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 ...

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 ...

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

For every business, accounts payable (AP) is a costly and time-consuming expense. Every organization, no matter how small, has expenses. Processing can be inefficient ...

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 ...

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 ...