marketing procurement

WFA Research Benchmarks the State of Marketing Procurement

Posted: 10/27/2020 - 05:13
Eighty-five percent of respondents agreed marketing procurement drives improvements, and 76% agreed it provides demonstrated value.

This summer, the World Federation of Advertisers published an illuminating report about the current state of marketing procurement and how the function needs to evolve to realize its full potential. The report is part of an ongoing initiative led by the WFA Global Sourcing Board. The initiative, Project Spring, is “designed to transform the value proposition of marketing procurement.”

Managing Marketing Procurement Through a Kraljic Lens

Posted: 08/10/2020 - 23:38
Kraljic’s model classifies purchased products and services along two dimensions: profit impact and supply risk.

In a landmark 1983 article in the Harvard Business Review, Peter Kraljic introduced a purchasing portfolio model using a 2 x 2 matrix. The Kraljic model was based on the premise that purchased products and services can vary significantly in terms of importance and risk.  Based on this, procurement professionals should use different sourcing and supplier management strategies depending on the importance and risk profile of each purchase.

Subscribe to RSS - marketing procurement