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Cutting costs has become a main priority in the business world over the past decade. With this increasing emphasis on reducing spend, procurement has stepped into center stage as a center for innovation.
From reworking inefficient processes to opening up to new suppliers, there is vast potential for value creation in procurement. Purchasing is one department that should not remain static; the organization as a whole benefits when procurement is not afraid to break from habit.
Is your procurement function working up to its potential? This CFO eBook will show you how to lead procurement in such a way that will create value for your organization.
Topics covered in Strategies for Spend Optimization include:
-How even small businesses can optimize spend by bundling purchases creatively;
-The importance of a rational approval chain and what to do if processes are broken;
-Inter-departmental collaboration as the key to strategic procurement;
-Hiring the right talent to elevate procurement to the world-class level;
-Why joining the right supplier networks is essential to building supplier-buyer relationships;
-Investing in spend-management software as a means for future saving.