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What is Strategic Procurement, and How Can Cooperative Purchasing Help?

American City & Country

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 strategic sourcing.

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Modernizing Public Infrastructure: The Power of Strategic Procurement

The Procurement ClassRoom

Ensure inclusivity by lowering barriers for small and medium enterprises (SMEs) to compete in procurement. In the context of digital infrastructure, procurement decisions extend beyond purchasing hardware and software. Smart Contracts : Self-executing contracts automate payments and milestones, minimizing delays and disputes.

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3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation

ivalua

Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Procurement and supply chain teams will play a crucial role in making this vision a reality.

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How Certified Procurement Professionals Drive Efficiency in Supply Chain Management

The Procurement School

P rocurement, a critical component of supply chain management, is transforming, driven by the expertise of certified procurement professionals. Armed with a Public Procurement Certificate , these individuals bring a new level of efficiency and strategic insight to the field.

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Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

Finally, Ivalua’s eProcurement solution enables users to create purchase orders quickly and accurately while providing visibility into status updates along each step of the procurement process. This helps ensure your contracts remain favorable and that all stakeholders comply with the negotiated terms.

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Top 10 Foundational Steps To Building A Strong Procurement Strategy

The Procurement School

Look for trends, where the organization is buying similar commodities through independent solicitations or direct awards and entering discrete contracts and purchase orders for each. Identify Needs Business intelligence is based on historical purchases and therefore may not capture all existing and emerging needs.

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Leveraging Data Analytics in Procurement: Unlocking Efficiency and Strategic Value

Tracker Intelligence

Predictive Analytics: Uses advanced data analytics, such as machine learning, to predict future demand, analyze potential supply chain risks, and facilitate informed procurement decisions. Analytics can help organisations to identify opportunities for cost savings, improved contract compliance and better procurement strategies.