Outsourcing i.e. contracting out the manufacture of products, works and also services has been a dominant factor in procurement for a number of years. Many organisations have concentrated on reducing costs by moving production to low cost manufacturing countries. Overall the emphasis in the final decision is aimed at acquiring […]
The primary role of the procurement professional is to help an organisation meet its collective goals and objectives. The collective goals of a business or organisation might include a wide range of objectives such as, profitability, standing in the marketplace, market share, competitive position in terms of the quality and […]
Sub-prime lending and Credit Card debt – Another financial crisis on the horizon!
The level of unsecued debt in the UK this year is just under £201 billion. Credit card debt in June totalled £68.5billion. At a time of economic uncertainty over the impact of the UK leaving the European Union […]
The Modern Business Environment – the foundation for effective governance.
The modern business environment characterizes the management style, corporate culture, values, philosophy, operating style, the organisational structure, and the human resources policies and procedures deployed by the Chief Executive Officer or the governing body of an organisation. It is the foundation […]
Is procurement and supply chain management important?
Not to some international organisations involved in Procurement – Marketing Services it seems. I read recently that Proctor & Gamble propose to follow PepsiCo’s decision (made back in 2015) to get rid of its procurement function that buys marketing services! This does not say much […]
Governance failure in major airline.
Has their been a “governance failure – major airline”, British airways? Judge for yourself:
Fights cancelled worldwide;
Thousands of passengers forced to sit in aircraft stranded for hours;
Lack of information for passengers;
A likely compensation bill of £100m;
A public relations […]
What is meant by Risk Management & Internal Controls
Risk Management & Internal Controls – Standards, guidelines, resource centres, institutes, gateways; an entire industry formed around fundamental business practices commonly known as risk management and internal controls. Yet, how much is really known about this business process and how much of […]
We often hear about the ‘dysfunctional internal controls environment’. Here are some interesting headlines I came across in the press recently, all in the space of two weeks. I felt I should share these with you.
“Three snared after Barrett fraud probe”. Barrett is one of Britain’s biggest house builders. The […]
What is the difference between Internal Audit and Internal Control?
I am frequently asked the question; ‘What is the difference between Internal Audit and Internal Control?’ There is a huge difference in the professions.
Internal Audit is the frequent or ongoing audit conducted by an organisation’s own personnel. The Internal Auditor […]