Strategic sourcing is an approach to Supply Chain Management that analyses the total cost of ownership (TCO). Supply Chain is…
SIPOC stand for Suppliers, Input, Process, Outputs and Customers. In comprehensive process improvement, a SIPOC is a tool that captures…
As a procurement professional, we must know about the history of purchasing. Ancient tribes acquire goods through barter system and…
Spend Analysis is the process of analyzing current, previous and forecast future spending. It is a process of identifying, gathering,…
A recent research study indicates that the concept of drawing on the coordinated expertise of a group from different functional…
People use the terms interchangeably: Purchasing and ProcurementMany people use the terms purchasing and procurement interchangeably but despite their similarities,…
The Purchasing Process is a framework that outlines how procurement is controlled within an organization. Here are the steps to…