Now more than ever, a competitive advantage is rooted in efficiency. Most would agree that businesses want to save the maximum amount of capital while also maintaining or increasing the value of their services. While simple cost reduction measures may work in the short-term, there is no solution more effective in the long-term greater than the establishment of a proficient, integrated, and empowered procurement department. Procurement might evoke a negative connotation that is associated with the siloed departments of a decade ago, but now more than ever, procurement finds itself squarely rooted in most business decisions.
Starting a procurement department that is integrated and efficient can be a daunting task. From hiring the appropriate individuals, to setting realistic goals, to internally (and externally) marketing the program, there is much work to be done. For a more in-depth look at the first part of the equation, talent in procurement, read: Attracting Talent to Procurement.

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