Looking for a place to squeeze efficiency gains from an established business model? Start your search here – with procurement management. Procurement management is a critical function in business operations,…
Imagine walking into a warehouse full of shelves. Each one is lined with products, but some items move quickly while others gather dust. Managing these inventory levels effectively can be…
There’s an old military adage made famous by U.S. Army General Omar Bradley: “Amateurs talk tactics and professionals talk logistics.” You can think of procurement the same way—it may not…
If you've ever tried predicting commodity prices, you know it’s a bit like forecasting the weather—unpredictable, volatile, and sometimes downright impossible. From oil and gas to precious metals and agricultural…
Ever wonder what it really costs to produce your company’s products? More importantly, how much of that cost is tied to overhead? Welcome to the world of absorption costing, also…
Imagine you're on a ship navigating stormy waters. The weather is unpredictable, and while you can't control the storm, you can certainly prepare for it. That’s essentially what hedging is…
As an industry vital to societal and human-level well being, the importance of healthcare cost management – without compromising care quality itself – cannot be overstated. Hospital Group Purchasing Organizations…
In an increasingly dynamic and ethically-conscious business environment, embracing supplier diversity is not just a nod to inclusivity, but a strategic decision that propels innovation, market expansion, and resilience. Many…
The C-suite posts of today’s corporate environment are in many ways different than they once were. As a case in point, just look at the increasingly-important Chief Procurement Officer (CPO)…
Business today takes place in an environmentally conscious and cost-competitive landscape, and as a result, mastering energy procurement strategies has become more than a necessity—it's a strategic advantage. Energy procurement…