CIMB claims victory in CIPS SM Asia Awards

Will Green is news editor of Supply Management
11 July 2018

Malaysian bank CIMB cashed in at the CIPS Supply Management Asia Awards by claiming overall victory.

The winners were announced at an awards dinner during ProcureCon Asia in Singapore.

CIMB, which also picked up a gong for best process improvement initiative, achieved savings of $81m in two years as a result of a programme to improve the company’s cost income ratio.

The strategic cost management programme was announced in 2015, giving rise to the establishment of Group Strategic Procurement (GSP).

GSP successfully redefined procurement policies and frameworks and launched an e-procurement system, including spend analytics, online vendor registration, e-auctions and procure-to-pay, across four countries.

Judges in the awards, which were organised in partnership with ProcureCon, praised CIMB for establishing group procurement with a “good plan, well executed”.

“Lots of process improvements in a structured programme with ambitious timelines that were achieved,” they said.

“Lots of standard procurement techniques implemented which have delivered real benefits to the business impact cost to income ratio.” 

The winners:

Best Contribution to Corporate Responsibility 

Intel Corporation

 

Best Cross-Functional Teamwork Project

 Vedanta Limited

 

Best People Development Initiative

Malaysia Airlines Berhad

 

Best Process Improvement Initiative

 CIMB Group Holdings Berhad

 

Best Procurement Consultancy Project

 DBS

 

Best Supplier Relationship Management

 PT Telekomunikasi Selular (Telkomsel)

 

Most Improved Procurement Operation – Step Change

Oyu Tolgoi LLC

 

Most Innovative Use of Technology

 IHG

 

CIPS Procurement and Supply Professional of the Year

 Inna Le Guen, Manulife

 

CIPS Young Procurement and Supply Professional of the Year

 Kenneth Wee Kiat Tan, DBS

 

Overall winner

 CIMB Group Holdings Berhad

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