eBook Must-Reads: Our 2025 Tail Spend Management Guide
Managing tail spend is vital for any business looking to optimize its procurement operations. Tail spend refers to the small, non-contractual purchases that are often overlooked but can add up to a significant amount of a company’s overall spend. These purchases can include office supplies, minor equipment, or other low-value transactions. Despite their small size, […]
Top 3 Reasons to Focus on Tail Spend in 2025
Tail spend often flies under the radar in procurement strategies, but this overlooked category can hold the key to unlocking significant value. As organizations prepare for 2025, focusing on tail spend offers opportunities to improve efficiency, reduce costs, and create long-term competitive advantages. Here are the top three reasons why addressing tail spend should be […]
Kickstarting the New Year: Procurement Resolutions for Better Performance
Starting the new year with clear goals can lead to great success. This is true for procurement too. As 2025 begins, setting New Year’s resolutions for procurement can help companies achieve better performance. These resolutions focus on key areas that can bring big improvements. One important area is embracing digital tools and automation. Using digital […]
Year-End Review: Key Procurement Trends and Insights from 2024
The world of procurement has seen many changes in 2024. Companies have adopted new methods and technologies to stay competitive. These changes help businesses save money, become more efficient, and achieve their goals. Understanding these trends is important for anyone involved in procurement. One key trend is the rise of digital procurement. Digital tools and […]
Using Spend Analysis to Identify and Eliminate Waste
Companies need to manage their spending carefully to stay successful and grow. Spend analysis is a powerful tool that helps businesses understand where their money is going. By examining spending patterns, companies can spot areas where money is wasted. This process leads to better decisions and more efficient use of resources. Focusing on spending analysis […]
The Role of Procurement in Achieving Corporate Goals
Procurement plays a crucial role in achieving corporate goals. It is more than just buying goods and services for a company. It involves strategies that help the business thrive. By aligning procurement with business goals, companies can operate more efficiently and boost their performance. In summary, procurement impacts many areas of a business. By focusing […]
Building a Supplier Diversity Program That Works
Supplier diversity means working with suppliers from different backgrounds. This includes businesses owned by women, minorities, veterans, and people with disabilities. A supplier diversity program helps make sure your company supports these diverse suppliers. Doing this, you help create a fairer business world and boost the economy. Understanding the Importance of Supplier Diversity Supplier diversity […]
Contingency Planning: Ensuring Procurement Continuity in Emergencies
Emergencies can happen anytime, and they often disrupt the usual supply chains. Whether it’s a natural disaster, a global pandemic, or a sudden supplier failure, businesses must be prepared. One crucial way to stay ready is to have a contingency procurement plan. This helps ensure your business can still get the needed materials and services, […]
Seasonal Procurement Strategies for the Upcoming Holiday Season
The holiday season is the busiest time of the year for many businesses. It is essential to have solid procurement strategies to meet the surge in demand. Planning ahead can make the difference between a profitable season and one filled with missed opportunities and stock shortages. The right approach will help ensure that you have […]
Adapting Procurement to New Health and Safety Regulations
Businesses face new health and safety regulations every year. Adapting procurement processes to these regulations is crucial for maintaining compliance and ensuring the safety of employees and customers. New rules can seem overwhelming, but understanding and integrating them into your procurement strategy is essential. These regulations often come from government agencies and can cover a […]