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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.
By ensuring that the right goods and services are purchased at the right price and delivered on time, procurement can help to ensure that a company or organization achieves its goals. Developing and executing category strategies is critical to effective strategicsourcing.
There isn’t a place for procurement and its stakeholders to build solicitations and RFPs collaboratively, no place for suppliers to see your solicitations or submit bids, no support for sealed bids, no bid evaluation tools, and no integrated way to track internal and external communication that may be needed later to support a purchasing decision.
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.
Director StrategicSourcing Digital & Functional Transformation, . Sourcing Optimization – How to rethink sourcing strategy for better product efficiency, Borgwarner. Measuring eProcurement Success: A Q&A with the State of Ohio’s Andrew Cochran.
With Ivalua already positioned as a Leader in the latest Gartner Magic Quadrant for StrategicSourcing Application Suites, Ivalua is now recognized as a Leader by Gartner in two Magic Quadrants citing the Source-to-Pay space. Procure-to-Pay (P2P) suites include both eprocurement and einvoicing capabilities. Gartner Inc.,
With Ivalua already positioned as a Leader in the latest Gartner Magic Quadrant for StrategicSourcing Application Suites, Ivalua is now recognized as a Leader by Gartner in two Magic Quadrants citing the Source-to-Pay space. Procure-to-Pay (P2P) suites include both eprocurement and einvoicing capabilities. Gartner Inc.,
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 ).
If you are getting started, you are likely looking to start with technology to address a specific process ( StrategicSourcing or P2P for example). For advanced respondents looking to build a competitive advantage, the top obstacles are integration of S2P tools followed by Procurement’s change resistance (13%). Plan to avoid those.
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