The procurement audit is a systematic and independent analysis to determine whether the activities and the results of these activities correspond to the planned demands and whether these demands are effective and suitable to achieve the objectives.
Most times, when procurement departments are set up, processes are determined, suppliers are selected and companies usually have fewer incentives to change or adapt to new situations. Such a model may work well within a stable environment but in reality companies face rapid changes internally and externally. This can be a change of the current business strategy, a re-structuring of the company, intensity of competition, fluctuating raw material prices, innovations in the industry etc. In these cases quick adjustments are mandatory.
An external audit conducted by purchasing professionals will help decision makers to get a clear picture of the performance status of its procurement department. Completing the Procurement Audit will give your organization the opportunity to identify and manage risks related to your procurement processes and purchasing prices to uncover savings potential.
Within a time frame of 2-4 weeks our professionals carry out a thorough analysis of your procurement organization, provide a fact-based status report, give an outlook how to overcome the problems and show which tools to use to optimize the current set-up.