“Procurement leaders should learn where their sourcing employees spend the most time and whether it is worth the investment,” states the latest study by The Hackett Group.
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.
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.
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.
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.
“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.
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.
Dustin Cochran is the Director of Member Development for Corporate United and was recently named a 2017 Pro to Know by Supply & Demand Chain Executive for his extensive procurement expertise and work in helping organizations achieve best-in-class spend management programs.
2017 Pro to Know Katie Virtue has been a part of Corporate United’s category management group for over six years, focused on carrying out Category Lifecycle Management efforts across Corporate United’s Travel offerings.