Did you know all group purchasing organizations (GPOs) are similar, but not exactly the same? At the core, GPOs are all united in wanting to help your organization succeed by saving time, money and resources, but some offer more extensive benefits.
It isn’t uncommon for procurement to have to purchase for several different departments within an organization. It’s hard to be an expert in all of the different product and service offerings available and also fully understand what your stakeholders need to be successful.
Choosing the right purchasing structure for your organization isn’t an easy, quick decision. It's important to look at all of your options and weigh the pros and cons. You may even find that a combination of two types is best suited for you and your organization.
Corporate travel has picked back up after a hiatus due to the pandemic. You might be wondering what this means for your organization or working to define current travel needs. Travel managers and procurement are in the perfect spot to work together to re-strategize and save time and money.
Procurement leaders are often expected to be experts at every category. There’s pressure to manage your company's complex spend cube, reduce risk and cut down on cost all with limited resources. While organizations are looking to increase savings, improve efficiencies in their supply chain and manage supplier risk, a group purchasing organization (GPO) can guide the processes to accomplish all of these goals and more.
Procurement teams are face to face with supply chain disruptions, often serving as the liaison providing product updates to end users. As you've heard and experienced, the global semiconductor chip shortage has impacted major components of everyday life and business, affecting vehicles, laptops, phones, credit cards, home appliances and other products that need a computer chip to operate. Not only a key part of electronic devices, these chips also power the factories where those devices are made. Without enough of them, companies have been forced to stall production, and when you combine high demand with limited supply, you’re paying more for those products.
Procurement, sourcing and supply chain professionals have limited bandwidth, especially when dealing with today’s economic challenges. Your team may be working to avoid flushing dollars down the drain due to inadequate systems to manage facilities and maintenance, repair and operations (MRO) spend.
Businesses in every industry rely on an efficient supply chain, and procurement, supply chain and sourcing leaders play a pivotal role in producing tools to mitigate risk and get immediate access to world-class solutions. With a growing list of responsibilities, your team is tasked with delivering reliable products and services on time, every time and at the best possible price.
Group purchasing enables you to discover new innovations and ideas that'll help your business succeed and remain competitive in the constantly evolving marketplace. With speed and confidence, this is an opportunity to save money in multiple points of the supply chain.
Procurement, sourcing and supply chain teams are instrumental to their companies and have proven to be a powerful force navigating some of the biggest challenges their businesses face in today’s market.
Those of you in these roles are masters of your craft and already achieving success through your strategic mindset at work. Right now you have an opportunity to make an even bigger impact at your company by simplifying and strengthening your process with the help of a group purchasing organization (GPO).