What is strategic sourcing? Process, costs, and how it saves money
Strategic sourcing is a long-term, total-value approach to buying, one that selects suppliers on the full cost of a relationship rather than the lowest quoted price. It is a discipline within procurement, and procurement is a function within supply chain...
How to Increase Buying Power for Procurement
Procurement departments play a fundamental role in the success of an organization’s supply chain management. Sourcing professionals manage the requisition process, aiming to secure the lowest possible prices and terms...
What is procurement analytics? A practical guide for procurement teams
Procurement analytics is the practice of collecting, cleaning, and analyzing data from across the purchasing and supply chain lifecycle to cut costs, manage risk, and guide sourcing decisions. It converts...
Cost Avoidance v. Cost Savings
The fundamental role of a Procurement Department is to make sure that the company they work for continue to receive the necessary goods and services that allow their employees to...
What Impact Does Inflation Have on Corporate Procurement?
No one would have accurately predicted the aftermath of COVID. Though the pandemic is now manageable, it doesn’t mean it completely left us. Who would have thought that a worldwide...
Small Parcel Savings for UPS and FedEx Customers
CenterPoint Announces New Program for 2022
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