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What is Cooperative Purchasing & How Does it Benefit Public Sector Procurement?

American City & Country

In today’s fast-paced and budget-conscious public sector environment, efficient procurement practices are more crucial than ever. By pooling demand, public sector entities can benefit from bulk buying discounts and negotiated price reductions.

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Modernizing Public Infrastructure: The Power of Strategic Procurement

The Procurement ClassRoom

Procurement as a Strategic Driver of Digital Transformation Public procurement wields immense influence over markets, technology adoption, and the direction of societal progress. Governments worldwide control vast budgets through procurement, giving them the power to: Drive innovation by demanding advanced solutions from vendors.

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Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

It also has an impact on procurement teams as they are responsible for managing supplier relationships, identifying opportunities for cost savings, and ensuring that goods and services are delivered on time and within budget.

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When should procurement be outsourced?

The Procurement School

Factors which influence outsourcing: Smaller public entities, in terms of budgets, typically do not fund staffing resources for procurement. Outsourcing could potentially save the cost of two staffing positions at a minimal cost of $200,000 per year, realizing a budget reduction of $1,000,000 in that same 5-year period.

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How to Relieve Labor Shortage Challenges with Vendor Managed Inventory

American City & Country

By: Lawson Products In today’s fast-paced world, efficient procurement is crucial for any entity. As procurement professionals, you are constantly balancing tight budgets, increasing demands, and the need to streamline operations. For agencies facing labor shortages or limited resources, VMI can be a game-changer.

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Webinar Recap: Procurement 2022, Big Trends and Predictions

ivalua

The world of work is changing even more so than ever before and we need to recalibrate recruitment and retention strategies. . #2. As operating budgets tighten, restrictive spending will pressure businesses to focus on savings and creative alternatives. . Inflation will Continue to rise in 2022. What can we expect in 2022?

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The risks of vendor-paid eProcurement

Bonfire

The pandemic put a strain on already tight public sector budgets and demand for new projects only continues to climb. But if those organizations didn’t have a line in the budget for procurement technology, they may have struggled to cover the cost of a new or upgraded eProcurement system. “So And for good reason.