LONDON - Efficio, the procurement experts, have been shortlisted for two CIPS Supply Management Awards, firstly in the Best Procurement Consultancy Project of the Year category for their work with Thames Water and also in the Best Supplier Relationship Management category for Network Rail.
Managed Services with Thames Water
Efficio’s work with Thames Water began in 2011 when they were chosen to implement their managed services model taking responsibility for all category management including business planning, strategic sourcing, supplier relationship management (SRM) and stakeholder engagement. Over the last four years Efficio has delivered substantial cost savings, well above the contractual target which was already 20% above the original TW business plan, with further savings due in 2015-16. This has mitigated the original risk identified by Thames Water management and delivered an ROI in excess of 6:1, comparing incremental costs to benefits signed-off.
'Game changing' procurement strategy with Network Rail
Efficio is also shortlisted for its work with Network Rail to develop a ‘game-changing’ procurement strategy, in order to deliver the significant efficiency targets stipulated by the regulator. Efficio supported Network Rail in developing and implementing a new strategy which put collaboration and supplier relationship management within the supply chain at its very heart, with a tender process that ensured bidders were engaged up front and evaluated on collaborative values. Efficio also supported Network Rail in shaping and implementing a ten party supply chain hub, underpinned by new technologies including a demand planning tool to enable accurate forecasting of demand for key goods and services across the supply chain, and a cloud-based system which provided both Network Rail and the construction contractors with a defined method for effective cost management.
Being shortlisted in two separate categories for the prestigious CIPS awards reflects both the breadth of work Efficio carries out for our clients, and highlights the strength of the solutions we implement. We look forward to the awards ceremony in September when the finalists will be announced.