Scratching your head about how to improve your interdepartmental relationships? We went straight to the source.
For a procurement professional who’s perpetually overstretched, conducting a request for proposal (RFP) guarantees one thing, and it’s not better pricing. It’s time.
At the core, a traditional GPO provides value through three main elements: money, time and resources.
A recent study by The Hackett Group defines a group purchasing organization (GPO) as “an entity that is created to leverage the purchasing power of a group of businesses in order to obtain discounts from suppliers based on the collective buying power of its members.”
Group purchasing organizations (GPOs) come in many shapes and sizes. Before determining what kind of GPO would best fit your organization, you must first decide if a group purchasing organization is right for you.
To manage overhead costs associated with running the business, companies will often hire employees dedicated to ensuring that capital is spent efficiently. At its core, this is the role of a procurement department.
After you’ve come to the decision to achieve savings in your indirect procurement categories by working with a group purchasing organization (GPO), you come to the essential question:
Having internal customers is hard enough as it is; alleviate unnecessary stress by speaking their language.
We all want what we want for a reason. But do we really consider that reason during negotiations?