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11 Cost Reduction Strategies in Procurement

Obobo

Leverage technology solutions to automate procurement procedures , improve compliance, and reduce costs. Consolidate Suppliers: Reducing the number of suppliers and consolidating orders can increase your bargaining power and create efficiencies, thereby saving costs. Here are some ways to use technology to your advantage: 1.

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Centralized Purchasing: Advantages and Disadvantages

Planergy Software

By sharing information and resources, there are opportunities to combine departmental purchases so that you can qualify for volume discounts and also reduce your delivery and transportation costs. You’ll be able to streamline the process with automation, across different departments if you handle everything from a central location.