Purpose
Procurement outsourcing is usually utilized to reduce costs for goods and services. Acquisition of goods and services can be outsourced with the help of a third party, for example, a procurement outsourcing company. Outsourcing of business operations will result in cost reduction, efficiency of business processes, enhanced compliance, increased competitiveness, increased revenues, and offer an opportunity for the Company to focus on its core competencies.
According to Above the Standard Procurement Group Inc. (2012), many companies do not have enough internal staff or the level of expertise of internal staff engaged in procurement is low. Therefore, internal staff cannot conduct ...
