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Do You Know Where Your Sourcing Resources Are Spending Their Time?

December 10, 2018 / by Ara Arslanian posted in Group Purchasing Organization, Procurement

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“Procurement leaders should learn where their sourcing employees spend the most time and whether it is worth the investment.”

The quote is from a 2017 study by The Hackett Group, which goes on to explain that, as procurement's role becomes increasingly strategic, sourcing teams already stretched thin face new demands and procurement challenges. According to that same report, “Are Strategic Sourcing Resources Providing the Best Return?”, the overall strategy of procurement needs to change, particularly around work selection and prioritization.

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The Top Seven Myths about Buying Groups

November 26, 2018 / by Dan Grant posted in Supply Chain Management, Procurement, Group Purchasing Organization

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Myths pervade our existence. Some people think you need to drink eight glasses of water every day. But in reality, you should just drink when you’re thirsty. Others think that if you shave your hair, it will grow back thicker and darker. Nope, that’s not actually something that happens.

The point is, when you fall victim to a myth, you might find yourself making some questionable decisions.

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What Is a Group Purchasing Organization and How Does One Work?

November 19, 2018 / by Ara Arslanian posted in Group Purchasing Organization, Procurement

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Group purchasing organizations (GPOs) primarily exist for one simple, yet compelling reason: to help businesses interested in buying similar products gain leverage through combined purchasing power.

A study by The Hackett Group defines a 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.”

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7 Indirect Spend Management Facts Every Procurement Professional Should Know

October 16, 2017 / by Ara Arslanian posted in Group Purchasing Organization, Procurement

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According to The Hackett Group, "a decision not to use group purchasing organizations (GPOs) for specific indirect spend categories is the same as leaving money on the table." But, research by ProcureCon Indirect West found that 58% of organizations haven’t yet investigated or aren’t using a GPO.

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Making Your Case: Five Components to Achieving Agreement

April 18, 2017 / by Wade Thomas posted in Group Purchasing Organization, Infographic, Procurement

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There are many times in our professional careers when we need to convince others to go along with our course of action. It could be convincing our superiors to follow our strategy, compelling your employees to take on a new project or persuading a vendor to make changes. During my own professional career, I have been on both sides of this equation: I have been convincing and I have been convinced. During these experiences, one thing was constant—the need to carefully construct a meaningful business case. So, how do you get started? In this post, I will discuss the five components for making a strong case and a set of questions to help you get there.

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Why Promoting Internal Alignment Is So Important for Procurement Today

April 12, 2017 / by Ara Arslanian posted in Group Purchasing Organization, Procurement

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As a procurement leader, you’re well aware of how procurement’s role is evolving within the organization. You’ve probably been involved in discussions with your team on how to adapt to changing expectations while overcoming these common procurement challenges.

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9 Reasons Suppliers Aren’t Participating in Your RFP

April 7, 2017 / by OMNIA Partners posted in Group Purchasing Organization, Procurement

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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.

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U.S. Healthcare: Where Do We Go from Here?

March 29, 2017 / by OMNIA Partners posted in Healthcare, Group Purchasing Organization

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“You have to address behavior or you cannot reduce costs.” That was the overarching sentiment at the inaugural Prime Advantage Healthcare Summit, held in Washington, D.C. The Summit brought together healthcare legislation architects and experts, members of previous presidential administrations and transition teams, as well as business leaders in manufacturing, all for an inside look into healthcare policy and solutions to subjugate rising costs.

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How a Buying Group Can Benefit Your Company

March 8, 2017 / by OMNIA Partners posted in Group Purchasing Organization

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Any well-run business is constantly looking for ways to improve. But the better you are at staying on top of this endeavor, the more it can sometimes seem like you’ve exhausted most of the good ideas. You can reach a point where you’ve done your due diligence and feel pretty confident that you’re making the best decisions on the options realistically available to your company. You can only get so lean, squeeze so much out of your resources, and fine-tune your processes so tightly.

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