SCLCI’s Early Editions

SCLCI’s Early Editions

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SCLCI’s Early Editions
SCLCI’s Early Editions
SCLCI's Back-to-Basics: 5 Minute Explanation of "Procurement Costs"

SCLCI's Back-to-Basics: 5 Minute Explanation of "Procurement Costs"

The series breaks down similar concepts in quick comparisons and makes a clarification simple to understand. Follow topics into greater detail within SCLCI Early Edition's case studies and articles.

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Mar 03, 2024
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SCLCI’s Early Editions
SCLCI’s Early Editions
SCLCI's Back-to-Basics: 5 Minute Explanation of "Procurement Costs"
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Procurement Costs:

Purchasing Cost + Contract Value - Cost Savings

The definitive reason that supply chain management procurement is a strategic function within any business is that;

  1. Cost savings from proper execution of procurement can be quantified, and

  2. Influence of sourcing activities on product development and service delivery are substantial, and

  3. Business unit leaders can align with corporate strategy through procurement.

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