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LinkedIn Blog: Procurement credit?

Thoughts aloud: how to stimulate the global procurement industry to implement and unite procurement standards?

One potential way. Last week, I had checked the methodology of Credit rating analysis of the Big Three agencies about indirect procurement of things and discovered that there are actually a couple of things. The spending part usually involves evaluating from an accounting standards perspective and not from the reasonable or strategic side. In simple words, a company can have an «A+» credit rating with excellent reporting quality, but lack mature control over what they are buying. I saw some initiatives with Procurement standards last year. For example — COPC, but they are not active in the marketing industry and mostly focus on an educational area, rather than the «must-have» principle.

I see the headlines: Fitch has raised the rating of the company, because the company had implemented global procurement standard. And next, see how stock starts growing. It is another side of Value…

@olegremizov

04-12-2017

Creating Value through Procurement

Опубликовано в English Procurement