The International Monetary Fund promotes international cooperation and exchange rate stability.
ADR provided a baseline of current practice to best practice, which resulted in a rewrite of all policies and procedures by ADR for the IMF.
Prior to the baseline, policies and procedures were combined, creating an impossible environment for needed changes. All policies and procedures had to be circulated to the governing directors and in some cases, all of the member countries of the IMF for approval. This created a process where change was difficult and nearly impossible and the organization could not evolve to World Class.
ADR presented its baseline report highlighting that the IMF was unable to develop strategic sourcing under the current governance, the current organisation structure created confusion among the stakeholders and the team did not have the appropriate responsibility, authority and accountability.
ADR was able to impact the organisation significantly by separating policy from procedure. ADR’s recommendation to reduce organisational complexity enabled the procurement team to begin closing the gap from a traditional three-bid process to a strategic sourcing process. ADR created the recommendations for a new organization, strategic sourcing process, alignment of procurement to the organization strategy and staff placements.
All of the recommendations were adopted and implemented by the IMF.
The ADR consulting team developed a 40 page research paper on benchmarks for indirect expenditure which led to a P-card process and embedding of sourcing teams with key stakeholders. We also conducted benchmarking sessions with two ADR clients (Toyota and Genentech) who are best in class in P-Cards and stakeholder engagement.
Today the procurement organisation has a new mission, focus, respect and is actively managing 90% of the total expenditure, rather than 30% prior to the engagement.
International Monetary Fund
Baseline report and recommendations
The procurement organization has a new mission, focus, respect and is actively managing 90% of the total expenditure