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What is the Difference Between Procurement and Purchasing?

What is the Difference Between Procurement and Purchasing?

While the terms are often used interchangeably, procurement and purchasing are two different things.  We know it’s confusing, so we bring you this post! If you’re wondering, “what is the difference between procurement and purchasing”, hopefully, we’ll be able to help you stop scratching your head with what we’ve offered here. Procurement – the strategic… Continue Reading

Must-Have Attributes of Successful Procurement Leaders

Must-Have Attributes of Successful Procurement Leaders

Procurement is a highly specialized field, so it logically follows that there’s a specialized set of skills and attributes which comprise successful procurement leaders. Generic terms don’t adequately describe these attributes, so we’ve put together this list of must-have attributes of successful procurement leaders to clarify and inform. Change agent Strictly speaking, it’s not enough… Continue Reading

Key Differences: Strategic Sourcing vs. Traditional Purchasing

Key Differences: Strategic Sourcing vs. Traditional Purchasing

Strategic sourcing is the name of the game for procurement professionals.  It differs materially from traditional purchasing in that it works to intentionally create value and gain a competitive edge. Creating value isn’t all about cost-per-unit.  This is the traditional metric for building a supply chain.  But strategic sourcing acknowledges that there are other key… Continue Reading

Starting at the Source: Sustainability in Supply Chains

Starting at the Source: Sustainability in Supply Chains

There is no issue more compelling in our times than that of sustainability. This applies to supply chains directly.  Companies are increasingly called upon to respond to consumer demand by examining every corner of their operation, from paper and utility consumption to the supply chain.  Not doing that can lead to courting disapproval in the… Continue Reading

Key Strategies for Wrangling your Indirect Spend

Key Strategies for Wrangling your Indirect Spend

Even companies with the most cost-effective, efficient operations can struggle with indirect spend.  Often not centralized and left in the hands of a variety of players in disparate locations, it’s all over the place.   So, this post is dedicated to sharing some key strategies for wrangling your indirect spend to get it working for… Continue Reading

Dealing with Outsourcing Supplier Instability

Dealing with Outsourcing Supplier Instability

There’s no question that a certain amount of risk is to be expected when discussing suppliers.  Instability happens. But there’s no reason you can’t manage the potential for supplier instability effectively.   While you may not be able to eliminate all the risk inherent with respect to suppliers, you’ll certainly be able to mitigate it… Continue Reading

Non-Manufacturing Industries are Growing – and So Are Their Orders

Non-Manufacturing Industries are Growing – and So Are Their Orders

In a November analysis, Anthony Nieves (Chair of the Institute for Supply Management) wrote that Non-Manufacturing Industries had grown for 106 consecutive months, as of writing. That’s almost 9 years. And that growth is reasonably consistent across the industries represented in the sector, from Scientific and Technical Services to Education, to Healthcare.  And in terms… Continue Reading

Price Increases in Office Supplies in 2019

Price Increases in Office Supplies in 2019

In case you hadn’t noticed, the price of office supplies (paper in particular) is steadily rising.  Part of that trend is the impact of the recent US tariffs. This reality was readily seen in an almost 15% price increase for copy paper.   And part of the reason for price spikes for paper products is… Continue Reading

How to Save Millions in Indirect Spend

How to Save Millions in Indirect Spend

Managing your indirect spend can be challenging.  Accounting for between 15 and 20% of total spending for most companies, it’s a complex feat, indeed, taking in numerous categories of goods and services and a battalion of suppliers.  But you should know there are companies out there who are spending as much as 50% of total… Continue Reading

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