To get the most out of the procurement function, top-performing enterprises are redefining its role and aligning the function’s goals with corporate strategy.
A decade of globalisation-fueled competition has opened the eyes of executives everywhere to the strategic benefits that can be achieved through the intelligent leveraging of strategic procurement and supply management. These include more competitive supply chains, improved product quality and greater speed to market—in addition to the significant advantages of low-cost country sourcing.
To succeed, the role of procurement and supply management needs to evolve away from the narrow, transactional base as a purchaser of materials, components, and services.
Some procurement and supply-management organisations have managed to attract attention by taking the function to the next level. By integrating their activities more closely with those of their internal stakeholders, some procurement units have gained sustainable cost reductions in nontraditional areas (marketing or legal, for example) where previous optimisation efforts have failed. Others go further still, using their insights to challenge and enhance manufacturing or administration activities. Finally, some use procurement as a driver for innovation, leveraging a broader supplier base to enhance product offerings.
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Francine founded Coram Advisory Services in 2008. She graduated with a Masters Degree from the University of Oxford in Politics, Philosophy and Economics and is a Certified Financial Planner (CFP) with over 22 years of experience in the financial services industry. Prior to setting up Coram Advisory Services, she was Chief Marketing Officer at AXA China Region Insurance Company Limited.
Mrs. Kwong Fu is currently an Executive Committee member of the Keswick Foundation (since 2014), and a former board member of Li Po Chun United World College (Hong Kong) Limited, as well as a former Independent Non-Executive Director of Convoy Global Holdings Limited.
She has previously been a member of the Advisory Committee on Applied Mathematics for the Hong Kong Polytechnic University, a member of the committee on Investment-Linked Assurance and Pooled Retirement Funds, a member of the Investor Education Advisory Committee of the Hong Kong Securities and Futures Commission from April 2006 to March 2008 and a member of the Award Council of the Hong Kong Award for Young People from February 1994 to January 2002. Mrs. Kwong Fu was also President of the Institute of Financial Planners of Hong Kong from September 2008 to September 2010.
Daniel has over 30 years experience in supply chain and procurement with multinational corporations such as IHG, PepsiCo, the Swire Group, and KPMG Management Consulting. He has an extensive track record of strategy development, coupled with successful, multi-dimensional implementation results across diverse cultures.
Before joining Coram Advisory, he was most recently Vice-President of Procurement at InterContinental Hotels Group, responsible for strategic procurement and business partnering with stakeholders and suppliers across Greater China, Asia, Middle East and Africa regions. He led the organisation through a transformation of the procurement function, developing and leading an agile, centre-led organisation, to support not only corporate indirect spend, but also the rapidly growing needs of the direct spend of nearly 700 hotels operating across more than 40 countries. This included the launch of a next generation cloud-based procurement system with an e-commerce retail "look and feel” which is transforming the way IHG is sourcing for their hotels and managing supplier relationships. IHG won the 2018 CIPS Supply Management Asia Awards for the Most Innovative Use of Technology.
Previously as Head of Procurement for PepsiCo Asia Pacific, he led the strategic management of over US$1bn annual spend. His team delivered unprecedented levels of productivity, driving over US$80M savings over a 3 year period, and improving cash flow management by over US$12M over 2 years.
A graduate with honours from the University of Edinburgh, Daniel has worked in the US, UK, China, the Middle East, and across Asia Pacific.
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