Grace, Author at Procurementexpress.com blog

Successful Budgeting Tips for Understanding the Financial Big Picture

By Grace
on Dec 02, 2019
in Budget

Most managers can agree: you can’t improve what you don’t measure, particularly when it comes to your company’s finances. While budgets might not be the most glamorous topic, they are often the hidden hero behind a company’s greatest successes. Budgets play a critical role in helping managers make smart decisions about spending and allocating resources, and they serve as a way to set targets and measure performance.

All About Purchase Order Financing

By Grace
on Nov 18, 2019
in Best Practices

Purchase order financing, or factoring, is a funding method for companies that don’t have the cash flow needed to purchase inventory required to complete orders for their customers.

What to Know About Procurement Compliance

By Grace
on Nov 04, 2019
in Best Practices

Procurement compliance involves adhering to protocols for the share of company spend that procurement is supposed to control—in other words, it’s the percentage of purchasing that is contracted and approved based on an established set of guidelines.

What is Spend Culture and How Does it Impact Your Bottom Line?

By Grace
on Oct 07, 2019
in Budget

If you’re wondering what spend culture is, you’re probably assuming it’s just another buzzword from the corporate world. And that may very well be true, but the concept is an important one nonetheless.

Risk Management: Planning for an Uncertain Future

By Grace
on Sep 30, 2019
in Procurement Strategy

The future is always uncertain — but what really counts is figuring out just how uncertain it is. Put another way, what matters most is accurately assessing all possible risks coming at you from all angles.

A Short Guide to Project Management Procurement

By Grace
on Sep 23, 2019
in Best Practices

Most larger organizations have a procurement team that handles general purchasing duties. If you’re a project manager, your role may involve working closely with procurement—though often, procurement project management is a collaborative effort involving multiple team members. The PM might work with procurement, the project team, engineers, and others to come up with a plan, find vendors, and control procurements.

How to Improve Your Indirect Spend Management Strategy

By Grace
on Sep 16, 2019
in Supplier Relations

Procurement managers are pros when it comes to negotiating deals down to the penny, working closely with suppliers to secure terms that place them at a strategic advantage.

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