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By determining future budget, leadership can set clear goals and expectations for stakeholders within the organization, the procurement department and the budgeting process itself.
When you understand how the market is developing, you can plan what that means for your procurement strategy and overall budget.
Supply-chain and logistics leaders need to consistently prove performance, deploy continuous improvement processes and forecast future costs.
By understanding cost implications within the context of the market, they can clearly communicate reductions related to efficiency gains from the implementation of modern procurement processes.
Procurement professionals need to keep an overview of the tender, all incoming bids and the development of the market.
Due to the complexity of many of your networks, concentrating on the most important lanes where the budget impact is the most significant remains a common practice.