Prudential plc, a multinational insurance company headquartered in London was established over 170 years ago. Traditionally all purchasing was carried out at the local business unit level. The new Head of Procurement was mandated by the Board to move to a centralised category management structure.
Project Aim:
- Implementation of category management
- Recruit and develop category management team
- Involve stakeholders in the strategic sourcing process
- Introduce a strategic sourcing process and upskill purchasing team to deliver significant benefits
Outcomes:
- Category management training and implementation
- Effective and diverse long-term category plans on key spend items developed and implemented
- Stakeholder buy-in achieved via training for the new approach through “sourcing influencer workshops”
- Consolidated approach delivered substantial cost savings and value to the business
ADR Services Used:
- Tailored Instructor-led workshops on category management, strategic sourcing & stakeholder engagement
- Advisory services
