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11 Cost Reduction Strategies in Procurement

Obobo

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Overall, these 11 cost reduction strategies in procurement demonstrate that companies can significantly reduce costs and maintain profitability with the right procurement management practices.

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Centralized Purchasing: Advantages and Disadvantages

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. 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. Download Free Copy.