The ability to analyze spend is critical to identifying opportunities, ensuring compliance, managing suppliers, measuring savings, and understanding trends. However, without the correct data, accurate spend analysis is difficult or impossible.
In procurement, category management means organizing purchases into units that match distinct categories of suppliers (rather than according to internal needs and processes), and then aligning management of those categories to the organization’s key objectives. With category management, organizations can pursue distinct strategies that match the realities of each category,...
Today’s procurement departments have many priorities to ensure they are contributing to the profitability of their enterprise. For the 100+ procurement leaders recently surveyed for a Spend Matters report, the top priority is to reduce tail spend.
Business Prime Shipping is now available to Amazon Business customers.
Amazon Business has worked closely with leading cloud-based spend management provider Coupa to create Coupa Open Buy with Amazon Business.
Research on the behavioral economics considers the role of unconscious, emotional and instinctive factors in decision making. If procurement professionals, employees and suppliers are not acting out of purely rational motives, what does this mean for purchasing?
We are excited to announce that Amazon Business is now available at Amazon Japan (www.amazon.co.jp/business) and Amazon India (www.amazon.in/business). We are now live in five countries, as these new countries join Amazon Business in the United States, Germany, and the United Kingdom. In each country, Amazon Business helps business customers...
Purchasing for such items is already decentralized; empowering employees with buying authority can seem counterintuitive just when procurement is making inroads into consolidation.
Extensive use of P-Cards can limit companies’ ability to understand purchasing behavior resulting in missed opportunities for consolidation and real cost savings. This is because P-Card statement data often lacks crucial information that guides organizational spend.
The mandate of today’s procurement department is evolving, but the core mission remains the same: reduce costs and increase value. Yet not all organizations are equally successful in this regard.