Over 170 procurement and supply chain professionals showed their interest and/or participated in this knowledge webinar we organized with our keynotes Dr. Dean Kashiwagi and Pascal Evertz.
Dr. Dean Kashiwagi is founding father of this popular Best Value Approach (BVA) and as a professor at the Arizona State University he performed over 20 years of research into the method and how to improve procurement and project success, while Pascal Evertz is already working for quite some time within Procurement and is seen also as Procurement expert. As A+ Best Value certified trainer and expert he guided already many private and public organizations on this subject in The Netherlands.
The reason why THOP launched this webinar was that we noticed over the last year more and more companies are looking gradually for procurement professionals that are Best Value Approach (BVA)-certified which made us curious to understand more about this trend. I found out that this popular BVA has been increasingly implemented in the world over the last years, but not yet that far in Belgium.
Today, within our service pillar Solutions, we have a thorough understanding and tons of experiences and projects done based upon the classical 7 steps Strategic Sourcing approach which is a method that was developed a long time ago by AT Kearney and is used by many consultancy organizations. And of course, most probably you have used this approach in the past as well.
To better understand what the concept can bring for the Belgian market, we organized a few weeks ago with about 10 procurement and supply chain consultants a pré-webinar on this subject and their feedback after that webinar was FAN-TAS-TIC. I received many positive reactions ànd the question of how to proceed to learn more about it.
These senior consultants confirmed this methodology gave them new insights into which the supplier should be seen as the expert. They stated it is groundbreaking for many companies and that it goes against the current vision of their detailed complex procurement processes, in which crucial matters are sometimes forgotten.
Best Value Approach is an emerging alternative
The ‘Best Value Approach’ is in the current landscape, a matter of shifting from price to Total Cost of Ownership to eventually focus on value as a central concept. BVA is a vendor-centric model that puts the expert vendor at the center and focusses on identifying and utilizing expertise. By doing so maximizing value and lowering costs up to 30%.
Best value procurement (BVP) is a purchasing methodology that revolves around purchasing expertise and is also known as performance purchasing. It is also a method to improve efficiency in procurement, risk- and project or contract management. The new method contrasts sharply with the traditional way of procurement, project management and contracting, which is characterized by control.
In fact, at Best Value procurement, a supplier is given much more freedom, with the underlying idea that the real experts can distinguish themselves from the mediocre in this way and that you will ultimately receive the best quality at the lowest price. Because the emphasis is on quality in the assessment of the supplier, price fighters are deterred, and a healthy market is created that enables suppliers to develop themselves and build long-term relationships with their clients.
From Best Value Procurement (BVP) to the Best Value Approach (BVA), … and hybrid forms
It is not without reason that Best Value Procurement has become increasingly popular in the recent years. At the same time, there are still many misconceptions about it, and we see more and more hybrid forms that have little to do with the original method. These deviations in the BVA increase complexity, risks & confusion
For those who handle it well, the Best Value Approach also offers major advantages in the implementation phase, such as better cooperation, fewer risks, lower costs and higher customer satisfaction.
Clear approach and expertise
We regularly see that purchasing processes have remained the same for years, despite the advantages of the Best Value Approach. Rethinking the purchasing process can be a valuable decision in these cases. To ensure that you are working with the right supplier, THOP is your procurement partner that can support you in the Best Value process. We have A + certified Best Value experts who has a thorough understanding and tons of experiences and BVA-projects done.
More information about BVA
The feedback that’s coming in since the webinar finished has been incredible and as participants are asking to review the webinar recording, I am pleased to share it also with you. Just send me an e-mail if you want to watch the webinar recording too.
Click here to contact me if you want to receive more information about the training options and/or the implementation services of the Best Value Approach that THOP can provide.
Further updates will also be shared on our LinkedIn company page where over 1200 colleagues are already present.
Thank you very much and we will see each other again during one of our next webinars or hopefully our next webinar where we can meet again IRL.
All the best!!
Ronald Jordens, Managing Partner