“External procurement spending is the single largest cost element for most companies and a crucial component of their value chains. But many companies are failing to realize the powerful benefits that procurement can bring,” according to a new study by A.T. Kearney. READ MORE at Supply Chain Management Review
A company’s procurement decisions can contribute to poverty alleviation and inclusive growth around the world. Patrick Burnson examines how a new group, The Global Impact Sourcing Challenge, is the first business network to specifically focus on escalating impact sourcing as a way to increase employment and career development opportunities for disadvantaged workers. READ MORE at Supply [...]
Procurement is buffeted by the headwinds of market disruption: tariffs, cyberattacks and a tight labor market, says Marisa Brown, APQC. “Two winds of change have combined to create a perfect storm around the procurement function.” Brown believes that procurement can and must act as a strategic business partner by driving process improvements, cost savings and [...]
It’s time to move beyond calculating savings to creating a valuable impact. “The procurement industry has long assumed that spend cubes are vitally important and that not having one is heresy. Making matters worse, spend cubes have become axiomatic to procurement analytics,” says authors Elouise Epstein, Stephen Easton and TZ Shen from A.T. Kearney. In this [...]
