World of Procurement blog

MAY 8, 2024

Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development. Enhances competitiveness through world-class procurement capabilities and practices. Enables adherence to policies and regulations through ethical, sustainable, and compliant practices. Purchasing's value-add is more limited.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

TYA Suite

JULY 17, 2024

Procurement strategy is the cornerstone for sustained growth when negotiating the complexity of today's corporate environments. Relies on manual processes for sourcing, negotiation, and Focuses on cost reduction through competitive bidding and bulk purchasing.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40

Empowering CPO

JUNE 14, 2023

At its core, procurement is the process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. For one, they often focus too heavily on price at the expense of other factors, such as quality, sustainability, and supplier innovation.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52