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“Often procurement departments set their annual objectives using vendor contract expiration dates, rather than looking at a macro perspective and trying to optimize a full spend category holistically. A spend management objective is to optimize a full category, not a solo contract or vendor, and to understand vendor objections and motivations to your advantage.”
Natalya Berdzeni, CCM EVP and author of 99 Questions to Stop Spending More Than Your Competitors, discusses strategic spend management objectives.
