Essential Steps to Transition from an Average to a World Class Procurement (Podcast featuring Lalit Dhamija )

https://www.zycus.com/knowledge-hub/podcast/essential-steps-to-transition-from-an-average-to-a-world-class-procurement.html

Essential Steps to Transition from an Average to a World Class Procurement

The biggest challenge that prevents organizations from investing in the best in-class technology solution for their procurement function is their scepticism over ROI. This scepticism not only inhibits their journey from an average to a world class procurement function but also affect their bottom line in longer run. According to a latest research report by Hackett group, an organization with world class procurement function typically generates a 10.7X return on its investment as compared to 4.7X for an organization with average procurement function.

But does investing in a best-in-class Source-to-Pay technology solution is sufficient for an organization to transition from an average to a world class procurement or are their some necessary measures that an organization need to follow in order to launch them on to the zenith of success in procurement? Tune in to the latest Podcast “Essential Steps to Transition from an Average to a World Class Procurement” by Mr. Lalit Dhamija to understand –

  • The definition of a World Class Procurement
  • Key Performance Metrics for World Class Procurement
  • Industries in Middle East that are transitioning to a World Class Procurement
  • How prepared are organizations in the Middle East for a next wave of procurement transformation
  • What is the role of a digital savvy talent pool in achieving the next procurement transformation
  • What organizations need to do to face the second wave of procurement transformation

About Author –

Mr Lalit Dhamija is a fellow of the Chartered Institute of Procurement and Supply (CIPS). He is an experienced supply chain practitioner in Oil and Gas industry with over 38 years’ of experience. He is also an executive Chairman of CIPS UAE Branch Committees and regularly contributes to the procurement body of knowledge through active participation in events, seminars, and conferences. Lalit previously worked for Abu Dhabi National Oil Company (ADNOC) group as a ‘Procedure and Process Assurance Manager’ for 28 years till the end of 2017. He is currently active as a corporate procurement and supply chain trainer and consultant and travels globally for training and coaching C-Suite executives of MNCs. For more information visit his website – www.lalitdhamija.com

Adding Enterprise Value with Better Procurement Practices in the Middle East (Podcast featuring Lalit Dhamija)

https://www.zycus.com/knowledge-hub/podcast/adding-enterprise-value-with-better-procurement-practices.html

Adding Enterprise Value with Better Procurement Practices in the Middle East

Procurement practices in the Middle East have been evolving rapidly. The changing macroeconomic factors have led the organizations to look at procurement department not just for traditional cost savings but also to add value to the overall company. From adopting digitalization to increasingly taking interest in evolving technologies like Blockchain, AI, RPA, etc. the organizations in the Middle East are witnessing it all. The majority of organizations in some form or another have embarked on making their procurement processes digital. This is evidenced by the increasing number of e-procurement solution providers making their presence felt in the region.

Some of them may go for acquiring a specific e-procurement module for driving efficiency in the chosen areas e.g. Vendor Master Data management, Contracts Management, etc. rather than a complete end to end solution. Selecting a complete Source-to-Suite still remains a challenging process as it depends on various factors such as Word-of-Mouth and RFX response.

So how organizations in the Middle East are making sure that they are on the right path while it comes to procurement transformation? Tune in to our latest podcast ‘Adding Enterprise Value with Better Procurement Practices in the Middle East’ by Mr. Lalit Dhamija to know –

  • Current Procurement Practices Being Followed in the Middle East
  • Impact of New Economic Norms on Procurement Function
  • Centralized Vs Decentralized Procurement
  • Procurement Digitization Roadmap by Organizations in the Middle East
  • Role of Supplier Management in Achieving Strategic Alignment
  • Importance of Having a Complete Source–to-Pay Suite of Solutions

About Author –

Mr Lalit Dhamija is a fellow of the Chartered Institute of Procurement and Supply (CIPS). He is an experienced supply chain practitioner in Oil and Gas industry with over 38 years’ of experience. He is also an executive Chairman of CIPS UAE Branch Committees and regularly contributes to the procurement body of knowledge through active participation in events, seminars, and conferences. Lalit previously worked for Abu Dhabi National Oil Company (ADNOC) group as a ‘Procedure and Process Assurance Manager’ for 28 years till the end of 2017. He is currently active as a corporate procurement and supply chain trainer and consultant and travels globally for training and coaching C-Suite executives of MNCs. For more information visit his website – www.lalitdhamija.com

Chaired the Prefab and Modular Construction Summit – Dubai : 21st February 2018

Linkedin Post : https://www.linkedin.com/pulse/faster-smarter-greener-lalit/

 

 

 

 

Photos to the Event : https://tinyurl.com/modcondubai

 – Prefab and Modular Construction

It was an honour to chair Prefab & Modular Construction 2018 Summit held on 21st Feb at Sheraton Grand Hotel in Dubai to packed house with prominent CEOs, CFOs, COOs, VPs, Directors, Senior Managers and Heads from various Government & Private companies. Keynote speech was given by Eng. Anwaar Al Shimmari, Director Design Department , Ministry of Infrastructure Development UAE http://spade-group.com/Modcon/ 

Al Ain Municipality, Atkins, Affordable Housing Institute, Al Masaood Bergum, Arabtec, China Construction, CH2M, Emmar @emaardubai, Expo2020 @expo2020dubai ,Khatib & Alami, Sobha Developers,Off-Site Engineering Solutions FZE, Sharjah University, Synertrade @SynerTrade , Ministry of Infrastructure Development, Mott Macdonald, Modular Concepts, UAE University & other eminent companies participated.

Prefab & Modular Construction is fast and efficient installation process reducing the on-site construction time by approx half & overall cost reduction up to 30% over traditional methods. It has benefits of Just in time (JIT) delivery to projects thus reducing storage time at site. Unlike conventional methods of construction, prefab and modular construction requires more time in planning & approvals but less time in execution in better controlled and safer working conditions. Prefab industries have come up with zero waste practices and use of green materials for eco-friendly finishes. Latest technology involving Artificial Intelligence (AI), Internet of Things (IOT), 3D Printing, Drone, Augmented Reality and Robots are being used by certain organisations in the industry. There may be transportation and logistics issues in transporting over dimensional consignments at site as well as modifications at site may be difficult to execute. Industry is also looking for common standards and regulations which they can adhere to. There was a need felt to join forces among the industry players to establish industry norms specifications in coordination with concerned stakeholders for the sake of consistency and compliance.

Major draw back deterring in its adoption is the erroneous perception that building structure is with inferior quality which doesn’t offer long-lasting solution. Nevertheless there are plans on the drawing board for setting up a 55 floor prefab and modular construction building in Dubai in the near future

Plant Automation Technology : Interview with Lalit Dhamija on Modular Construction

https://www.plantautomation-technology.com/interviews/adco

Key dimensions in pursuit of Procurement success

Key dimensions in pursuit of Procurement success
• Alignment with organisation goals to bring business benefits
• Assessment, selection and adoption of evolving technologies to make Procurement efficient
• Optimisation of strategic, operational and tactical processes to make Procurement agile
• Suppliers as well as Client own performance management to drive performance in identified areas

Lalit Dhamija

Quotes on Procurement and Supply Chain

The new era of procurement and supply 

“We are at a pivotal moment in history. As the 4th industrial revolution matures it seems to promise us a futuristic vision, one where everything is possible. As with all past revolutions in industrial technology, supply chains and how they are managed are set to transform radically and completely. As Supply Chain Management adjusts to the changing world by actively seeking out and employing the latest technologies and the people who will use them, we shall usher in The New Era of Procurement & Supply.”

-Sidhant Dhamija , Chairman of Chartered Institute of Procurement and Supply- CIPS MENA Millennials Group

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