Procurement Shared Services (PSS) is an official business term that refers to the practice of leveraging a centralized service model to manage the purchasing of goods and services. This model allows organizations to reduce costs, streamline processes, and improve the quality of the products and services they procure.
PSS enables organizations to leverage economies of scale, optimize resources, and gain access to a wider range of products and services. It also helps organizations to better manage their supply chain, reduce risk, and improve compliance with regulations. PSS is a cost-effective way to improve the efficiency of procurement operations, and it can help organizations to become more competitive in the marketplace.
