Compliance and getting value are challenges Procurement has always had to deal with. Are we really getting the rebates, credits and other benefits our organisations are contractually entitled to? If nobody audits and manages the supplier contract, money and business value will almost certainly be left on the table. But how far do you go […]
Has Procurement REALLY Evolved Beyond Saving Money?
What is the purpose of Procurement? The old school purpose of procurement was to save and cut costs. But we are now in 2020, and for at least the past two decades, there has been much talk about the need for Procurement to re-evaluate its purpose and work with business leaders to develop category plans […]
How Procurement Can Take a Strategic Approach That Inspires Stakeholders
There’s often friction between Procurement and other functions. Stakeholders see an overemphasis on short-term savings as a threat, which destroys business value. Procurement should be more than an efficient tendering machine. And in many organisations Procurement started the journey towards a more strategic approach many years ago. Most teams, though, still have a long way […]
Here Is a Quicker Way of Getting Better Supply Market Insights
Sales people spend a lot of time and effort understanding their target markets and prospects. Meaningful insights mean better sales strategies and more sales. Similarly, procurement professionals need a good understanding of the supply markets they operate in. These insights will shape sourcing strategies, which in turn will put the buying organisation in the best […]
Is It Time to Renegotiate Your Supply Contracts?
Your supply contracts are important. They govern your commercial relationships. However, after they have been negotiated and filed, they are often forgotten about. Years may pass by and business contexts may have changed. Contracts that were once fit for purpose may no longer be suitable or protect the organisation adequately. It is, therefore, necessary to […]
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