Your business can rise or fall based on the relationships you build with your customers. But are you ignoring the other essential relationships…the ones with your suppliers?
Collaboration has become a key component for success in a business environment that is increasingly global. Collaboration leads to transparency into transactions and trust between stakeholders.
Using teams and technology to take culprit spend issues by the tail.
In Part One of this two-part blog series from our colleague Reggie Peterson, Director of Supply Programs at Corcentric, he explored the (considerable) list of challenges facing procurement in regards to controlling the tail-spending mavericks and rogues who cost companies significant amounts of money. In Part Two, he takes a closer look at another component of the problem —being “oversuppliered” — and digs into the measures and strategies available to get more spend under control.
Gain control over tail spend so it doesn’t “wag the dog” when it comes to your company’s profitability.
The internet and globalization have made today’s business environment more competitive than ever before. Increasing an organization’s revenues is not enough to achieve and maintain profitability; now every function within that organization must also account for every dollar spent. That can become a challenge for Procurement when it comes to indirect spend and an even bigger challenge when it comes to tail spend.