Nowadays, outsourcing is not just about getting goods and services from third-party suppliers, it is in many ways an innovation enabler. As businesses enter into
Is cost-saving the only significant responsibility of procurement professionals? This is where the leadership and the peers can underestimate the value procurement professionals can add
Following the pandemic and economic volatility, businesses are focusing on spend management, extreme risk mitigation strategies, and supply chain management more than ever. In fact,
Thinking of transforming your vendor management process? Vendor management is not just about maintaining a database of your vendors or suppliers, it involves establishing a
Are you focusing enough on contract management in your procurement process? Contract management with vendors or third-party suppliers involves contract creation, execution, and analysis. It
Relying on manual processes for the purchase requisition can be tricky and cumbersome. Using dated tools such as emails, excel sheets, or forms could lead
Supplier relationship management (SRM) is critical in any business’s supply chain management. Earlier considered primarily a transactional activity involving purchase orders and invoices, supplier relationship
Purchasing is a critical process for any organisation and has traditionally helped businesses navigate through difficult times. However, it has now become part of the
Why Proactive Vendor Management Is Important in Procurement? Vendor management is a critical part of the procurement process. As businesses grow and enter new markets
Procurement is important for businesses, large or small. The sheer impact of procurement as a service market is apparent by an estimate according to which
