HCLTech’s Post

Attended a wonderful webinar on Synergizing category management with strategic procurement goals by HCLTech. Baskaran (Baskar) Subramaniam 🎙 Pratik Patel, Director of Category Management, Labor, Mastercard Mastercard 🎙 Eric M. B., VP Sourcing – IT, Synchrony 🎙 Moderated by Baskaran (Baskar) Subramaniam, EVP and Head - Banking and Financial Services, Americas, HCLTech Sharing below key takeaways for all , hoping to be beneficial,This expanded description and representation should help clarify the focus areas and their significance in procurement management. 1. Procurement SOPs -  Prepare and define Standard Operating Procedures (SOPs) to streamline processes and ensure consistency and compliance.  2. Procurement Management - Strategically manage procurement activities by deciding when, where, and with whom to buy, optimizing cost and quality.  3. Obstacle Management - Anticipate potential hurdles in procurement and have a contingency plan (Plan B) to address challenges effectively.  4. Procurement Professionals - Foster a professional outlook among procurement staff to enhance efficiency, negotiation skills, and supplier interactions.  5. Data Driven Strategies - Utilize data and analytics to make informed decisions, track performance, and identify opportunities for improvement.  6. Supplier Relationship - Build and maintain positive relationships with suppliers to ensure reliability, quality, and long-term collaboration.  7. Onboarding Process -  Simplify and streamline the onboarding process for small suppliers to ensure efficiency and ease of integration.  8. Defining Process Cost vs .Outcome Derived  -Analyze and understand the costs involved in procurement processes and focus on eliminating non-value-added activities to enhance overall value.   #ProcurementExcellence #StrategicSourcing #EfficientProcesses #SupplierSuccess #DataDrivenDecisions #ProfessionalProcurement #RiskManagement #ValueOptimization #icai #cfo #charteredaccountants #industry #hcltech #componentmanufacturing #electronics #pharmaceutical #industries #service #SOP #ERP

EY identified the Top 4 Procurement Priorities for 2024 As 2024 begins, Chief Procurement Officers (CPOs) are navigating a rapidly evolving landscape, balancing supply security with cost while prioritizing operating model performance, GenAI, supplier partnerships, and sustainability. Key Focus Areas for CPOs in 2024: ➟ Review Operating Models: Align procurement operations with strategic objectives to drive resilience, innovation, and growth. ➟ Leverage GenAI: Embrace GenAI to enhance procurement processes, from automating tasks to advanced analytics, ensuring efficiency and strategic value. ➟ Strategic Supplier Partnerships: Develop collaborative and value-driven relationships with suppliers using methodologies like Vested sourcing. ➟ Drive Sustainable Procurement: Integrate sustainability into procurement strategies to reduce emissions and enhance long-term resilience and brand value. These priorities, identified by EY, reflect the shifting economic and social environment, guiding procurement leaders to navigate future trends and challenges effectively. Let's embrace these strategies to transform procurement into a powerhouse of efficiency and sustainability. #Procurement #CPO #SupplyChain #GenAI #Sustainability #StrategicPartnerships #EYInsights #2024Trends

Why has MTN Group been shortlisted for Best Use of Digital Technology at the 2024 CIPS MENA Excellence in Procurement Awards? The Nerve Center is an MTN GSSC solution designed to address access to real time procurement and supply chain data for analysis and decision making. It is an in-house platform designed and built on Oracle Cloud architecture. It covers 15 modules in the domains of Contract management, Demand Planning, Global Trade Management, Control Tower, Circular Economy, and Sourcing. With the launch of the Nerve Center, the business has achieved significant milestones: Contracts Management gained a 360-degree view, reducing sourcing process time by 47%, and improving supplier qualification by 24 days. Inventory Management saw granular visibility, and Planning contributed to increased savings through improved forecast accuracy. The integration of the Nerve Center with vendor systems enhanced order management and reduced delivery lead times by 50%. The Global Trade Management module enabled better cost tracking and compliance. Insights from the Nerve Center analytics is also beneficial for working capital management and improvements. Thank you to CIPS MENA for shortlisting our solution to #ConnecttoCreate! #Procurement  #CIPSMENA  #CIPSMENAAwards 

Don't miss out on the chance to dive into the world of category management transformation with #HCLTech! 🚀 Let's revamp how procurement drives business success together! Secure your spot for the panel discussion here: https://okt.to/3WYQiy #FinancialServices

Thrilled to share that HCLTech has been positioned as a #Leader in ISG (Information Services Group) Provider Lens™ Procurement Services - Procurement Operations Modernization Services. For this study, ISG assessed 42 companies and has recognized HCLTech as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services, 2024. Learn how HCLTech is making the supply chain of enterprises resilient, sustainable and future-ready: https://okt.to/xODX6Z #HCLTech #DigitalTransformation

Thrilled to share that HCLTech has been positioned as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services. For this study, ISG assessed 42 companies and has recognized HCLTech as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services, 2024. Learn how HCLTech is making the supply chain of enterprises resilient, sustainable and future-ready: https://okt.to/ygKi4U #HCLTech #DigitalTransformation

HOT OFF THE PRESS!!! Thrilled to share that HCLTech has been positioned as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services. For this study, ISG assessed 42 companies and has recognized HCLTech as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services, 2024. Learn how HCLTech is making the supply chain of enterprises resilient, sustainable and future-ready: https://okt.to/6Vn2p1 #HCLTech #DigitalTransformation

Thrilled to share that HCLTech has been positioned as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services. For this study, ISG assessed 42 companies and has recognized HCLTech as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services, 2024. Learn how HCLTech is making the supply chain of enterprises resilient, sustainable and future-ready: https://okt.to/GtiOrb #HCLTech #DigitalTransformation

Thrilled to share that HCLTech has been positioned as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services. For this study, ISG assessed 42 companies and has recognized HCLTech as a Leader in ISG Provider Lens™ Procurement Services - Procurement Operations Modernization Services, 2024. Learn how HCLTech is making the supply chain of enterprises resilient, sustainable and future-ready: https://okt.to/vPIRVs #HCLTech #DigitalTransformation