Procurement

Sapphire recently highlighted Enable and other new software as key advancements ushering in a new era of procurement tech.

Ultimately, the decision to offer customer rebate programs should be based on a thorough understanding of sourcing and procurement expectations.

Discover how purchasing teams can better control costs and mitigate risks with a strategic sourcing approach.

In this blog post, we elaborate on three cost optimization strategies Gartner recommends and discuss four ways these strategic goals can be translated into reality.

As a procurement professional, you make dozens of decisions every day concerning vendor selection, contractual terms, supply chain risk, technology implementation, and stakeholder management. You’re often forced to manage conflicting objectives and make important choices under pressure, while always being cautious to balance risk. With this in mind, here are 5 priorities procurement can’t ignore as they navigate the 'new normal'. 1. Delivering value The primary goal for a procurement...

Procurement teams operate in a very volatile environment. During the early stages of the pandemic, stakeholders saw real responsiveness from procurement teams: a sense of urgency, business problem solving and far less process demands. Now, the risk for procurement is that stakeholders will want this level of service all the time, not just during a crisis. In order for procurement to be more responsive to changing business needs, they need to become agile – to have the knowledge and ability...

The COVID-19 pandemic posed significant challenges for supply chains globally, forcing business leaders to quickly shift from a posture of growth to survival. As a result of the disruption, cost management and supply continuity were suddenly top of the agenda and all eyes turned to the procurement to help companies reach their goals and form a strategy. However, there is a perception among business leaders that procurement is only required when exclusively aligned with cost management and...

Purchasing functions are at the center of a successful supply chain and for many years now, purchasing teams have been working towards cutting costs and increasing revenue. However, in doing so have faced many barriers including manual purchasing processes and a lack of clarity, especially when it comes to negotiating contract terms for rebates. According to a report prepared by Harvard Business Review, 24% of respondents said they do not effectively evaluate supplier business practices at...

The procurement role is consistently evolving from a clerical back office function to a strategic business function. Procurement is more than just purchasing goods and services; it has moved to managing and deriving value from the supplier relationship. In rebate management their role involves identifying the right supplier, evaluating supplier performance, and negotiating trading agreements that can provide the highest value at minimum cost. Procurement also has a major influence on the...