The Nordic Capital Approach – Procurement Excellence framework
NCPO developed a procurement excellence framework for portfolio companies to assess the current state, set future ambitions and measure ongoing performance. The framework focuses on eight dimensions covering all aspects of the operating model, as well as the key enablers required for an effective operation:
- Procurement strategy
- Spend mapping and supplier segmentation
- Procurement value proposition and executive sponsorship
- Key procurement levers to optimise performance
- Leveraging NC scale and NCPO agreements
- Procurement processes, digitalisation and technology
- Performance reporting to drive the procurement agenda
- Procurement organisation, leadership competencies and capabilities
No two Nordic Capital portfolio companies are the same; hence, the framework allows senior management to set the targets relative to their current maturity and create plan of action. NCPO works alongside the portfolio companies supporting the process throughout the ownership period.