Procurement professionals are continually asked to find new ways to generate value, cut costs and make their organizations leaner and more efficient. While somewhat effective, the majority of procurement organizations are still leaving a lot of value on the table by taking a tactical and transactional approach to sourcing. Organizations need to take a more strategic approach, however, in many cases adoption has been slow or nonexistent because this approach has typically been viewed as complicated, tedious and time-consuming.
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Procurement professionals are continually asked to find new ways to generate value, cut costs and make their organizations leaner and more efficient. While somewhat effective, the majority of procurement organizations are still leaving a lot of value on the table by taking a tactical and transactional approach to sourcing. Organizations need to take a more strategic approach, however, in many cases adoption has been slow or nonexistent because this approach has typically been viewed as complicated, tedious and time-consuming.