Success story – Standard Chartered Bank
Background
ADR worked with Standard Chartered Bank throughout the Asia Pacific
region on a three-year assignment.
Previously, the bank had given little consideration to either its local
purchasing or to capturing regional or global synergies. Indeed, there was
no formal process for effective purchasing.
Product
Sourcing
Sector
Financial
Country
United Kingdom
Aims:
The aim of the initiative was to create a sharper focus on contractual
management, supplier management and drive down cost.
●Results:
Project:
A board level steering committee provided the overall direction of the
programme, whilst being fully supported by ADR.
ADR consultants worked closely alongside SCB’s purchasers of major
expenditures on a worldwide basis. In addition, through a series of skill
development events and on-site coaching, ADR ensured that the
competencies of SCB’s purchasing staff were strengthened and that all
procurement staff were capable of the necessary practices to fulfill the
initiative.
The assignment led to a much stronger focus on SCB’s
cost management and strategic sourcing, particularly in
information technology, professional services and
facilities management.
On the expenditure tackled, savings exceeded 5%.
Existing practices were greatly enhanced and much
success was achieved through adopting new cost
improvement techniques. Most importantly, ADR
ensured SCB - through a transfer of its skills - a
committed team of in-house staff developed in a way
that enabled them to take forward ADR’s work.