Calculating Procurement's Value
Procurement has embraced change and adapted over the years. The bottom line however is that achieving measurable savings is the principal method by which Procurement can demonstrate its value in supporting the institution's educational mission. A significant obstacle in quantifying the value of Procurement is the lack of standardization among schools in measuring cost savings and other benefits gained through the actions of Procurement.
The purpose of this monograph is to propose a universally-accepted definition of cost savings and to identify the tools to use in developing a successful cost savings and benefits program.
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