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Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the SupplyChain department working on a number of different projects. For the third piece of tech, a contractmanagement system, the Legal Department was a strong ally.
Upstream covers all the strategic procurement activities such as spend analysis, sourcing, contractmanagement and supplier management (which includes supplier information, risk and performance management). ContractManagement: The piece that connects the upstream and the downstream, where value starts being captured.
To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supplychainmanagement. Negotiates cost-effective contracts with suppliers while following organizational policies and guidelines.
If you’re new to the term, Managed Procurement Services refers to the outsourcing of a company’s procurement functions to a specialized firm. This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reducecosts.
Although this is still an important part of their job, strictly working with low-cost suppliers isn’t always the best way to manage spending. Companies that adapt to supplychain volatility can swim against the tide. . Compliance is also important to achieve supplychain transparency, sustainability, and risk mitigation.
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