Is your organization ready to take on indirect spend?

This quiz goes through some of the key procurement strategies and technology capabilities that you need to successfully tackle indirect spend. To get your grade – just answer the questions below, tally them up, and discover if your organization has what it takes.


IndirectSpendQuiz

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If you didn’t answer yes to everything, check out our educational whitepaper to learn more about integrating AI technology into your organization and see which vital procurement strategies you can implement to start driving results now.

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Strategic sourcing:  A disciplined approach to supply market analysis that continuously improves and re-evaluates the purchasing activities of an organization. Strategic sourcing provides the best possible values in the marketplace to produce sustainable savings and reduce cycle times. Sourcing optimization starts from a diverse strategic perspective and usually takes the form of strategic decisions. It is important to identify untapped opportunities to improve vendor access and increase the value of each dollar spent. Drive benefits...

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Spend Under Management Part 1 of 4

Ever wonder why many companies view indirect procurement as a non-strategic back office function? Maybe it’s that indirect practitioners often focus too narrowly on measuring cost savings from indirect spend sourcing initiatives and lose sight of how those initiatives impact core financial metrics such as total cost of ownership (TCO), operating profit, working capital, and cash flow, among others. Therefore, adopting a well-structured indirect spend management framework that establishes that connection can bring real value...

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