The procurement project for Aramco

Executive Summary of this Project

The procurement project for Aramco is a comprehensive journey aimed at strategically optimizing the acquisition of goods and services. From its beginning as a back-office function under finance, procurement has become a pivotal department oversight within technology, managing a substantial budget for R&D labs. The department’s strategic role extends beyond cost management to actively drive innovation, sustainability, and risk mitigation. Aramco’s procurement function seeks to add long-term value through careful stakeholder analysis (TCO) considerations and a nuanced understanding of market dynamics. Recommendations for streamlining the procurement function encompass people development and process optimization. This endeavor positions Aramco to strategically align procurement functions with organizational goals, nurturing innovation while maintaining value creation.