ITEOMI

Mike and his teams have successfully implemented The ITEOMI procurement value creation framework many times for more than two decades, typically driving sustainable double-digit percentage cost reductions for organisations amongst its delivered outcomes.

I = Issues

The process starts with a request for a light touch opportunity assessment Zoom call with Mike Jones who will then send an NDA for signature. On the call, Mike will ask for a brief overview of the your business, and of the business or procurement issues being faced.
At the end of the initial conversation, it is generally possible to provide an indicative projection of likely outcomes achievable by engaging Mike Jones Procurement.

Once under contract with each other, key stakeholder interviews and a deep dive into and analysis of procurement spend and other data take place to ensure that Mike Jones Procurement properly understands your business, your Corporate objectives, your challenges, and your key stakeholder needs and wants, before then formulating, socialising and, submitting the transformational change proposal for approval, and subsequent implementation planning and delivery.

Issues currently preventing transformational results from procurement are identified, and solutions to them are found.

T = Targets

Transformation targets are discussed on the light touch opportunity assessment Zoom call, and are reconfirmed during the deep dive process. Service Level Agreements (SLAs), and Key Performance Indicators (KPIs) are agreed and used in reporting and overall governance of the transformation project.

E = Enablers

AI-enabled Category Management is the overarching strategic tool for transformational procurement and new value creation, supported appropriately by other digital procurement tools as required and/or available.
Comprehensive application of the entire suite of Category Management enablers creates the data for strategic analysis and informed data driven decision making that creates the leverage required for power in negotiations and extraordinary value creation.

O = Outcomes

1^st Light touch opportunity assessment, 2^nd Contract to work together, 3^rd Deep dive opportunity assessment, 4^th Propose and agree a mandate for transformational change, 5^th Plan for implementation, 6^th Commence implementation, 7^th Transformation results start coming in and continue forward, 8^th Check strategy at least once a year and refresh as required ready for the next phase of delivery.

M = Mature Outcomes

There are many procurement value levers to be deployed, including 20 that drive cost reductions alone. Some projects take longer to prepare and implement, and others follow as lesser priorities. Year 1 results are exciting, but years 2 and onwards typically boost ROI significantly further. Full transformations typically take 3 to 5 years to achieve and embed.

I = Improve Continuously

Product or service life cycles vary from product to product and service to service. Rapid changes in technology and other forms of innovation cause these life cycles to change, and with that, new opportunities and threats to be addressed arise all the time. Value creation work is never done in a global market, there are always opportunities to improve continuously and to create new value from strategic procurement.