Indirect Spend Procurement is an official business term used to describe the process of purchasing goods and services that are not directly related to the production of a company’s products or services. This type of procurement includes items such as office supplies, IT equipment, travel expenses, and professional services. Indirect Spend Procurement is an important part of a company’s overall strategy, as it can help to ensure that the company is getting the best value for its money and is able to manage its budget more effectively. The process of Indirect Spend Procurement involves researching and evaluating suppliers, negotiating contracts, and monitoring the performance of suppliers to ensure that the company is getting the best quality goods and services at the best possible price. It is important for companies to have a well-defined procurement process in place to ensure that they are able to get the most out of their indirect spend.
