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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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How to Consistently Create High-Performing Supplier Contracts

December 3, 2018 / by Guest Contributor posted in Procurement, Leadership, Supplier Relationship

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Most companies say that measuring supplier performance is critical or at least highly important to success. Enterprises simply aren't sustainable without competent, dependable suppliers.

Supplier performance stems from successful relationships. And those relationships develop through effective communication, in addition to well-defined supplier contract agreements.

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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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Protecting Workers and the Bottom Line in Fall & Winter Weather [Gallery]

November 16, 2017 / by Matt Narens posted in Facilities, Industrial Supplies and MRO, Fastenal, Infographic, Procurement

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Each season provides unique hazards and safety risks to workers and facilities alike. Previously we discussed the extreme risks tied to heat stress and its affect on worker productivity, but as the colder weather blows in so do new and unexpected risks, hazards, and necessary precautions.

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Why Millennials are Tailor-Made for Procurement

October 31, 2017 / by Kris Lindahl posted in Procurement

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Millennials, the group of individuals born between the year 1980 and 1995, are estimated to make up 50 percent of the total workforce by the year 2020. However, much has been said and written about them, most of it indicating how they are lazy, entitled, pampered, self-involved and unwilling to stay on a job for more than a few years. Such facts are a terrifying prospect for hiring managers who fear that the future workforce is likely to be troublesome for them.

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Fleet Management: An Interview with the Experts

October 19, 2017 / by Katie Virtue posted in Travel Management, Car Rental, National Car Rental and Enterprise Rent-A-Car, Procurement

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When thinking about your car rental program and provider, does fleet management come to mind as a major consideration? If it doesn’t, then you are not alone. It’s a topic I bring up a lot when talking about car rental with new CU members, so I wanted to take a few minutes to tell you why fleet management should be important to you too.

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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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How Technology Is Powering Procurement Forward

September 14, 2017 / by Sonda Sahley posted in Procurement

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There’s no doubt new technology is catalyzing the evolution of procurement’s role in the enterprise. A recent article from Spend Matters notes that what sets world-class procurement organizations apart is the use of digital technology. Surprised? You shouldn’t be. Just like most other areas of your organization, leveraging technology enables procurement teams to stamp out inefficiency and save time.

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