The Pros and Cons of Centralized Purchasing
For many companies, centralized purchasing can save time, money, and manpower. But, for others, it risks becoming a bottleneck and a hindrance to productivity. So, what’s the solution? There are many reasons why companies choose to build a centralized purchasing system. For some firms, it helps to reduce tail spend and streamline procurement, but for […]
Unpacking The Three R’s of Procurement
The procurement of goods, services, and information can be a full-time job and – for the uninitiated – potentially confusing. The use of different acronyms doesn’t help. For many procurement professionals and managers, RFP RFQ and RFI are lumped together as part of the same process, using the same language to get the same outcome. […]
Get a Grip on Tail Spend and Get a Grip on Costs
For less formal procurement functions, tail spend – or ‘indirect spend’ – can become a long-term problem that is hard to identify. But what is tail spend, and how can it be tackled? With economic headwinds, soaring inflation, and far-flung geopolitical conflict, 2023 promises to be a year of great uncertainty for the global economy. […]
Grow up with Category Management
Growing pains are part and parcel of building a business – but done right, category management can alleviate the stress and make growing up fun. When there are just five of you in a small, serviced office, building a business can feel easy. You know what you want, where to get it, and how to […]
Ditch The Calculator – Spend Analysis Belongs in The Board Room
Spend analysis is about much more than decreasing procurement costs and improving efficiencies – it is integral to making smarter decisions for sustainable growth. There is a habit – particularly amongst small, medium, and fledgling businesses – to leave spending decisions to the grey suits, calculators, and spreadsheets of our friends in finance. Yet when […]
It’s Time to Embrace The Purchase Order
It may not be the sexiest subject on earth but there are very good reasons why businesses should embrace purchase order to get paid on time, make savings and build efficiencies across the board. Data from UK official public records show that 13% of invoices go completely unpaid every year. Meanwhile, research from American Express […]
Procurement Terminology – Unpacked and Explained (and how to survive in the digital economy)
When you’re grappling with the nitty-gritty of growing a business, the seemingly endless emergence of new procurement terminologies and buzzwords, collectively referred to as Procurement Terminology, can easily pass us by. The problem is that every business needs to adapt to the realities of digital transformation if they wish to realize the vast benefits of […]
Common Healthcare Procurement Problems & How to Solve Them
Over the years, technology has significantly improved the field of healthcare. These days, patients can easily interact with their doctors online, and doctors can perform laparoscopic surgeries. Plus, there’s no need to deal with paper prescriptions again. However, despite focusing on the benefits, we’ve largely ignored the common healthcare procurement problems recently. We have to […]
Hospital Procurement: Essentials You Need to Know
Following the rising unpredictability of healthcare and hospital procurement and the value of effective supply chain solutions, experts are urging hospitals to implement modern technology to successfully administer healthcare procurement and supply chain activities. E-procurement solutions, for example, are already increasing the efficacy of procurement in industrial and retail sectors by improving the quality of […]
