LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the completion of their most recent whitepaper on how spot buys help businesses achieve cost savings. Spot buys help businesses minimize the total expenditure, thereby helping them focus on the most valuable categories of spend. Moreover, spot buys also assist firms in generating new sales and in gaining additional market share by ensuring that their products and services are available to the buyers when they need them.
In today’s competitive business scenario, spot buys offer several untapped savings opportunities for businesses by helping them procure the right products and services at a reasonable price. Spot buys also provide a relatively fast and easier way to match their products with the sellers which in turn helps companies in reducing their procurement costs.
According to the procurement experts at SpendEdge, “Spot buying can be considered as a more ad-hoc and agile, and yet managed approach to buy products and services.”
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The following are a few tips to achieve cost savings
- Multiple to single – Organizations should consider the complete list of purchase orders while negotiating on purchases, as it helps them in achieving better profits.
- Rebates – Organizations should adopt the practice of setting thresholds on spend targets, this will benefit them by helping them save more on their annual spending.
- Untap competition – To be able to withstand the high competition in the market, the buyers should explore and devise new ways through which they can enhance their overall performance.
- To read more, download this whitepaper
Download the complete whitepaper on spot buys here:
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