How Strategic Sourcing Reduces Spend in the Food and Beverage Industry

The food and beverage industry is a massive one, especially in North America. According to the United States Department of Agriculture (USDA), in 2019, U.S. consumers, businesses, and government agencies spent $1.77 trillion on food and beverages in grocery stores and other retailers. Generally speaking, food and beverage prices remain fairly stable, increasing just 2.3% […]

3 Ways to Measure Predictive Procurement Success Beyond Cost Savings

There was a time when a company’s procurement function was largely left out of the loop and taken for granted. Once other business units had made the meaningful decisions, then it was up to the sourcing team to look after the mundane tasks of contacting suppliers and signing contracts.  A 2019 Harvard Business Review report […]