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Strategic Procurement Strategy
Project: Strategic Procurement Strategy
Client: Lehman Brothers
Industry: Investment Banking
Role: Procurement
Developing best value purchasing at Lehman Brothers
With an annual spend of more than US$100 million it was vital for global investment bank Lehman Brothers to run its purchasing activity effectively during a recruitment period to find a permanent purchasing director.
The need for an expert in strategic procurement
The bank took the decision to appoint an interim manager. PA recommended Robert Wesley, a senior executive with over 20 years'experience in purchasing with BTR pic, Inchcape Pacific and Alliance & Leicester.
Improved leadership
Robert was appointed on a three-month contract initially, which was extended for a further three months, whilst the permanent recruitment was underway. The benefit of his appointment came from improved leadership of major contract negotiations covering all Lehman Brothers' business areas in Europe, direction and guidance to the four-person central team buying desktop technology and stationery supplies and improved supply chain management.
Negotiating new contracts
A number of major suppliers were reviewed and a group-wide contract data base was established to help control the negotiation of new contracts and to promote a move towards the use of a smaller number of preferred suppliers offering best value.
This included appraisals and reviews of the current suppliers and the introduction of service-level agreements including competition and termination clauses which meant that if the prices from one supplier moved out of line with competitors, Lehman Brothers had the right to switch suppliers, without penalty.
"At the completion of the six-month assignment the purchasing team was in good shape and there was heightened awareness around the group of the benefits that can be derived from professional purchasing. I was then able to hand over to the permanent purchasing director when he came on board."
Robert Wesley
Interim Manager
Contact Impact Executives
Email us at info@impactexecutives.com or phone on +44 (0)20 7314 2011
