The client, a Manufacturing group into Special purpose Machines with presence in India and USA, required support to conduct procurement and supply chain audit and also perform process transformation.

1. Audited areas such as PR/PO process, vendor selection, tendering, contract management, pricing analysis, single sourced procurements, inventory storage & consumption, minimum level order, payment and delivery terms. Goods receipt, vendor performance, dispatch planning, payment controls, etc.

2. The Procurement Process Transformation included assessing the actual procurement process in correlation with the standard operating procedures, Audit of purchase invoices and their correlation with purchase orders, verified the contracts. Recommended and ensured thorough discipline and timely renewals/changes. Also assessed the control checks for goods inward and goods outward, reviewed the procedures of making payments to vendors in comparison with the credit period allowed and highlighted any payments made before the credit period, analysed the working capital management of the company and recommended appropriate actions to strengthen the same

1. Transformed critical procurement process of the organization.

2. Uncovered insights from the audited areas to identify opportunities for improvement and mitigate risks.

3. The process transformation program helped achieve efficiency in the working capital management