Three Tips To Sharpen Your Procurement Strategy

Consero’s June 2015 General Counsel Forum to Examine Strategies for Weaving a Culture of Compliance and Ethics into the Corporate Fabric
May 27, 2015
Developing Strategic Relationships With Your Suppliers
June 4, 2015

Three Tips To Sharpen Your Procurement Strategy

1. Engage Early and Often

Communication is key to maintain long-standing, successful business relationships. Engage early and often with your fellow C-suite members to ensure that the procurement or supply chain strategy of your business unit is aligned with corporate strategies.

2. Invest In Technology

Have your team keep you updated on new and upcoming technological tools that can help prove the value your organization delivers, especially as it relates to spend under management. Choose software that fits with your business unit’s priorities, for example, software that is user-friendly and has a quick process cycle time.

3. Value Your Metrics

Metrics are key to communicating the value that your organization delivers to your stakeholders. Make certain that your outcomes are measurable so that you are able to prove value, as well as use the numbers to review departmental performance for improvement.

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