Do your procurement problems have you feeling like you’re stuck in the mud? (Pun intended.) Trying to navigate your indirect spend with numerous suppliers, thousands of component parts, and multiple locations and buyers is sometimes like being trapped in a traffic jam. The good news – innovative technology solutions can clear up those bottlenecks and make your procurement journey a whole lot smoother. Whether you're a CPO, sourcing manager, or corporate finance professional, watch the...
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A playbook for finding savings and expanding value Despite the fact that it can make up as much as 15% of the annual revenue for most businesses, indirect spend is often viewed as merely a back-office function. What’s more, ignoring indirect spend could lead to missing out on its hidden savings potential. In this guide, procurement leaders will discover how to optimize indirect spend in order to impact their organization’s bottom line. What you’ll learn:...
Supplier relationship management is the discipline of strategically planning for, and managing, all interactions with third-party organizations that supply goods and/or services in order to maximize the value of those interactions. In practice, supplier relationship management entails developing closer, more collaborative relationships with key suppliers in order to uncover and realize the new value and reduce supply risk; but what exactly is “supply risk”? George Zsidisin, assistant professor of supply chain management at Michigan State...