Businesses now understand, probably better then at any time in recent history, how market forces, geopolitical risk, inflation, and the fragility of the supply chain can all produce fast and negative impacts on margins. In response to rising costs, some businesses have successfully passed along steep price increases to customers. Some have also used the
Category: Procurement strategies
Standardization is an optimization technique used in all disciplines. In a purchasing context, “standardizing” means adopting common internal specifications or processes in order to optimize the price and consumption of externally available products and / or services.
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