cost management Archives - Procurement Cube https://procurementcube.org/tag/cost-management/ Passion for business Mon, 24 Jul 2023 08:07:08 +0000 en-GB hourly 1 https://wordpress.org/?v=6.6.2 https://i0.wp.com/procurementcube.org/wp-content/uploads/2019/07/cropped-ProCu-THICKER-All-Grey.jpg?fit=32%2C32&ssl=1 cost management Archives - Procurement Cube https://procurementcube.org/tag/cost-management/ 32 32 193294611 This Approach to Creating Competitive Advantages Through Innovation, Works for All SMEs https://procurementcube.org/competitive-advantages/#utm_source=rss&utm_medium=rss&utm_campaign=competitive-advantages Sun, 10 Apr 2022 22:12:42 +0000 https://procurementcube.org/?p=2345 The ability to innovate and access external innovation is vital for SMEs to stay competitive. And due to the fact that SMEs are generally more nimble and able to pivot better than larger companies, doubling down on innovation can be a real source of creating competitive advantages. In this article I share a few examples […]

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]]> 2345 7 Surprising, but Effective, Steps to Achieving More Profitable Growth https://procurementcube.org/7-surprising-but-effective-steps-to-achieving-more-profitable-growth/#utm_source=rss&utm_medium=rss&utm_campaign=7-surprising-but-effective-steps-to-achieving-more-profitable-growth Wed, 23 Feb 2022 10:14:58 +0000 https://procurementcube.org/?p=2322 To become more profitable, you need to either increase your turnover, become more efficient & effective or lower total costs. Even better if you can do all three. And there is an, often overlooked, way Small and Medium Enterprises (SMEs) can achieve all three by simply focusing on improving one specific area of their businesses. […]

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]]> 2322 4 steps guaranteed to boost profit and prepare your company for growth https://procurementcube.org/4-steps-guaranteed-to-boost-profit-and-prepare-your-company-for-growth/#utm_source=rss&utm_medium=rss&utm_campaign=4-steps-guaranteed-to-boost-profit-and-prepare-your-company-for-growth Sun, 16 Jan 2022 22:23:06 +0000 https://procurementcube.org/?p=2311 How to boost operational efficiency, lower costs, reduce risks and get more value from your suppliers Growing a small or mid-sized company comes with many challenges. One of the top challenges is to get key processes into good shape. That’s because you don’t want process inefficiencies to magnify as the business scales. Worst case, that […]

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]]> 2311 How to Get Business Process Outsourcing Right the First Time https://procurementcube.org/how-to-get-business-process-outsourcing-right-the-first-time/#utm_source=rss&utm_medium=rss&utm_campaign=how-to-get-business-process-outsourcing-right-the-first-time Mon, 04 Oct 2021 14:37:12 +0000 https://procurementcube.org/?p=2256 Business is becoming more and more dynamic. Gone are the days when you needed to build expensive development, manufacturing and logistics infrastructure to compete. That’s because almost any activity today can be outsourced. That brings with it flexibility and opportunities for small companies to scale much quicker than before, without having to incur huge fixed […]

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]]> 2256 Has Procurement REALLY Evolved Beyond Saving Money? https://procurementcube.org/has-procurement-really-evolved-beyond-saving-money/#utm_source=rss&utm_medium=rss&utm_campaign=has-procurement-really-evolved-beyond-saving-money Mon, 05 Oct 2020 14:02:27 +0000 https://procurementcube.org/?p=2001 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 […]

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]]> 2001 Is It Time to Renegotiate Your Supply Contracts? https://procurementcube.org/is-it-time-to-renegotiate-your-supply-contracts/#utm_source=rss&utm_medium=rss&utm_campaign=is-it-time-to-renegotiate-your-supply-contracts Mon, 29 Jun 2020 20:55:00 +0000 https://procurementcube.org/?p=1943 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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]]> 1943 How to Remove Hidden Costs by Streamlining Your Procurement Processes https://procurementcube.org/how-to-remove-hidden-costs-by-streamlining-your-procurement-processes/#utm_source=rss&utm_medium=rss&utm_campaign=how-to-remove-hidden-costs-by-streamlining-your-procurement-processes Tue, 26 May 2020 08:39:02 +0000 https://procurementcube.org/?p=1891 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 […]

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]]> 1891 How the Procurement Function Creates Business Value When Companies Merge https://procurementcube.org/how-the-procurement-function-creates-business-value-when-companies-merge/#utm_source=rss&utm_medium=rss&utm_campaign=how-the-procurement-function-creates-business-value-when-companies-merge Mon, 23 Dec 2019 11:43:29 +0000 https://procurementcube.org/?p=1647 I’ve written previously about why mergers have become such a popular growth strategy, including how our Business Focused Procurement approach can be pivotal in ensuring you maximise on the available benefits. Now I’d like to focus on how an empowered procurement function can add business value in a corporate merger situation. Often an important objective […]

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]]> 1647 When New Technology Has Negative Implications for Employees https://procurementcube.org/when-new-technology-has-negative-implications-for-employees/#utm_source=rss&utm_medium=rss&utm_campaign=when-new-technology-has-negative-implications-for-employees Fri, 29 Nov 2019 11:01:53 +0000 https://procurementcube.org/?p=1640 There’s no disputing the fact that technology is changing the way we live our lives – and run our businesses. When used in the right way, technology can provide significant boosts for businesses, aiding growth and reducing total costs across the business. But, what about the employees? Does technology always benefit them, and do all […]

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]]> 1640 Get More Value From Translation Agencies, While Controlling Costs https://procurementcube.org/get-more-value-from-translation-agencies-while-controlling-costs/#utm_source=rss&utm_medium=rss&utm_campaign=get-more-value-from-translation-agencies-while-controlling-costs Thu, 08 Aug 2019 08:01:03 +0000 https://procurementcube.org/?p=1570 2nd of 3 articles: How to buy language translation services Implementing a sourcing project for language translation solutions can be a complex and resource intensive process. In large organisations the spend is often fragmented and key internal stakeholders tend to have strong opinions about which translation agency to use. The first article in this 3-part […]

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