In today’s Art of Procurement, I share how the concept of demand management came to the front of my mind while out shopping for birthday presents for my son last weekend.
I then discuss five different ways in which procurement can help our organizations reduce their overall expenditure by managing demand rather than reducing supplier profit margins.
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“Are the metrics that you have required of your supplier too aggressive. Do they represent a nice to have? Or a perfect world situation? If so, this increases the burden on your supplier, their cost to serve, and ultimately their price back to you.”
In this episode, you will learn:
- Details behind my 5 ways to reduce spend through demand management:
- Are products or services being over-engineered by business users?
- Could you use substitute products or services?
- Are your supplier metrics too aggressive?
- Are you at risk of making duplicate purchases?
- Can you reduce demand through policy and approval processes changes?
Links and Resources:
- Subscribe to The Art of Procurement
- Philip Ideson on LinkedIn
Thanks for Listening!
