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Should procurement teams aim for full maturity in all categories? Big bang or steady state? 

Procurement Leaders

The maturity of individual categories can also be a function of buyer capabilities and stakeholders’ appreciation of procurement’s value. Even if a category is gifted by the most forward-thinking buyer at the tiller, if the business ignores their skill and avoids the process, then progress is unlikely to be made.

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How to Conduct a Spend Analysis in Seven Steps

Jaggaer

Office supplies, marketing travel, legal, direct and indirect spend should all be categorized appropriately. Ensure that all of your buyers are purchasing from preferred suppliers. Whether you use UNSPSC, eClass, or your own company-specific categories, you need to be able to determine where your money is being spent.

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Supply Market Survey and Analysis

NLPA (Next Level Purchasing Association)

You essentially want to answer the question, “How competitive is the market in this industry?”. When a market is highly competitive it means that: There are a lot of available suppliers. Buyers have more bargaining power. The number of suppliers in a market depends on several factors, one of which is “barriers to entry.”

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Thought leader: How to get early supplier involvement right

Procurement Leaders

On the other hand, if the buyer would involve the supplier intensely, it would provide the functional specifications ( see Figure 2, above ), such as the expected weight of the new car, and request a new wheel design from its supplier.

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Procurement 2024: BIG Prediction – Buyer Beware: “Fake News” Invades Supply Markets

CPO Rising

The analysts spend hours discussing key learnings from their different market research surveys, as well as the highlights from their […] For more than a decade, Ardent Partners’ senior analyst team has gathered in Boston for a multi-day company strategy and planning meeting.

Buyers 40
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The Science and the Art of Procurement

ivalua

capturing and exploiting innovation from supply markets and individual suppliers becoming a top priority for organisations and therefore procurement functions.

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Strategic Sourcing Success – Techniques Deployed by Leaders in S2P

Jaggaer

Assessment of the supply market (who offers what?) The assessment of supply markets is broken down, at least in large organizations that source strategically, into category management, with a category manager assessing the supply market for similar products and services sought.