There are costs that are plain for everyone to see, and then there are costs that may be less obvious. For example, costs associated with sub-optimal procurement processes could represent a substantial unnecessary expense for your organisation. But how do you identify such hidden costs? And more importantly, how do you eliminate them? First consider […]
How to Negotiate Great Supplier Contracts
Negotiation has traditionally been seen as the “raison d’être” for procurement professionals. While the profession adds value in a variety of ways, the ability to negotiate well remains a core skill – love it or loath it! Preparation is everything when it comes to negotiating a favourable outcome. There are a number of ways of […]
How to Ensure Your Procurement Approach Supports Corporate Strategy
Do you really know what your organisation is trying to achieve? Profitability is probably part of it. But what about the strategy and priorities in more detail? Clarity on corporate strategy is important because departmental strategies need to be aligned. Procurement strategies, in turn, need to be extensions of those corporate and departmental strategies. In […]
How Spend Data Reveals Opportunities to Unlock Hidden Value
Let’s talk about money! The fact that you are reading this article probably means that your organisation is spending a substantial amount of money on goods and services. That spend deserves attention. But how do you start getting to grips with it? Unless you already have a well-functioning spend management system in place, you’ll need […]
3 Companies That Created Business Value by Digitising Their Supply Chains
Businesses can achieve substantial growth through leveraging technology, and one of the ways they can do this is by digitising their supply chain. It’s important to recognise that the benefits of this are not just cost-savings, but digital supply chains have the ability to increase business value in a vast range of ways. Here are […]
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