Benefits of Strategic Sourcing Rather than carrying out a fulfillment or reactionary approach to procuring what an establishment needs, strategic sourcing takes a more information-guided, proactive approach to procurement. Strategic sourcing also helps procurement...
The rise in veganism was initially feared to be a great threat to meat and other animal-based products. Despite this, according to records, six million calves are killed for food every year in Europe. Veal meat is produced by slaughtering calves when they are 18-25...
Modern consumers are characterized by their hectic lifestyle and busy lives. This trend has opened the doors for packaged, ready-to-eat, and convenience food such as processed meat products. Companies in the processed meat market are increasingly on the lookout for...
Over recent years, there have been various industry developments that served as or caused trends in procurement. These procurement trends include technology changes, novel strategic approaches, new processes, and necessary adaptations to change. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow.
Technology, procurement, sourcing, and innovation have transformed industry significantly, and companies are struggling to keep pace with the new expectations, standards, and stipulations within the market. As the pharmaceutical industry continues to rapidly grow, companies must leverage sustainable, data-driven, and robust procurement strategies to overcome risks, optimize supplier performance, reduce costs, and increase efficiency. SpendEdge helps businesses develop and leverage unparalleled procurement strategies to gain and maintain a competitive edge, high profitability, increasing efficiency, and reduced costs.
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