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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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Become a Master at Sourcing and Tendering

Sourcing and tendering

In the supply chain business, newbies tend to think sourcing and procurement are the same. However, that assumption isn’t quite right.

Procurement is the process of the getting the goods and services your company needs to fulfil its intended business model, while sourcing is locating said goods and services. Continue Reading