Prior to finalising the commodity strategy and submitting it for approval, the Procurement Officer should ensure an executive summary is included. The purpose of the executive summary is to highlight the key points of your strategy including details of any decisions taken and the justification.
The example commodity strategy includes an executive summary for your reference.
Commodity strategy review
Commodity profiling and strategy development should not be an isolated or 'one-off' occurrence. A subset of the UIG needs to be assigned to carry out the ongoing activities of supplier relationship management, monitoring, implementation, compliance and benefits tracking, and a periodic review of the chosen strategic option to validate its applicability for the current/changing environment should also be considered (both internal to the procuring organisation and external to market supply).
There are a number of issues that may trigger a commodity strategy review, these include:
