Spend Taxonomy presents the spending of an organization in a hierarchical format. This hierarchy is based on levels, usually, it ranges from 3 to 5 levels.
Helping their companies gain a cost-competitive advantage over their competitors is what is expected of a truly efficient Procurement Organization.
Evaluation of the vendor’s qualitative response is one of the most important phases for the successful execution of the Strategic sourcing process.
There are many negotiation tools that are deployed by procurement organizations.
Low Spend under management is the most common reason for inefficiency faced by many procurement organizations.
Reverse Auction is one of the most important mechanisms adopted by procurement outsourcing companies for negotiation
PEM is a process or clause adopted as part of a contract for a commodity or category when it is sourced.
To answer these questions it is important to summarize and define Procurement Market Intelligence & Analytics Services
Most industries and countries worldwide are facing either stagnant economies or even if they are growing the growth rate is very low.
Commodity markets like paper, sugar, chemicals, metals or any other segment like energy are highly volatile in terms of prices and demand/supply gaps
