best practices

4 Ways to Improve Procurement Processes and Boost Organizational Value

Improve your procurement process

Procurement teams…those are the people who find an organization’s suppliers, right? If you’ve adopted this sort of limited view about procurement (or are surrounded by people who have), you’re (or they’re) gravely underestimating the impact of these teams. The procurement processes themselves and the people who are responsible for implementing them, can affect almost all …

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5 Ways to Increase Your Procurement Team’s Performance

Improve procurement team performance

The role of traditional procurement teams is changing. By definition, procurement teams are typically responsible for obtaining goods and services based on a company’s needs. However, these days, their role is expanding and they’re also in charge of staying on top of supply market trends and understanding how these can affect the business. Companies rely …

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Reverse Auction Benefits: 3 Ways They Can Drive Better Business Value

Reverse Auctions drive better business value

We’ve dedicated quite a bit of time speaking to the virtues of the RFP process. Indeed, if you’re sourcing any complex good or service, running a Request for Proposal, is a great way to gather and evaluate the data the will ultimately support the decision you make. While running a comprehensive sourcing event makes sense …

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5 Benefits of eSourcing for Both Purchasers and Suppliers

eSourcing benefits buyers and suppliers

The benefits of eSourcing may be clear for buyers, but streamlining the procurement process tends to be met warily by vendors. The apprehension stems from the impression that any level of process automation commoditizes their products and services, and that eSourcing platforms are largely one-sided in favor of the purchaser. The fact is, however, that …

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