| Publisher | ICG Commerce | ||
|---|---|---|---|
| Format | 85.7KB PDF | Date added | 23 Jun 2004 |
| Topics | Procurement and Sourcing, Procurement - Purchasing | ||
| Downloads | 172 | ||
To extract the maximum value from procurement, companies need to understand their spend, select the best approach to source and procure each set of goods and services, and continuously monitor performance. By focusing on these steps, companies can create the highest overall return with the greatest immediate benefit. Companies often skip the spend analysis step and start with the familiar, neglecting potentially large areas of cost reductions. Today's sourcing and procurement solutions can help companies begin saving in a matter of months, providing significant early returns that can fund longer term initiatives.
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