What is Procure to Pay (P2P) Procure to Pay, also known as purchase to pay or “P2P”, is a process that organizations follow when procuring the...
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Procurement
Establish Inclusive Procurement Practices in Four Steps
The sixth and final step to starting your supplier diversity program from scratch is establishing your organization’s inclusive procurement practices. This last step...
7 Ways to Create More Resilient Supply Chains
COVID-19 has taught manufacturers a bitter lesson. The global supply chain doesn’t adjust well to unexpected or unusual incidents — so-called black swan events. Extended lockdowns, changes in consumer behavior, spikes in fuel costs and tensions among global trading partners have caused an unprecedented breakdown of the supply network.
Economic Impact and Importance of Locally Based Sourcing
Businesses can make a significant contribution to a country’s growth by finding products to source locally. Businesses purchase goods and services locally to support...
How to Find the Right Supplier
Identifying the right supplier may be difficult, and a sizable proportion of procurement teams consider this the most challenging component of their job. Knowing how to find...
Understanding The Famous 7 Step Strategic Sourcing Process
In today’s competitive business climate, many professionals are continuously seeking ways to optimize cost but still assure the highest quality of products and services. To...
