Procurement Risks in New Zealand - cips.org · 2 Procurement Risks in New Zealand What procurement...

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Procurement Risks in New Zealand A CIPS – Grant Thornton Research Programme Leading global excellence in procurement and supply

Transcript of Procurement Risks in New Zealand - cips.org · 2 Procurement Risks in New Zealand What procurement...

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Procurement Risks in New ZealandA CIPS – Grant Thornton Research Programme

Leading global excellence in procurement and supply

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Procurement Risks in New Zealand

IntroductionThis White Paper – published at the 3rd New Zealand Public Sector Procurement Forum in Wellington – addresses information from the joint Grant Thornton-CIPS research programme conducted in 2012; the first, unique CIPS-research into New Zealand’s specific needs.

Professional procurement in New Zealand faces specific and rare challenges. Simply dealing with requirements at the tip of the global supply chain presents challenges but persuading international suppliers to ‘bother’ to supply a first-world market – that often requires only low-volumes – is a rare challenge.

This suggests buyers need Sales Skills to literally ‘sell’ the supplier on the idea, and worth, of supplying New Zealand, and to build valued relationships to sustain supply.

Surprisingly, given this increasing requirement, the research suggests that more than 50% of respondents do not yet see that procurement has achieved a strategic profile within their organisation.

With just 40% of organisations represented in this survey managing above 60% of addressable spend it would appear there is still some stakeholder buy-in to achieve. Worse, only 38% of respondents feel that their organisation is managing ‘risk’ well. Maybe this is a way for the procurement community to persuade top management that procurement has an increased role?

Suppliers overseas surely see the ‘risks’ of supplying New Zealand; especially with 43% organisations here saying they were significantly affected by natural disasters and extreme weather recently.

With 45% of respondents coming from the manufacturing, mining or utilities industries and 55% of respondents engaged on ‘direct expenditure’, this issue of supply-side ‘risk’ is a real one for the country.

Another clue from this research rests in the statistic that an overwhelming 85% of respondents feel that the ‘performance measures’ in place are not comprehensive enough, nor well used enough.

Maybe if we got this right, we could better demonstrate the value of professional procurement in dealing with the primary risks of attracting world-class supply lines into New Zealand.

The release of this White Paper also brings to a close a year of significantly increased CIPS’ commitment to New Zealand. While a copy of the White Paper will be mailed to all ‘Kiwi’ members, it is also available on our dedicated New Zealand website www.cips.org.nz which went live during our annual NZ Strategic Procurement Forum event in Auckland in May 2012.

CIPS New Zealand will continue to do all it can to help members and to develop the procurement community throughout 2013 and beyond.

Good luck.

Jonathan Dutton FCIPS Managing Director CIPS Australasia Wellington, 21st November 2012

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Executive summaryThe Chartered Institute of Purchasing and Supply Australasia (CIPSA) and Grant Thornton New Zealand collaborated to survey New Zealand organisations and benchmark the level of awareness and action related to the assessment, mitigation and management of procurement risks in New Zealand.

The sample set represents a significant number of New Zealand’s organisations from SMEs to large corporates. The target audience includes New Zealand CIPSA members and other key stakeholders from the New Zealand procurement community. 70% of the 200 respondents are from organisations with more than 500 employees and generate more than NZ$50m in revenue i.e. organisations regarded as large in the New Zealand economy. Over half of the organisations surveyed were from the manufacturing, public and utilities sectors.

SAP and Oracle are the main purchasing systems used by those surveyed. Respondents either led or participated in procurement, purchasing and supply chain duties and were responsible for a variety of spend categories, but with only half having the fiscal responsibilities for direct expenditure and corporate overheads.

Procurement experts live in a risk environmentTwo thirds of businesses were impacted by at least one moderate event – an impact equivalent to 5 – 10% of revenue with around one third impacted by at least one high impact event (10% – 20% of revenue). This represents an impact equivalent of $16 million per business. The big events noted were the global financial crisis and natural disasters including the Canterbury earthquakes and the Japanese tsunami. The main implications for procurement experts in relation to these events were supply quality and performance issues, supply chain disruptions, procurement failure and supplier disruptions. However, this is considered business as usual, and procurement experts expect the same level of disruption in the future.

Risk management maturity in procurement is relatively lowIn a constantly changing market environment where levels of risk are high you would expect a high standard of risk expertise. This is not the view of respondents, with just 23% rating the level of risk management maturity as being highLevels of risk training amongst procurement experts is low with 73% receiving no formal training and it is note that there is a lack of sophisticated tools being used to manage risk.

The survey indicates that the level of commitment or maturity of risk management within an organisation will not negate the number of events that occur, but the higher the maturity of risk management delivery, the better the response and the greater likelihood of minimising the impact on a business. The business rating high for risk management maturity were more likely to have a very high rating for the effectiveness of their response to the risk events.

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What procurement experts can take from this1. There is an absolute need to formalise risk management training amongst procurement experts

to respond to the risk environment.2. Procurement processes should embed both risk assessment and the planned response as part of

the procurement evaluation.

Management of supplier relationships should include on-going assessment and response to risk

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9. What is the annual level of income or revenue for your organisation (Organisations n=116)

15. Approx. total annual value of spend at your organisation (Organisations n=116)

13. Approx. how many suppliers does your organisation have (Organisations n=116)

8. How many employees does your organisation have (Organisations n=116)

Respondent profile

Spend and sectorThe survey represents views predominantly of large organisations i.e. those comprising 500 employees and more generating annual revenues of more than NZ$50m. This is consistent with the sample group made up of largely procurement professionals. Readers should note however, that the survey is not representative of the general New Zealand business demographic, given that 97% of businesses in New Zealand have 19 or less employees.

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Responsibilities of the procurement functionOver 80% of the respondents play a lead or participatory role in procurement, purchasing and supply chain responsibilities.

2. Which of the following responsibilities do you lead or participate in? (Individuals n=168)

7. Which industries / sectors does your organisation operate in (Individuals n=168)

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Most respondents also have responsibility over a variety of spend categories, though a comparatively low proportion have responsibility for direct expenditure (55%) and corporate overheads (45%).

Structure of procurement functionThe structure of procurement teams is evenly spread but leans towards the use of a centrally coordinated model. The size of procurement teams varies dramatically from one end of the scale to the other. A quarter of organisatons indicate they have teams of five or less and one third with teams of 20 plus.

11. Describe the structure of your procurement team (Organisations n=116)

12. Approx. how many people are responsible for sourcing / procurement activity in you organisation (Organisations n=116)

3. Which of the following categories do you have some responsibility for during the procurement process? (Individuals n=168)

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Risk management trainingMost respondents have not completed any formal risk management training and those that have, are most commonly trained in-house.

Risk management training is more commonly undertaken by respondents from the public sector with 500 plus employees.

4. Have you ever personally completed any formal risk management training? (Individuals n=168)

4. If yes, please specify training

Corporate / Private (n=68)

Public (n=84) 500+ employees (n=125)

Less than 500 employees (n=43)

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Spend managementMost procurement teams surveyed have active involvement in managing between 40 and 80% of spend in their organisations. Best practice see levels of 80% and above controlled by Procurement. The corporate / private organisations are doing much better than the public sector in this space, with 18% controlling more than 80% of spend versus 2% of public sector organisations surveyed.

73% of all respondents indicate that less than 80% of spend is currently under contract. A greater proportion of corporate / private organisations have active contracts for over 80% of procurement spend than public sector organisations.

16. Approx. percentage of spend that the procurement team has active involvement in managing (Organisations n=116)

17. Approx. percentage of procurement spend is currently under active contract (Individuals n=168)

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Tools and technology A number of tools are used by respondent organisations to manage procurement and supply chain related risk. Over 80% surveyed indicated they use performance management tools such as KPIs and supplier scorecards as a means of managing risk, followed closely by contract clauses, market intelligence, and insurance. More sophisticated risk management tools, the likes of scenario planning and predictive modelling simulation areless likely employed.

41. What tools does your company use to assess and manage risks facing procurement and supply-chain activity (Organisations n=93)

14. Which of the following e-procurement purchasing or tendering tools does your organisation use (Organisations n=116)

Over half those surveyed indicated the use of e-procurement / purchasing tools, predominantly GETS and TenderLink, with 40% indicating none are used. Use of e-procurement tools is heavily skewed towards public sector organisations with an average of 1.5 tools per organisation versus 0.6 tools for corporate / private sector organisations. The Ministry of Business, Innovation and Employment encourages all New Zealand public sector agencies, including local authorities, to publish information on GETS.

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Number of e-procurement tools used by sector (Organisations n=108)

10. Which purchasing system(s) does your organisation operate (Organistions n=116)

Number of purchasing systems used by sector (Organisations n=108)

SAP and Oracle are the most commonly used purchasing systems in the sample group. 7% of organisations state they use no systems and the 31% who indicated the use of ‘Other’ systems, are made up of 25 different purchasing systems. There is no material difference in the number of systems used between corporate / private and public organisations.

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Impacts of recent eventsThere have been a number of recent events both within New Zealand and offshore that have impacted on both procurement and supply. Understanding how events can impact procurement and supply allows businesses to better prepare for future events.

Event frequencyTwo thirds of organisations surveyed (67%) were impacted to a moderate extent by at least one recent event and about a third experienced high impacts by at least one of the events. Only 7% of organisations felt extreme impact from one of the recent events listed.

Natural events including the global financial crisis, the Canterbury earthquakes and the Japanese tsunami are cited as having the most impact on businesses.

33. Percentage of organisations impacted by at least one recent event at different levels of impact (Organisations n=94)

33. Percentage of organisations impacted moderately or higher by different recent events (Organisations n=94)

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The weighted average of the scale of the impact does not suggest that the impact was high across all organisations as it sits below ‘Moderate’ (3 on the right-hand scale), however, the combined value of the impacts across all organisations is estimated at $1.9 billion as illustrated below:

33. Scale of impact of recent events (Organisations n=94)

Value of impact recent events (Organisations n=94)

Event scale and impact

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When we examine the degree of impact experienced versus the types of risk that receive the most focus, there appear to be some anomalies. We would expect the graph below to show a relatively even distribution of risks if a business focused most on the risks that caused the greatest impact. However, the analysis suggests that some risks – ‘Price volatility’ and ‘Energy price increases’ – are not focussed on sufficiently, given the extent of impact they have on the organisation. ‘Reputational / ethical impact’ and ‘Legal / Regulatory non-compliance’ potentially receive too much attention given the impact they have had on an organisation.

Natural events have had the greatest cost impact overall, estimated at $560 million. The value split between Corporate / Private and Public for these events is relatively even, most likely due to the capital cost associated with rebuilding and the Public responsibility to the community. There is no way to stop natural events from occuring, but through planning, preparation and an understanding that these events will continue to take place, procurement and supply experts can limit the impact of these events.

The fact that the global financial crisis has the highest weighted average but a lower total value impact, indicates that smaller companies or those with lower revenues have been severely impacted by the global financial crisis. The responses suggest that the Canterbury earthquakes and Japanese tsunami have had a far greater cost impact on larger organisations than smaller organisations within New Zealand.

Types of impactsIn terms of the types of risk impacts experienced as a result of recent events, no single risk-impact stood out materially over any others. This suggests that events impact different businesses in different ways.

34. Scale of different risk impacts of recent events (Organisations n=60)

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Risk impacts most focused on vs. Average size of impact (Organisations n=60)

35. How effective has the organsation’s response been to the issues identified (Organisations n=94)

Response effectivenessMost organisations surveyed are comfortable with the manner in which they responded to recent events, although there is room for improvement with only 14% of organisations stating their response was ‘Very Effective’ and 16% saying ‘Minimally Effective’.

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Those with higher maturity ratings are generally more satisfied with the organisation’s response than those with lower maturity.

Procurement risk focus‘Supplier quality and performance’ is the risk impact that gets the most focus (time, discussion, planning) from procurement teams regardless of whether they are in the private or public sectors.

35. Assessment of response effectiveness by maturity level of organisation (Organisations n=94)

28. Which of the following risk impacts get the most focus (time, discussion, planning etc.) from your procurement team? (Individuals n=131)

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Respondents state that procurement is primarily accountable for most of the risk impacts presented. Those risk impacts where procurement isn’t primarily accountable, secondary accountability over its assessment and management is held by Procurement.

As most of the respondents are in procurement-related roles, you expect to see the greatest focus placed upon risk impacts where the Procurement function is deemed ultimately accountable. ‘Loss of IP’ for example, may not have a lot of focus as it is generally viewed as an issue to be dealt with by the Legal department.

‘Supplier failure / bankruptcy’ and ‘Energy price increases’ are risk impacts that procurement is accountable for, however they get very little focus compared with the other risks.

Future eventsRespondents believe that ‘Energy price increases’ are most likely to be felt within the next 12 months alongside ‘Price volatility and ‘Supplier quality and service performance’ impacts.

Primarily accountable

Secondary accountability

Loss of IP Legal ProcurementEnergy price increases Procurement FinanceProcurement process failure Procurement FinanceReputational / ethical impact Procurement LegalPolicy non compliance Procurement LegalSupplier dependency Procurement FinancePrice volatility (commodity / currency exchange rates / other) Procurement FinanceSupplier quality and service performance Procurement ManufacturingSupply chain disruptions / delays Procurement Supply ChainSupplier failure/bankruptcy Procurement FinanceLegal / Regulatory non-compliance Legal Procurement

39. The extent to which your business is likely to experience each of these risks in the next 12 months (Organisations n=93)

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Weighted averages of the impacts that each risk would have if it occurred in the next 12 months are all quite similar.

40. The extent of the negative impact if each of these risks were to occur in the next 12 months (Organisations n=93)

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Procurement capability Corporate / private organisations have more mature procurement capability across the procurement process than public sector organisations; however there is room for improvement all round.

On average, corporate / private organisations rate more highly across all elements of the procurement process than public sector organisations, however, only once – for ‘Contract establishment and set-up’ – does the maturity level rate above ‘Good’. Public sector organisations teeter on ‘OK’ against two aspects of the procurement process – ‘Needs analysis and developing requirements’ and ‘Sourcing and category management’.

As nine out of ten ratings sit below the ‘Good’ line, there is room for improvement across the board if ‘World Class’ procurement capability is to be achieved.

Maturity of procurement capability across the procurement process (All orgs n=116; Corp & Private n=55; Public n=53)

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Corporate / private organisations are also rated more mature in terms of their capability to manage procurement risk across the procurement process than public sector organisations. Again, there is room for improvement all round.

Maturity ratings are overall lower when it comes to managing procurement risk across the procurement process compared with procurement capability overall, indicating this is a specific area that procurement teams can focus on from a capability development perspective.

All organisations rate highest on managing procurement risk during the ‘Supplier performance management’ stage of the procurement process.

Public sector organisations slip below the ‘OK’ line on two attributes – ‘Procurement strategy and planning’ and ‘Sourcing and category management’ which is of some concern given the significant investment in Government procurement reform made by the Economic Development Group within the Ministry of Business, Innovation and Employment (formerly the Ministry of Economic Development). The lower scores for ‘Procurement strategy and planning’ and ‘Needs analysis and developing requirements’ indicate a lack of structured risk thinking in the early stages of procurement and subsequently Procurement Managers respond reactively to risk.

Maturity of capability to manage procurement risk across the procurement process (All orgs n=116; Corp & Private n=55; Public n=53)

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Creating H/M/L maturity segmentsWhen plotting average procurement capability maturity scores against capability in procurement risk management, we can see that the two are correlated, in that if a team is mature against one attribute they are more likely to be mature in the other.

18-27. Average procurement capability plotted against procurement risk management maturity (Organisations n=116)

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High maturity organisations (n=21):

• Are more likely to be corporate / private (62%)• Employ more risk tools on average (5.14)• More likely to have centralised procurement teams (52%)• Are more likely to employ smaller procurement teams (less than 5) and deal with fewer suppliers

(<500)• Less likely to have had risk management training (10% said yes)

Medium maturity organisations (n=68):

• Have a relatively even spread between corporate/private and public sector (51% versus 46%)• Use 3.84 risk tools on average• More likely come from centre-led (44%) or centralised (32%) teams• Come from larger teams (20+) and deal with larger numbers of suppliers (>2,500)• More likely to have completed risk management training (32% said yes)

Low maturity organisations (n=27):

• Are more likely to be from the public sector (63%)• Employ fewer risk tools on average (2.81)• More likely centre-led (41%) or decentralised (37%) procurement teams• Mid-range in terms of number of suppliers dealt with and split between large and small teams• 22% have had risk management training

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The survey methodologyThe 40-question Procurement Risk survey was developed by Grant Thornton New Zealand in collaboration with the Chartered Institute of Purchasing and Supply Australasia (CIPSA). The purpose of the survey was to benchmark the level of awareness and action related to the assessment, mitigation, and management of procurement risks in New Zealand. The survey was set up using the online survey tool Survey Monkey and was distributed to New Zealand-based CIPSA members and a selected group of Grant Thornton contacts.

About the survey participantsThe survey was sent to 800 individuals and 200 responded to the email by starting the survey. Of these, 126 completed the survey with an additional 42 answering up to question 27. The combination of these two groups gave us a sample set of 168 responses which represented the views of 116 organisations.

5. Is the organisation you work for a (Organisations n=116)

6. Is the organisation you work for international or global (Organisations n=116)

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The roles of the people responding to the survey varied from organisation to organisation; however given the likely job profile of CIPSA members, it was not surprising to find that 76% of respondents are in procurement-based roles.

1. Please indicate your function or role within your organisation (Individuals n=168)

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Notes

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About Grant ThorntonGrant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, actionable advice through a broad range of services. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to solve complex issues for privately owned, publicly listed and public sector clients. Over 31,000 Grant Thornton people, across 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.

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