Organizations can benefit from a procurement function that has these five main features:
1. A detailed spend map that cuts across an entire organization and is updated regularly so all purchases can be analyzed continuously for need, value, pricing and quality.
2. The ability to drive savings across the organization by continuously ensuring the right products come from the right vendors at the right price to meet organizational goals.
3. The ability to engage with the entire organization to evaluate how reduced costs can be enjoyed across the value chain.
4. An organization-wide focus on ensuring value through contract management and supplier relationship management.
5. The ability to deliver acquisitions through an operating model that connects technical and commercial capabilities to drive organizational goals and optimum client outcomes.
Be the first to answer.
(A) Technology, design, cost, co-development, quality, intellectual property, and risk management
(B) Delivery, cost, and quality
(C)Supplier contract and relationship
(D) The supplier's history with the buying company
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