5 KPIs Every Procurement Leader Should Know to Evaluate Suppliers
Suppliers are more than just names on a PO—they’re the backbone of your operations. Whether you’re sourcing raw materials, technology, or services, the quality of your suppliers can make or break your success. But here’s the challenge: how can you be sure your suppliers are performing at the level your business demands? You can’t rely […]
Mastering Procurement in a Volatile World: 8 Strategies for Success
Procurement leaders today face an array of unprecedented challenges. Economic volatility, supply chain disruptions, and geopolitical tensions are reshaping the procurement landscape, demanding more than just survival tactics. To thrive amidst these complexities, chief procurement officers and procurement leaders must adopt agile, resilient strategies. Here’s how to navigate this challenging environment and turn market volatility […]
Understanding Tomorrow’s Tech: A Must for Today’s Procurement Leaders
Introduction In a business landscape grappling with post-pandemic uncertainties, supply chain disruptions, and inflationary pressures, the imperative for strategic growth is more urgent than ever. Yet, as the threat of recession looms large, it’s clear that growth must be intelligent and technology-driven. Now is not the time for procurement leaders to rely on outdated methods; […]
Practices to Turn Cost Center into a Profit Center
Supply chains are a cost center in many companies, but can be turned into a profit center if some effective practices are applied. In this blog, we will address some methods that can be used to turn supply chains into a profit center and it was a pleasure discussion with Abdullah Al Tassan who has […]
Saving Big in The Freight Business with Digital Procurement.
Established in 1940 with a single shop selling everyday items, YK Almoayyed has grown into one of the most successful and fully diversified commercial organizations in the GCC, with operations across the region. Employing over 8,000 people, the company delivers products and services in key industry sectors, including automotive, construction, heavy equipment, electronics, home appliances, […]
Take Control of your Spending
Spending, spending, spending. That is all many businesses seem to do and their commercial success will depend heavily on how they manage their operational spending and procurement process. Subsequently, it is essential to take control of spending and to have visibility. Otherwise, you’ll lose track of what you have spent money on, who you have […]
Making your Cost Efficiencies Effective
We all work hard to give our businesses the best chance of achieving commercial success by generating as much revenue as we can to increase our company’s bottom line. But it’s not just growing revenues that can give your bottom line an uplift. Driving cost efficiencies through your business by decreasing procurement costs, changing products, […]
Procurement vs Purchasing: Don’t get the two Ps mixed up
Two of the most common words beginning with P in the business world are often used interchangeably, and it’s easy to see why. The terms procurement and purchasing, which refer to the process of acquiring goods or services, are both often associated with buying supplies or materials, and so sometimes, the detail gets lost. However, […]
Say Goodbye to The Spot Buy
Unplanned, unbudgeted, and uncontrolled spot buy can have all the appearance of harmless ad-hoc expenses – and the hallmarks of a disaster waiting to happen. Many companies – particularly those that are young and need to respond quickly to events – rely on being able to make small spot purchases. Spot buy can be necessary […]
