In the UK’s Utilities sector where some 65 buyers have collaborated with Achilles for over 25 years to share the cost of creating, maintaining and sharing a list of validated and audited suppliers to an agreed set of standards. The UK utilities sector estimates that as an industry it saves some £22 million every year and each buyer in the region of £500,000 per annum from more efficient procurement processes and higher quality suppliers as a result.
Achilles acts as a central point of contact for UK utilities suppliers. We support them in providing information that the UK utilities sector needs to make good procurement decisions. Achilles steps in to provide advice and guidance when suppliers fall short of those standards. This enables suppliers to reach the required level and maintain diversity across the utilities value chain. It ensures local supplier sourcing is fully supported by providing much needed support to smaller, less well-resourced SME suppliers.
As regulatory requirements change in the UK, such as with the new UK Procurement Act, Achilles has the economies of scale to adjust supplier due diligence and auditing processes. Analytics dashboards and reporting formats allow UK utility companies to respond seamlessly without adding pressure to limited in-house resources.
With scrutiny increasing from stakeholders and regulators industry sectors have an opportunity to demonstrate their commitment to sustainable, and ethical procurement practices. This can be achieved throughout the supply chain, by complying with emerging legislation and improving operational efficiency across the procurement function.
By adopting a standardized, streamlined approach to supplier risk management, UK Utilities companies can ensure they are partnering with the right suppliers in an efficient, cost-effective manner and are working together to improve standards across the supply chain.
