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

Una

AUGUST 2, 2022

Ivalua/Hackett’s 2022 Procurement Insights and Key Issues report found that laggards are being held back by concerns including fear of failure, access to suppliers, legacy system costs, and teams lacking the skills to leverage digital transformation. Take B2B services purchasing as an example. Contract monitoring. Self-service.

Procurement 98

Procurement Supply Chain Efficiency Real-time Visibility supply chain budgeting 98

Supply Chain Game Changer

MARCH 23, 2021

But too often the expected deliverables from Supply Chain professionals are established without a real understanding of the totality and breadth of actual tasks that must be performed underneath those high level expectations. With an iceberg it is said that only 10% of it is visible as the rest is under the water.

Supply Chain Efficiency 64

Supply Chain Efficiency Supply chain Real-time Visibility Supply 64