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's value-add is more limited.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Supply Chain Game Changer

JULY 31, 2019

A while ago, we blogged about how more Startups are looking to Supply Chain Management to boost their productivity as they scale. Rather than taming out-of-control spend later , they’re maximizing profitability by being strategic about the company-wide spend now , by hiring a team of Procurement category managers.

Supply Chain Efficiency 72

Supply Chain Efficiency Supply chain Supply chain management Supply chain management 72

ivalua

FEBRUARY 25, 2021

According to the panelists, there are some key features and functionality that make best-in-class supply chain solutions a better choice for healthcare organizations: Guided procure-to-pay compliance: The concept of compliant purchasing in healthcare encompases the front-end user experience. Demand planning capabilities.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Empowering CPO

JUNE 20, 2023

It’s a strategic pillar that underpins effective procurement and sourcing, providing an insightful lens through which organizations can view their spending patterns. Spend analysis plays a vital role in procurement and strategic sourcing. The strategies for managing these two types of spend also differ.

Supplier consolidation 40

Supplier consolidation Negotiation Suppliers Procurement strategies 40