Globalization and evolving social, economic and regulatory trends have elevated corporate competition to a new level altogether. For procurement departments in particular, cutting costs, doing more with less, and running agile operations are the new standards for success.
With their operating budget expected to grow by just 2.7 percent this year, procurement leaders are focusing their transformation efforts on cultivating procurement's role as a trusted advisor, investing in next-generation training and development, and harnessing big data.
The big North American distributor of industrial products was looking for a means to eliminate paper and curb the flood of e-mail exchanges generated by its supplier-management efforts. It also wanted to keep closer tabs on a growing supplier base. Time for an automated solution.
Global Healthcare Exchange LLC (GHX) has finalized its acquisition of Vendormate, an Atlanta, Ga.-based company specializing in vendor relationship-management applications for healthcare providers and suppliers.