Unfortunately, many senior executives – and, admittedly, even some procurement professionals – do not understand all of the ways that procurement can create value.
The procurement value chain is an important but somewhat nebulous concept in business. Best procurement value creation refers to activities that have a positive financial impact on an organization. Sometimes, value takes the form of a receipt of cash, such as when an organization is paid for a sale. Sometimes, value takes the form of the saving of money, such as when a lower price for goods or services is negotiated.
In this workbook, you’ll learn 10 ways that procurement can create value and be challenged to formulate your own ideas on how can procurement add value & how you can create procurement value for your organization.