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...
What is a request for proposal (RFP)? Process, template, and when to use one
A request for proposal (RFP) is a formal document a buyer sends to potential suppliers, asking each one to propose how it would meet a defined need and at what...
Discover CenterPoint’s New Consolidated Procurement Solution for Europe
You likely already know how important consolidating procurement processes can be. Consolidated procurement leads to improved supply chain management, greater operational efficiencies, and substantial cost savings. All these results contribute...
9 Ways to Optimize Your MRO/Safety Spend
MRO spend is what organizations spend to procure the products and services they need for their maintenance, repair, and operations activities. It includes costs for industrial supplies, spare parts, tools,...
How to Reduce Procurement Costs by Improving SaaS Spend Management
As companies become more comfortable operating in the cloud, Software as a Service (SaaS) has emerged as a critical component in the corporate tech stack. It eliminates the need for...
Rethinking Telecom Procurement in Light of Cell Phone Carrier’s Latest Price Surge
Verizon customers who were hoping for a telecom cost reduction during these economically tough times might be disappointed by the company’s plan to increase service prices. The telecom carrier has...
Procuring Patriotism: How GPOs Help Domestic Sourcing Procurement
The Fourth of July is not only a great time for parades, fireworks, and backyard barbecues, but it’s also the perfect opportunity to consider domestic sourcing in procurement.
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