Business Intelligence On-Demand

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February 2018 | Report # 62

BEST PRACTICES IN STRATEGIC PROCUREMENT FOR THE MID-MARKET

Many mid-market firms or small-to-medium businesses (SMBs) manage their procurement function as an afterthought, prioritizing financing, staffing, customer growth, and marketing. They tend to focus on procurement once the company has reached a certain growth threshold. However, according to the Business Development Bank of Canada, SMBs spend between 45-65% of their sales revenue on procurement. Bain & Company......