Sourcing Process

7-Step Sourcing Process

7-Step Sourcing Process—Explained in Detail The sourcing process can be a complicated one. Strategic sourcing is an enterprise-wide process. It needs inputs from all departments and teams across the enterprise....
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Suppliers

Bargaining Power of Suppliers

How does it affect your business and how can it be minimized? Knowingly or unknowingly, most procurement professionals are affected by the concept of the bargaining power of suppliers. Some...
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Procurement Contract

What is a Procurement Contract?

What is a Procurement Contract? Types of Contracts in Procurement For project managers and procurement professionals, utilizing the right type of procurement contract can have a substantial influence on the...
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Contracts Management: Why You Need It

Contracts should be considered assets, and as such they can optimize an organization’s process to maximize the value they represent. The bottom line is this: There are few things all...
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Diversity Spend Tracking

Diversity Spend Tracking: What is it?

Diversity Spend Tracking: What is it and What are the Benefits? Diverse supplier spend refers to the amount of money an organization spends with diverse-owned businesses when purchasing products and...
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Diverstiy Spend Tracking in a Pandemic

Diversity Spend in the times of a Pandemic

Diversity Spend in Pandemic Times Supplier diversity will help businesses large and small recover from the COVID 19 pandemic, irrespective of the fact that many medical professionals say the world...
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