News

Indirect spending, which accounts for any non-production-related goods and services, is often overlooked in many businesses. However, this area of spending can make up a significant portion of overall company costs. That’s why effective management of indirect spending is essential to achieving savings and improving operational efficiency. If you are

Strategic sourcing is one of the key modern and innovative business strategies that companies incorporate into their operations nowadays. Unlike traditional sourcing in which businesses select a suitable supplier to get supplies at the lowest possible rates, strategic sourcing focuses on all important strategic factors, such as value, quality, and

In this highly competitive and ever-evolving business landscape, only those businesses that focus on supply chain management and strive to adapt modern strategies to optimize their procurement processes can succeed. Supply chain and procurement are getting increasingly complex with time and businesses are required to navigate solutions to simplify them.

Maturity assessment is an evaluation technique that serves as a capability-measurement tool for organizations. With its help, a business can identify and understand its weaknesses and strengths. It is one of the modern strategic techniques that helps businesses boost their strategic growth.  This article explores ways businesses can grow using

Spend analysis is a strategic method or technique that businesses adopt to achieve their objectives. It provides fact-based recommendations for effective and efficient procurement management while promoting a strong, long-term relationship with suppliers and vendors. This article explores how spend analysis can be important for businesses and highlights how a

Why outsource part or all of your procurement function in the following situations: The potential benefits of outsourcing procurement :