Source One introduces its new whitepaper series now as a comprehensive eBook. The series, Procurement Transformation: Industry Perspectives, picks the brains of Supply Management's most celebrated thinkers and leaders. The five-part series includes the experts' takes on the hot topic of Procurement transformation. Using their collective decades of experience, the leaders analyze the subject through numerous lenses, providing insights, reflections and best practices, driving the Procurement conversation forward. Download it today for an informative, detailed look at the Procurement Transformation process.
To Save Money on Office Supplies, Stick to One or Two Vendors
Leigh Merz, Staples Business Resource Center, 7/19/18
Encouraging the use of approved vendors helps office managers balance their colleagues preferences with the company's budget. Going even further, reducing the number of suppliers used to one or two can provide many benefits for an organization such as saving money and receiving a higher quality service level. Other perks of using the same vendor stem from getting to know the needs and wants of the office, allowing for consolidation of unnecessary items. See how an enhanced vendor relationship can help your office cut costs and improve quality.
Gain Procurement Excellence Through Supplier Relationship Management
Dejana Dosen, Next Level Purchasing, 7/18/18
Today's market is becoming increasingly globalized and competitive as time goes on. Following previous initiatives to speed up product availability, improve transaction accuracy, and rationalize the supply base, the next step is enhancing supplier collaboration. The topic of supplier management has been around, but hasn't been completely integrated into the procurement function. It's time for that to change- strong supplier relationships forges long term partnerships, providing continued value and savings. Check out the important steps to take when enhancing your supplier relationships.
Can We Stop Calling Cost Avoidance "Soft Savings"?
Torey Guingrich, Sourcing Innovation, 7/18/18
"Soft savings" value beyond unit cost and volume reduction. Recently, many organizations have given soft savings an overly broad definition spanning to include cost avoidance, budgeted-cost reduction, and other value-adding practices Procurement brings through their sourcing and negotiation. Torey takes a deeper look at situations in which Procurement professionals tend to struggle in generating savings and may see an increase in bottom line cost. These areas include new recurring purchases, capital purchases, increased volume, dynamic requirements, and market changes. In order for Procurement to support an organization's evolving needs, the two must transform and collaborate on their vision of sourcing and negotiation value.