For many companies, controlling spending is one of the biggest challenges they deal with day to day.
Procurement departments are misunderstood.
Effective procurement depends on planning, design, execution, and control over the million moving parts in the supply chain. Not to mention risk mitigation, in-depth market knowledge, and striking the perfect balance of power with suppliers. Continue Reading
Traditionally, procurement is considered a function that operates independently, slashing costs where possible. While reducing spend is a big part of the job, today’s procurement professionals are strategic players in a cross-departmental push toward long-term success. Continue Reading
Whether you’re just starting out or running an established operation, odds aren’t in your favor. Over 70% of small businesses fail before reaching their 10th birthday.
Businesses fail for all sorts of reasons. In the beginning, getting beyond the startup phase is no small feat. Businesses face cash-flow problems or fail because of poor budget planning. Companies succumb to stronger competitors and customers have no incentive to remain loyal.