How to Identify Savings Opportunities: Transaction Costs
Procurement teams continuously focus on minimizing transaction costs and costs related to the purchase-to-pay (P2P) process. Although the trend is moving towards automated and self-guided P2P processes, there still might be some opportunities to explore.
Manufacturing: Solving 4 Major Challenges for Procurement
Manufacturing companies of all types face several unique procurement challenges. With a dated spend management solution (or no solution in place at all!), managing these challenges can be very difficult.
There are several procurement levers you can utilize to drive cost reductions. Bundling, or consolidating spend, is one of them. But how do you use procurement analytics to identify bundling opportunities?