Procurement Insights

JANUARY 3, 2025

20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Analytics and insights from procurement data were minimal.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

World of Procurement blog

MAY 8, 2024

Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk. Procurement is strategically important because it: Drives significant cost savings through economies of scale, supplier negotiations, and process efficiencies. Dual sourcing and supply chain digitization can help.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

JUNE 14, 2023

It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Procurement is central to a business’s operations, with a purpose that encompasses cost-efficiency, quality control, risk management, and strategic sourcing.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

JUNE 27, 2023

External Data Sources: External data sources, such as market data, industry benchmarks, economic indicators, and supplier directories, provide valuable context for spend analysis. Incorporating external data enhances the understanding of market trends, benchmarks performance, and identifies opportunities for strategic sourcing.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40