What does Initiative Management mean in procurement context?
Initiative management involves the planning, management, and measuring of (strategic) procurement projects. Purchasers can define projects, initiatives, and actions, provide activities for achieving them and initiatives with target values for key indicators (e.g. targeted savings).
Based on a multilevel process for the degree of implementation , initiatives can be updated and (measured with probabilities) success can be measured.
In addition to the term "initatives" the following terms are often used: procurement initiatives, purchasing initiatives, procurement projects, purchasing projects
Impact & Savings Tracking
Impact & Savings Tracking is a full featured suite for planning, steering, controlling and administering of sourcing initiatives. You can use this software to plan and create sourcing initiatives, define savings targets, assign responsible staff members or teams to initiatives, determine sourcing levers, set activities and milestones, as well as monitor and analyze them easily by using innovative visualizations and dashboards.Request a Demo for Impact & Savings Tracking more about Impact & Savings Tracking
Here you will find important terms related to spend management explained in a clear way. Small knowledge base for quick information or in full for your further education. This controlling glossary is constantly being expanded and improved.
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