LEAN PROCUREMENT
A disproportionate amount of waste in a value chain is directly linked to procurement processes not working properly. Companies often lack clarity over their supply chain and therefore struggle to localise and differentiate value from waste. Balancing procurement related activities that are “necessary waste” with those that create value presents an ongoing struggle for companies of all sizes. The benefits of applying Lean Principles for procurement managers and purchasing activities can dramatically affect a company’s cash flow and its bottom line.