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Procurement, are you Strategic or Operational?
Is Procurement Strategic or Operational? Although the focus on the Procurement function has increased in the last years, it was not until the 1980’s that organizations in competitive markets began to put attention into this area. And still today, Procurement is...
TCO: Common sense, common practice?
Introduction to TCO TCO stands for Total Cost of Ownership. It came into the spotlight in the 80s in the IT business. Managers discovered that supporting the equipment and software could cost between 5 to 8 times the purchase price. This concept was later introduced...
Category Management & its 4 main benefits
Definition The concept of category management is familiar to those in retail. It refers to the approach of grouping items within a shop environment. This concept started to be used by Procurement departments in the 90s. It became a way for companies to buy more...
The reasons why cost reduction should be the #1 priority for every business owner
Today we live in a very competitive environment. Only top businesses succeed to provide real value to customers and survive in the market. But how can we add more value than our competitors? Is it by having better marketing strategies? Is it by adding features our...