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11 Cost Reduction Strategies in Procurement

Obobo

With these proven strategies, you can reduce your costs and ensure every penny counts in your business. However, managing procurement can be costly, and costs can add up quickly. Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing.

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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. In some instances, a small business only needs a purchasing or procurement manager rather than an entire department with multiple staff members. How to gain visibility and control of your indirect spend. Written by.