7 Procurement Levers - oboloo (2024)

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oboloo Glossary

The official business definition of 7 Procurement Levers is a set of tools used to manage and optimize the procurement process. These levers are used to increase the efficiency and effectiveness of the procurement process, resulting in cost savings, improved quality, and better service. The seven levers are: strategic sourcing, supplier relationship management, category management, procurement process optimization, supplier performance management, contract management, and e-procurement. Strategic sourcing is the process of finding the best sources of supply for goods and services, while supplier relationship management is the process of managing the relationships between buyers and suppliers. Category management is the process of grouping goods and services into categories to simplify the procurement process. Procurement process optimization is the process of streamlining the procurement process to reduce costs and improve efficiency. Supplier performance management is the process of monitoring and managing supplier performance to ensure that they meet quality and cost requirements. Contract management is the process of managing the terms and conditions of contracts to ensure compliance and reduce risk. Finally, e-procurement is the process of using technology to automate and streamline the procurement process. By leveraging these seven levers, businesses can optimize their procurement process and achieve greater cost savings, improved quality, and better service.

7 Procurement Levers - oboloo (1)

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The smarter way to have full visibility & control of your suppliers

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7 Procurement Levers - oboloo (2024)
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