50 Shades of Pay – Shade 11: Strategic Spend Planning [Plus+]

In the previous 10 installments of this series, we’ve discussed how (and why) to build a foundational capability to analyze spending history and then identify a myriad of opportunities to improve not just sourcing outcomes, but also opportunities to improve processes, master data, policies, etc. These are opportunities for procurement as well as the spend owners themselves. What this transformation means is that we begin to focus on future spending in order to best shape it and gain more value. Rather than just looking in the proverbial rearview mirror to see black smoke, we begin to look forward with our passengers and discuss where we need to go and what type of vehicle and fuel is needed for the journey.

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