Adding value through a Procurement Centre of Excellence
Procurement Centres of Excellence (COEs) are rapidly becoming commonplace internal functions that support global procurement teams.
Earlier this month, CASME welcomed a large group of enthusiastic delegates to the Procurement Centres of Excellence RoundTable held in Mumbai. This RoundTable was specifically designed for procurement professionals who work within a COE in India, as well as those who are setting up a similar shared services hub to support procurement teams throughout their organisation.
Given no geographic barriers to the location of a procurement COE, India offers highly-trained personnel and extensive opportunities for relatively low-cost activities to be performed. Delegates at the RoundTable were excited to talk through the options and new developments; particularly for enhancing Procurement’s capabilities using artificial intelligence and robotic technologies.
Within progressive companies, COEs are likely to undertake strategic-level activities such as business analysis, knowledge management, competency building and capability development – all performed to add value to the roles of procurement stakeholders and help achieve corporate objectives in terms of cost savings and business competitiveness.
A comprehensive summary of the RoundTable discussions can be found on CASME’s Resource Centre, along with notes from other CASME Procurement COE RoundTables held in Dublin, Philadelphia and San Francisco.