There are plenty of misconceptions about what joining a buying group is like. These misconceptions often mislead organizations and dissuade them from leveraging the benefits buying groups (or group purchasing organizations) can provide.
Negotiating Energy Supply Agreements: A Balancing Act For Even The Most Seasoned Procurement Professionals
Several aspects of energy agreements can easily trip up even the most seasoned procurement professionals. Unless you are aware of some key terms and slight verbiage adjustments that can drastically affect the price you pay on your bill, you could walk away thinking you secured a good deal – when the agreement tilts in the supplier's favor.
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.
As people return to the office, there is much talk about what the future of work will look like. Employees may feel apprehensive - they want to experience interaction with others, but they also want to feel comfortable and safe.
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.
Although car rental is a mature category, industry changes affecting rates, fees and technology cause procurement and travel to review their contracts every few years. The category is ripe with opportunities for increased cost savings and employee satisfaction, but there can be resistance to change. Employees get comfortable using the same provider and travel managers fall victim to the belief that all suppliers offer the same benefits.
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.
While a few lucky businesses haven’t been affected by labor shortages, most have been hit hard. Skilled labor has become more difficult to find and the “Great Resignation” means that employees are job-hopping to make a dollar or two more an hour. In the past, many companies have ramped up material handling by hiring more people—and, increasingly, that’s not an option.
So how can your facility keep up with the "Amazon effect" -- or pressure to compete with an Industry Goliath -- with limited resources and a smaller budget?
Modern procurement teams care about more than just cost savings. While finding opportunities for more efficient spending is critical, increasing procurement influence and becoming a strategic partner to the business are also top priorities. With this modern way of thinking, it is essential to take a more strategic approach and consider factors beyond price when making purchasing decisions.