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However, those metrics stabilized in the first few months of 2023, and due to today’s economic environment, the focus has turned to costcontrol. To make the best decisions going forward and fulfill their cost-cutting mandates, business leaders must stay on top of these shifts.
How to gain visibility and control of your indirect spend. How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. CostControl When employees are responsible for booking their own travel, they tend to be more mindful of costs.
By definition, cost avoidance is the proactive identification and prevention of unnecessary or wasteful spending within the procurement process. This can be accomplished through a variety of means, including strategicsourcing, contract management , spend analysis, and supplier relationship management.
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