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Using SRM to Automate Category Management

Implementing category or commodity strategies enhances business efficiencies by optimizing processes. Organizations should maintain contractual relationships with suppliers and facilitate procurement change initiatives within categories to improve overall business performance. Does the following all-too-common scenario sound familiar to you? For example, the manufacturing team has a category manager who is doing a terrific job. She […]

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Going Beyond Traditional Spend Analytics to Identify Risks and Drive Change

PayPal co-founder Max Levchin once said, “The world is now awash in data and we can see consumers in dramatically clearer ways.” What Max did not mention is that thanks to all this data, companies can now see their suppliers in much clearer ways, too. This begs the question, is your procurement department making the

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Cost Efficiency- An Explanatory Guide and Implementation Strategies Strategy

Cost efficiency is a vital objective for companies aiming to maximize profits and sustain growth. It usually involves optimizing processes, reducing expenses, and improving productivity without compromising the quality of products or services. This blog post delves into cost efficiency in procurement. Specifically, we will highlight the strategies that should be considered to drive successful

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Supplier Relationship Management – A Comprehensive Guide to SRM Goals and Strategy

Supplier Relationship Management (SRM) is a systematic approach that helps in the evaluation of suppliers providing essential goods, materials, and services to your organization. It is a vital aspect of supply chain management that focuses on assessing each vendor’s strategic importance and measuring performance via supplier scorecards. Strategies to enhance supplier performance are then developed

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