Procurement Outsourcing Vs. Insourcing

2021-08-27T09:42:27-04:00August 25th, 2021|Categories: Inventory Management, Risk Mitigation, Supply Chain Management|Tags: , , , , , |

Outsourcing the procurement of some materials (direct or indirect) is appealing since most manufacturers lack the capabilities or capacity to successfully capture the full value of total spend optimization. Procurement outsourcing providers employ many resources that client companies often lack in sufficient quantities such as procurement expertise, category knowledge, technology, and processes. Yet, while outsourcing procurement has its advantages it also poses some risks…