Sendil Arasu Vijaya Kumar
Bio
I attained bachelor degree in mechanical engineering and master degree in marketing management, having 21 Years of professional work experience. International exposure in Supply Chain Procurement domain. Author of "The Procurement Acumen"
Stories (23)
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Value Analysis / Value Engineering
In the context of procurement, VA and VE are two related concepts that stand for Value Analysis (VA) and Value Engineering (VE). They are systematic approaches used to enhance the value of products, services, or processes while optimizing costs. Let's explore each concept in more detail:
By Sendil Arasu Vijaya Kumar3 years ago in Education
Zero Base Cost
Zero base cost in procurement refers to the practice of starting the budgeting process from a baseline of zero, rather than using historical figures or previous budgets as a starting point. It involves a thorough evaluation and justification of every expense or investment, requiring each item to prove its value and necessity before being included in the budget.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Globalization, Regionalization, and Localization
Globalization has been driving the market since 19th century and at present its true dominance has been observed due to advancement in communication and transportation. I could see a rat race among the top organizations across the globe to capitalize their benefits by adopting different globalization strategies to accelerate their business growth. This scenario motivates one to look for the opportunities that are needed to be explored to meet various customer demands.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Procurement transformation
Procurement transformation is a strategic process that involves changing the way a company procures goods and services. It typically involves a comprehensive overhaul of procurement processes, policies, and systems in order to achieve a more efficient and effective procurement function.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Entrepreneurial mind-set for procurement professionals
“Financials come as a result. So, like what’s the point of a company at all? Why even have companies? It’s like, a company is assembly of people gathered to create a product or service and deliver that product or service. As some time, people lost sight of that.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Best practices in supplier rationalization
Supplier rationalization is one of the most strategic yet enduring activities in a procurement organization. Most of the organizations are at a stage where they have very little visibility into their supplier base.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Building your own guided buying engine (supplier data base)
A supplier database is a collection of information about the vendors or suppliers that a company uses to procure goods or services. It can include data such as the supplier's name, contact information, products or services offered, pricing, delivery times, and any other relevant details.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Procurement : Resilient governance structure
Procurement is a critical function within any organization, responsible for sourcing, purchasing, and managing the goods and services necessary for the operation of the business. In today's rapidly changing and unpredictable business environment, it is essential to have a procurement governance structure that is resilient and adaptable to disruptions and challenges.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Safe Negotiation, Importance of Genuine Price Fixing
Law of business prohibits paying a little and getting more There are several examples and experiences which show that negotiation is a psychological game with high stakes – a game we humans play against one another more than 10,000 times per year for the average person or sometimes against all known and unknown opponents.
By Sendil Arasu Vijaya Kumar3 years ago in Journal
Procurement structure and operating model
When it comes to defining the most efficient and effective operating model for procurement functions, there are hardly any easy answers to be found for that. Procurement operating model needs to be consistent with a company’s overall business strategy and global organization footprint and aligned with its supplier market.
By Sendil Arasu Vijaya Kumar3 years ago in Education
Topmost deliverables of Procurement function
The roles and responsibilities of the entire procurement function in a business can be grouped into these topmost deliverables, starting with category management, which involves developing clear supplier strategies and organizing suppliers based on their classifications. Another important deliverable is managing innovation within the ecosystem. In addition, it is essential to uphold ethical standards and maintain compliance with the company's principles, which are considered to be core values.
By Sendil Arasu Vijaya Kumar3 years ago in Education
