In this second article of a 3-part series, Marijn Overvest, founder of Netherlands-based company, Procurement Tactics, continues to unpack a wealth of advice for industry professionals to use in their planning for 2024. We pick up at Number 4 of 11 trends in procurement, predicted by experts for the coming year. Trend 4. Procurement forecasting […]
Procurement Trends for 2024 According to Experts Read More »
The acronym VUCA has been around for a while and is particularly relevant to those of us who are aiming to survive and thrive in the procurement world. Discussing this at the Smart Procurement World Indaba 2022 were panel members Deon Mocke, Chief Procurement Officer AVI Ltd; Melita Ntsane, Head of Procurement, CBRE; and Jeannine
VUCA – what does it mean for procurement? Read More »
Where are you on your digital journey, and what barriers do you need to overcome within your organisations? Lubos Libiak, Customer & Delivery Executive at Cirtuo in the Czech Republic, shares with SmartProcurement his concern that many organisations have the budgets available, yet they’re still unable to advance on their digital journey. Businesses in Africa
Obstacles on the road to procurement digitisation Read More »
By Kelly Barner, Owner and Editor, Buyers Meeting Point “Direct and indirect spend management is not the same thing, nor should they be treated as such. Anyone who tries to convince you otherwise is focusing on simple document transactions.” – Jennifer Ruscelle Petersen, Global Head of Advocacy, SAP Intelligent Spend & Business Network Direct spending
When managing direct spend, the difference is in the details Read More »
By Heta Pirttijärvi, Business Development Manager, Sievo In this article, we will look at some of the effects that COVID-19 has had on business spend based on anonymised enterprise data. 2020. We all know that it was an eventful year, disrupting many things as we know it. There have been enough Internet posts about how
Year spend 2020: procurement benchmarks since the COVID-19 pandemic Read More »
By Erin McFarlane, Vice President: Services, Fairmarkit If you have recently joined an organisation or moved into a new role that is directly related to procurement, it can be challenging to know where to start. Even if you have been in the role for a while, the whirlwind of daily activity can distract you from
Top five spend analytics measures for procurement managers Read More »
All sorts of spend analytics technology is available – but how do you best translate this data into constructive action? Procurious spoke to Kirk Poucher, Managing Director of SpendHQ. We all know that spend analytics is a must-have these days. There is a wide variety of procurement technologies available but, despite all of these solutions
3 reasons why focussing on spend analytics matters Read More »
A little innovation never hurt anyone. But whilst Maverick Spend may cause us to re-evaluate our processes, it can wreak havoc and cause long-lasting damage. Georg Roesch, Senior Manager at JAGGAER, outlines five ways you can prevent it from happening and keep it under control.
5 tips to help prevent and control maverick spend Read More »
By Erica Bosio (Program Manager of the Growth Analytics, Development Economics Vice Presidency at the World Bank) and Simeon Djankov (Director, World Development Report 2019) Public procurement — the process by which governments purchase goods, services and works from the private sector — amounted to $11 trillion out of global GDP of nearly $90 trillion
Global GDP: How large is public procurement? Read More »
While it is true that you often have to spend money to make money, optimising every cent by tapping into the power of spend analysis creates significant savings opportunities compared with flying blind and having no visibility on your spend. To get an optimal return on your investment, it pays to understand and implement effective
How procurement spend analysis can cut costs Read More »
