Strength in Numbers

Advanced undertook a review of its purchasing operation at the end of 2023 to integrate the principles of collaborative purchasing, enabling multiple entities within the Halma group to work together to negotiate better terms with suppliers, manage contracts more effectively and streamline the supply base. It was identified that one of the weaknesses of the existing purchasing function was its focus on transactional rather than strategic procurement and that it would be better to focus on developing mutually beneficial supplier relationships. Using the Halma group network, Advanced engaged with the ‘Halma Strength in Numbers’ initiative which focuses on leveraging procurement to optimise value and efficiency whilst complementing our autonomous model.

This strategic initiative within the Halma group focuses on collective procurement to optimise value and efficiency in order to accelerate growth & embed best practice. Advanced made full use of this resource by taking part in a group passive tender and is projected to make a 30% saving in the Passives category which had a spend of over £1m over the next 12 months.