In recent decades, US and EU markets have outsourced a lot of their production to lower cost centres in Asia. Now with the rampant rise in transportation costs (up approximately 500% in the US from a year ago[1]) and energy costs (oil prices are up by more than 65% since January[2] ), the entire supply …
The supply chain crisis: How procurement is key to future proofing our supply chains Read More »
It is understood that procurement innovation is vital to growth. In recent years, businesses have been working hard to reduce their costs to keep their companies going, while still maintaining customer satisfaction. As the economy begins to get back on its feet, organisations are repositioning their focus towards growth, which is heavily reliant on the …
Top Four Barriers to Procurement’s Contribution to Innovation Read More »
The first important point is knowing and understanding what KPIs are and why they are used. Procurement KPIs are a type of performance measurement tool that can be employed to evaluate and keep track of the efficiency and effectiveness of a company or organisation’s procurement management. They serve to enable, optimise and regulate spending, quality …
In order to remain successful in today’s modern business environment, it is crucial to not only know where your money is going, but that it is being used properly. Procurement reports and frequent process analysis will help to ensure resources are being distributed and managed appropriately; various types of procurement reports can be used to …