Why Fractional Procurement is the Future of Strategic Sourcing he Procurement Challenge for Businesses In today’s fast-paced business landscape, organizations need to optimize procurement strategies while controlling costs. However, not every company requires a full-time Chief Procurement Officer (CPO) or procurement team. This is where fractional procurement services come in. What is Fractional Procurement? Fractional […]
Key KPIs and Dashboards for a Procurement Department: A Comprehensive Guide In the realm of business, Key Performance Indicators (KPIs) are the masters of measuring effectiveness and efficiency. They are the foolproof tools that track progress towards strategic goals and objectives. In the context of a procurement department, these KPIs are even more critical. They […]
How Do You Evaluate and Compare the Total Cost of Ownership of Different Suppliers? Understanding the Total Cost of Ownership (TCO) of different suppliers is a critical aspect of strategic sourcing and procurement. It provides a holistic view of the costs associated with a supplier beyond the initial purchase price, encompassing all costs incurred throughout […]