Procurement – a vast strategic opportunity for businesses in Vietnam
Many businesses in Vietnam have grown considerably over the last ten years. The primary business goal has been top line growth and it is only recently that a more cost focused corporate culture has begun to emerge. Procurement, as a function within an organisation and as a recognised career path, is developing quickly, here in Vietnam. As top line growth becomes more challenging, identifying opportunities to reduce cost within businesses has become critical to delivering stronger financial performance and developing a solid cost base for future growth.In response to this, PwC Vietnam has launched the first specialist procurement consulting division and is already working with clients to reduce costs and develop their procurement functions. Typically our initial project will be a procurement maturity assessment under which we will analyze an organisation’s spending and review processes, people and policies in order to develop a road-map for delivering rapid cost savings and more robust policies.
The key questions that our clients are asking us, include:
1. How can we reduce cost in our organisation?
2. Is my procurement function operating effectively?
3. How can I increase visibility on total spending?
4. How do I centralize procurement?
5. How do I ensure procurement is conducted ethically?
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