Spend often represents a significant proportion of the costs for most companies. Our experience indicates that there is a large untapped potential in procurement, but also several challenges in how to realize it.
Through multiple procurement projects, we have participated in hundreds of negotiation meetings with suppliers, providing us valuable insight on how to ensure a successful negotiation. In this article, we share six practical tips on how to secure sustainable, long-term results from a negotiation.
Bundling is an important commercial lever to reduce procurement costs. In short, bundling refers to securing standardized contract terms with the same supplier across the business, or consolidating spend with one or fewer suppliers than the status quo.
The procurement profession is characterized by many different concepts and terminologies. Strategic procurement is one such term. Our experience indicates that there are some questions about what strategic procurement is and how this can help create value.
Many organizations talk about category management, yet relatively few have implemented this strategic approach to procurement. Implementing category management may seem challenging, but our experience suggests that a few, basic principles can take you a long way.
AutoStore signs agreement for the use of our spend management solution
We are delighted to welcome AutoStore as one of our newest customers. Following a procurement project, the company has now entered into a license agreement for the use of our digital solution for strategic procurement.