So now that you know what spend under management (SUM) is, how would you go about adopting such a framework? SUM is built on creating a partnership between indirect procurement and operations along five key operating principles across sourcing, contracting, buying, and spend decision-making. At its foundation is executive leadership with joint operating targets established between indirect procurement and the operating groups they support. The actual SUM model measures the maturity of the organization across...

Senior management’s top priority remains the same – drive value for the business. And while indirect procurement manager’s feet are held to the fire to achieve cost reduction targets and improve productivity, many struggle because they are still using outdated tools and technology. Alternatively, for end users, their focus is simply to get their job done right, and as quickly and easily as possible. By applying new technology, insights, and thinking to the challenge of...