Procurement strategy
Organizational
and operating
model
Category management
Supplier management
Source: Bain & Company
Select a procurement area to see which of its processes have the most potential
Social and sustainability
Operational procurement
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Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Back
Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Back
Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Back
Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Back
Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Back
Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Generative AI potential | ProCUREMENT
Generative AI potential | ProCUREMENT
Generative AI potential | ProCUREMENT
Generative AI potential | ProCUREMENT
Generative AI potential | ProCUREMENT
Procurement strategy
Organizational and operating model
Category management
Supplier management
Social and sustainability
Operational procurement
Generative AI potential | PROCUREMENT
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Category intelligence
Categorization
Demand management
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Summarize market intelligence information to help develop and adjust category strategies
Categorize expenses, and provide spend overview to category managers
Validate and classify invoices to enable spend cube development
Collect and summarize historical spend data to help establish baselines by type of goods and services, vendor, category, or business unit
Collect business demand and direct it to the most appropriate sourcing path while providing procurement resources with early visibility
Draft and develop RFx materials
Review supplier database to suggest potential vendors for specific category
Review commercial offer, extract relevant information, and provide initial rating
Draft negotiation prep materials, collecting and collating key market trends
Category strategy
Spend visibility
Source to contract
Spend cube
Request for x (RFx)
Trends
Supplier identification
Commercial offer review
Negotiation
Contract
Category intelligence
Categorization
Demand management
Spend cube
Request for x (RFx)
Trends
Supplier identification
Commercial offer review
Negotiation
Contract
Category strategy
Spend visibility
Source to contract
Draft and develop contract terms and conditions
Talent management
Roles and responsibilities
Performance management
Strategy development
Macro trends
Supplier intelligence
Supplier development
Supplier profiles
Supplier onboarding
Reports
Innovation
Risk management
Supplier communication
Performance management
Contract management
Audit
Environmental sustainability
Governance
Policy and controls
Review
Requisition to pay
Navigation
Master data management
Transactional activities
Support onboarding and training of procurement team members (e.g., generating training content, creating personalized learning plans, etc.)
Write job descriptions based on roles and responsibilities
Integrate and automatically update performance metrics
Review internal documents, email exchanges, etc. to help quickly identify most critical points for procurement functional strategy development
Identify macro trends affecting core businesses and procurement departments
Collect and summarize market data to build a report that includes market competitiveness, market share, capabilities, etc.
Summarize analysts’ reports, and highlight key insights that may impact supplier profile
Summarize publicly and other available information to help evaluate supplier fitness to do business (financial, regulatory, reputational, etc.)
Draft supplier onboarding materials
Screen market to help identify potential sources of innovation
Facilitate automated communication with supplier through chatbot for clarification
of questions and negotiations
Draft and develop supplier score cards and key performance indicators (KPIs)
Proactive contract management and performance tracking tethered to enterprise resource planning (ERP), scorecards, etc.
Conduct contract audits comparing with standard company guidelines
Review and summarize supplier information to help objectively assess sustainability practices
Draft procurement sustainability reports
Review policies and identify gaps in current procurement strategy
Automate and guide stakeholder navigation of sourcing and procurement policies, transactions, processes, etc.
Identify errors (e.g., duplicate entries) in supplier master file and generate a new, cleaned up master file
Automate manual, repetitive work involving unstructured data (e.g., exception management in invoice and account payable reconciliations)
Fill out purchase orders for a supplier