One of the most important aspects of putting together a strategic sourcing plan at your organization is risk management, and proper identification of risk. While taking risk is a necessity in business, it’s important to eliminate needless risk factors that do not open any new opportunities for the organization. A solid strategic sourcing plan should […]
Risk Management in Strategic Sourcing Read More »
If you have spent a significant amount of time in the procurement landscape, especially public procurement, you are aware of supplier diversity efforts implemented to ensure that suppliers owned by minority groups are getting their fair share of business. These efforts seek to undo the historic underrepresentation that minority-owned businesses face. Supplier diversity in procurement
Supplier Diversity in Procurement: Diversifying Your Supplier Base Read More »
All hands are on deck for the 2024 IOCP Commercial Card and Payment Conference! Card Integrity will be exhibiting. Booth information to come. If the conference sounds familiar, but the name doesn’t, this is the first conference under the IOCP name. Purchasing card professionals across the U.S. and Canada will join others from various industries
Get Ready for IOCP’s Commercial Card and Payment Conference! Read More »
Sourcing strategies tend to fall under two major categories. The differences between the two are clear and well-defined, but there is less consensus about use cases for each of them. A lot of it depends on the exact organization, its goals, and directives from that organization’s C-Suite. In this blog post, we’ll define both tactical
Tactical Sourcing vs. Strategic Sourcing Read More »
March is an exciting time of year for procurement professionals. The Institute of Public Procurement (NIGP) has dedicated it as National Procurement Month, a time for recognition among those in the industry for all the hard work that they do, and the impact that work has on society. Though public procurement is the most directly
Get Ready for National Procurement Month! Read More »
Strategic sourcing is the process of taking a look at what goods and services your organization needs to run most effectively, and is implemented by taking a look at all available options and optimizing the spend of the organization. It implies a knowledge of the difference between minimizing total cost, and minimizing purchase price. It’s
How Data Monitoring Can Improve Strategic Sourcing Strategy Read More »
