Procurement and Procurement Spend. Purchasing. Commodity Management. Category Management.
They are all running their own businesses within their companies, or at least they should be, whether they realize it or not.
Goods and services spend in many companies is the largest, or one of the largest, expenses. And all of this is managed by Procurement personnel.
But do they manage this spend like it is their own business or do they manage it like it is just a functional job with transactional activities to be performed?
Link Original: https://supplychaingamechanger.com/manage-procurement-spend-like-its-your-own-business/