article thumbnail

Procurement Best Practices You Should Know

World of Procurement blog

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings.

article thumbnail

Procurement Best Practices You Should Know

World of Procurement blog

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 Essential Procurement Training Courses for Professionals: How To Begin and Advance Your Career in Procurement

SCMDOJO

Read More: Top 10 Supply Chain Management Courses to Boost Your Career ] Accreditation and Industry Recognition Check to see if the training programme is acknowledged by the procurement sector or accredited by the relevant professional organizations. What is procurement and purchasing Lesson 2. Types of procurement.

article thumbnail

Top Competencies of Procurement Professionals

NLPA (Next Level Purchasing Association)

With the increasing complexity of supply chains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. However, failing to strategically measure purchasing performance can have significant impacts.

article thumbnail

Boosting Business Growth With the Help of a GPO

Una

Boosting Business Growth With the Help of a Group Purchasing Organization A playbook for boosting business growth, moving beyond the outdated perceptions of procurement, and turning it into one of your organization’s most important sources of value. What if procurement wasn’t just about cutting costs and securing deals?

article thumbnail

Cost Avoidance: The Invisible Procurement Performance Metric

Procurement Software

Unlike for those who purchase direct materials, it’s much trickier to measure hard savings – i.e. those which are easily visible on the P&L statement – in the indirect space. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile. Great for repeatable purchases.

article thumbnail

Cost Avoidance: The Invisible Procurement Performance Metric

Procurement Software

Unlike for those who purchase direct materials, it’s much trickier to measure hard savings – i.e. those which are easily visible on the P&L statement – in the indirect space. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile. Great for repeatable purchases.