To elaborate further on previous article, “Price focused Sourcing is bad for Business”, I have created a list of procurement hacks for realizing savings. 1) Audit invoices and purchase orders to identify unapproved vendor charges, price discrepancies, and unapproved purchases. 2) Audit vendor database to ensure accurate data, remove duplicate information and ensure vendor hasContinue reading “Simple Procurement Hacks to realize Savings”
Tag Archives: total cost method
Price focused Sourcing is bad for business
We live in a capitalist society. It’s understandable that companies want the best prices on supplies and materials to make their products or provide a service. When your procurement team is only motivated by price instead of the total cost, quality, delivery and logistics is lost. For example, your Procurement Manager may think, “Hey, weContinue reading “Price focused Sourcing is bad for business”
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