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

Plan, forecast and measure the impact of savings initiatives

Impact Tracker 2021

Impact Tracker 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.

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Read blog articles about spend management, initiative management and data management in procurement, or other articles from our experts.

How to Introduce Successful Initiative Management in Procurement (Part 1)
Currently, many companies in procurement are still focusing on the automation of their ...
How to Introduce Successful Initiative Management in Procurement (Part 2)
In many companies, initiative management and controlling still only play a minor role ...

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