Why Join TTPF
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.
“It’s for me to buy products, services and works from suppliers that are aligned to my values.”
We can no longer decide only on price, speed and quality … but factor in sustainability, humanity, fraud, benchmark, modern slavery, social value….
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 on procurement, or how probable it is that procurement costs feature prominently in the demise of many companies.
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……
TTP 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 on 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.
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 responsibility issues can impact any business, even if unethical practices are discovered two or three tiers deep in the procurement. 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.
Do please express your interest by subscribing below, reading our white-paper, linking to our social media platforms, 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