What Is Bias in the Procurement Process? Let’s start by defining bias. Bias refers to using inappropriate criteria or information in decision-making that leads to irrational, arbitrary, and capricious ...

The procurement process is composed of symbiotic moving parts. When components don’t communicate efficiently, breaks in the supply chain occur, causing costly errors, lost time and missed ...

The past year’s economic volatility forced business leaders to shift strategies and reduce spending while simultaneously seeking new paths to profitability. In particular, according to a Gartner ...

With 2023 well underway, an uncertain economic landscape is prompting business leaders to carefully assess their budgets and reduce spend wherever possible. However, many businesses today lack ...

Material procurement covers the entire process from need identification through receipt and payment for goods, including supplier management. Sourcing focuses on identifying, vetting, and establishing ...

When Marc Andreessen made the bold statement in 2011 that software is eating the world, he uncovered a trend that would haunt businesses across virtually every industry. With most companies overpaying ...

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 ...

Procurement functions as the critical interface between an organization and its external resource providers. The process involves identifying needs, evaluating potential suppliers, negotiating terms, ...