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Succeeding with New Procurement Strategies

This study guide provides information on the topics covered in the Procurement and Purchasing Management course, including category management, negotiation, and procurement performance and ethics.

22 Pages1163 Words29 Views
   

Added on  2023-01-05

About This Document

This presentation explores the importance of procurement strategies, the advantages of procurement software, and new trends in the procurement process. It discusses ways to save money and manage cash effectively in the procurement process. The presentation also covers the areas of sourcing information, procurement research, and the decrease in supplier bases. It concludes with the implementation of effective strategies in companies to meet the shifts in the global economy.

Succeeding with New Procurement Strategies

This study guide provides information on the topics covered in the Procurement and Purchasing Management course, including category management, negotiation, and procurement performance and ethics.

   Added on 2023-01-05

ShareRelated Documents
Succeeding with new procurement
strategies
Succeeding with New Procurement Strategies_1
It includes the finding, acquiring, buying goods and
services and it helps in ensuring to provide the
best prices to buyers, quality and quantity can be
compared with competitor’s.
Procurement software are used by the
professionals for managing the organizational
spending's. Effective procurement strategies helps
in achieving the objectives for the growth
Procurement strategies
Succeeding with New Procurement Strategies_2
Ease of administration
Long term cost savings
Easy monitoring of Spending
greater control of organization-wide
spending
Increase in productivity
Security
Flexibility and functionality
Saving time
Advantages of procurement
software
Succeeding with New Procurement Strategies_3
Effective procurement strategies are required
for delivering savings
Developing of commercial skills
Effective understanding of big data
Embrace ethics and sustainability
Managing risk
Digitization of supply chain
Artificial Intelligence
Procurement strategies
Succeeding with New Procurement Strategies_4
Aviation
Banking and financial services
Consulting
industrial manufacturing
media and entertainment
Logistics and transportation
Retail and leisure
Telecommunications
Implementation of procurement
process in different sectors
Succeeding with New Procurement Strategies_5
Process insourcing
Working capital management
Tightened spend management
Improved cross-functional relationship
Higher savings target
Contract reviews
Technology investments
Importance of procurement
processes
Succeeding with New Procurement Strategies_6

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