Many businesses still regard purchasing as a straightforward task and a means to a goal. A procurement team's main goal is to satisfy financial criteria while lowering expenses for their company. As a result, most teams position rival suppliers against one another to save money on purchases.
It leaves firms with little room to develop an efficient procurement strategy and create supplier relationships. As a result, implementing strategic sourcing and improving the overall purchasing efficiency is difficult for businesses.
In this article we will show you how to implement a strategic procurement strategy and its benefits.