Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
What is the Difference Between Supply Chain and Procurement? The terms “supply chain” and “procurement” are often used interchangeably, but they actually refer to two different aspects of the manufacturing process. Procurement is the process of acquiring goods and services, while supply chain is the process of managing the flow of goods and materials. In this […]
What Are The Three Types Of Procurement? Procurement is an important process in the business world, and it’s one that can be easily misunderstood. It involves the purchasing of goods and services, but there are three distinct types of procurement that can be used – direct, indirect and strategic. Each type of procurement has […]
What is an Evergreen Contract? In business, the term “evergreen contract” is used to describe a contract that is automatically renewed after the initial contract term expires. Evergreen contracts are common in subscription-based businesses, where the customer pays for access to a service on a recurring basis. While evergreen contracts can be beneficial for both businesses and […]
How to Get the Most Out of Contract Management Contract management is a process whereby an organization manages its contracts with other organizations. It includes the negotiation, administration, and monitoring of contracts to ensure they are aligned with the company’s goals and objectives. An efficient contract management system can save your company time and money, but only […]
How do e-Sourcing Tools Save Money for Procurement Teams? The use of e-sourcing tools has been on the rise in recent years as companies look for ways to cut costs and streamline their procurement processes. And for good reason—e-sourcing tools can save your company a significant amount of money. In this blog post, we will explore […]
Why are Values Important In Procurement Processes? There’s no denying that values are important in every aspect of our lives. They shape our decisions, our relationships, and our world view. So it should come as no surprise that values also play a role in the procurement process. For businesses, procurement is all about getting the best value for […]