Top 5 Reasons You Need Procurement Tracking Software Once upon a time, companies had to manage purchasing departments and procurement management as though it was the Dark Ages. Everything was done by hand—there were no computer software programs to help, there were no emails, and there were no spreadsheets. Everything was written and manually filed, […]
What Are Spend Analysis Methods? Spend analysis is, quite simply, exactly what it sounds like—analyzing how much you’re spending and what you’re spending it on. Spend analysis and procurement roughly means the same things, but there is a much deeper methodology behind the analytics. Analyzing the spending habits of an entire purchasing and procurement department […]
Are Your RFPs Delivering the Cost Savings and Efficiencies Promised? RFPs that fail to deliver expected cost savings and/or efficiency gains frustrate procurement professionals and stakeholders. The issues typical revolve around insufficient planning or conflicting goals. As you read the points that have been shared with me, consider how these issues have impacted your organization. […]
How Optimization Gives Your Sourcing Team a Strategic Advantage – A Real Life Example You have probably heard about optimization and might be wondering if it will give your sourcing team a strategic advantage. Let me start with a brief recap on the excitement surrounding optimization from past posts. Big data, storage capacity and computing […]