World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Purchasing is more transactional and tactical. Purchasing focuses specifically on the buying transaction.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Supply Chain Game Changer

SEPTEMBER 29, 2020

Subscribe to Supply Chain Game Changer. In our experience the best way to systemically, and sustainably, optimize inventory is to take a process based inventory turnover improvement approach. The global Inventory management business processes that we focussed on made phenomenal improvements: Supply/Demand Planning.

Inventory 90

Inventory Raw materials Supply Chain Optimization Demand 90

Empowering CPO

JUNE 27, 2023

This is where spend analysis steps in as a powerful tool that empowers procurement professionals to make informed decisions, optimize costs, and drive strategic outcomes. It involves a detailed exploration of spending at the category level, allowing procurement professionals to identify trends, patterns, and opportunities for optimization.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40