LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the completion of their most recent whitepaper on tips for impactful procurement functions. Organizations today are increasingly emphasizing on developing a blended workforce, which includes recognizing the value of full-time procurement resources, skilled contractors, procurement service providers, and group purchasing organizations.
Moreover, as the procurement functions continue to expand their influence on various factors across the supply chain network, it is often met with significant challenges related to its technology, processes, metrics, and talent management. Such challenges need to be addressed efficiently by companies by adopting the best practices in procurement.
In today’s competitive business scenario, achieving procurement excellence is a major concern for organizations across various industries. In order to attain procurement excellence companies must avoid the common pitfalls of a one-size-fits-all approach and must instead align their procurement’s structure to enterprise-specific goals. Moreover, it also helps them seek customized solutions to enhance business efficiency.
According to the procurement experts at SpendEdge, “Companies must align their procurement’s structure to enterprise-specific goals and seek customized solutions that will enable ongoing success.”
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Tips for impactful procurement:
- Take a balanced approach to technology – High investments in technology require a balanced approach, as analytics is virtually useless if the end user cannot interpret the data.
- Reframe procurement’s involvement – It is essential to reframe the procurement functions throughout the implementation phase to deliver savings that impact the bottom-line.
- Seek alternative solutions – Procurement teams must leverage innovative tools and seek alternative solutions that help them capture the function’s influence on business priorities.
- To read more, download this whitepaper
Download the complete whitepaper on ‘5 Pro Tips for Impactful Procurement’ here:
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.