Pictured above: Simon Griffiths, Chief Executive of
MAS-WM
Controlling purchasing costs can help companies save money every
year according to a leading industrial expert.
PEDA's Peter Hales has teamed up with the Manufacturing Advisory
Service - West Midlands (MAS-WM) to put on a series of workshops
designed to equip local firms with the tools they need to maximise
their spend and get better value for money.
The next three sessions, which will be held at Stourbridge Rugby
Club (19th Oct), Coventry and Warwickshire Chamber (20th Oct) and
Cannock Cricket and Hockey Club (21st Oct), will give purchasing
professionals techniques for managing their supply chain,
optimising material spend and identifying innovative ways of buying
services.
There will also be a focus on the acquisition of capital plant
so that companies can free up cash within their business.
"Purchasing controls between 50-80% of all costs for most
manufacturers so getting it right is vitally important," explained
Peter Hales.
"It is the biggest opportunity to deliver 'bottom line'
improvement, with just a 5% increase in performance equivalent to
increasing sales turnover by 50% or more. These workshops will
provide the knowledge to help firms maximise profitability by
adopting good practices."
The sessions are completely free of charge to West Midlands SMEs
and will be delivered by PEDA, who boast more than 50 years'
combined experience in lean manufacturing.
In addition to core purchasing skills, delegates will receive a
detailed insight into managing low-value purchases and embracing
e-commerce, not to mention a guide to the 'pros and cons' of low
cost sourcing.
Simon Griffiths, Chief Executive of MAS-WM, urged companies to
consider taking part:
"When we go out and visit firms they tell us they all want to
increases sales, yet very few have considered improving their
purchasing methods in order to become more profitable.
"These workshops will provide advice and guidance on taking the
initial steps and then manufacturers can access more in-depth and
specialist advice by undertaking a business review from one of our
specialist advisers."
He concluded: "Delegates that attend can also benefit from
networking with like minded businesses and can use the seminar as
an official part of their continued personal development."
MAS-WM, which is a project part-funded by Advantage West
Midlands and the European Regional Development Fund (ERDF), has
assisted over 6000 companies to improve their products,
productivity, process and people, adding over £250m to the
turnovers of those firms.
Future purchasing related seminars will take place in November
and January, entitled 'Getting best value from purchasing' and
"Selecting and evaluating suppliers.'