The Decentralisation of Procurement: Shaping Future Trends in 2024
The landscape of procurement is undergoing a significant transformation, one that promises to redefine how businesses manage purchasing and supply chain operations. At the heart of this transformation is the decentralisation of procurement. Unlike traditional centralised procurement operations where a singular procurement team oversees all purchasing activities, decentralisation empowers individual stakeholders and employees to make purchases for their respective departments. This shift towards a more distributed model of procurement is not just a fleeting trend but a strategic move embraced by an increasing number of companies to enhance operational efficiency and adaptability. The Rise of Decentralised Procurement Recent statistics reveal […]
Streamlining operations: the benefits of single source suppliers in the finance and banking sector
In the fast-paced sector of finance and banking, efficiency and reliability are key, with every aspect of operations, no matter how seemingly minor, contributing to overall success. One often overlooked but critical aspect is the procurement of supplies and services. From stationery and janitorial to money bags and printed customer forms, all items are essential for the smooth running of a Finance and Banking organistaion. This is where the concept of single source suppliers comes in, a strategy that offers a multitude of benefits. Benefits of single source suppliers: Streamlined procurement processes: By consolidating suppliers, finance and banking institutions can […]
