Businesses are increasingly realizing the necessity of implementing more sustainable procurement practices due to changing consumer preferences and the inherent impact that companies have on the environment.
The Proof is in the Payback: 5 KPIs to Keep Procurement Departments on Track
Organizations across the globe have adopted strategic sourcing techniques in favor of tactical buying. ProcurementIQ has gathered a list of KPIs for companies that are jumping on board.
5 Tips: Say This, Not That to Build Trust in Procurement
Procurement must find a way to balance their objectives and goals against their end users’ needs, while maintaining trust and credibility in the eyes of the end user. Here are some examples of how you can rephrase common questions to elicit more meaningful stakeholder responses.
Vendor Management: Practical Steps in Making the Best of Your Top-Tier Vendors
Whether you are selecting a new vendor, managing existing vendors or preparing to go-to-market, instilling a culture of good vendor management can help build your organization’s resilience. This is fundamental to any corporate strategy.
Stakeholder Engagement: How to Measure & Improve
The topic of stakeholder engagement within procurement is a common one. This only proves how important building relationships is for procurement professionals.
Time to Implement a Supplier Diversity Program
As the world becomes more diverse and socially responsible, more organizations are recognizing the importance of supplier diversity programs.
Has Your Organization Set Up a Supplier Development Program?
It’s critical that procurement gets to know their vendors. After all, any shifts in their business can directly affect yours.
White Paper - Improving Procurement's Internal Credibility: A Guide
Credibility is something we all strive for in our professional lives. We want to be trusted by our peers and have our expertise respected by management. If you feel like your organization doesn’t value your department or your role as much as it should, download this white paper to discover actionable ideas and useful tools to start building your credibility now.
Building Long-Lasting Relationships in Procurement
The procurement function, specifically, typically aims to please two separate types of customers: internal and external. And, it's no secret that this can often be difficult, especially when goals and priorities are misunderstood and miscommunicated.
How Well Do You Know Your Suppliers?
There are many benefits of vendor consolidation and optimization, but to capitalize on these, you need a strong understanding of your supplier base and perform supplier analyses regularly
Honey, I Shrunk My Supplier Base - Using Vendor Consolidation to Cut Costs
Supplier bases inflate naturally over time but managing numerous vendors is time-consuming and can reduce your department’s effectiveness, so it’s important to continually assess your supply base.
Supplier Diversity: What’s In It For You?
Procurement departments have thrown around the term ‘supplier diversity’ for years now. While companies contracting with the Federal government must have a supplier diversity mandate, procurement professionals outside of the government realm are coming to realize the significant benefits of supplier diversity.
Beyond Cost-Savings: Proving Procurement’s Worth
In today’s business environment, it’s critical that every department proves its value. For procurement leaders, this often involves cost avoidance and key performance indicators (KPIs) – all effective measures for communicating to Finance. However, procurement departments offer so much more than this, and yet, these messages often aren’t conveyed to the rest of the business.
Why You Should Build Your Credibility (and How to Do It!)
To gain credibility, procurement must be seen as a problem-solver and work hard on building relationships with internal and external stakeholders.
Client Q&A with Solenis
This month, we caught up Jessica Leitgeb, Procurement Specialist - Indirect, at Solenis to find out what’s going on in her world of procurement.