Month: September 2019
The Modern Procurement Department is required to realize procurement savings objectives by utilizing various means. Traditional methods focused on quality, delivery, terms, warranty, negotiations, contracts with a hyper-focus on price. Price has traditionally been the most critical Key Performance Indicator, not the Total Cost of Ownership (TCO). Indeed, TCO has been seen as “theory”, and not to be examined in a practical sense. Today’s Procurement Leaders are required to leverage their departments and supply chains to Gain Competitive Advantage.