, Procurement leaders in the Financial Services sector have resorted to a well-trodden path, managing suppliers and achieving compliance. However, there are two other strategic priorities which Procurement teams must consider as we transition beyond the Covid pandemic; the digital transformation of…
Gold panning

How Procurement can still make savings in a world of inflation

How Procurement can still make savings in a world of inflation Procurement in an inflationary world – the end of “easy” savings We are in for a sustained period of inflation. The economic balance of supply and demand has shifted for many commodities, materials and transportation, tipping economies into a period of escalating…
Cash register

Indirect spend (GNFR). First stop post-pandemic for retail margin improvement

All retailers spend significantly on indirect spend, or Goods-Not-For-Resale. Spend categories such as Buildings, Installation & Fixtures, Logistics, Marketing, Facilities, IT & Telecoms, FM and Utilities can account for more than 1/7th of a retailer’s turnover and are often purchased by operational departments with no procurement support or, worse, left totally unmanaged, falling between functional…

The changing dynamics of procurement in financial services

The changing dynamics of procurement in financial services In a manufacturing environment, ‘direct spend’ is easy to define; the goods and purchases directly incorporated into a product being manufactured or sold. Direct spend typically has a much greater procurement focus than indirect spend; it includes the spend with key strategic suppliers and high volume…