The Pros and Cons of Outsourced Procurement (.PDF Download)

May 22, 2023
Before companies outsource their procurement functions to reliable third parties, there are both benefits and risks to consider.

A type of business process outsourcing (BPO), procurement outsourcing finds companies hiring a service provider to perform some or all procurement activities. According to Vendr, this outsourcing process often involves procurement functions that are considered non-core (e.g., indirect procurement) but can also include functions like supplier relationship management, RFP/bid management, spend management and contract negotiation.

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