Cost

What Procurement Pros Need to Know About Trends in Marketing Spending for 2020

Posted: 11/20/2019 - 04:04
With the fourth quarter of 2019 now underway, many companies have already started developing their marketing plans for 2020. A major aspect of the planning process will be setting the overall marketing budget for next year and allocating the budget across marketing channels, tactics and other spending areas.
 
Ideally, marketing procurement professionals will be involved in the planning process and to participate effectively they will need to have a solid understanding of current marketing trends, including those relating to marketing spending.

Onshoring vs. Offshoring: 4 Indications the Tide is Turning in Manufacturing

Posted: 11/06/2019 - 07:18
Uncertainty over the future of the ongoing trade war between the U.S. and China continues to take its toll on supply chains worldwide. While some companies and manufacturers are setting their sights on alternative foreign factories, such as Vietnam and Thailand, others are looking to make parts closer to home. 
 

Software Surplus! Over-Subscription Could Be Costing Your Company Millions

Posted: 10/08/2019 - 02:11
Software Surplus! Over-Subscription Could Be Costing Your Company Millions
Sourcing professionals know that companies make significant investments in software to run and drive their businesses. They see first-hand how software subscription costs might run as high as hundreds of millions of dollars annually. Yes, the Office of the Chief Technology Officer and various business units collaborate to determine what software is needed, but typically it’s the procurement office that makes the purchase, and employees that use the software. Therein lies the problem.

The Shift to a Seller’s Market

Posted: 08/22/2019 - 06:49
Everyone is talking about change. Transformation. Millennials. Digital. Continuous Improvement. There are likely many more words that are tossed around to explain the change everyone is either experiencing or are being told we need to do. A lot of time and effort has been spent on transforming procurement – but what about the change occurring within your supply base? 
 

How Supplier Diversity is Working in the Real World

Posted: 07/10/2019 - 01:21
Supplier diversity has been an important topic on the corporate agenda for most of the past five decades. Formal supplier diversity programs began in the 1960s in response to government programs that were designed to expand economic opportunities for minority-owned businesses. Today, “diverse suppliers” encompass several additional types of business organizations, including:
 
  • Woman-owned business enterprises

Re-engineering a Corporate Real Estate Service Organization: Governance

Posted: 06/17/2019 - 04:27
Although these processes can take months – sometimes longer, the work does not end when the contract is signed or even when the services are successfully transitioned to the outsourced partner. You don’t simply hand over responsibility for the contracted services, schedule quarterly and annual updates and expect things to run smoothly.

Leaving Indirect Spend Unmanaged Means Dollars Left on the Table

Posted: 06/12/2019 - 01:35

For organizations looking to identify cost savings, increase profitability and get a leg up on the competition, indirect spend management is an ideal place to look. Often considered the backend of procurement – involving expenses like IT services and equipment, professional services, office supplies and HR services – indirect spend actually accounts for a significant portion of overall spend.

Four Common (But Often Overlooked) Outsourcing Costs

Posted: 01/24/2019 - 03:42
As the labor market continues to tighten, employers are challenged with finding resources for special projects and ongoing operations. As a result, many organizations turn to outsourcing to augment their staff, engage specialists or to completely offload non-core capabilities. While there is tremendous benefit to strategic outsourcing, organizations should be aware that there are often overlooked – or soft – costs behind those benefits.

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