Strategic vs Tactical Procurement Explained Difference With Real Impact
Imagine it is Monday morning, you come in late with your coffee in one hand and your phone in the other to learn that the all-essential component required to make the day work is not shipped. It is not a time to consider options or bargain. Somebody rushes into order at the 11th minute, and […]
Cost Avoidance vs Cost Savings in Smart Procurement
You saved some dollars on paper towels this quarter. Well done, procurement superhero! However, your heating, ventilation, and air conditioning (HVAC) system malfunctioned once again, and its emergency repair bill caused your budget sheet to tear up. Now your question is, did I save anything at all? Hello to the daily dilemma of procurement, where […]
Procurement and Acquisition? Why Smart Builders Treat Them Differently
Procurement and Acquisition Why the Confusion? Just imagine: a developer has managed to purchase a large-on-large property at last; top location, perfect view, possibly even a tea stall nearby. Everyone’s excited, and then the boss says: Okay, Procurement team, let us begin zoning it! And that is when the procurement team looks surprised and asks, […]
Difference Between Procurement And Supply Chain Explained With Real Impact
To begin with, trying to distinguish between procurement and supply chain is as difficult as trying to explain the difference between jam and jelly at 8:00 a.m. Before Coffee. Close enough?😅 Did you think that they were technically the same? No way!😱 The difference between procurement and supply chain is often misunderstood. It is not […]
Procurement vs Purchasing: Key Differences, Business Impact, and Why It Matters
You’ve probably seen it happen in meetings that someone gets up and says, “No worries, the procurement team is on it”, and 5 minutes later, they say, “We already finished the purchasing process; we are good”. Or maybe sometimes you experienced that your fellow employee says procurement when they really mean purchasing, and the whole […]