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Strategic Procurement: Reducing Costs & Improving Value Contribution
Procurement organizations are most noted for reducing costs in their organizations. Cost reduction is hard coded in all areas of focus from procurement strategy to the tactics. It is the key performance indicator by which procurement is traditionally recognized. Strategic procurement teams go beyond cutting price and traditional expectations. Procurement teams understand minimizing costs is but one of many key performance indicators tied to value contribution – but it is foundational. Strategic procurement has many performance indicators and strategic procurement leaders also understand there are many ways to reduce costs.
To do this, organizations are finding the need for trusted technology advisors who partner to redefine processes, gain greater insight into supplier data, drive supplier innovation and reduce risk.
Tejari has a proven record of global success: helping customers unlock the power of procurement to optimize sourcing initiatives, deliver cost reduction and identify opportunities to collaborate and innovate with suppliers.
The Tejari strategic procurement suite provides end-to-end automation of the complete strategic procurement lifecycle. It integrates supplier lifetime value throughout the entire strategic procurement process to provide organizations with unmatched visibility into their supply base through every phase of the strategic procurement process.
Strategic procurement teams utilize Tejari’s solutions as the foundational tool to deliver cost reductions. Learn more here.
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