Core list and rewrites are a major aspect of sourcing indirect spend. Some would even say that this is the main place to optimize savings year after year. Eager to learn more? Read on to find out everything you need to know about core list development and rewrites.
Leverage within a group purchasing organization (GPO) is meant to benefit all parties, but how exactly is it effecting the members? Members gain from GPO leverage and here's why:
Last week, CoVest had its fourth annual member meeting. We were thrilled to host this years meeting in our hometown of Cleveland, Ohio. Other than treating our members to the wonders of Cleveland, the meeting covered a wide range of subjects, ranging from CoVest updates to new supplier advances.
As a verb, to leverage means to gain an advantage through the use of a tool. For example, you can more easily lift a heavy object with a lever than you can lift it unaided. That is what is happening in a group purchasing organization (GPO). A company, that uses a GPO as a tool, can be seen as part of a bigger organization and thus gain better pricings, service and terms than it could have on its own.
Mission: Build a new member's first company-wide category contract.
The new member is moving from a facility level sourcing focus to a centralized category management approach. They are aiming to decrease the many suppliers they have for each sub-category.
CoVest Member, PlayhouseSquare, is Transforming Euclid Avenue and 14th Street in Downtown Cleveland with the World's Largest Outdoor Chandelier.
CoVest Sourcing Network congratulates Suncor/Petro-Canada and Staples Inc. for there achievement in being among the top 100 Global companies corporate sustainability and social responsibility.