The tail spend strategy in procurement is a cost-saving approach for businesses focusing on the smaller, usually less expensive items of their supply chain. By carefully analyzing spending patterns and utilizing technology, companies are able to identify opportunities to reduce costs without sacrificing quality standards. This strategy also offers long-term benefits such as improved supplier relationships, streamlined processes, and better negotiation capabilities. In essence, it’s a way to get the most out of your procurement budget and ensure that no expense goes overlooked.