8 Best Procurement Consulting Firms of 2022
For this article, we are going to talk about the 8 best procurement consulting firms of this year. We’re going to check what the company is, and why they’re considered the best, and we’re going to include links so you can check them out.
If you want to work for them yourself or you would like them to help your company achieve the desired goals, once you’re done reading this article, you know everything you need to know.
What is a Procurement Consultant?
Before we share the best procurement consulting firms, we will first give a brief overview of what they do. A procurement consultant is a professional who has extensive experience in purchasing or procurement.
Usually, procurement consultants have four areas of focus which are business process review, strategic procurement advice, procurement system installation, and procurement training.
Procurement consultants can be freelancers or work for large consulting firms. Commonly, procurement consultants are industry specific. They rarely work outside their sector of expertise.
What Can a Procurement Consultant or Firm Offer?
Many people think that employing a procurement consultant is just an additional cost for a business. However, it is far from the truth. Hiring a talented and skilled procurement consultant is vital to achieving business success.
When the procurement strategy is aligned with the organization’s goals and objectives, it can expect to gain these benefits:
- Stay at a stable target liquidity level
- Win market share
- Adjust and adapt to meet new customers’ demands.
- Reduction of external supplier spend
- Continues to be profitable
- Enhance supplier relationships
- Streamline your supply chain
- Operational improvements
Why Determine the Best Procurement Consulting Firms?
One of the questions in your mind right now must probably be why you need to find out who are the best procurement consulting firms. You are thinking ‘I can just simply apply for any procurement company. Why do I need to look for the best ones?’ The answer to these questions is rather simple; you owe it to yourself to work for the best procurement companies because it is the only way that you’ll get the experience needed to become a good procurement manager or director.
Yes, our Negotiation Gamechanger course certainly has all the means to provide you with the best skills and training to become a force to reckon with in the procurement career, but you’ll also need experience. You need to have the experience and the mental fortitude to be able to handle a procurement team on your own. Only in the best procurement consulting firms will you be able to step up your game, so to save time and effort, apply for one of the best procurement firms and make your mark there!
Hi there! My name is Marijn Overvest, I'm the founder of Procurement Tactics.
Want to take your negotiation results to the next level?
The 8 Best Procurement Consulting Firms
1. Bain & Company
Linkedin: (39) Bain & Company: Overview | LinkedIn
Stated as a company that is into ‘global consultancy that helps the world’s most ambitious change-makers define the future, Bain & Company was founded with the sole purpose of helping their clients in achieving their goals. Founded in 1973 and with a company size of 10,000+ employees, Bain & Company is certainly included in one of the best procurement firms.
It’s a company that earned a gold rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, thus you know that this company is at the top 2% among procurement consulting firms.
How can this company help procurement managers: With years of experience in procurement processes, Bain & Company work alongside their clients as one team with a shared ambition in achieving extraordinary results. According to their social media profile, the results include outperforming the competition and redefining industries.
2. GEP Worldwide
Founded in 1999, GEP Worldwide is considered one of the best procurement consulting firms in the world. A leader in multiple Gartner Magic Quadrants, GEP’s cloud-native software and digital business platforms are always winning awards and recognition from research firms, media outlets, and industry analysts. GEP is also regularly ranked a top supply chain consulting and strategy firm and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG, and HfS, among others.
How can this company help procurement managers: GEP boasts about having smart, passionate people running the company. They are able to help their clients with their fresh thinking, innovative products, and unrivaled domain expertise. Their products deliver supply chain resolutions of unprecedented scale, power, and effectiveness. They also have an impressive record of clients, including Fortune 500 and Global 2000 companies from all over the world.
3. Oliver Wyman
Linkedin: (39) Oliver Wyman: Overview | LinkedIn
Another company that is considered a world leader in management consulting, Oliver Wyman was founded in 1984 with the goal of helping every business leader in improving their operations and risk profile. The company now has offices in 60 cities and operates across 29 countries. A subsidiary of March McLennan, another company that is also a leader in supply chain and procurement, the company works together in offering world-class professional services in procurement strategy and risk.
How can this company help procurement managers: With offices in 60 cities and 29 countries, Oliver Wyman brings its expertise to procurement managers who are in great need of assistance with their procurement processes. The firm has over 5000 professionals from all over the world who are more than ready to assist their clients.
Linkedin: (39) PwC: Overview | LinkedIn
While it is more of an accounting firm, PwC has its own share of assisting businesses and people in terms of tax services, tax advisory, and quality assurance. While not entirely a procurement firm, the services they provide are a big help for offices that are in need of a consulting firm for their spending and purchasing needs.
How can this company help procurement managers: PwC has over 284,000 employees who are more than happy to help procurement managers in dealing with procurement and sourcing processes. The company has more experience in handling accounting, tax, and any other professional services.
5. VIE Healthcare Consulting
According to their Linkedin page, VIE Healthcare Consulting is “the only consulting service provider with a proven capability through our in-house expertise and internal resources to analyze all of your non-labor costs to dramatically improve your operating margins and economics of your organization.”
Proof of this is the numerous healthcare organizations that trust VIE Healthcare Consulting with assisting them with their procurement needs.
How can this company help procurement managers: VIE Healthcare Consulting is more directed towards healthcare companies that need assistance with procurement and/or sourcing issues. If a procurement manager’s company is more into the healthcare service, then this consultancy firm is a good choice.
6. Boston Consulting Group
Another world leader in the procurement and supply-chain services, BCG or Boston Consulting Group is working closely with clients to embrace a transformational approach at benefitting all their stakeholders. Founded in 1963, the company partners with business and society leaders in tackling the most important challenges for their business. BCG is proud of delivering solutions through leading-edge management consulting, technology, and design with the help of its diverse global teams.
How can this company help procurement managers: Boston Consulting Group has been assisting several clients since 1963. Until now, the company is working closely with clients through leading-edge management consulting, technology and design, and corporate and digital ventures.
Linkedin: (39) Deloitte: Overview | LinkedIn
Who hasn’t heard of Deloitte?
If you’re into management consulting, then you’ve probably heard of this company. One of the many branches of Deloitte Touche Tohmatsu Limited, Deloitte has over 10,000 employees all over the world and is largely involved in managing companies over important aspects of their business. And this largely involves procurement and the supply-chain process.
The company also offers consulting, audit, financial advisory, tax services, and risk management.
How can this company help procurement managers: Deloitte is more of an accountancy consultancy service. While their services do not focus mainly on procurement and sourcing, their accounting and financial advisory services are much sought by procurement managers during a procurement process.
8. McKinsey & Company
Linked Profile: (39) McKinsey & Company: Overview | LinkedIn
Mckinsey & Company is a global management consulting firm. And just like all leading management consulting firms, the company works with leading organizations across the public, private, and social sectors. Their scale, scope, and knowledge allow the company to address issues that no other company can. With over 10,000 + employees and a mission to build capabilities and leadership skills at every level, it’s no wonder that Mckinsey & Company is included in one of the best procurement consulting firms.
How can this company help procurement managers: A global management consultancy firm, McKinsey & Company has helped procurement managers from all over the world for years now. Procurement managers can expect internal support and practical recommendations from this consultancy firm. McKinsey & Company has helped lead organizations across private, public, and social sectors.
What is procurement consulting?
Procurement consulting means developing sourcing strategies for companies.
How to do procurement consulting?
You need to be an experienced procurement manager to do procurement consulting. You also need to work with a reputable procurement consulting firm to do so.
How can I become a procurement consultant?
To become a procurement consultant, you need to start as a procurement specialist. Once you accumulate enough skills and experience, you can work as a procurement consultant.
Get the skills needed to become the best procurement consultant!
Our Negotiation Gamechanger course has everything you’ll need to become an expert procurement consultant. But be quick about it, as our offer is for a limited time only!
Visit www.procurementtactics.com for more information.
"Very useful course, many actionable strategies"
Want to close better deals? Prepare faster and achieve deal results you have been dreaming of? This course is a perfect fit for ambitious procurement & sourcing professionals. Enroll now and equip yourself with the full range of skills needed to master the deal.