Best practices

6 Best Practices for Procurement Teams

Best practices • Feb 10, 2023 • 3 min read

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Best practices

6 Best Practices for Procurement Teams

Feb 10, 2023 • 3 min read

6 Best Practices for Procurement Teams feature image
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6 Best Practices for Procurement Teams

Feb 10, 20233 min read

Procurement best practices such as strategic sourcing, spend analysis, supplier management, automation, collaboration, and compliance can reduce costs, improve financial performance, and mitigate supplier risks for organizations. Implementing these strategies can streamline procurement processes and make informed purchasing decisions.

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5 Steps to Increase Efficiency for Procurement Teams

Feb 4, 20232 min read

Procurement teams can improve efficiency and reduce costs by adopting automation, data analysis, strategic sourcing and collaboration. Technology like procurement platforms can streamline processes and increase automation. Adopting these strategies can lead to cost reductions, improved supplier performance and increased revenue. Companies like Dell, Unilever, GE, and Nestle have seen success after implementing procurement platforms.

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9 Contract Manufacturing Best Practices to Ensure Success

Oct 16, 20224 min read

Success in contract manufacturing involves following best practices such as clear communication, thorough research of manufacturers, and strong partnerships. Choose the right partner with a proven track record and negotiate transparent pricing. Establish roles and responsibilities and regularly monitor performance while protecting intellectual property. Successful contract manufacturing companies focus on quality, customer service, and a well-established supply chain. External factors, such as market conditions and global events, can impact the success of contract manufacturers.

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9 Career Paths for Ambitious Young Procurement Professionals

Nov 21, 20223 min read

There are various career paths for a procurement executive, including Procurement Manager, Supply Chain Manager, Strategic Sourcing Manager, Category Manager, and more. Each role focuses on different aspects of procurement and supply chain management, providing opportunities for advancement and professional development. Continuously developing skills and seeking new opportunities is key for success in this field.

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10 Top-of-Mind Concerns of Strong Chief Procurement Officers

Nov 12, 20223 min read

CPOs face challenges in cost reduction, supplier management, risk management, sustainability, innovation, compliance, supply chain disruption, stakeholder management, technology adoption, and procurement process optimization. They must find ways to balance these challenges while leading the procurement function and improving efficiency and cost-effectiveness. A strong CPO must be agile, strategic, and innovative.

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Understanding the Different Roles in Procurement and How They Drive Business Success

Mar 20, 20232 mins

Procurement encompasses a diverse range of job roles, from analysts to Chief Procurement Officers (CPOs). Analysts collect data, specialists oversee the procurement process, managers lead teams, category managers focus on specific goods/services, and CPOs set strategy and manage suppliers. These roles work together to ensure efficient and effective acquisition of goods/services for organizations.



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