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It is an important part of the decision-making process and requires careful consideration of a wide range of factors, such as cost, quality, reliability, and delivery times. Developing and executing category strategies is critical to effective strategicsourcing.
Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategicsourcing.
No support for strategicsourcing: ERP systems don‘t offer support for strategicsourcing, which is critical for optimizing spend and driving savings. They’re not tied in to co-op and piggyback sourcing opportunities, and they can’t bring all your sourcing data together to help you make better purchasing decisions.
Our panelists included: Hend Salem , Manager of StrategicSourcing – Non Clinical at The Ottawa Hospital Carol Izzio , Director of Procurement at Sheridan College Christine McParland , Director of Residence and Ancillary Services at St. Get eProcurement with compliance built-in. Everyone has to buy in.”
This month Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The first, authored by Duncan Jones and published on December 10, is The Forrester Wave™: eProcurement Platforms, Q4 2019 , which covers purchasing and invoicing (similar scope to Gartner’s P2P Suites Magic Quadrant ).
Last year Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The first, authored by Duncan Jones and published on December 10, is The Forrester Wave : eProcurement Platforms, Q4 2019 , which covers purchasing and invoicing (similar scope to Gartner’s P2P Suites Magic Quadrant ).
In that brief run-through, which covers just some of the key guidance, one important point may have struck you already. This is sensible advice, and really, it could apply to almost every organisation, type and category of Procurement I can imagine.
The Importance of Ambition. Leaders need to be more ambitious if they are to truly establish Procurement as a source of strategic value. If you are getting started, you are likely looking to start with technology to address a specific process ( StrategicSourcing or P2P for example). Just how can you do that?
Coming from the vendor side, I knew our eProcurement platform had the potential to transform sourcing and purchasing in the public sector. The very last project I worked on really opened my eyes to the promise of eProcurement. Driving impact with eProcurement. Reflecting on the journey.
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