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 […]
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. […]
Near Future Supply Chain Management Technology Trends
Investment in supply chain technologies has risen dramatically due to the rising global need for autonomous solutions. In 2022, businesses have begun to utilize technology-driven models throughout their operations to properly equip for supply chain management risks. Pay attention to these supply chain technology trends in 2022 and beyond to improve your company’s productivity and […]
A Guideline to Build a Practical Sourcing Strategy
As organizations continue to harness the power of globalization to improve their performance, the importance of sourcing goods from vendors has become undeniable. Meanwhile, challenges such as economic and political instability, technological disruption, and other factors have made the market a fiercely competitive environment. As a result, it is critical for businesses to develop a […]
