So now that you know what spend under management (SUM) is, how would you go about adopting such a framework? SUM is built on creating a partnership between indirect procurement and operations along five key operating principles across sourcing, contracting, buying, and spend decision-making. At its foundation is executive leadership with joint operating targets established between indirect procurement and the operating groups they support. The actual SUM model measures the maturity of the organization across...
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Procurement and purchasing activities and improved spend management have always been competitive factors for an enterprise. Managing key supplier relationships and costs contribute directly to bottom-line profits. Controlling indirect procurement spending can introduce various cost-saving opportunities and help organizations improve their operating costs. Three areas in which companies try to curtail their procurement and purchasing costs are reduction in spot buys, controlling the maverick spend, and managing tail spend. Each one can be optimized to...
MADISON HEIGHTS, MI, August 3, 2018 – Xeeva, Inc., a global provider of AI-powered procurement and sourcing technology, has announced that it was named a finalist by the 2018 SaaS Awards for Best SaaS Product for Supply Chain/Warehouse Management. In its third year of recognizing and celebrating innovation in software, the 2018 SaaS Awards program accepts entries from companies globally. Over 300 organizations entered, with international entries coming from North America, Canada, Australia, UK, Europe,...