Definition
Managing the acquisition of materials, supplies, and services for an organization.
Learn more about Purchasing
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The infographic presents how the governance and reporting structure for procurement and AP can vary. It also presents how changing process ownership can encourage communication and collaboration.
Procurement professionals who have to deliver annual savings face a dilemma: Do I save costs during new product development, or wait until after the launch so I can hit my targets?
Buyers may feel powerless facing a sole-source, but they have more power than they think because they overlook the pressures on the supplier.
Too many procurement leaders and managers rely on supply management strategies that deliver results in the short term but that aren't sustainable over the long haul. Once the sheen from those early wins rubs off, senior management looks for…
Long-term agreements between purchasers and suppliers are not conventional “one-and-done” deals—they are moving targets that require perpetual negotiation if they are to come close to delivering the value that inspired them in the first…
The purchasing function plays a vital role in driving revenue and requires superior capabilities to ensure long-term competency.
It is all too easy for relationships between companies and their suppliers to become too chummy and for essential checks and balances to get less attention than they require. Often, the longer and deeper the relationship, the cozier it can…
Regardless of the industry, the best companies are in the midst of transforming their supply chains to gain a sustainable competitive advantage.
Supply management. Supply chain management. Procurement. Logistics. They're all bandied about these days, but just what is the right name for the profession?
