Maintaining relationships with multiple vendors can be tricky, especially when you have different vendors servicing different locations. There are several key benefits to consolidating your suppliers that will make purchasing less complex.
OMNIA Partners, Private Sector celebrates International Women's Day 2019, annually recognized on March 8th! We asked a few of our esteemed female colleagues and supplier partners what it means to be a working woman in 2019. They shared empowering advice, thoughts, and motivations. Share YOUR advice with OMNIA Partners throughout the month of March with the hashtags: #BalanceforBetter and #OMNIAPartnersPrivate
Women in the workforce are not only gaining ground in 'nontraditional' roles, but are also more educated - they are poised to extend their footprint across the entire U.S. Labor force. Understand the implications of the narrowing gender gap with these key statistics from the United States Department of Labor.
Developing alignment with your internal stakeholders can be difficult, take a lot of coordination and be complex. Stakeholders tend to think procurement is not focused on finding the right solution with a partner they can trust, but rather focused only on expense management.
These 6 questions will help procurement take the lead in starting the conversation.
Ara Arslanian was named a 2019 Pro to Know by Supply and Demand Chain Executive for the second year in a row.
Out with the old, in with the new year and challenges. How can procurement leaders solve for better spending in 2019? Read on!
Procurement is being tasked with achieving a greater ROI despite a smaller headcount. This challenge is further compounded by the fact that many companies are not entirely clear on how to attack their spend cube to achieve greater spend under management or compliance goals, particularly in decentralized environments.
Dustin Cochran was named a 2019 Pro to Know by Supply and Demand Chain Executive for the second time.
“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.
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.”
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.
Why the disconnect?