Category management is vital in strengthening your strategic procurement process. Originally designed as a project-based approach to managing the sourcing of goods and services, category management has grown to include: spend management and analysis, market intelligence, corporate reporting and governance. It is supported by the right people, tools and technology. Category management is the basis for delivering procurement value to organizations, beyond just negotiating better prices.
Without Maintenance, Repair, and Operating Supplies (MRO), any manufacturing business would grind to a halt. MRO usually refers to any product or service that is used to support production. Examples are:
As people begin to return to the office environment there is much talk about what the new work-life will be like. Employees may feel apprehensive: they want to experience interaction with others, but they also want to feel comfortable and safe.
Sourcing and contracting Human Resources (HR) services is a complex and challenging area and it is not getting any easier. The pandemic has had a big impact on how we work and how we staff our organizations. Employment regulations are also subject to constant change.
Group purchasing organizations (GPOs) are increasingly becoming more prevalent in the challenging procurement environment within the private sector. Traditionally, GPOs Have been associated more with the public sector and specific industry sectors such as healthcare and non-profits where they focus on volume consolidation to increase purchasing power on behalf of members.
One definition of a successful purchase is the right product or service, delivered in the right place, at the right time, of the right quality, for the right price. There is scope for failure in each one of these elements. Managing procurement risk means understanding what can go wrong and having plans in place to avoid unwanted outcomes. Many organizations are not fully aware of the many types of procurement risk they are exposed to and are therefore not ready when supply chain disaster strikes.
Today’s economic environment is always evolving, and you may be taking a closer look at how well you’ve been able to pivot to remain stable and successful in your industry. On top of adjusting to changes, there is extra pressure on finding new ways to reduce expenditure.
Not only can a group purchasing organization (GPO) help you with your #1 goal of cost-saving, but a GPO can also provide companies with purchasing benefits that would be challenging to receive on their own.
Modern and successful GPOs provide a wide range of benefits beyond savings.
⏰ Total Read Time: 5 minutes
Embracing the new business environment implications will help companies rise to the occasion and be a leader in longevity. By empowering companies to adopt change, leaders can increase agility and resilience, making any crisis disruption an opportunity for innovation - rather than an impediment to overcome. Whereas businesses hesitant to adopt new strategies, or avoiding change, are risking being left behind with diminishing returns. Enterprises looking for ways to simplify adoption, streamline processes, future-proof, and contain resource expenditures can look to their group purchasing organization (GPO) to help turn crisis into profit by implementing impactful change.
⏰ Total Read Time: 4 minutes
Disruption quickly, and often, dramatically alters the purchasing landscape. Enterprises nationwide are experiencing the impact this is taking on their human resource professionals. As the pandemic progresses, the HR function will be continually challenged with keeping workers safe, healthy and informed, in addition to their everyday performance duties. Soon - if not already- HR teams will face permanent changes such as: