Managing corporate spend is far more complex than conducting RFPs. Learn how the most efficient and effective procurement departments operate, control costs, enforce compliance, and manage indirect spend.

Managing Indirect Spend provides executives and procurement professionals with the knowledge and tools necessary to successfully reduce costs with a strong focus on the often-overlooked area of indirect spend. It also offers great value to those procurement and purchasing professionals aspiring to be leaders in the profession, regardless of the spend they manage. It includes an overview of the challenges faced when sourcing indirect spend categories, a detailed dive into the strategic sourcing process, tools that can help drive savings, technologies that drive efficiencies and compliance, and examples of success based on real-world experience. It is a how-to guide that clearly covers sourcing engagements of any complexity and provides the details needed to source effectively. The book is structured into sections covering the sourcing and procurement process, the tools and technologies, examples from the field, walkthroughs of specific sourcing engagements, guidance on building an effective sourcing team, and the information needed to become a best-in-class sourcing organization.

Since the initial publication of this book, the procurement profession and the discipline of Strategic Sourcing have matured. Markets have changed, processes developed, trends have come and gone, and technology has experienced leaps and bounds, posing new and interesting challenges for procurement professionals. In addition to covering tried-and-true practices for strategic sourcing, this Second Edition discusses how strategic sourcing has evolved and provides an update on the techniques, tools, and resources available to purchasing groups. This book:

• Includes updated coverage of everything you need to know to source more effectively
• Covers the latest trends in procurement and sourcing, including technology, process improvements and organizational design
• Presents guidance for reducing costs through strategic sourcing, no matter what the economic climate or level of maturity of the existing procurement organization
• Shows how effectively managing indirect costs can provide a huge impact on bott
• m line growth
• Introduces Market Intelligence (MI), including techniques, tools, and resources available to procurement and supply chain management groups

With tools, real-world examples, and practical strategies, Managing Indirect Spend provides insider guidance for big bottom-line growth through effective management of indirect costs.

Discover the most efficient and effective procurement strategies to reduce costs and increase profitability

Since the release of the widely read First Edition of Managing Indirect Spend, the procurement profession and the discipline of strategic sourcing hIave dramatically and permanently matured. Technology especially has undergone fundamental changes that create new and urgent challenges for procurement professionals.

The thoroughly revised Second Edition of Managing Indirect Spend: Enhancing Profitability through Strategic Sourcing offers readers the opportunity to get a firm handle on the knowledge and tools necessary to successfully reduce costs in the area of indirect spend. It includes an insightful exploration of how strategic sourcing has evolved in the last ten years and gives an update on the techniques, tools, and resources available to purchasing groups.

The book delivers an overview of the challenges faced by companies when sourcing indirect spend categories, as well as summaries of the strategic sourcing process, descriptions of the tools that can help increase savings, and fulsome examples, based on real world experience, of companies that have reduced expenditures and increased profitability using the techniques explained in the book.

Managing Indirect Spend also includes sections that will guide the reader through the sourcing process, introduce new technologies that have revolutionized the procurement profession, and explain how to properly build and manage an indirect procurement team. This how-to guide shows procurement professionals how to reduce costs through strategic sourcing and implement world class policies, processes, and tools, regardless of their procurement maturity, the economic climate they find themselves in, the size of the spend they manage, or the level of maturity of their organization.

Perfect for CEOs, CFOs, CIOs, and other executives at small-, mid-, and large-size companies, Managing Indirect Spend is also an invaluable resource for supply chain managers, distribution managers, and purchasing managers who need to reduce costs in the area of indirect spend and require a concise and effective strategy to accomplish that goal.