Remove Demand Planning Remove Procurement team Remove Suppliers Remove Supply chain resilience
article thumbnail

4 Predictions on Procurement’s Top Trends in 2023

Arkestro

Eager to reduce administrative busywork, procurement teams are treating the permacrisis as an opportunity to make long-sought changes along a digital journey. Procurement has had massive challenges and targets over the past year: Managing inflation. Reducing supplier risk. Ensuring continuity of supply.

article thumbnail

Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.