World of Procurement blog

MAY 8, 2024

Enables adherence to policies and regulations through ethical, sustainable, and compliant practices. In summary, procurement is a strategic function focused on maximizing value, reducing costs, and building competitive advantage. Well-defined contracts help ensure suppliers meet expectations while protecting the buyer's interests.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

Initiatives that prioritize environmentally friendly practices, fair labor, and responsible sourcing improve brand reputation and mitigate potential legal and reputational risks. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Empowering CPO

JUNE 14, 2023

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. Lastly, traditional models often overlook the strategic potential of procurement.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

MAY 5, 2023

In essence, procurement serves as the backbone of an organization’s supply chain, contributing to cost savings, risk management, and supplier relationship management. This approach often resulted in inefficient use of resources, limited visibility into supplier performance, and difficulty in managing complex supply chains.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain budgeting Procurement Real-time Visibility 52

Procurement Heads

JANUARY 4, 2023

Even at that point blue chip corporations recognised the value of procurement and understood that when you’ve got substantial third-party spend, it’s important to use strategic sourcing approaches. As a Buyer at British Airways, I bought a range of different categories from engineering spares to airport services.

Supply Chain Efficiency 246

Supply Chain Efficiency Sustainability Agile and Lean Supply Chain Suppliers 246

Procurement Software

MAY 23, 2023

Profit from the Source: BCG’s 10 Step Plan to deliver Procurement Excellence It starts off by introducing Tim Cook of Apple as being something of an anomaly. Very few CEOs come from Procurement or Supply Chain. Supply Chain should become one of the top agenda items on board level meetings.

Procurement 52

Procurement supply chain budgeting Agile and Lean Supply Chain Suppliers 52