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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