Procurement Magazine July 2024 | Page 23

• Cultivate strategic partnerships : Establish mutually beneficial relationships and collaboration with key suppliers to ensure quality and reliability while leveraging each other ’ s strengths to help expand market presence
• Embrace digital transformation : Leverage technology to streamline procurement operations and enhance efficiency while enabling mid-market companies to compete on a larger scale while maintaining cost-efficiency
• Focus on customer experience : Prioritise the needs and experiences of customers in procurement decisions , which can help procurement teams differentiate their organisation in the market and build strong supplier relationships that will scale well as the business grows
• Foster a culture of innovation : Encourage a culture of creativity and innovation within the procurement team , embracing experimentation , risk-taking and continuous improvement .
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