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Transformation Award

Winner: Fresenius Medical Care

Entry Overview

In 2022, Fresenius Medical Care (FME), a €19.4bn-revenue global healthcare company, was facing market headwinds – volatile and inflationary conditions, grim earnings outlook, and a sliding stock price. Procurement was fragmented into seven teams with reporting lines into 70+ entities for 450+ professionals, including 170 procurement resources reporting into non-Procurement functions. Additionally, the function had varying capabilities, a limited ability to leverage scale, and was struggling to achieve its savings target of €408m by 2025, with only €70m in the 2022 savings pipeline. These gaps hindered sustainable value creation, imperilling business performance.

To tackle this, FME procurement launched the ONE Procurement Transformation to enhance functional capabilities, deliver a step-change in value creation and become a strategic partner and advisor to the management board and businesses.

FME consolidated disparate teams under new leadership to leverage skills and scale and focus on strategic activities. Today, 49% of its resources are dedicated to strategic and governance activities, up from 29% in 2022. Additionally, the team streamlined all transactional and operational activities to three newly established global business service centres, accounting for 25% capacity, to enhance efficiency.

This new global procurement team has employed an innovative problem-solving approach, focusing on speed, nontraditional ideas and cross-functional collaboration, to achieve €233m savings in 2023 and develop a cumulative pipeline of over €500m by 2025.

This transformation cements FME Procurement as a strategic business partner and solution provider that can advance innovation and drive sustainable value creation to enable FME’s mission to its patients.

Press release

Official announcement of the World Procurement Awards 2024 winners and highly commended

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How does it feel to win an award?

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Judges’ feedback

“A great example of transformation through restructuring and investment in people, process, technology and culture. I loved the commitment to investing in the team/capability. Fantastic results recognised at the top table with the CEO, president and other VPs recognising Procurement’s contribution to strategic business goals. A worthy winner”

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