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…

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…

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…

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…

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…