World of Procurement blog
MAY 8, 2024
It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. In summary, procurement is a strategic function focused on maximizing value, reducing costs, and building competitive advantage.
Empowering CPO
JUNE 26, 2023
Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Planergy
JANUARY 19, 2023
How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This would mean that 70% of your spending is going toward one type of product—in this case, stationery—and 30% is being spent on other types of office supplies.
Empowering CPO
JULY 2, 2023
This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reduce costs. This involves everything from identifying requirements and sourcing suppliers to negotiating contracts, placing orders, and managing supplier relationships.
Procurement Software
MARCH 11, 2022
What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. Eliminate maverick spend.
Procurement Software
MARCH 11, 2022
What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. Eliminate maverick spend.
IBM Supply Chain Blog
APRIL 4, 2024
Conversely, it has a larger scope than task management, which deals with individual tasks, and project management, which handles one-time initiatives. By establishing standardized workflows and decision rules, BPM streamlines the claims process by reducing processing times and minimizing errors.
Expert insights. Personalized for you.
52 
Let's personalize your content