Remove Contract Management Remove Goods & Services Remove Procurement Strategies
article thumbnail

Navigating the 5 Steps of the Procurement Journey Part 1

The Procurement School

These steps may not apply to every procurement but once completed they will inform the procurement strategy which then leads to development of procurement document. Needs analysis ensures an accurate understanding of the goods / services being procured.

article thumbnail

What’s the Difference Between Direct vs Indirect Procurement?

ivalua

Capturing Value occurs when a contract has been established that governs the responsibilities and obligations of both supplier and buyer, and well as when the organization has the right Procure-to-Pay processes in place to ensure compliance to those agreements, goods, services and prices. . appeared first on Ivalua.

article thumbnail

Let’s Get Digital: Introducing your Source-to-Pay Guide

ivalua

The last phase of the process, also known as Procure-to-Pay includes the ordering of goods/services, receiving of these, invoicing and payment to suppliers. Contract Management: The piece that connects the upstream and the downstream, where value starts being captured.