Motasim M. Albakkar

Successful procurement hinges on more than just transactions; it requires: 1. visionary leadership 2. empowered people who understand that value goes beyond cost 3. embracing collaboration 4.integrity 5. strategic thinking

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Discover the art of strategic procurement: From sourcing to saving, every method counts. Unlock efficiency, drive value, and shape the success of your establishments through effective and efficient procurement methods. #procurement #supply #logistics

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Very useful to understand Introduction of AI in Procurement..

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If you are a purchaser, it is very important to know the difference between TLC & TCO

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Discussions on the DNA of procurement.#smartprocurement 2024

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How Saudi's are leading the world in the field of AI The Saudi Arabian Gov has been making great strides to place itself at the forefront of the world leaderboard in artificial intelligence. With a crystallized vision and strategic initiatives in place, the Kingdom is rapidly developing its capabilities and making its mark as a focal point for AI innovation. How Saudi Arabia is leading the way in this transformative technology is discussed here. - National AI Strategy In 2020, Saudi Arabia introduced the National Strategy for Data & AI, aspiring to position the Kingdom among the world's leading data-driven economies by the year 2030. This strategy is approved by King Salman bin Abdulaziz Al Saud in order to establish a blueprint for unlocking the value of data and AI toward the realization of the aspirations of Vision 2030. - Establishment of SDAIA The SDAIA was established in 2019 to drive the national agenda with respect to data and AI. SDAIA is to organize, develop, and handle data and AI in the Kingdom; it shall take the lead in research and innovation therein.  - Ambitious Goals and Investments It eyes to be among the top 10 in data and AI by the year 2030. To realize this dream, the Kingdom is setting aside $6.4 billion to invest in future technologies, among them AI. It has committed itself to training 20,000 data and AI specialists, building 300 active startups, and attracting foreign and local investments exceeding $20 billion. - Initiatives and Partnerships In this regard, SDAIA cooperates with different government parties and private sector entities to initiate projects that activate the National Strategy for Data & AI. Among these meaningful initiatives is the "SAMAI" program that was launched in 2024 to train one million Saudi citizens in data and AI technologies. - Global AI Summit Hosting The Kingdom of Saudi Arabia interacts with the global AI community by hosting various events, such as the Global AI Summit, under the patronage of Crown Prince Mohammed bin Salman. The summit brought together policymakers, investors, and innovators in order to tap into the powers of AI and create one big concept for its future. Hence, by pooling the resources, partnerships, and strategic vision together, it places Saudi Arabia in a leading position in the world with regard to artificial intelligence, in addition to further nurturing innovation and collaboration within this transformational field. #السعودية #سدايا #sdaia #sami #pif #Saudia #Matarat #riyadh #الذكاء_الاصطناعي #مؤسسة_مسك #stc #ai #Saudi_arabia #الهيئة_السعودية_للسياحة #الذكاء_الاصطناعي_للسياحة #pif #السعودية #IoT #الهيئة_العامة_للعقار #شركة_عقارية #الذكاء_الاصطناعي #RiyadhHotels #KSA #RiyadhHospitality #HospitalityIndustry #مطارات_الرياض #هيئة_الترفيه

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Kraljic Matrix is one of most important tools for Procurement professionals. It is a strategic tool used to identify and minimise supply risks. Using this tool to classify the importance of suppliers’ products and services can highlight supply chain weaknesses, support strategy development, and minimise supply disruption. Determining the type of relationship by positioning suppliers by risk and profit impact will support procurement team to build the right type of supplier relationships, and utilise their time more efficiently, whilst mitigating supply risk for their organisation. When using the Kraljic Matrix tool, risk impact and cost impact are defined as: * Risk Impact: The degree of difficulty associated with sourcing a product or service and the vulnerability this will have on the organisation. * Cost Impact: This is used to determine the extent of the supply to contribute to profitability. The profit potential might be realised by achieving lower costs, either by paying a lower price for goods or services or by introducing more efficient buying methods. What are the four key quadrants in the Kraljic Matrix? * Critical: Critical products or 'strategic' products are a high-risk category due to the high dependence on a few suppliers, but they do also have high profit impact. Products in this category include assemblies, engines and optics and are subject to the balance of power in purchaser-supplier relationship. The best strategy for this group of products is balancing power between purchases and suppliers based on performance-based partnerships * Leverage: This category is a buyer-dominated segment with competitive bidding, whereby risk is low. This is because of the many alternative suppliers and substitutions, such as steel plate and sections. Leverage products allows the buying company to exploit its full purchasing power, for instance through tendering, target pricing and product substitution. * Bottleneck: Bottleneck products are limited-in-value products prone to risk from sudden price rises and from a limited number of alternative suppliers (e.g., natural flavours, vitamins, pigments). Therefore, securing long- and short-term supply and seeking alternative suppliers is a priority for this group. * Routine: Routine products or 'non-critical' products are suited to systems contracting and e-procurement solutions. These products need efficient processing, product standardisation, order volume and inventory. Non-critical products are a low-risk category because of their large variety and many alternative suppliers. Basic office supplies, maintenance, repair, operations items (MRO) and consumables are examples of products in this category. Following the classification of risk impact and cost impact to your business that each supplier potentially holds, you can then identify the type of relationship that you should consider building with the supplier and how to mitigate supply risk within your organisation.

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🔟 Tips for Boosting your Procurement Performance ⬇️

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Glad to have contributed to the digital transformation of a government entity in line with the vision of Oman 2040 as a core consulting team member. #digitaltransformation #zstrategi #bpr #omanvision2040

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What is procurement governance? procurement governance is the process and framework for governing the acquisition of goods, services and intellectual property by organizations. It ensures that all procurements are conducted in a fair, legal and transparent manner, reflects the organization’s overall strategy and meets specific business needs. The main goals of procurement governance are to: 1- Ensure compliance with relevant laws and regulations. 2- Protect the organization’s resources from misused or irregular contracts. 3- Avoid conflicts of interest within the organization. 4- Helps ensure that contracts are awarded in an objective, competitive and ethical manner, 5- Efficiently manage contract costs and timelines. What are the benefits of procurement governance? One of the most important benefits of effective procurement governance is ensuring that contracts are awarded in a fair and transparent manner. This protects both the government agency awarding the contract and the company bidding on it—both of whom could be impacted by corrupt or fraudulent behavior. It also helps to ensure that contracts are awarded based on merit rather than favoritism or political influence. Another benefit of effective procurement governance is preventing costly conflicts of interest. When contractors have close ties to government officials, they may be more likely to lobby for favors or pressure the government into making decisions that are in their own best interests rather than those of the taxpayer. By implementing proper procurement procedures, agencies can avoid these conflicts and ensure that taxpayer dollars are being spent efficiently and effectively. Why is procurement governance important? Achieving effective procurement is critical for a number of reasons. First and foremost, proper procurement can save businesses money. By avoiding unnecessary costs and connecting with the right suppliers, organizations can reduce their overall expenses. Second, procurement can help organizations improve their productivity and efficiency. By streamlining the procurement process and ensuring quality products are delivered on time, organizations can improve their workflows and save time overall. Finally, good procurement practices can protect companies from fraudulent activities or misconduct by suppliers. There are a number of key elements that make up a robust procurement governance system: an efficient identification and acquisition process; well-defined contractual terms; robust monitoring capabilities; clear standards for supplier performance; strong enforcement mechanisms; and effective communication channels between buyers and suppliers. #ProcurementProfessionals #ProcurementAwareness #CorporateGovernance #SupplyChainOptimization

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Procurement field is : The process by which organizations acquire goods, services, or works from external sources. This process involves identifying needs, sourcing suppliers, negotiating contracts, purchasing, and managing relationships with suppliers to ensure that the right products or services are delivered at the right time, cost, and quality. Procurement plays a critical role in ensuring that organizations operate efficiently and effectively, as it directly impacts cost management, supply chain continuity, and overall operational success. It is a function found across various sectors, including government, private industry, and non-profit organizations.

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Hi everyone ... Frequently, have more explanations about the role of Procurement within business and where it starts and stops.  Questions like... 1- Procurement is simply buying, right?  2- Do I only come to you if I want to raise a PO? 3- Less price with Good Quality?  are common. While I've seen numerous resources attempting to explain the profession, I've found that the image of the "procurement professional iceberg" most effectively illustrates the visible and hidden aspects of a procurement professional's role. They highlight the range of interchangeable skills and tasks that need to be acquired to support businesses & should procurement representative show this in details in each process of purchase. While I'm not suggesting that all of these tasks and skills are applied simultaneously, I hope this raises the profile on the value Procurement can bring and how it's more than just "sourcing and negotiation". Would you suggest for any anything more from this list?

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The Importance of Five Rights of Procurement: Procurement incapabilities and aspects cost the organization a huge price either in the form of delayed purchases or any transaction dispute. Attempting to accelerate the procurement process with outdated tools becomes an issue within the organization’s bottom-line. Here the primary task of the procurement process is to give the right inputs for the organization’s process. The five rights of procurement include: Right Quantity Right Quality Right Place Right Time Right Price The procurement Rs can be also termed as key performance variables or procurement factors. The importance of achieving the 5 Rs are as follows: Right Quantity: The term right quantity refers to procuring a sufficient amount of products to meet the demand and lessen the excess stock by forecasting demand, inventory management, etc. Insufficient quantity can lead to stock-outs, will lose credibility in sales as well as goodwill, etc. Right Quality: Poor quality of product will only lead to incurring higher costs, loss of goodwill, and damaged reputation. Right product quality has aspects like reliability, quality conformance, safety, etc. It should be suited to the needs of internal as well as external stakeholders. Right Place: Right place refers to the place of delivery point. The arrival of products in a safe and secure way can be done by distribution planning, packaging, transportation, etc. Unhandled goods or goods delivered at the wrong place will cause unnecessary damage to goods and also add up in the transportation cost. Right Price: Right pricing is minimizing the procurement cost in order to maximize the profit. This can be done by continual price discovery, supplier price analysis, competitive pricing and, future negotiations. Without achieving the right pricing, profits will decline while the material and supply costs will rise. Right Time: Securing the delivery of goods at the delivery point at the stipulated timeline can be done by demand and supplier management. Therefore, it is must that requester provides procurement team with accurate data of the 5 Rs for the smooth flow of the procurement process within the organization and any missing data, will lead to loses in money, time, efforts and delay. #SupplyChainOptimization #Procurementleaders #Procurementprofessionals #Procurementexcellence #SupplyChainManagement

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Short read ➡️ 12 essential stages that ensure every agreement is well-executed and optimized. Mastering these stages helps mitigate risks and maximize value in every deal 📈 #ContractManagement #BusinessOptimization #RiskManagement #cips

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Unlock efficiency and transparency in your procurement process with meticulously crafted procurement plans and schedules, ensuring money is spent wisely and every need is met seamlessly. Procurement plans and procurement schedules are tools to track the procurement activities and ensure spending efficiently for a planned period, it’s a careful consolidation of demand and plan to procure, supply the required goods, services and works. During my career I prepared several procurement plans and schedules, I saw the success and failure of them. A successful plan focusses on 4Ws. 👉 What- Identification of Goods, Services, Works and Non consulting services (Demands). 👉 When- The estimated costs, method and timelines.    👉 Why- Is the demand aligned with the objectives of the program? Is it really required? 👉 Where-Consolidation of demand at HQ, Implementation at various levels. Procurement plan should be a live document, however it should be updated only with the due justifications. It’s a good practice to update/revise Procurement Plan on regular intervals. If monitored properly, Procurement Plans can inform you of the progress of the project. Procurement Plans’ monitoring is more critical for Program Managers than the Procurement Manager. By implementing robust procurement plans and schedules, organizations can ensure efficient spending, timely delivery of goods and services, and overall project success. Embrace these tools to streamline your procurement process and achieve your strategic goals #publicprocurement #Procurementplan #Procurementschedule All views in my personal capacity.

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Is inflation disrupting your procurement plans? While inflation presents challenges, it can also be a catalyst for transformation in procurement. 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝘃𝗮𝗹𝘂𝗲: Scrutinize every purchase for long-term benefits. Look beyond the immediate cost and consider the total cost of ownership, including maintenance and operational efficiencies. 𝗦𝘁𝗿𝗲𝗮𝗺𝗹𝗶𝗻𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀: Find ways to reduce administrative burdens and expedite purchases. Implementing automated procurement systems can save time and reduce human error, allowing your team to focus on strategic tasks. 𝗘𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻: Collaborate across departments for consolidation and explore sustainable procurement practices. Innovative thinking can lead to the discovery of cost-saving alternatives and sustainable solutions that not only reduce costs but also support environmental goals. Use this challenge to adopt a more strategic and innovative approach to procurement. Embrace the opportunity to re-evaluate and improve your processes, ensuring they are resilient and adaptable to economic changes. Engage your stakeholders in these initiatives to foster a culture of continuous improvement and innovation within your organization.

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What constitutes a successful procurement 1: Match procurement efforts with company objectives 2: A balance of people, technology, compliance, ethics, and sustainability is required. 3: A successful procurement strategy should be receptive to novel concepts and supportive of suggestions. 4: Assessing your present procurement procedures 5. Outlining your aims and goals for procurement 6: Developing your approach to procurement 7: A detailed manual 8: Effectively establishing and maintaining connections with suppliers 9: Handling risks and adhering to regulations in procurement 10: Modifying your approach: The way forward for ongoing development

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