Blue Ocean Academy: BLUE OCEAN's FIRST INTERNATIONAL CONFERENCE IN QATAR (Curtain Raiser)

PRESS RELEASE

February 6, 2014

BLUE OCEAN TO HOLD FIRST INTERNATIONAL CONFERENCE IN QATAR

FOCUS ON “EVOLUTION IN PROCUREMENT: CHALLENGES AHEAD”

Dubai : Blue Ocean, the region’s premier knowledge empowerment enterprise is set to blaze a new trail of success with its first international conference on “Purchasing & International Procurement 2014" focusing on the relevant theme of “Evolution in Procurement : Challenges Ahead”

The conference will get together eminent professionals from the world of purchase, international procurement and supply chain in the Middle East who will chronicle the changes taking place in the procurement industry and brainstorm on the challenges ahead.

Slated to held on Saturday, February 8 at the Sheraton Doha Resort & Convention Centre, Qatar, the conference will feature among others Samer Abdul Raheem, Vice President, Procurement, Qatar Airways Group who will talk on “Procurement Transformation: Between Successes & Challenges”;

“Procurement has come out of obscurity and into mainstream business. As a function, it has evolved through a series of challenges, growing from a minor function within finance or operations, to become one of the most important components of modern corporate management,” said John Ellis, Chief Operating Officer of Blue Ocean Academy who will deliver the welcome address at the conference.

“Procurement competence has also taken a more strategic approach because the way we do business has changed. There has been a natural strategic business evolution from purchasing to sourcing to strategic procurement to supply management in the last 10 - 15 years,” said Dr. Sathya Menon, Academic Director, Blue Ocean Academy who will speak on the topic : “Risks in Global Supply Chain.”

Two enormous changes have revolutionized the face of procurement.

“First procurement has become deeply intertwined with business strategy. Rather than simply functioning as a standalone business unit, procurement managers and directors are now coordinating their purchases with senior executives to ensure that the company strategy is implemented across the board,” explained Dr. Farrukh Kidwai, Chief Executive Officer, Operational Excellence.

“The second change in procurement that has entirely changed its character is the rise of e-Procurement. Whereas before procurement professionals worked over the telephone, compiling information as they went, they are now able to document information online, gaining access to far more information that allows them to make more effective decisions both at the level of cost and at the level of strategy,” he added.

Many companies have moved beyond the most basic stages of procurement maturity, often adopting strategic sourcing, category management, Supplier Relation Management tools to add value to the chain.

Global Sourcing : Risks

There are four generic strategies for managing global sourcing risk: network re-engineering, collaboration, agility and a risk management culture.

All procurement professionals need to understand and guard against these risks by putting together an effective plan in place.

Studies show that while most procurement managers are aware of the risks their companies are exposed to, they are unable to implement risk management strategies, in most cases these strategies are either not implemented at all or in an ad-hoc basis.

“This conference will prove to be an eye-opener about risks that are faced in global sourcing,” explained Dr. Sathya Menon.

The Changing Face of Procurement Professionals

Marketplaces worldwide are witnessing an unprecedented pace of change. As a result, businesses are rapidly re-evaluating their operating models and market strategies not just to withstand these market forces, but also to capitalize on them.

Procurement professionals have a significant role to play in helping organizations achieve their objectives and prepare for the uncertainty ahead.

Highly mature procurement departments have stepped-up their game, fundamentally changing the way they work with the business and – as a result – are increasingly taking a leadership role in helping drive growth and reduce costs across the organizations.

For the Procurement function to achieve a place at the table, more work should be done to align to key stakeholders and understand the business operations.

This means moving up the value chain to ensure that the function is involved much earlier in the decision-making processes and clearly demonstrating how active involvement adds tangible value to both the bottom and the top lines.

The procurement process needs to be reoriented to include other value-added services to the business. This requires a culture-shift, taking procurement away from the tactical, category-focused culture that seems to dominate most functions, to one that is fully aligned with the organizational goals and active in the strategic decision-making processes of the business.

“No doubt, Chief Purchase Officers (CPOs) and Supply Chain Directors will increasingly find themselves reassessing their operating models to squeeze greater value from their activities around the world,” said Mr. Abdul Azeez, Regional Marketing Director, Blue Ocean Academy.

About Blue Ocean

Armed with its innovative consulting and training solutions, custom -designed to provide a makeover to major companies as well as small and medium enterprises, Blue Ocean has set a new benchmark in building capabilities, translating directly into organizational profits.

Headquartered in Dubai with a strong presence in the Kingdom of Saudi Arabia, Qatar, India, Africa and Sri Lanka, Blue Ocean stands on an enviable reputation built on 16 years of training, 50,000 alumni worldwide and a global network of certified trainers, prestigious international certifications and multinational partners.

The Blue Ocean has always specialized in designing courses that bridge the gap between infrastructure and knowledge, imparting futuristic skills to a new genre of leaders. Its training solutions are known to be accurate, creative and focused. Employee skills are honed through a series of innovative training sessions in a simulated work environment.

Blue Ocean Academy’s brand new solutions are particularly relevant in today’s resurgent Middle East economy, where investing in employee -learning programs showcases a company’s commitment in creating a sustainable business culture.

This, in turn, increases profitability, builds loyalty and employees are committed to the success of the organization as a whole. Evidently organizations with a futuristic vision are committed to make training a part of the organizational culture and Blue Ocean is set to help organizations fulfill this very important role. Continuous training translates into highly engaged employees; employees going that extra mile to meet organizational goals ; improved teamwork; increased ability to be competitive and loyal employees.