You probably issue RFPs because you think it’s the only way to get the best price on your major purchases. It's a common procurement strategy misconception, but it’s just not true. I worked at an RFP software company.
Before we get started it’s worth pointing out that there’s really nothing wrong with spot buying in procurement. Sometimes the situations we find ourselves in, or the way the market behaves, makes it completely.
When it comes to corporate cost reduction and procurement strategy, you have several things to consider. First, is getting the best price on your indirect and direct spend – easier said than done. Second, is making sure.
Being a leader in strategic sourcing, means you're thinking not only about where your organization is, but where it should be. It means you're always keeping an eye out for the best procurement thought leadership,.
How can you streamline procurement? Can procurement even be effectively automated? These are questions everyone from CPOs to category specialists struggle with. Especially since you have to do more with fewer resources.
One of the go-to fixes is moving to centralized procurement. Meaning one location retains control over most, if not all, of the organization's purchasing decisions. The problem with decentralized procurement is each.
If you're a procurement professional and you're not already following Procurious, you should be. They continually produce excellent thought leadership content including blogs, videos, training, and discussion forums..
You probably have a tail spend problem. In other words, you are spending a lot more money and time managing the “extras” of your business than you realize. Any good procurement professional focuses on managing direct.
Finding genuinely helpful content in the procurement space is easier said than done. Sure, there’s a wealth of outdated information, vague predictions, and thinly veiled sales ads, but not much expert, actionable.
No matter how big or small your business is, you have to be proactive and strategic about your indirect spend. Left unchecked indirect, or “unplanned spend,” can quickly become a formidable obstacle. In today's video,.