How does Procurement ensure all savings are recognized by Finance? This is an on-going question of procurement organizations who are trying to validate the worth of their activity to the broader organization.
Executive Insights Companies are aggressively looking for tactics to reduce costs and unlock savings on all their indirect and direct purchases and to more effectively manage their cash flow in procurement. Declining market demand and over-capacity is driving finished product manufacturers to put price pressure on their suppliers. They too must then re-negotiate contracts with … Read More
Now more than ever, companies need actionable insights from their data to improve performance in every part of the organization and to help weather Covid-19 and all its economic impacts.
Procurement leaders must urgently spearhead a campaign to help their businesses endure the coronavirus recession and lay a solid foundation that maximizes future business opportunities. This article outlines how procurement teams can formulate effective Cash Management, Supplier Management, Risk Management, and Spend Management Strategies that help mitigate the effects of this (or any future) crisis. … Read More