How to Manage the 4 Pillars of Global Procurement

Global procurement is the process of buying raw materials, products, or services from companies all around the world. Rather than keeping business locally, they are able to secure what they need at a better price point, thus enabling them to maximize their efficiency and boost their growth.  While global procurement may sound like a great […]

What Services Can A Procurement Company Offer?

Procurement companies are vital to the operations of many businesses around the world. Whether a procurement company secures goods or services for their contracted clients, these services are often what help keep businesses and supply chains running smoothly. Below we’ll take a look at the different services a procurement company can provide for companies.   […]

How to Reduce Procurement Costs

When trying to determine how to reduce your procurement costs, you have to look at the bigger picture. Remember, procurement is different from purchasing since it involves so much more than just making a purchase.  How to Reduce Procurement Costs Procurement costs are those costs that are associated with acquiring goods and services from external […]

What Is Supply Chain Management And Why Is It Important?

In order to have a successful growing business, you need to have a healthy supply chain. It is a major component in staying competitive with others in your industry. After all, anyone can have a supply chain to keep things up and running, but those with proper supply chain management are the ones that will […]

What Is The Difference Between Hazmat And Dangerous Goods?

Regardless of your industry, when it comes to shipping materials in the global market, there is a good chance that, at some point, you will encounter hazardous material or dangerous goods. And, when that time arrives, it is a good idea to understand the difference between the two as they will need to be handled […]

The Role of Purchasing in Outsourcing

Businesses find that the role of purchasing in outsourcing is an important one, for many different reasons. In today’s global marketplace, supply chains are expanding into global networks, making the sourcing of purchases a vital area for any successful business plan. Outsourcing of purchasing allows your business the access to experienced purchasing professionals, optimizing your […]

How AI and Machine Learning Impact Procurement

Successful product manufacturing at the best possible rate makes a business profitable. Good procurement techniques directly contribute to successful manufacturing. When it comes to procurement, one of the newest opportunities available today is artificial intelligence. With an ever-expanding future potential, AI allows the ability to simplify complex procurement problems by effectively using computer algorithms. AI […]