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Zero-based budgeting - how procurement can play their part
June 18, 2021 at 10:27 AM
In recent times, aspects of zero-based budgeting have made an appearance in the spend planning practices of many companies, but this past year has made the case for adopting the concept much stronger.
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How procurement can help establish resilient supplier networks
June 11, 2021 at 11:11 AM
During the past year, the need for more resilient supplier networks has steadily risen to the top of every CPO's importance list.
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Supply chain leaders lack data and tech for cost-saving decisions
June 1, 2021 at 10:44 AM
In early 2021, IHS Markit conducted a survey with procurement professionals under the title 2021 Supply Chain Insights Global Survey , revealing that "supply chain professionals often lack the tools, data, and platforms needed to diversify their supply chains and optimise their processes."
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Procurement investment on the rise
May 21, 2021 at 8:00 AM
In April 2021, Forrester Consulting conducted a study commissioned by Ivalua with 454 finance, procurement, and supply chain professionals in which they revealed that 50% of organisations are planning to increase their investments in procurement, and 85% recognise that procurement plays a key role in revenue growth.
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Where does the ownership of tail spend sit?
May 14, 2021 at 2:14 PM
Most procurement professionals are aware that tail spend has the potential to hold a lot of hidden value but until it can be managed effectively, extracting that value is difficult. What may also hamper the task of bringing maverick spend to heal, is a failure to understand where the responsibility to do so lies.
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Why transactional data shouldnt just be reserved for strategic planning
May 7, 2021 at 2:00 PM
One of the most important tools for procurement professionals when planning for strategic purchasing decisions is having the ability to access solid and reliable data. But when it comes to making the same decisions with non-strategic and lower-value spend in the tail, oftentimes, swathes of transactional data flows through the process going uncaptured and under-utilised.
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For procurement leaders - agility maybe more important than costs
April 30, 2021 at 10:18 AM
In early March 2020, Wakefield Research led a survey for Tealbook-Research with procurement leaders in which 96% of them agreed that focusing on agility is more important than cost savings for their companies’ bottom line in the long term.
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Behind every good process should be good tech
April 21, 2021 at 3:43 PM
For many companies, managing tail spend is a big challenge - throw small teams who are seperated geographically into the mix and the challenge may seem too big to tackle.
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When tail spend planning pays off
April 9, 2021 at 10:00 AM
As we’ve shown through this blog series, getting the process right is key to unlocking the enormous potential of unmanaged spend.
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