This will enable you to take full advantage of analytics, so you can get a clearer picture of where your spend is going, benchmark costs identify opportunities to leverage spend, and track and report on savings.
TIP 2
SEPARATE INDIRECT FROM DIRECT SPEND
By employing a hybrid approach where you centralize your indirect purchasing but retain the flexibility for business units to handle direct purchasing, you can realize rapid savings and enhance control over indirect spend without impacting supply chains.
TIP 3
DIGITIZE PROCUREMENT PROCESSES
Automation creates efficiencies across your entire organization empowering users through self-service purchasing from approved content.
TIP 4
KNOW YOUR SUPPLIERS
Aggregate spend with preferred suppliers who share your corporate values and offer the best deal.
TIP 5
MAKE SUSTAINABLE CHOICES
Procurement sustainability is about minimizing impact on the environment and making a positive impact on society by supporting local and diverse suppliers. Conscious purchasing reduces unnecessary business costs and complexity while supporting corporate and brand values.