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billion in costs through categorymanagement in fiscal 2024, nearly 29% above their goal for the year. And while no one would say government purchasing has exactly become simple in the intervening 10 years, categorymanagement and best-in-class contracting have done their share of work toward making things better.
Vishal Patel and Peter Hunt delivered their session ‘Creating Value with StrategicSourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to categorymanagement and strategicsourcing.
As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. Create speed and transparency. Making processes transparent enables everyone along the supply chain to react quickly.
Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Create speed and transparency. They see the value proposition,” Kunnummal said.
Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Create speed and transparency. They see the value proposition,” Kunnummal said.
While there are many similarities, the nuances of public legislation and free trade requirements create a procurement environment that is more regulated, demands a greater level of transparency, and requires vigilance to stay on top of the constantly changing landscape. where do public sector procurement rules come from?
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