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By working closely with suppliers, organizations can ensure quality, on-time deliveries, and mutually beneficial partnerships. Using a cooperative purchasing program ensures compliance with state and federal laws while reducing the risks associated with supplier management.
Following these principles will allow for public sector entities to make informed decisions which will drive competition and the most advantageous combination of cost, quality and sustainability. many Government departments and agencies use eProcurement platforms to publish contract opportunities , award decisions, and procurement processes.
Ivalua has always been dedicated to listening to its customers, which means finding partners with local market expertise and high-quality delivery. We are proud to have helped the majority of Nordic global companies to increase collaboration, improve riskmanagement and act more sustainable.
The next level of riskmanagement might include identifying and tracking subcontractors and second tier suppliers as well as general contractors/first tier suppliers. While eProcurement punchout catalogs are a popular solution, they only work in some categories of spend and are prone to compliance problems.
Today, they are tackling new priorities like riskmanagement, supplier compliance, actionable insights. The question is then How can Smart Procurement help the Modern CPO to be successful and manage today’s uncertainty? Traditionally, the CPO’s first priority was to ensure the optimization and reduction of costs.
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