Spend Analysis

Spend Analysis: What it is and Why You Need It

Defined as the process of identifying, gathering, cleansing, grouping, categorizing and analyzing an organization’s spend data, spend analysis is accomplished with the goal of decreasing procurement costs and improving efficiencies...
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Procurement Officer

What is a Procurement Officer?

Who is a Procurement Officer? What are the Duties of a Procurement Officer? Honestly, being a procurement officer isn’t an easy job. Because it is the procurement officer’s responsibility to...
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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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