SourceHidden 2Hidden 3Email HeaderThanks for taking the time to complete the questions. Your full report is compiled in the PDF attached.Email FooterMany thanks,Kavita CooperStrategyAvailable values for Topic 1Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you budget for all your buying activities?*We budget for large purchases.We have an overarching budget but buy tactically.Each department has its own budget and may plan locally.We have a budget and a comprehensive procurement plan.This field is required.MeasureAvailable values for Topic 2Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you analyse your spend?*Our systems aren’t sophisticated enough.For some projects or categories of spend.We run reports to find our top supplier spend.We run regular spend reports for analysis.This field is required.ApproachAvailable values for Topic 3Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Does your team use your buying policy?*We don’t have one for them to use.Staff are directed to buy low cost wherever possible.There is a policy but it’s not always used correctly.Yes, they follow strict policies and guidelines.This field is required.Do you have a formal process for buying goods and services?*We buy as and when we need.We encourage obtaining quotes for comparison.Approvals are required to move forward with quotes.We have a formal Procurement process to ensure value for money.This field is required.Who is responsible for large value buying projects?*Nobody specifically / anyone.Budget owners and/or finance.Project Manager and/or Operational Leads.Dedicated Procurement Expert/s.This field is required.RelationshipsAvailable values for Topic 4Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do your staff understand how they can help increase profit?*Most employees focus on increasing sales only.There is a current focus on reducing costs.Everyone has an objective to help increase profit.Everyone has an objective to help increase profit and supported by the procurement team.This field is required.What answer best describes your supplier relationship management?*Suppliers only contacted with new requirements and problems.Good intentions to build supplier relationships but not a priority.We arrange regular meetings with key suppliers.We have great relationships, benefiting collaborative activities.This field is required.TransformationAvailable values for Topic 5Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Do you check or review supplier contracts?*Individuals manage suppliers and hold their contracts locally.Contracts are formally reviewed on signing and when they are due for renewal.Contracts are centrally held and reviewed by owners periodically.Our process requires contracts to be regularly reviewed to ensure they are achieving KPI’s.This field is required.SegmentationHow did you hear about this quiz?*Friend/ColleagueGoogle/Search engineLinkedInFacebookOtherThis field is required.Please let us know who your friend/colleague is so we can say thank you:*This field is required.Other: please specify*This field is required.Final Details*One final step before we email you through your PDF report which includes: Your score... Your key areas of improvement Quick suggestions to improve each key areaYour personalised report will be emailed to you along with relevant tips supporting your score. View our Privacy Policy Phone This field is required.Identify the lowest topic numberDo not edit me. Showing the {N} lowest Key Areas of Improvement LOWEST(N) ~> LOWEST(2) HIGHEST(N) ~> HIGHEST(2) AND Check to is Total number of Highest / Lowest keys wanted to show on Appearance tab OR: use MIN / MAX and check to is Identify the lowest topic number on Appearance tab Topic 1 GapDo not edit me. Topic 2 GapDo not edit me.Topic 3 GapDo not edit me. Topic 4 GapDo not edit me.Topic 5 GapDo not edit me.Topic 1 Yes Most ImportantDo not edit me Topic 2 Yes Most ImportantDo not edit me.Topic 3 Yes Most ImportantDo not edit me Topic 4 Yes Most ImportantDo not edit me.Topic 5 Yes Most ImportantDo not edit me.General Feedback text for Overall score of 0-33%CLERICALLooks like Procurement isn't your strong point right now, but don't worry because help is on the way with some suggestions to start achieving quick wins to buy smart and save money.We'll share some tips to get you started so that you can spend more time thinking about your core product and less time thinking about how it buys stuff - we like that bit so let's make it easy.You need to focus on visibility to gain clarity and control of your existing spend. Putting some effort in here could be the equivalent of selling your product several times over without having to actually sell anything!General Feedback text for Overall score of 34-66%COMMERCIALWell done so far, you're clearly trying hard to get control of your spend and have the best intentions to make it work harder for you.We can also understand how frustrated you must be trying to get control of your suppliers whilst trying to focus on the core business. A lack of experienced or qualified procurement resource is your challenge.There's some great ideas on their way to you that might help extend the benefit of some simple to implement procurement ideas.General Feedback text for Overall score of 67-100%SUPPORTIVEYou're obviously doing well and working hard to get clarity over expenditure. You understand the benefit of identifying opportunities to improve profitability by being tactical with your purchasing. You're also already thinking about developing more formalised plans to embed a purchasing plan, but probably unsure where to start or find the expertise to develop a Procurement Strategy. You're right though: having an ambition for smarter purchasing will pay dividends.You're clearly an advocate of innovation and love to learn about new ideas, so we'll share some specific feedback that might just help you find a little more from your strategy to mitigate risks and save money in your business with a minimal investment of time and money.General Feedback text for Overall score of 67-100%STRATEGICGreat stuff! Your business is clearly on the journey toward strategic procurement.We'd love to learn more about what you do to implement your Procurement Strategy and how it supports both bottom and top line objectives.Innovation is the key to continuous improvement and to ensure the most effective supply chain for competitive edge so don't rest on your achievements to date - keep going. Think about whether you could find a suitable partner who can deliver Procurement as a Service to take over the day-to-day procurement activity.Put your Procurement Strategy together for others to see and understand the value you've brought to the business.Topic 1 Key Area of ImprovementStrategyTo get started begin with understanding your the business' strategy - are you growing, divesting, merging or acquiring or thinking about globalisation. Build a plan that supports those objectives. For example, if you have a new project or programme to support, what do you need to procure to meet it's objectives? Is it a new site, building, product, service or investment (i.e. IT). Practical Tip: SMC = Stop, Move, Continue.Focus on your 'tail spend' which is usually approximately 20% of your overall spend. Once identified, consider what you can STOP buying (unused or underused services); can you consolidate goods or services and MOVE them to a single (or fewer) supplier(s); where existing services are well supplied, CONTINUE with those providers, but review contract terms to ensure they are fit for purpose, have the right service levels, regulatory adherence and have the best commercials.Topic 2 Key Area of ImprovementMeasureThis is your greatest opportunity to take control of supplier spend. It will feel like drinking from a fire hose and the data is usually not the best quality, but that's the point of this exercise so that you can get control.Practical Tip: Identify your top 20 suppliers, locate their contracts, payment terms and pricing. Use this information to build a high level plan to approach those suppliers, renegotiate and recontract to save money. If they are unwilling, it's probably time to put them on notice and begin the process of looking for a new strategic supplier for those categories.Topic 3 Key Area of ImprovementApproachYou don't have a structured methodology to approach your suppliers right now, but you can quickly take control by focusing on your suppliers who have the most impact on your spend and pose the biggest risk.Practical Tip: Identify those suppliers where you process personal data and ensure those suppliers have up to date contracts with GDPR in place. Fragmentation amongst your suppliers (where you have multiple suppliers delivering the same product or service) will be costing your business time and money. Review your most significant categories and start the process of consolidation immediately. Think about running a proper process or basic tender activity to get the best result.Crucially, nominate a stakeholder in your management team who can be responsible for taking control of spend and make them accountable for bringing consistency to the buying behaviour across the organisation.Topic 4 Key Area of ImprovementRelationshipsIt feels exhausting and chaotic when you need something as you have no strong relationships with suppliers and certainly no structure. You probably search for suppliers as and when you need them or your team have developed personal preferences or relationships with suppliers they trust. This means you have little or no control over the potential for volume discounts or supplier rebates. Internally, your team don't understand the importance of a structured buying plan or the significant contribution they can make to the success of your business and it's profitability.Practical Tip: Internally, arrange to meet budget holders from across the business (you can do this in groups), gather their feedback about trusted suppliers so that they have a contribution to the purchasing plan; the more input they have, the greater your chances of success and improving profitability. If you haven't already, identify your top 3 suppliers by spend and reach out asking to build a more valuable relationship. Invite them to meet you and discuss how you can put them on a more formal, strategic footing and what benefit that will bring you both. Use your internal feedback to inform these discussions.Topic 5 Key Area of ImprovementTransformationLike most disciplines, it's maintaining them regularly that makes the difference between healthy or not. Taking control always feels good and getting into a good habit of logging contracts in a central location so that you can quickly and easily refer to them or, more importantly, renegotiate in advance of their end date will improve the health of your profit margins.Practical Tip: Once you have agreed a contract with a supplier, immediately capture the salient details in a central location (this can be as simple as a spreadsheet), making sure to capture key information to include at least: Contract Signature Date, Contract End Date, Commitments (term or spend value), contact information, service/product supplied. Now that you have this information, you should also set reminders in your calendar for your most significant contracts. Remember that contracts take time to review and planning for the process to replace or negotiate a new deal will mean you should open those dialogues well in advance of any contract end date. There is no 'one size fits all', but as a rule of thumb, consider beginning the process at least six months in advance. If you conclude early you can always get the benefits sooner. Using a third party procurement solutions company to manage this is a highly effective way to manage contracts and a lot less expensive than recruiting a qualified and experienced procurement expert who should be focused on more valuable activities. These companies can also complete end-to-end contract negotiations in collaboration with your organisation. Our recommendation would be to avoid 'no win no fee' procurement consultants - they are motivated by the wrong objectives and, in our experience, usually cost you more money Transformation can only be achieved through continuous improvement.Call to Action 1<p>1. Learn how to implement the advice shared in this report so that you can save money and gain control over your buying process!</p> <p>2. Contact us to arrange a free procurement strategy session with one of our senior procurement professionals. Write to us at <a href="mailto:mailto:info@novo-k.com">info@novo-k.com</a>.</p> <p>3. Explore our <a href="http://www.novo-k.com/spend-analysis-and-oportunity/">Spend Analysis and Opportunity Assessment</a> to gain clarity over your buying behaviour to identify supplier risks while discovering how you can save money!</p> Call to Action 2We'd like to help you get some control and take advantage of all the savings you can make right away.Contact us to arrange a free procurement strategy session with one of our senior procurement directors. Email us at marketing@novo-k.com.Find out how to take control and start saving money immediately without expensive investment through SMARTanalysisCall to Action 3We'd love to help you maximise your savings and explore how to get the most from your supply chain.Learn how you can develop your supplier relationships and increase the savings and efficiencies to be gained from refining your strategy. Contact us to arrange a free procurement strategy session with one of our senior procurement directors. Email us at marketing@novo-k.com.Find out how to take control and start saving money immediately without expensive investment through SMARTanalysisCall to Action 4Probably your only challenge now is whether you have enough resources to sustain and extend the impact procurement has across the organisation. For example: how do you flex resource up and down as needed, such as when you have a large programme to deliver? You could invest in additional qualified and experienced procurement people or consider a third party with the necessary experience and qualifications who can help you with procurement as and when you need it. We can help you explore this, contact us to arrange a free procurement strategy session with one of our senior procurement directors. Email us at marketing@novo-k.com.You may be interested to find out how to take control and start saving money immediately without expensive investment through SMARTanalysis Topic 1 Detailed Text for 0-33%To get started begin with understanding your the business' strategy - are you growing, divesting, merging or acquiring or thinking about globalisation. Build a plan that supports those objectives. For example, if you have a new project or programme to support, what do you need to procure to meet it's objectives? Is it a new site, building, product, service or investment (i.e. IT). Practical Tip: SMC = Stop, Move, Continue. Focus on your 'tail spend' which is usually approximately 20% of your overall spend. Once identified, consider what you can STOP buying (unused or underused services); can you consolidate goods or services and MOVE them to a single (or fewer) supplier(s); where existing services are well supplied, CONTINUE with those providers, but review contract terms to ensure they are fit for purpose, have the right service levels, regulatory adherence and have the best commercials. Topic 1 Detailed Text for 34-66%You might be frustrated by the lack of knowledge, but you'll get solace from gaining some clarity by locating all your supplier contracts and listing them alongside their end dates. Build a separate project log (can be as simple as a spreadsheet) that identifies upcoming procurement activity (you may need to ask stakeholders for their input) and include actions from the contract register. Practical Tip: SMC = Stop, Move, Continue. Focus on your 'tail spend' which is usually approximately 20% of your overall spend. Once identified, consider what you can STOP buying (unused or underused services); can you consolidate goods or services and MOVE them to a single (or fewer) supplier(s); where existing services are well supplied, CONTINUE with those providers, but review contract terms to ensure they are fit for purpose, have the right service levels, regulatory adherence and have the best commercials. Topic 1 Detailed Text for 34-66%You're clearly in better control of your procurement than most; well done. Communication is key to take you to the next level of strategic procurement engagement. Practical Tip: Put procurement savings into your budgeting period so that the budget owners are focused and targeted on supporting savings as part of the delivery KPIs. This way, the budget holders are more likely to think of procurement as a business partner rather than 'spend police'. Topic 1 Detailed Text for 67-100%You clearly have a strong procurement strategy and have engaged the internal stakeholders - that's pretty rare and valuable. Your focus now should be on supplier engagement, from sharing your business values to attract like minded businesses in the supply chain, to understanding how suppliers can be more innovative to become partners. Practical Tip: Have a 'Supplier Day' and invite suppliers to hear from your executive team about the company's ambitions and how they can support and contribute and help deliver your savings. This is always a great way to foster closer partnerships, generate healthy competition and find outstanding suppliers lower down in your supply chain. Topic 2 Detailed Text for 0-33%This is your greatest opportunity to take control of supplier spend. It will feel like drinking from a fire hose and the data is usually not the best quality, but that's the point of this exercise so that you can get control. Practical Tip: Identify your top 20 suppliers, locate their contracts, payment terms and pricing. Use this information to build a high level plan to approach those suppliers, renegotiate and recontract to save money. If they are unwilling, it's probably time to put them on notice and begin the process of looking for a new strategic supplier for those categories. Topic 2 Detailed Text for 34-66%It can feel like a hamster wheel some days so now's probably a good time to focus on smaller numbers that have bigger impacts. Take a look at the number of suppliers delivering in the same categories and identify how and when you can consolidate. Start tracking the number of invoices/transactions each month and look for the opportunities to reduce these; this might be as simple as asking a key supplier for consolidated invoicing each month/quarter. Practical Tip: Review and and extract at least one full financial year's invoice data and categorise it (use a suitable taxonomy). Use your top 3 categories to complete some analysis for quick wins that will save money and protect the company from risk (i.e. regulatory, financial, operational, reputation, environmental etc). Topic 2 Detailed Text for 34-66%Having an understanding of the top suppliers and spend categories is great but not the whole picture. Sometimes the biggest risks come from the activity with your smallest suppliers. Completing a spend analysis not only gives clarity on spend but also where you have 'in-date' agreements with organisations. some suppliers can go under the radar and an analysis will bring this out. Also Tail spend (small spend across large number of suppliers) is a great tactical win and you can implement a simple Stop Move or Continue strategy. Practical Tip: Benchmarking - don't just wait until the end of your suppliers' contracts to check value for money. Particularly for longer contracts there may have been technology advances, exchange fluctuations, regulatory changes or competitive commercial pressure that means you should consider approaching a supplier about renegotiating earlier than planned. Topic 2 Detailed Text for 67-100%You're already in control of your spend and have visibility of the suppliers' services to you. Now that operating in the optimum procurement zone, the relentless tasks of measuring suppliers performance can be a distraction from the work that will have greater impact for the organisation. Practical Tip: Consider how you can automate this now (if you haven't already) or use a third party to assist. Topic 3 Detailed Text for 0-33%You don't have a structured methodology to approach your suppliers right now, but you can quickly take control by focusing on your suppliers who have the most impact on your spend and pose the biggest risk. Practical Tip: Identify those suppliers where you process personal data and ensure those suppliers have up to date contracts with GDPR in place. Fragmentation amongst your suppliers (where you have multiple suppliers delivering the same product or service) will be costing your business time and money. Review your most significant categories and start the process of consolidation immediately. Think about running a proper process or basic tender activity to get the best result. Crucially, nominate a stakeholder in your management team who can be responsible for taking control of spend and make them accountable for bringing consistency to the buying behaviour across the organisation. Topic 3 Detailed Text for 34-66%It feels pretty frustrating and you probably feel like a lone wolf trying to get support for your ideas and a move to better planning in your supply chain. Think about taking control by focusing on your suppliers who have the most impact on your spend and pose the biggest risk. Crucially, nominate a stakeholder in your management team who can be responsible for taking control of spend and make them accountable for bringing consistency to the buying behaviour across the organisation. Make sure you you are not exposed to risk from gaps in General Data Protection Regulation (GDPR) by ensuring supplier contracts are up to date and include GDPR. Topic 3 Detailed Text for 34-66%You know enough to see the gaps and realise the opportunity to save money and protect the organisation; now it's time to put some structure around this. Practical Tip: Formalise a procurement structure where you can review projects (or larger programmes) to quickly predict and assess the consequences of the various outcomes. You can then adjust the plan to apply different approaches based on organisational risk. ie financial, reputation, operational. For example: what happens if a particular project doesn't go ahead vs. the value if it does. Topic 3 Detailed Text for 67-100%The organisation has clearly done a lot of work to reach this point and procurement is already an integral part of the company's nervous system. Like any vital organ in the body, it still needs looking after so don't neglect it's health and keep innovating - better still: ask your suppliers what they are doing to innovate processes, technology, commercials, AI etc. Practical Tip: Internal PR, PR, PR . . . and some training. Take full advantage of your success and ensure it is communicated throughout the organisation alongside practical advice for helping stakeholders succeed working in partnership with the procurement team. Topic 4 Detailed Text for 0-33%It feels exhausting and chaotic when you need something as you have no strong relationships with suppliers and certainly no structure. You probably search for suppliers as and when you need them or your team have developed personal preferences or relationships with suppliers they trust. This means you have little or no control over the potential for volume discounts or supplier rebates. Internally, your team don't understand the importance of a structured buying plan or the significant contribution they can make to the success of your business and it's profitability. Practical Tip: Internally, arrange to meet budget holders from across the business (you can do this in groups), gather their feedback about trusted suppliers so that they have a contribution to the purchasing plan; the more input they have, the greater your chances of success and improving profitability. If you haven't already, identify your top 3 suppliers by spend and reach out asking to build a more valuable relationship. Invite them to meet you and discuss how you can put them on a more formal, strategic footing and what benefit that will bring you both. Use your internal feedback to inform these discussions. Topic 4 Detailed Text for 34-66%You probably have best of intentions each and every time to buy something, but this means you are repeating the work load each time you need to purchase. This is both time consuming and does not allow you to delegate purchasing activity to other budget holders. Internally, the team feel the pressure to get the best deal (price driven), or their project can be delayed because you're trying to do the best job fulfilling the needs and reducing costs. In turn, this leaves your stakeholders frustrated and helpless to deliver value. Your most significant suppliers are probably exhausted (possibly given up) attempting to build a stronger relationship and are frustrated by the lack of consistency - knowingly or unknowingly, this is hurting your organisation. Practical Tip: Allocate someone to be accountable for the procurement plan. Now that you've acknowledged the challenge it's time to take control. Internally: Have each department head meet with the procurement owner and discuss the most significant suppliers in the business; agree what works, why those suppliers add value and begin building a criteria for 'what good looks like'. Use this new criteria to approach existing suppliers (and potential new ones) and align values as the starting point. By finding these commonalities and synergies you'll automatically start to build stronger, more valuable relationships with them. Be prepared to collaborate - what will you offer in exchange for better terms, prices, support or enhanced services? Topic 4 Detailed Text for 34-66%Having a plan is important to you and it's clear you've got some control over spend and how to get the most from your suppliers. Be careful not to neglect your relationships with suppliers - it's easy to think that you've 'done enough', but remember that to maximise the benefits and ensure risks are mitigated, you must acknowledge this is an ongoing process that must be reviewed at regular intervals; once a year is not enough. It's pretty impressive to have internal support of any kind, so to have employees engaged with the goal to improve profitability shows you have a plan people understand. Practical Tip: Take your relationship with suppliers to the next level by asking them to proactively contribute to your plans specifically with innovation and automation. Right now there's a lot of conversations about Artificial Intelligence (AI) and realistically, there are plenty of purchasing activities that can be automated or improved with technology. Keep in mind that human relationships can't be replaced. Explore working with a third party that can be accountable for some (or all) of your procurement activity so that you can focus on core business and key strategic partners. Procurement resource is expensive and keeping up with trends makes it an increasingly fast paced discipline, so finding a partner that can take that responsibility will pay dividends and reduce the cost of managing the procurement function. Internally, think about identifying owners/stakeholders who would benefit from meeting key strategic suppliers to generate those new, innovative ideas. Your plans are strong so there is no risk to the momentum you have created; better to encourage suppliers to go that extra mile with with the opportunity to meet the people they impact the most and hear how they might improve services. Topic 4 Detailed Text for 67-100%Relationships depend on trust and a commitment to empathy to find common ground and being open to the possibility of a partnership model. You obviously understand the value of regular supplier meetings, encouraging innovation. You can probably call on your significant suppliers to provide that extra support when you need it most and that's a skill few have masters. Procurement is now so well embedded in your organisation that often the employees and, crucially, stakeholders see procurement as an enabler and part of the team that can bring valuable input to key projects and programmes. Practical Tip: Celebrate success with case studies and testimonials from within the company. You can also reduce the burden on the procurement and finance team, by rolling out some basic training for people who are impacted and could see the value of deeper engagement. Also consider applying a procurement strategy . . . to your procurement strategy! Think about Procurement As A Service (PaaS) from a partner who can alleviate some of the burden especially in managing tail spend, contract management, taxonomy and increasing value from the contracts. Topic 5 Detailed Text for 0-33%Like most disciplines, it's maintaining them regularly that makes the difference between healthy or not. Taking control always feels good and getting into a good habit of logging contracts in a central location so that you can quickly and easily refer to them or, more importantly, renegotiate in advance of their end date will improve the health of your profit margins. Practical Tip: Once you have agreed a contract with a supplier, immediately capture the salient details in a central location (this can be as simple as a spreadsheet), making sure to capture key information to include at least: Contract Signature Date, Contract End Date, Commitments (term or spend value), contact information, service/product supplied. Now that you have this information, you should also set reminders in your calendar for your most significant contracts. Remember that contracts take time to review and planning for the process to replace or negotiate a new deal will mean you should open those dialogues well in advance of any contract end date. There is no 'one size fits all', but as a rule of thumb, consider beginning the process at least six months in advance. If you conclude early you can always get the benefits sooner. Using a third party procurement solutions company to manage this is a highly effective way to manage contracts and a lot less expensive than recruiting a qualified and experienced procurement expert who should be focused on more valuable activities. These companies can also complete end-to-end contract negotiations in collaboration with your organisation. Our recommendation would be to avoid 'no win no fee' procurement consultants - they are motivated by the wrong objectives and, in our experience, usually cost you more money Transformation can only be achieved through continuous improvement. Topic 5 Detailed Text for 34-66%Like most disciplines, it's maintaining them regularly that makes the difference between healthy or not. Taking control always feels good and getting into a good habit of logging contracts in a central location so that you can quickly and easily refer to them or, more importantly, renegotiate in advance of their end date will improve the health of your profit margins. Practical Tip: Once you have agreed a contract with a supplier, immediately capture the salient details in a central location (this can be as simple as a spreadsheet), making sure to capture key information to include at least: Contract Signature Date, Contract End Date, Commitments (term or spend value), contact information, service/product supplied. Now that you have this information, you should also set reminders in your calendar for your most significant contracts. Remember that contracts take time to review and planning for the process to replace or negotiate a new deal will mean you should open those dialogues well in advance of any contract end date. There is no 'one size fits all', but as a rule of thumb, consider beginning the process at least six months in advance. If you conclude early you can always get the benefits sooner. Using a third party procurement solutions company to manage this is a highly effective way to manage contracts and a lot less expensive than recruiting a qualified and experienced procurement expert who should be focused on more valuable activities. These companies can also complete end-to-end contract negotiations in collaboration with your organisation. Our recommendation would be to avoid 'no win no fee' procurement consultants - they are motivated by the wrong objectives and, in our experience, usually cost you more money. Transformation can only be achieved through continuous improvement. Topic 5 Detailed Text for 34-66%Like most disciplines, it's maintaining them regularly that makes the difference between healthy or not. Taking control always feels good and getting into a good habit of logging contracts in a central location so that you can quickly and easily refer to them or, more importantly, renegotiate in advance of their end date will improve the health of your profit margins. Having stakeholders involved is a fantastic way to increase collaboration, just remember that if they don't hold procurement related performance measures, they will concentrate, quite rightly, on their core activities. You should have an owner centrally who is accountable for maintaining the health of all supplier contracts and ensuring they don't expire. Practical Tip: With contract data captured centrally set reminders in your calendar. Remember that contracts take time to review and planning for the process to replace or negotiate a new deal will mean you should open those dialogues well in advance of any contract end date. There is no 'one size fits all', but never forget that some contracts take months or years. If you conclude early you can always get the benefits sooner. Using a third party procurement solutions company to manage this is a highly effective way to manage contracts and a lot less expensive than recruiting a qualified and experienced procurement expert who should be focused on more valuable activities. Our recommendation would be to avoid 'no win no fee' procurement consultants - they are motivated by the wrong objectives and, in our experience, usually cost you more money. Transformation can only be achieved through continuous improvement. Topic 5 Detailed Text for 67-100%You already know that continuous improvement is key to sustained profit improvement and good governance. The next step is to ensure that more people know about it and understand the decisions you've made. Practical Tip: To many who don't understand procurement, or even how to run a business, some decisions seems strange and counter productive - you've probably heard rumblings about some of your purchasing decisions - so make sure everyone understands the value. Periodically release information that demonstrates how it benefits them. How much investment you've been able to make as a result of good procurement or the benefits everyone has enjoyed as a result of the plan: new kitchen privileges, refurbished office, new laptops etc. Using a third party procurement solutions company to manage this is a highly effective way to manage contracts and a lot less expensive than recruiting a qualified and experienced procurement expert who should be focused on more valuable activities. Our recommendation would be to avoid 'no win no fee' procurement consultants - they are motivated by the wrong objectives and, in our experience, usually cost you more money. Topic 1 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 2 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 3 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 4 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 5 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.TestimonialsTestimonial 1“We approached Novo-K to help us understand the options for tail spend management at Inmarsat. They completed a thorough, detailed and high quality piece of work which has helped us shape our thinking and make a decision on how best to move forward. The Novo-K Dataction team were supportive, approachable and professional throughout”Alexandre Maria Procurement Manager SRM & Change, InmarsatTestimonial 2“Novo-K successfully delivered SMARTtraining programme for our UK Procurement Team. Using their experienced procurement trainers, they delivered a highly professional and results focused service. We thoroughly enjoyed working with the Novo-K team.”Vanessa Taibo Operations Director, UK SantanderOverall Total NumberAdd in ALL questions below. This will simply add up all questions and give a total number of points for all. Overall Current PercentageCreation note: Change "40" to the number of total points available in this quiz. E.g. Total of 6 questions is 4x6 = "24". Total of 8 questions is 4x8 = "32". etc All topics have 100% scored - MessageDont change Label Final score is LowDo not edit me. Final score is MediumDo not edit me. Final score is HighDo not edit me. Key Area(s) of Improvement Title