I've taken a few stabs in the past at defining Spend Management, but in a recent piece APICS does a far more comprehensive job than me at it (the hat-tip for this one goes to David Bush, over at E-Sourcing Forum). In "Spend Right" the author quotes AMR's Mickey North Rizza and Forrester’s Andy Bartels extensively. Perhaps the most useful observation in the article is that "Companies that make 'quantum leaps' in procurement, as opposed to making continuous improvements, do display some common characteristics ... Instead of viewing procurement as purely transactional, procurement professionals work with suppliers and engineers on new product introductions. Company leaders redesign the organization to support the new model, taking it from a tactical transactional organization and making it more strategic." For the spend expert and neophyte alike, the piece is not a bad summary of the power of Spend Management to transform companies. Certainly, you won't get any disagreement from me on the suggestions!