StrategicSource Blog

The go-to blog for spend management best practices, that provides articles and videos on achieving cost savings and managing suppliers, as well as insights into how to be the most effective purchasing department for your business. 

Posts about:

Spend Management

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How to Make an Ineffective Spend Strategy an Effective One

The implementation of a Spend Management Vision – a dedicated function within an organization is very common in most large organizations. While most organizations that have a Spend Management Vision and Department realize the benefits and efficiencies, organizations that do not have those functions resident in their organizations probably do not realize the costs of being highly decentralized.

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8 Best Practices of Highly Effective Purchasing Operations

All organizations have a purchasing function within their operations. Some organizations centralize their purchasing activities with one group to leverage spend, reduce costs and drive economies of scale. Other organizations decentralize their purchasing responsibilities and spread that responsibility to management closest to their operational responsibilities to maximize the category expertise.

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7 Ways to Improve Your Profitability in 2022

As we’re approaching the end of 2021, many businesses are finding some disappointing profit margins. With the volatility of 2020 and 2021, it’s likely that your profitability suffered. While we can’t predict what will happen in 2022, one thing we can do is offer some tips for effective cost management strategies. Many businesses spend more on supplies and vendors than they actually need to, which causes extra spend and less profit.

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