Managing Your Spend

Topics:
Strategy Formulation
Tags:
Business Operations,
Inbound Logistics,
Procurement,
Purchasing & Procurement,
Strategic Sourcing
Source:
Inbound Logistics

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Overview: New strategies, reengineering, and powerful technology have enabled companies to revamp sourcing and procurement. With significant benefits such as these within reach, it is no wonder that companies increasingly try to build core competence around spend management, aggressively pursuing savings that can be realized by more effectively managing their spend. Today's flat revenue numbers are increasing the urgency to do so. Spend management encompasses the full scope of procurement, including sourcing, analysis, procurement, and payment. While some companies develop strategic sourcing capabilities, and others zero in on the procurement-processing step, integrating the entire purchasing package is a key to breakthrough achievements.

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Format: HTML | Date: Dec 2002 | Pages: 1

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