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With the tightening of the global economy, companies are taking a different look at the way they invest their money. Certain areas, formerly exempt from budget measures, are being looked at with increased scrutiny in order to assist with making the bottom line stronger. The marketing department is one of those areas. Today, marketing budgets are being tightened and marketing managers are scrutinizing where to invest their dollars for optimal return. This is where marketing procurement comes into play. The marketing procurement space is a very slippery slope. This is due to two primary reasons. First, the area is very relationship-driven and emotionally sits very close to the stakeholder’s heart. Second, procurement professionals in this area do not typically migrate from the client side of the organization. Another reason is the perceived uniqueness of the marketing offerings. While most marketing campaigns are in fact unique, the process through which such campaigns are developed is not. And that’s where the opportunities lie – to deconstruct the process and get to the right procurement model. Here are six such opportunities.
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1. APPLY PROPER COMMODITYMANAGEMENT TECHNIQUES
2. LEVERAGE INNOVATIVEPROCUREMENT TECHNOLOGIES
3. OUTSOURCE MARKETINGPRODUCTION
In many companies, the marketing function is yet to be subjected to the rigors of process-driven procurement. This is because of the perceived uniqueness of marketing o�erings. While most
marketing campaigns are in fact unique, the process through which such campaigns are developed is not. And that’s where the opportunities lie – to deconstruct the process and get to
the right procurement model. Here are 6 such opportunities.
6 areas of opportunityin marketing procurement
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InfosysBPO.com/procurement_strategy
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#Procurement
Even in mature areas, such as printing in marketing support, techniques like competitive bidding, tiered discounts,
and performance-based targets can deliver savings up to 15%
6. BUILD A TEAM OF SPECIALISTS
Large savings can be realized by evaluating production contracts
against the parameters that relate to cost, quality, and time; while
executing all production-related activities through third-party
providers
Marketing support and production can bene�t from technology-driven
processes like reverse auctions, e-bidding, aggregators/consolidators
and e-catalogs
Look for a BPO partner with category management consultants who come
from the marketing business and possess a deep comprehensive
knowledge of marketing operations
4. APPROACH PROCUREMENT OFMARKETING SERVICES COLLABORATIVELY
The most successful negotiations will be the result of a three-way
partnership between procurement, marketing stakeholders, and
supplier agencies
5. IDENTIFY OPPORTUNITIES FROMSIGNIFICANT EXPENDITURE
Procurement negotiations with deep involvement of agencies across
consumer, professional, and digital media can deliver signi�cant savings even with small percentage changes
THE SOURCING AND PROCUREMENT(S&P) SERIES