Artificial intelligence is fundamentally changing how companies buy goods and services, transforming procurement from a back-office function into a strategic business driver. Where procurement teams ...

Getting the right materials at the right time and price is incredibly important for any successful business. Material procurement affects everything from product quality to company profits. Smart ...

For chief procurement officers and other procurement leaders, centralizing operations is often the preferred strategy. And it’s not difficult to see why: A centralized approach allows procurement to ...

Procurement is facing a moment of reinvention. As supply chains become more digital, complex, and customer-driven, the traditional focus on cost reduction is giving way to a broader mandate: deliver ...

Editor’s note: This article first appeared on the University of Tennessee, Knoxville’s Global Supply Chain Institute’s blog. It is being reprinted with permission. You can read the original post here.

Material procurement covers the entire process from need identification through receipt and payment for goods, including supplier management. Sourcing focuses on identifying, vetting, and establishing ...