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What is zero-based budgeting?

IBM Business Partners

Enhanced Efficiency: ZBB encourages resource reallocation towards high-impact activities. By evaluating expenses based on their value and alignment with strategic objectives, ZBB ensures that resources are allocated to areas that generate the highest return on investment.

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11 Cost Reduction Strategies in Procurement

Obobo

By developing a good rapport with suppliers, you can create a more collaborative environment where both parties benefit. Finally, companies can look for opportunities to collaborate with other businesses in order to achieve shared cost savings. Procurement teams can also use technology to manage purchasing more efficiently.