Despite changes in leadership ahead of their corporate split, Vista Outdoor has managed to stay best in class when it comes to procurement. For the second year in a row they’ve been named one of the World’s Top 50 Procurement Organizations.
Earning recognition as one of the top procurement organizations in the world is a testament to the hard work of our supply chain departments at the corporate and brand levels, as well as across all areas of our company. The past few years have brought new challenges to sourcing and procurement, but our hard-working and talented teams routinely find unique solutions to overcome those obstacles. Thanks to their expertise and execution, we’ve improved profitability and increased shareholder value.
Gary McArthur, interim CEO, Vista Outdoor
The procurement awards are given out by procurement intelligence and analytics provider, Beroe Inc. They’re based on their Best-in-Class Index, which has the following four quantitative metrics.
- Cost of goods sold as a percentage of sales
- Inventory as a percentage of sales
- Payables as a percentage of sales
- Gross margin return on investment
Companies (that have won Best-in-Class Procurement awards two or more times) consistently exemplify the pinnacle of procurement excellence. Their achievements reflect not only their commitment to best practices and innovation but also their dedication to operational efficiency and strategic foresight. Garnering the Best-in-Class Procurement awards multiple times, these titans of their respective fields have showcased the importance of adept procurement strategies in maintaining industry leadership. It is their unwavering commitment to quality, adaptability, and forward-thinking approaches that set them apart, further solidifying their esteemed reputations on the global stage.
Beroe Awards Announcement
It has been challenging times for procurement organizations the past few years. Through pandemic there was skyrocketing inbound freight costs, which have now been followed by inflation and too much inventory.
I am very proud of all the members of the Vista Outdoor team who helped achieve the results that led to this award. We have maintained our emphasis on supply but added increased focus on managing inventory while reducing cost and integrated five new acquisitions. Our Centers of Excellence provide our brands with significant shared resources that can be leveraged to drive growth in revenue and profitability including expertise in sourcing, global distribution, enhanced purchasing power, sophisticated e-commerce systems, advanced analytics and a proven M&A playbook
David Stokoe, Vice President Strategic Procurement and head of Vista Outdoors’ Supply Chain COE