Procure-to-Pay Workshop
Companies today are increasingly recognizing that supply chain initiatives can result in more than cost efficiencies. These progressive initiatives can provide strategic and competitive advantages that directly translate into improved financial and operational performance. Both manual and electronic supply chain systems, though, require checks and balances to ensure the processes are working effectively and efficiently (i.e., the proper service level agreements are fulfilled, the right prices are charged, purchase orders are transmitted correctly, invoices match, and suppliers are paid correctly for actual services delivered).
Even companies using enterprise systems have cause for concern as there are many opportunities for errors, and companies often have to find manual work arounds to support their procure-to-pay process, especially when supplier needs and requirements are constantly changing.
Companies need to have a planned process for managing the procure-to-pay cycle to ensure they are not bearing significant costs due to noncompliance to system or process requirements.
Babson and DRK Research LLC have partnered to create an innovative solution that combines the PMAT tool to measure your process maturity, and a workshop to help you benchmark your organization and learn the "next best practices" in procure-to-pay strategies.
Designed specifically for mid-level to senior leaders in supply, process, and procurement, this dynamic tool and workshop will help you learn:
- Fundamentals of process maturity and why it is so important to your organization and department
- Frameworks that demonstrate the role of each component of the procure-to-pay process within your overall supply chain system
- How to create a procure-to-pay strategy and implement a plan for improvement
Ultimately, this combined tool and workshop solution will help you improve operational efficiency, customer satisfaction, and financial performance.
The educator for the workshop is Dr. Kevin McCormack, CEO of DRK Research.
Dates: February 9, 2009
Cost: $1,500;
Cost for early registration before January 16, 2009: $1,200