Jean-Jacques Laffont, a French economist, defined Procurement as "the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process."
Even though the core concept remains the same over decades, the reality is that in practice, procurement must evolve and adapt over time especially as technology advances around it.
Procurement is focused on making buying decisions that involve cost-benefit or cost-utility analyses but many debates still persist in acquiring Logistics services such as “do I enable my internal logistics department to make these decisions” or “do I centralize the process through an enterprise-wide procurement organization”.
In this episode you will learn the following from our Business Development VP, Brian Reed:
- “How is the Digital Age transforming procurement?”
- “What is the role and impact that technology is having in this critical phase of a supply chain?”
- “How can external partners help companies achieve excellence in procurement?”.
Want to learn more on how GEODIS can help you make better buying decisions?