Tag: procurement

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Now is the time for a professional procurement team

Current economic climate makes professional venue find procurement vital for corporates, says EDGE Venues Jacqui Kavanagh…

Jacqui believes expert input can bolster technology platforms to maximise results.

Corporate governance, risk and financial challenges currently combine with the need for live events to support staff retention, brand differentiation and ultimate business growth. This makes partnering with professional procurement teams a must for event teams and for buyers.

Recent changes in the delivery of events, with virtual and hybrid, have resulted in a shift and increase in expertise required for events teams. But these teams are already overloaded with demands as clients and businesses return to live activity to achieve business goals. 

Additionally, with the daily changing economic climate, I believe professional venue procurement is more vital than ever. My view considers corporates booking meetings and events who must ensure budgets are spent wisely and return on investment is a given, not a risk. Professional event planners want and deserve the best support during this time, and technology tools with the personal touch and knowledge deliver the best of both worlds. 

Let’s face it every penny counts right now

Technology can support transparency, but people want – and need – to stay in control. Professional venue procurement teams can do that, while ensuring there are no surprises for any stakeholders. A professional venue procurement team can also underpin a quality mitigation approach to cancellation and terms of requirements, while boosting corporate governance in sustainability and risk management.

Technology can simplify tasks and support a professional organisation if the tech is agile enough to transform alongside corporate and agency business needs. Yet, meetings and events still need people to manage more complex requirements. This need is the reason we’ve retained the EDGE Venues’ model of ‘technology with personality’. We provide a professional venue procurement team behind the tech, for businesses which don’t have experts in-house.

What our clients say about our venue find procurement team…

An EDGE Venues contracted client within the Pharma sector is already using our technology and service. She supported my view when we spoke at EDGE Venues recent Business Intelligence event: “With such an influx of new people into our industry, it’s crucial for us to work with an experienced and professional venue procurement team. For a start, it gives us the security that our meetings and events business can remain compliant. 

“We have worked with Jacqui and the team at EDGE Venues for more than 15 years, using their venue procurement services and technology. EDGE has become one of the best in the business at delivering innovation and intuition, making our lives easier. We were consulted throughout the whole technology build, and the EDGE team continues to listen and act on our needs as corporate planners.

 “We can manage many of our venue bookings online, yet knowing we have a dedicated and consultative expert team gives us confidence from additional support for more complex processes where required. It’s crucial for us where value for money is concerned.”

*Pharma companies are not able to personally endorse products or services and this is a personal view.

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Procurement: Ask the Experts

Procurement is often seen as a dirty word focusing only on price and terms rather than fit for purpose and value for money.

Jacqui Kavanagh shares her thoughts on procurement and suggests the following approach…

Commercials

Be clear and transparent on your commercial proposition. There is a fear that someone will come in and it will immediately cost the company money whilst they lose control. Try offering a pilot with some key deliverables.

People

One of the biggest problems to companies who would like to add a control and process system to their procurement of products is that the people who have been in control of the procurement process have often been doing this outside their job role and they like doing it. I.e. booking venues, buying travel etc.

Sadly, this means that sometimes it is very hard to actually know who is responsible for what as it is such a fragmented approach. The key features and benefits need to demonstrate that whilst the procurement process is being controlled, the selection process can still remain in the domain of these people. Therefore, you are not taking away what could be perceived as a nice or good part of their job.

Selection process by experts

Experts will be invested in that market and will know what the market prices are; whether they are going up or down, what are the trends, what’s hot and what is not! The ultimate decision maker then benefits from that expert advice.

Noise

Searching for goods and services online delivers lots of noise which can be very stressful for already time poor executives that are supporting the sourcing process over and above the day job

Manage risk

It may be very easy to be swayed by slick sales and glossy websites, but without a proper assessment process on suppliers there may be a risk to the business to buying from the wrong company that does not align with your Corporate Governance – e.g. CSR, Human Rights or even current legislation. Also, when people leave then the knowledge and relationship, and sometimes deals, leave with them, reducing control by the company.

Save time

Sourcing products often without knowing a full specification of what is needed due to lack of training is very time consuming and it is hard to quantify the time being spent on this process. Having a procurement process on supplier selection will save time and increase choice as the initial and time-consuming process of selection of suitable suppliers can we done by experts the choice. Matching the strive to the specific requirement then becomes a quality led process to find the fit for purpose.

Procurement - save time on your processes

Transparent process

With the movement of people it’s important to have a strong process that that can be audited and ensure that it keeps delivering value for the company. This then allows the process to be measured which can then be managed.

Visibility of cost savings

Monthly reporting on cost saving that can be drilled down by product or region allows visibility of the where the costing saving are being made these can then allow the market share to be managed.

Audit-able process

The company needs to protect itself and ensure that all purchases can withstand the scrutiny of how the purchasing process is run. This is especially relevant and valuable in compliance led markets

Reduction of numbers of suppliers

Thus allowing for a more refined and managed purchasing system to be managed in the business again delivering cost savings due to process management which does not reduce cost or choice.

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ABPCO launches sustainability report and roadmap

Timed to coincide with the opening of the COP24 climate talks in Katowice, Poland, ABPCO has released a report and Roadmap for the creation of a more sustainable events industry.

Following attendance at a United Nations Environment Programme (UNEP) workshop in Paris in October titled: “Leveraging Sustainable Procurement Practices to Transform Tourism Value Chains”, ABPCO and its members gathered to consider the areas where the industry can have the most significant impact on the creation of a sustainable future.

Using the United Nations Sustainable Development Goals, ABPCO identified a desire for the industry to do more in areas of:

  • Responsible production and consumption
  • Quality education and partnerships
  • Reducing inequalities

The UNEP workshop in Paris also highlighted an opportunity for the event industry to collaborate closely with the wider hospitality sector in the following key areas:

  • Phasing out single-use plastics
  • Sustainable food procurement
  • Circularity in the supply chain

ABPCO’s report and Sustainability Roadmap were launched at IBTM last week alongside attendees from UNEP, Positive Impact and other industry leaders focused on sustainability.

“COP24 will ensure the world is focused on sustainability over the coming days so there was no better time to launch both our report and Sustainability Roadmap,” comments Heather Lishman, ABPCO’s Association Director, who has been leading the project on behalf of the association.  “We have worked with members from both the supply and demand side of the industry to identify where we can have the greatest impact, whilst ensuring the whole sector continues to deliver maximum value for those looking to use events as a means of education, communication and business development.”

Positive Impacts Fiona Pelham comments: “ABPCO has shown significant leadership by attending, contributing to and communicating about a UN environment event on behalf of the global event industry.  ABPCO members should be extremely proud that their association is taking leading action to protect our future and the future of the Events industry.”

The Sustainability Roadmap and Report are both available via  https://www.abpco.org/news/