Rio Tinto: A procurement transformation success story
Companies must redefine the procurement function to maximize Return on Investment (ROI) and drive greater value from spend. They need to shift focus from supply assurance and reduction of the Total Cost of Ownership (TCO) to strategic initiatives.
Rio Tinto, a global leader in mining and exploration, partnered with Infosys BPM to achieve higher levels of efficiency and effectiveness in sourcing and procurement.
In a webinar hosted by The Hackett Group, Peter McNamara, General Manager – Project Procurement and Development at Rio Tinto Procurement, discussed the transformation through outsourcing, the challenges faced, and the lessons learned.
The engagement with Infosys BPM, which evolved from transactional work to value-based activities, helped Rio Tinto Procurement:
- Optimize non-recurring business-critical spend
- Gain insights through end-to-end category management and agile Business Intelligence (BI) reporting
- Standardize procurement metrics
- Harmonize processes and deliver consistent quality across regions
- Identify areas of improvement and extension of outsourcing service
Published with the permission of The Hackett Group