A functional and cohesive procurement policy is vital to improving profitability. While clear standard operating procedures are important, it takes more to create efficiencies. The procurement ...

Procurement department organizational structures often -- but not always -- reflect the organizational structure of your business. Additional factors, such as communication patterns, the size of your ...

Sourcing, contracting and paying external vendors for goods and services – all of which fall under the big umbrella of procurement – are a big part of New York City government. The city spends about ...

Getting the right materials at the right time and price is incredibly important for any successful business. Material procurement affects everything from product quality to company profits. Smart ...

Did you know that efficient procurement practices can add to your organization’s competitive advantage? Before I explain how, I want to start out by talking about Porter’s Five Forces of Competitive ...

The past year’s economic volatility forced business leaders to shift strategies and reduce spending while simultaneously seeking new paths to profitability. In particular, according to a Gartner ...

Among the countless insights to emerge in this era of sudden and accelerating digital transformation, your enterprise may have experienced the fragility of a supplier ecosystem that’s easily disrupted ...

Paper-based procurement has long been the way governments operate, and it does help ensure security and compliance. But it ...

Consider this real-life story: A procurement team was looking to modernize its operations. The team ran purchasing for a company with more than 4,000 employees, and it felt that its process could use ...

Procurement functions as the critical interface between an organization and its external resource providers. The process involves identifying needs, evaluating potential suppliers, negotiating terms, ...

Material procurement explained: Process, strategies, and benefits Getting the right materials at the right time and price is incredibly important for any successful business. Material procurement ...