Category management is a key component of strategic sourcing and is often used in conjunction with other procurement strategies to maximize value and reduce costs. Read More

Centralized procurement is the process of centrally managing the purchasing for distributed locations. In a centralized procurement model, there is one procurement team for all locations. Read More

Clinical trial procurement is a complex process that involves a range of challenges. Read More

Cost Avoidance is a preventive measure that involves identifying potential costs that a business may incur in the future and taking steps to avoid them. Read More

Cost savings refers to the amount a company saves due to higher efficiency or better purchasing costs. The finance team always measures cost savings as a reduction in the set budget. If the cost reduction doesn’t impact the budget, it can’t be considered cost savings. Read More