|By PR Newswire||
|February 26, 2014 01:00 AM EST||
RIYADH, Saudi Arabia, Feb. 26, 2014 /PRNewswire/ -- Saudi Telecom Co. (STC), the Kingdom's largest telecommunications provider, held a public event at their Riyadh headquarters last February 4th with over 100 of its major regional and international suppliers attending. Eng. Abdulaziz A. Alsugair, Chairman of the Board and Managing Director, announced the launch of a major Procurement Transformation program as a key development for 2014 that will build on the momentum of the overall company transformation that STC launched last year.
Mr. Cyril Pourrat, Vice President of Procurement and Support Services presented to over 350 guests the strategic objectives and ambitious targets of the initiative. Eng. Faisal Saeed A Alsaber, Vice President of Personal Services, and Mr. Robert Budafoki, Vice President of Enterprise Business Unit, joined the session to stress the importance STC attaches to the role suppliers will have in enabling and developing the business.
With over SAR 10 B budget expenditures for 2014 just for its operations in the Kingdom, STC is a key global player in the Telecom industry's global value chains. The new Procurement organization, structured around highly specialized category directors, has adopted new processes that bring cross-functional teams together across STC. They are now reshaping the sourcing strategies and engaging the global and regional best-in-class companies to explore new business opportunities.
"The success of STC is the success of our key stakeholders, and today marks the start of a new focus on our vendor base," said Mr. Pourrat. "Going forward, we want performance by having each work at its best."