Pledge to create a better future through resource management using the latest 4th industrial revolution technologies of AI, Blockchain and IoT to equip young professionals for growth and impact the wealth of their organisations, their communities, and ultimately their nations; the resource management of everything that has intrinsic value to society such as natural sustainable riches, intellectual assets and even financial instruments including procurement spend.
- Buyers & Suppliers
- Supply Chain Functions
- Business Priorities
What We Do
We invite you to join us and pledge your personal commitment at no cost, for your organisations to partner with us, and industry leaders to develop this legacy together. We at the TTP Foundation, in return, pledge to provide education, discussion and debate forums, develop innovation, pilots and standards, as well as employment and empowerment opportunities for our members.
Why Join TTP Foundation
Markets, communities, organisations and nations’ competitive strengths may differ, but the supply chains apply a common set of principles to achieve results and avoid problems. It is when one or more of those principles is ignored that SUPPLY CHAIN DEFECT sets in. The penalty to be paid can vary. It can be anything from evaporating profits, mounting job dissatisfaction, bankruptcy , liquidation, insecurity, unemployment, inequality, poverty to deaths. Better products or services, more taxes, retrenchments won’t help us get out of the abyss if the KINKS in the chain are too big or too many and this can be devastating and extremely difficult to recover from.
TTP AND ORGANIZATIONS’ SUCCESS
Organizations with global supply chains, a portfolio which includes a fast-growing number of corporations, medium-sized companies and even small businesses—can be standing on a cost base of which 90% is attributable to procurement expenditure. It does not matter whether you are a procurement professional, internal customer, external customer, senior executive, or supplier. Directly or indirectly, you are affected. Procurement is what sets entire supply chains and their organisations in motion. How procurement handles itself and its activities set the tone for all the events that follow, right up to the final delivery of goods and services to the end-customer.
Organizations face continuing pressure to transform their procurements and deliver value. To be sure your business will be thriving through to the next 5-10 years and beyond, your procurement must be at the centre of management attention.
What is the opportunity?
Are you meeting your organizations procurement objectives?
We help you
By Guaranteeing the
- Right product
- Right quantity
- Right quality
- Right time
- Right place
- Right price
- Right supplier
- Right values
Fortified by our TTP blockchain.
So, if the honest answer is “NO” to any of these questions, then definitely there are golden opportunities to improve your procurement & supply chain operation with TTP & TTPB—and drive your business towards a bright and successful future.
Developing a best-in-class procurement is no easy task, and it takes time. The time is worth taking and investments worth making.
Whether you are the CEO of an expanding corporation, or the owner of a fledgling enterprise, its fortunes are subject to an undeniable truth. The success of your business is inextricably linked to the performance of your procurement. If you want business success (and who doesn’t?), you have to make your procurement successful too.
Governments world over already recognize that PROCUREMENT is one of the greatest instruments to achieve national objectives, and are enacting laws to align it with their values.
Some key honest questions to ask yourself on why you should join TTP.
- Do you have closely aligned procurement, business and CSR strategies? Have you thought about your stakeholders?
- Do you regularly review and optimize your procurement network? Are you capturing all the opportunities, savings, benefits that you could?
- Are you continuously and actively seeking procurement service improvements? Are you connected to your suppliers? Do you have a digital strategy?
- Do you have visibility and control of procurement costs? Industry Benchmark and Market Intelligence? Is your information in order?
- Have you implemented a supplier performance management, enterprise, and supplier development & diversity programs? Are you measuring the right things?
- Are you taking steps to mitigate risk in your procurement? Do you have visibility? How are you mitigating risk?
- Is your inventory being managed effectively? What of product quality and traceability ? How about your working capital? Do you have the insights you need to make good decisions? What of your payment to terms?
- Do you have an active contract management & administration program? Do you know how to execute? How do you monitor & measure performance?
- Are you worried of unethical issues and losses due to fraud in your procurement?
- Have you ever wondered if your procurement team, suppliers and stakeholders are well equipped, knowledgeable to deliver? Do they have the right skills?
Members ...and counting...
Do please express your interest by subscribing below, reading out white-paper, linking to our social media, joining our mailing list, or contacting us to discuss further. We have deliberately avoided launching with an initial group of exclusive partners to ensure full access to all. True to our open source values, we aim to bring value to all participants irrespective of size, of support, or membership.SubscribePress Release
How Transnational Transparent Procurement Makes a Better World
Avoid Unnecessary Losses
The World Economic Forum (WEF) reports that approximately $2 trillion U.S. dollars are wasted every year by purchasing decisions. Some of those poor decisions may be intentionally unethical; most of them though, are unintentional and rather, a result of an error-laden, misguided procurement process.
The WEF also reports that at least 18% of our global GDP is spent in the public sector annually - In most developing countries this percentage is as high as 30%+ of the GDP. With such high figures, imagine how different our world would be if people made the right purchasing decisions every time? If corruption, quality and value weren’t a concern? Hospitals would have better equipment for better patient care; universities and school districts would have better resources for better learning experiences; citizens would have better roadways, parks and services.
A better world can be uncovered when smart spending decisions lead to equal opportunity, more innovation, better healthcare, better education, better infrastructure, market competition, higher quality products and ultimately, improved quality of life.
By “fixing” procurement, a hidden lever will be unlocked that will drastically transform the world.
PROCURING WITH OUR VALUES
In our daily lives we procure not with money, but with our values. We buy cars that bring us ‘joy’, purchase clothes that ‘empower’, acquire services that make us ‘happy’ … and reject offers that do not match our ‘hopes’. Institutional procurement is moving in the same direction – we no longer decide only on price, speed and quality … but factor in sustainability, modern slavery, and social value. TTPF is not just about efficient payments, alignment of buyer-supplier values, blockchain logistics, sustainability or modern slavery … it’s about of all of it – Total Value Procurement.
TTP, TTPB and Business Success, By the Numbers
If you want business success (and who doesn’t?), you have to make your procurement successful too. 30-90% of business turnover and country’s revenues are spent on procurement similarly
4.5% total purchasing cost reduction has the same impact on profit as 28% increase in revenue/sales/turnover in most leading industries/sectors.
This illustrates how critical the interrelations are between a business and its procurement. It can be deduced that poor procurement performance commonly contributes to corporate or business failure. Similarly, it can be safely assumed that in many cases, businesses that fail, do so because of financial problems. It’s not difficult to see how the financial health of a business depends procurement, or how probable it is that procurement costs feature prominently in the demise of many companies. So where does this all lead us? Well … it simply highlights just how important procurement and its management is to the success of businesses operating in today’s local and global space.
Transparency with TTP Blockchain
Transparency means an unimpeded visibility. Transparency is paramount in all procurement activities. What we buy, what we eat, the suppliers we partner with, what we sell, what we produce, the values by which we transact. TTP Blockchain and AI will change this processes dramatically.” Procurement risks, purchasing fraud, bribery, social risks, slavery, can and does happen to the biggest companies on the planet, and several government examples are legendary.
Therefore central to TTPB is achieving procurement probity and is to;
- provide accountability & fair competition;
- maintain procurement process integrity, impartiality and immutability;
- ensure authenticity and traceability of the procurement cycle
- maintain organization corporate image and brand;
- ensure compliance with processes & CSR targets;
- ensure that all offers will be evaluated against the same criteria;
- preserve public, consumer, buyer and supplier confidence in Organization’s processes;
- minimize potential conflicts and the potential for litigation;
- ensure the procurement activity provides the best outcome; and
- avoid the potential for misconduct, fraud and corruption
- maintain integrity, competence in staff, suppliers & stakeholders
- discover market opportunities, enable informed buying decisions
- identify, highlight, clarify, & mitigate procurement risks
- ensure processes are consistent, transparent and auditable
- ensure market equality, inclusivity and diversity……
“It’s for us to buy products, services and works from suppliers that are aligned to our values.”
We can no longer decide only on price, speed and quality … but factor in sustainability, humanity, fraud, benchmark, modern slavery, social value….The brands we represent can no longer afford to associate with brands that are not aligned to our values; because of the transparency afforded by various media platforms these intangible assets can decimate your tangible assets in a heartbeat.
The decision metric of procurement is not the just the dollar, but how aligned we are to those we procure from and with as well as those we sell to and with…We have seen an explosion in the number of commercial brands suffering tarnished reputations and loss of revenue as a result of unethical practices in their procurement.
Corporate governance & social responsibility issues can impact any business, even if unethical practices are discovered two or three tiers deep in the supply chain. Association with unethical partners might very well lead to financial disaster and business failure, as customers react to what they perceive as “your wrongdoings”.
If your procurement operates across international borders, out of sight must never be out of mind. To a large extent, your suppliers hold your business success (or lack of it), in their hands. There is therefore a need to manage supplier/buyer processes, contracts and agreements effectively. In the eyes of your customers, there is no distinction between the performance of your suppliers and that of your own company. The supply chain, as its name suggests, is only as strong as its weakest link.
It is surely time for procurement professionals to break away from the equivalence to the mundane world of accountants, auditors and actuaries, but to take our place at the top table in driving world change.
ENSURING THE RIGHT PARTNERSHIPS
In almost every industry, supplier-buyer, stakeholder, regulator synchronization can either make or break an organization's ability to service customers responsibly and reliably while maintaining cost effectiveness and managing assets effectively. Industries, markets and organisations may differ, but the supply chains apply a common set of principles to achieve results and avoid problems. It is when one or more of those principles is ignored by either player (s) that supply chain “sin” sets in. The penalty to be paid can vary. It can be anything from evaporating profits and mounting job dissatisfaction to bankruptcy and liquidation. Better products or services won’t help an enterprise get out of the abyss if the kinks in the chain are too big or too many.
- the seller is who he says he is,
- the buyer is who he says he is,
- all parties have the same and the right information
- the object of the transaction corresponds to what the purchaser thinks he is buying,
- the seller owns the object of the transaction,
- the buyer has the means to pay for the object of the transaction,
- the seller is aligned and compliant to the buyer values and vice verca
- there’s contract reward linkage with behaviour compliance adoption
- timely settlement, when the set criteria are met
Businesses aren’t just about what they produce. They’re also defined by what they purchase – necessities meant to support the quality of life, development, health, safety, comfort, and sanitation of their facilities, customers, employees and communities.
Every company, whether in times of economic boom or scarcity, is faced with the need to mitigate supply chain risks, cut costs , generate cash, manage CSR targets in order to achieve growth & secure their future. Effective collaboration and supply chain synchronization with key players, stakeholders & suppliers are critical success factors in serving customers, managing CSR targets and meeting strategic goals.
The Supplier’s Point of View
There is an assumption sometimes that villains in a procurement scandal must include the supplier. After all, if people involved in procurement have been corrupted, there must be a corruptor and suppliers can make good scapegoats. Yet many suppliers have their own written CSR targets, policies for employees about how to conduct sales activities and contract negotiation and management with clients across sectors.
Procurement teams would also do well to remember that suppliers that have behaved ethically and won business honestly also need to be paid in a timely way as well as recognized/celebrated. Otherwise, not only can motivation dwindle for upholding ethical, CSR standards and ensuring adherence to social values, but also there may be fewer surviving ethical suppliers to do business with anyway.
The immediate reaction to the idea of unsatisfactory procurement values is that it will be damaging for public relations if those values become known. This is true. In this information-rich and communication-enabled age, bad press can spread rapidly. Consumers and other members of society wield considerable power in the form of associations, forums and networks, whether online or offline. They know how to use that power to punish enterprises and organisations they consider offenders. Sanctions can include boycotting purchases of a company’s products or services, or voting governments out of power.
Supply chains and markets have globalized to such a degree that even some of the smallest businesses have supply chains spanning one or more international borders. It no longer matters that a business is an unwitting victim, or that the perpetrators are a supplier of a supplier of a supplier. There is an ethical chain of responsibility, and to be considered ethical and socially responsible, businesses must find ways to ensure they are squeaky clean and that no tier in
Supply chains and markets have globalized to such a degree that even some of the smallest businesses have supply chains spanning one or more international borders. It no longer matters that a business is an unwitting victim, or that the perpetrators are a supplier of a supplier of a supplier. There is an ethical chain of responsibility, and to be considered ethical and socially responsible, businesses must find ways to ensure they are squeaky clean and that no tier in the supply chain can be associated with such practices. This where you turn to TTP for these guarantees.
Procurement can find itself embroiled in events and situations that make world headlines. Values, Ethics—or lack of them—is often at the heart of the discussion. From the deaths of factory workers earning pittances to corruption and kickbacks in government contracts, procurement can be a hotbed of horror stories and scandals.
TTP and TTPB completely mitigates such headlines from emanating from within your organization. It ensure that suppliers are rewarded for complying to buyers, regulators values and barres those who do not comply from winning contracts or participating in the value chain. Across all tiers of your supply chain TTP and TTPB has you covered.
We help supplement the skills within your organization and are an extension of your team through our TTPB, experts, technologies and networks, we help fortify your organization against critical supply chain issues, errors, lapses, challenges and risks.
We never assume that doing the right thing in terms of procuring with our values is automatic. Ignorance, conflicts, partiality, vulnerability, doubt, temptation, and fear are dispersed and replaced by a clear social value model for all to follow under TTPB. The advantages to your organization (s) are greater efficiency and total value from procurement activities, a better brand image, and increased loyalty from suppliers, buyers to end-customers/consumers and appreciation from the public in general. We help ensure good behavior is rewarded by the buyers, stakeholders, regulators and the general public.