ARTICLE
5 FEB 2016

How can $140 million just disappear?

Australian businesses urgently need to find a solution to an average $140 million shortfall between the savings negotiated by its procurement teams and the money hitting the bottom line. The Faculty has taken up the challenge to work with Australia’s leading organisations to close the gap and make savings stick.

Tackling this challenge will require some out-of-the-box thinking, which is why the focus of The Faculty’s 9th Asia-Pacific CPO Forum will be on fostering innovation. Attendees will hear from a host of inspirational speakers providing new thinking not only around supplier product development, but how to create an innovative culture in their procurement team and discover new ways to solve existing problems – including how to make savings stick.

Keith Bird, General Manager of The Faculty and former CPO of the Year, explains: “In essence, Australian businesses have a $140 million-dollar challenge, and The Faculty has developed a multi-pronged approach to address this major gap and make savings stick. We’ve created business networks within the Australian and Asia Roundtables where CPOs share their knowledge and take solutions straight back to their organisations for implementation. At the organisational level, we’re providing tailored training to procurement teams with a strong focus on change management. Most importantly, the Asia-Pacific CPO Forum will provide that crucial spark to help the region’s top commercial leaders crack the code and problem-solve through innovative thinking to plug the savings leak before it becomes a torrent.”     

Click here to register for the 9th Asia-Pacific CPO Forum.

Click here to download The Faculty’s Making it Stick research paper

Click here to learn more about The Faculty Roundtables

Click here to learn about The Faculty’s capability and training solutions