The ultimate goal of a business procurement team is to save money. This typically results from negotiating better rates with suppliers or developing broader strategies to reduce spend like making ...

What are the most common types of procurement? Procurement stands as one of the most influential business functions in modern organizations, directly impacting both financial performance and ...

Getting the right materials at the right time and price is incredibly important for any successful business. Material procurement affects everything from product quality to company profits. Smart ...

For many years, companies have been actively investing in procurement automation. It all started with the introduction of specialized software applications for automating internal business processes.

Editor’s note: Procurement Pulse is a monthly look at a topic or trend that is impacting the procurement function at organizations of all sizes. If you are interested in future topics, you can see a ...

AI—and specifically generative AI—has proven to be the most breathlessly hyped technology ever to hit the procurement function. When it burst onto the scene, it was trumpeted less as a technology and ...

As the disciplined process of acquiring goods and services for operations, procurement typically manages between 50% to 70% of total company expenditures. That's a lot, and many organizations now ...