Buying Channels – The Key to Frictionless Procurement

Reading time: 6 mins

Key Takeaways

⇨ PwC Global Digital Procurement Survey reveals that 61% of procurement professionals are keeping their focus on cost reduction and strategic sourcing.

⇨ A buying channel is a process that specifies a need, identifies the supplier that fulfills the need, and determines and dictates the terms of procurement.

⇨ Control, process visibility, contract management, and regulatory compliance are the core elements of procurement and sourcing in supply chain.

Organizations are increasingly looking for ways in which they can procure products or services in a cost-effective way. However, with multiple products or service categories and requirements in an organization’s portfolio, a one-size-fits-all purchasing strategy does not always work. In this article, learn how organizations can streamline their procurement processes through buying channels, and get more control, process visibility, contract management, and regulatory compliance in their supply chains.

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