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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Value-add : Procurement aims to add value by optimizing processes, consolidating spend, and building supplier relationships. Contract Negotiation After selecting the best supplier, the procurement team negotiates final contract terms like pricing, service levels, delivery timelines, warranties, and other legal and commercial conditions.

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Business process management (BPM) examples

IBM Supply Chain Blog

And while enterprise resource planning (ERP) integrates and manages all aspects of a business, BPM focuses on its individual functions—optimizing the organization’s existing, repeatable processes end-to-end. BPM also provides the foundation for making refinements and enhancements that lead to continuous improvement.