Browse Category: Budget

The Cost Iceberg

Cost iceberg

There’s this concept called the Cost Iceberg, which refers to the idea that like an iceberg, the total cost of an order might not be evident at first glance.

The iceberg is an oft-used visual metaphor, especially in the realm of spending.

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Reining in Your Procurement Budget

Procurement budget

Budgeting is, of course, one of the most critical aspects of running any business. Albeit, maybe not the most glamorous. A budget tells us what we can and can’t afford—and serves to inform our purchasing strategy. While a budget can warn us when finances spiral out of control, they can’t prevent us from buying anything.

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