A rapidly changing workforce, integrated with the advent of the digital era, is shifting the way procurement operates. Younger generations entering the private sector workforce are proposing improvements to current processes that questions the status quo. For the first time in modern age, five generations are present at work –Traditionalists, Baby Boomers, Generation X, Millennials, and Gen Z.
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.
Group purchasing helps private organizations of all sizes spend strategically while delivering efficiencies. All procurement leaders strive to stay on top of procurement best practices and gain the most out of their resources.
These five tips will help you gain the most out of your group purchasing partnership.
OMNIA Partners Connections 2019 was an even bigger success than we could have fathomed. The connections made across our entire community were impactful, strategic, and our attendees (and the OMNIA Partners team) left with valuable insights.
Diversifying your spend and supplier portfolio can be financially sound strategy. It can be an impactful and strategic value-driver but it is often hard to speak to exactly why or what benefits an enterprise can take advantage of by purchasing in this way. We leaned on the experts at procurious to help us elaborate on this specific topic through a recent article they published.
How do you balance the demands and expectations of stakeholders in business? And how do you strike this balance while simultaneously growing and strengthening your brand? This is one of the biggest challenges companies face today.
"The grass is always greener on the other side." It turns out this common proverb even rings true in the debate over whether purchasing operations benefit from centralized versus decentralized management.
If your company isn’t set up to accommodate a centralized purchasing structure, you probably long for the leveraged pricing that your current decentralized approach may never achieve.
If your company has a centralized structure, you probably lament the compliance challenges you face. After all, you may have built relationships with local vendors and prefer to continue those over using a vendor that 'corporate' suggests.
In reality, both vantage points are correct: Both decentralized and centralized purchasing structures offer benefits and disadvantages. Here's why.
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.
Network with your purchasing peers to uncover immediate, strategic returns and increased performance.
Procurement often finds that they are working in a silo, disconnected from their stakeholders and lacking prudent visibility into overall company goals. When the opportunity to connect with others in the purchasing world arises, procurement can learn tools and best practices that will help guide them out of their silo so they can operate more efficiently, spend more strategically, increase returns and perform at a higher level.