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Market Intelligence

Market intelligence not only sustains cost optimization opportunities but also enables Procurement Organizations to play a strategic role. While generic category intelligence is widely available in the alleyways of the internet, it is not always easy to locate relevant, reliable and specific intelligence that would fit the buyer’s sourcing context. This is where the services of a market intelligence company like Beroe Inc might be of value to Procurement Organizations across the globe.

CIPS will offer its members Beroe’s thought leadership content on Market Intelligence featuring Blogs, Whitepapers, Infographics/Videos, Special Reports and Commodity Dashboards - insights that are important to make better sourcing decisions.

Blogs

Supplier Compliance is Ripe for the Fabled Tech Disruption: Customer Interface While many service providers offer cloud-based technology, none so far offers an overarching solution to ensure supplier compliance across all parameters -- ranging from financial risk status to identifying and working with diverse suppliers. Read more to understand the major pillars of the supplier compliance process and methodology. Find out more By following this link you will be redirected to a page owned by Beroe

Supplier Assurance: robust audit process is a must Audits, by their nature, need to be carried out by independent bodies -- not influenced by the incentives in play at the buyer or supplier organisation. Suppliers’ marketing departments are often the most visible sources of information and going deeper than marketing content can be difficult. Identify the key reasons as to why every organisation should have a fully robust auditing process. Find out more By following this link you will be redirected to a page owned by Beroe

GDPR: 5 Tips for IT Procurement Professionals IT procurement professionals will be in the forefront to ensure that the external IT services their organisations use are GDPR compliant. A working knowledge of the GDPR will be vital to identify compliance issues that will require specialist advice. Find out the 5 tips on GDPR for IT procurement professionals who have a key part to play when it comes to protecting their organisations from data breaches. Find out more By following this link you will be redirected to a page owned by Beroe

Interview: Companies struggle with evaluating supplier qualifications during RFP On one hand, supplier compliance is presented as a prerequisite to contract and supply; on the other hand, compliance evaluation can be a lengthy process that may run past the tendering period. Explore our recent interaction with procurement sustainability and supplier compliance advisor Christel Costagli to understand the importance of a Procurement Organization’s Supplier Compliance program. Find out more By following this link you will be redirected to a page owned by Beroe

Bayer CPO: "We are ultimately accountable to optimize spend and pursue value beyond savings" Beroe recently interacted with Bayer CPO Thomas Udesen after the Life sciences company won the Gold medal as part of the annual Best-in-Class rankings. In this interview, Udesen talks about the approach that led his team to top the medals table. Find out more By following this link you will be redirected to a page owned by Beroe

Walmart deploys Blockchain to track leafy green vegetables, notifies suppliers 'Walmart identified the need to improve traceability to help public health officials investigate foodborne disease outbreaks and find the source of contaminated food. As a result, the farms that supply Walmart with leafy green vegetables will be required to input detailed information about their produce into a Blockchain database. Find out more on the initial pilot and the final implementation plan of the blockchain program by Walmart Find out more By following this link you will be redirected to a page owned by Beroe

Caesars Entertainment and Foodbuy join hands to create GPO Read more to explore the recent move by Caesars Entertainment and Foodbuy to join hands to create a group purchasing organization aimed at the North American gaming and entertainment industry. Find out more By following this link you will be redirected to a page owned by Beroe

U.S., Mexico and Canada agree on a new trade deal to replace NAFTA Category Lifecycle Management (CLM) is a continuous process, which helps build a procurement strategy encompassing both products and suppliers. If planned well, CLM will lead to smooth execution of value-generating actions. Read more to understand the five possible phases to be taken into account by procurement professionals when dealing with the lifecycle of a product. Find out more By following this link you will be redirected to a page owned by Beroe

Category Lifecycle Management in Five Steps Category Lifecycle Management (CLM) is a continuous process, which helps build a procurement strategy encompassing both products and suppliers. If planned well, CLM will lead to smooth execution of value-generating actions. Read more to understand the five possible phases to be taken into account by procurement professionals when dealing with the lifecycle of a product. Find out more By following this link you will be redirected to a page owned by Beroe

Best Practices Followed while Outsourcing IT Services 'With the increase in management complexities and high costs, the percentage of IT outsourcing is expected to increase in the coming years. The sourcing team should be on top of the latest trends in pricing model, contracting and vendor engagement. This blog explains the best practice models procurement teams should follow inorder to manage critical data. Find out more By following this link you will be redirected to a page owned by Beroe

Interview: Robust workflow architecture key to Spend Analysis exercise Beroe recently interacted with SimPPLY, a spend analytics solutions provider based in Sydney, Australia, to gather insights on how best to reap the benefits of a spend analysis exercise. Read more to find out the challenges and best practices in spend cleansing services. Find out more By following this link you will be redirected to a page owned by Beroe

Best Practices -- How to Reduce Cost in Construction? Cost reduction in construction technically means cost avoidance. When we consider how to save costs in construction, we are essentially trying to avoid paying extra costs. This distinction colors how we consider cost reduction. This blog briefly discusses the high-level concept of cost reduction and how they are applied. Find out more By following this link you will be redirected to a page owned by Beroe

The best-fit Data Management Platform can cut down wasteful Marketing spend There are numerous Data Management Platform (DMP) providers in the market, whose offerings can potentially confuse sourcing managers. A wrong choice often ends up wasting precious dollars earmarked for a company’s Marketing activities. This blog discusses the various benefits and challenges of implementing DMP. Find out more By following this link you will be redirected to a page owned by Beroe

Shop online for Services through e-Catalogs We all have purchased something or other from online shopping portals. Can the same experience be replicated across procurement categories? Especially, when it comes to Indirect Services categories, which are hard to structure or commoditize? Read this blog to understand how Procurement Organizations can create online shopping experience for indirect services. Find out more By following this link you will be redirected to a page owned by Beroe

Telecom Expense Management can deflate ballooning corporate phone bill

Inappropriate contracts and plans, lack of proper policies for international roaming, underutilization of voice lines and mobile devices, premature device replacements and unnecessary data downloads are the main reasons for unbridled rise in telecom spend. There is a way to fix this problem.

Find out how Telecom Expense Management solutions can address the invoice errors and eliminate the problem of ever-rising phone bills.

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Procurement to play key role under new accounting regime

Procurement function in any multi-billion dollar company sits on a huge pile of lease-related data. With just six months remaining, companies have to look beyond the finance department and leverage their sourcing expertise to have a successful transition to IFRS 16.

This blog discusses how Procurement function and technology can act as key enablers for successful IFRS 16 transition and compliance.

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Procurement Digitalization has two approaches: All or Some

Selective technological interventions to address operational inefficiencies can also be termed as “Digitalization” -- although in a manner that is more of a means to an end i.e., a good starting point towards complete overhaul of systems and processes.

Read more to find out how our procurement community defines procurement digitalization.

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Importance of Buyer Feedback in Office Fit-Out Procurement Decisions

The focus of construction project management is entirely on meeting technical specifications, schedules and budgets, as service quality is generally ignored. Whereas buyer feedback can help in considerable improvement of a project success.

Read more to understand the importance of buyer feeddback in procurement decisions.

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Poll: Sourcing Managers Expect Annual Cost Savings of up to 5 percent

We ran a poll among users of Beroe LiVE, a community of thousands of Procurement decision makers, to find out their expected percentage of cost savings in their respective spend areas for the financial year 2018.

Find out more on the insights gathered from this poll.

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Five Procurement "Pain Points" solved by on-demand market intelligence Procurement teams always run a tight schedule. And amidst the constant factor of time-crunch, gathering intelligence will not be a priority as it is both labor and time-intensive effort. This blog discusses the five common "Pain Points" encountered by procurement teams. Find out more By following this link you will be redirected to a page owned by Beroe

Q&A: Procurement professionals are the ‘ears and eyes’ of a nation’s business activity 'What are the headwinds purchasing managers may face in the coming months? Find out more on our recent interaction with ISM to gather insights on how purchasing activities at a company level adds up as a macro indicator of a nation’s economic performance. Find out more By following this link you will be redirected to a page owned by Beroe

Stakeholder Management should not be ‘Us vs. Them’ It’s usually tough for business stakeholders to accept that someone else would be guiding, monitoring and controlling their own budget with regards to external spend. Hence, internal stakeholder management is of paramount importance for Procurement in order to win trust. Find out more on the importance and tenets of stakeholder management in procurement. Read more to find out ways to restructre the age-old practices of Capex procurement. Find out more By following this link you will be redirected to a page owned by Beroe

Six Steps to Transform Capex Procurement Capital expenditure (Capex) has always been on top of every CFO’s agenda. However, it has been observed that most of the times, policies or the assumptions for Capex budgeting and approval are not very clear in an organization. Read more to find out ways to restructre the age-old practices of Capex procurement. Find out more By following this link you will be redirected to a page owned by Beroe

Slow Transition from TCO to TCM approach in Fleet Management Companies across the world either outsource fleet leasing or perform in-house fleet management. In both cases, companies undertake a Total Cost of Ownership (TCO) approach to determine the lifetime cost of a vehicle. However, the Total Cost of Management (TCM) approach is lately gaining currency. This blog focusess on the paradigm shift in fleet management which provides the opportunity to reduce corporate spending. Find out more By following this link you will be redirected to a page owned by Beroe

Trade war or not: C-Suite expects Procurement to take lead in supply chain risk Procurement Organizations will be invariably get caught in a trade war as it would disrupt supply chains across the globe. A majority of CPOs around the world said they expect their procurement teams to take a larger role in managing risk in the next two years. Find out more on the growing importance of Procurement teams in managing supply chain risk for their organizations. Find out more By following this link you will be redirected to a page owned by Beroe

Extend payment terms without hurting suppliers If planned well, a firm’s supply chain can act as a source of inexpensive capital without having to ruffle the buyer-supplier relationship. Examine how best to extend the payment terms without stressing the supply chain. Find out more By following this link you will be redirected to a page owned by Beroe

Trade Under Siege: Checklist to prepare for trade risk The Beroe LiVE community of procurement professionals had voiced their topmost worry last year: Fifty five percent of those who were surveyed said that they are worried about global squabble over free trade. And their worry is coming true as trade is increasingly getting caught in the crossfire of geopolitics. Explore ways to prepare for trade deal risk and mitigation plans that can be adopted. Find out more By following this link you will be redirected to a page owned by Beroe

The Five Common Mistakes Category Managers Make When Using Cost Models Cost models may seem simple but there are enormous complexities involved. Sourcing managers should know when and how to use different types of cost models. Discover the five common mistakes category managers make when using cost models. Find out more By following this link you will be redirected to a page owned by Beroe

New Sourcing Challenge: Finding Supplies of Recycled Resins Major CPG, food and beverage companies across the world have awakened to the idea of using recycled resins, and are planning to increase its use before 2025. Conversely, the weak trend in global recycling rate has impacted the availability of recycled plastic volumes recently, indicating a possible shortage in recycle resin supply after 2020. Find out more By following this link you will be redirected to a page owned by Beroe

Beroe LiVE Poll: E-Auction is out of flavour, yet benefits linger The popular belief is that reverse auctions have gained acceptance and almost all Fortune 500 companies employ e-auctions. Take a look at the poll we ran among users of Beroe LiVE, in order to find out the popularity of e-auctions and to determine the percentage of an organisation's total spend channelled through e-auctions. Find out more By following this link you will be redirected to a page owned by Beroe

Procurement's Billion dollar impact Patient Recruitment and Retention is an important step in the drug discovery process, and billions of dollars are riding on the sourcing decision i.e., picking the right vendor. Read more to find out the criteria involved in choosing the right vendor for you. Patient Recruitment and Retention is an important step in the drug discovery process, and billions of dollars are riding on the sourcing decision i.e., picking the right vendor.Read more to find out the criteria involved in choosing the right vendor for you. Find out more By following this link you will be redirected to a page owned by Beroe

Sourcing in the Age of Distraction As their profile rises, Procurement managers could find it tough to manage the surge of incoming marketing and sales reachouts via plethora of channels. It's not always easy to locate relevant, reliable and specific intelligence that fits the buyer's sourcing context. Find out more By following this link you will be redirected to a page owned by Beroe

Beroe LiVE Poll: Spend Analysis helps trim costs up to 5 percent Spend analysis can rein in the overuse of maverick buying. However, procurement teams need to be operationally ready to access the full potential of the process. Take a look at the results of the poll we ran amongst users of Beroe LiVE, a community of thousands of Procurement decision makers, about how much cost savings they achieve through spend analysis exercises. Find out more By following this link you will be redirected to a page owned by Beroe

Beroe LiVE Poll: Interoperability is the prime reason for choosing an S2P solution The rising demand for the automation of procurement processes will drive the growth of eProcurement software in the coming years. We ran a poll among users of Beroe LiVE, a community of thousands of Procurement decision makers, to find the most important factor for choosing an S2P supplier. Read more to identify the challenges, opportunities and solutions to choosing a vendor Find out more By following this link you will be redirected to a page owned by Beroe

Brexit, Catalonia, NAFTA: checklist for staff relocation Brexit vote, Catalonia crisis and dispute over trade deals such as NAFTA lead to lot of business uncertainty, especially on the staff relocation front. In such uncertain times, it is better for sourcing managers to keep a ready checklist. Find out more By following this link you will be redirected to a page owned by Beroe For further information on Commodities please click here

Use of these links will take you away from the CIPS website to internet sites maintained by third-parties. You assume sole responsibility for the use of all third-party links. CIPS provides these links as a convenience and accepts no responsibility for content, errors, omissions, or inaccuracies.

Infographics/Videos

Business Intelligence software: problem of plenty

Multiple products in the market often causes dilemma of choice for sourcing managers. And not just that: companies will have to overcome the challenge of cross-organizational collaboration for successful BI implementation.

View the infographic to know more on the tenets of BI software implementation.

Infographic - business intelligence software

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Pointers to Identify CAPEX and OPEX The struggle to manage financial accounting for Opex and Capex might seem to be the hardest job for organizations, but there are many other challenges in managing Capex. This infographic provides pointers to differentiate between Capex and Opex spend. By following this link you will be redirected to a page owned by Beroe

Battery Shock: The Brewing Battle for Nickel Supplies 'With the growth of electric vehicles, supply shortage is expected in the Class 1 Nickel market. Stainless steel producers may have to compete with battery makers for supplies of Class 1 Nickel. Know more on the supply demand situation of Nickel and find out ways to overcome the crisis. By following this link you will be redirected to a page owned by Beroe

Demystifying the cost structure of management consultants As there is no single global standard, Halal compliance and supplier selection can emerge as a sourcing challenge. Find out the challenges involved in Halal certification for cosmetic products. Globally, companies on an average spend more than $250 billion on management consulting. Consultants, especially the tier one firms, usually do not disclose their cost base, leading to opaque fee structure. Find out the cost structure of management consultants and get a better hand in negotiations. By following this link you will be redirected to a page owned by Beroe

Multiple Halal certifications may lead to sourcing challenges As there is no single global standard, Halal compliance and supplier selection can emerge as a sourcing challenge. Find out the challenges involved in Halal certification for cosmetic products. As there is no single global standard, Halal compliance and supplier selection can emerge as a sourcing challenge.Find out the challenges involved in Halal certification for cosmetic products. By following this link you will be redirected to a page owned by Beroe

Fighting Fraud: Yet another battle for travel managers Global business travel spend, valued at $1.3 trillion in 2016, is expected to touch $1.6 trillion by 2020. Find out more on how to fight corporate travel frauds and mitigate the risk. By following this link you will be redirected to a page owned by Beroe

5 Frequently overlooked catering services costs Read more to find out the 5 frequently overlooked catering services costs you should put a cap on. By following this link you will be redirected to a page owned by Beroe

Tequila - How to spot a coming crisis? Agave, the feedstock used to make the famed Tequila drink, has been in short supply since 2016, resulting in higher prices. The tequila market follows a boom and bust cycle. In order for effective supply management and also not to be caught off guard, sourcing managers need to be aware of the tell-tale signs of a coming crisis. By following this link you will be redirected to a page owned by Beroe

Procurement: Glass Ceiling Cracked, not Broken Although women comprise 37 percent of the managerial cadre across procurement organizations, the gender gap widens as one moves up the hierarchy. Find out more interesting facts on Gender gap in this infographic.

P-Cards help reduce processing costs of Purchase Orders Companies with established P-card programs are now shifting their focus to medium-spend transactions, which for now are predominantly manual or paper-based processes. Check this infographic to find out more interesting facts on P-cards.

Battery Shock - The chase for lithium Thanks to explosive growth of electric vehicles and other gadgets, the share of batteries will continue to increase in the coming years leaving less room for other end uses, especially Glass. Read More For further information on Commodities please click here

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Special Reports

World’s Top 50 Procurement Organisations The report discusses the methodology of the Best-in-Class Index and lists out the World’s Top 50 Procurement Organizations. Check out if you are one of the top 50 procurement organizations in 2018. The report discusses the methodology of the Best-in-Class Index and lists out the World’s Top 50 Procurement Organizations.Check out if you are one of the top 50 procurement organizations in 2018. Download full report

2018 Forecast Report The 2018 procurement categories forecast report compiled by Beroe’s “Customer Success Leads” gives a flavour of hard-to-find market information, which can be effectively used to formulate sourcing plans. Download full report

What Worries Procurement Professionals? This report features the viewpoints of procurement professionals who play an important role in enabling businesses to run efficiently. Read more By following this link you will be redirected to a page owned by Beroe

Sourcing and Supply Chain – It’s not what it used to be This report explores the new developments in Sourcing and Supply Chain. Read more By following this link you will be redirected to a page owned by Beroe For further information on Commodities please click here

Use of these links will take you away from the CIPS website to internet sites maintained by third-parties. You assume sole responsibility for the use of all third-party links. CIPS provides these links as a convenience and accepts no responsibility for content, errors, omissions, or inaccuracies.

White Papers

Engagement with FBAP providers can bring cost savings to shippers The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. The ever increasing complexity of supply chain demands visibility, which is causing procurement managers to seek possibilities through freight bill auditing. Freight Bill Audit and Payment (FBAP) help sourcing managers to gain visibility and improve process efficiency. Discover how engagement with FBAP providers can bring cost savings for shippers. Read more By following this link you will be redirected to a page owned by Beroe

Best Practices while Sourcing Point of Sale Materials The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. Companies that are currently cutting budgets on trade marketing activities could focus on cost savings while sourcing Point of Sale Materials (POSM). The crucial task involves choosing the right set of suppliers. This whitepaper talks about choosing the right set of suppliers and efficiently procuring POSM for trade promotional activities Read more By following this link you will be redirected to a page owned by Beroe

Clinical Investigator Payment Best Practices

The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave.

Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach.

Managing the investigator payment is one of the most challenging aspects of running a clinical trial. However, only therapeutic area is considered by more than two-thirds of the companies while determining investigator payments, which is not the ideal scenario.

Find out the importance of Fair Market Value evaluation in ensuring fair practices and avoiding briberies which could damage the process of running clinical trials.

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An Analysis of Clinical Development Benchmarking Practices

Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach.

'With timely recruitment, continuous monitoring, and shorter cycle times being key to the success of a clinical trial, benchmarking has become more important to the industry, and the practice has a large impact on cost, quality, timelines, and a sponsor’s brand name.

This discussion analyses a few benchmarking activities practiced by pharma industry.

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Internet of Things: What it means for the Procurement of Industrial Pumps The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. Capital equipment as a category has always strived to become efficient predominantly through reduction of the total cost of ownership. This whitepaper discusses the impact of the innovation of the Industrial Internet of Things (IIoT) on the pumps' procurement category and how it influences the TCO of pumps to reduce costs. Read more By following this link you will be redirected to a page owned by Beroe

IoT Ushers in Predictive Maintenance of HVAC Systems The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. HVAC maintenance usually makes up a big chunk of a procurement organization’s Indirect spend. Internet of Things (IOT)-based predictive maintenance could be a game changer within the HVAC industry. Explore the feasibility of implementing smart technologies in HVAC maintenance to gain a competitive edge. Read more By following this link you will be redirected to a page owned by Beroe

India: Emerging sourcing hub for excipients The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. The Indian excipient market is growing at 10-12 percent as against the global growth rate of 5-7 percent. The global excipient manufacturers are also shifting towards India via different entry strategies - joint venture, new manufacturing facility, and acquisition of domestic suppliers. Read more By following this link you will be redirected to a page owned by Beroe

Spare parts standardisation and its impact on purchasing leverage The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. Parts standardisation replaces numerous similar parts with one common part, resulting in the purchase of common parts in large quantities because they can be used across multiple applications/equipment. Read more By following this link you will be redirected to a page owned by Beroe

Social Media service providers: addressing the problem of plenty The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave. Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. The current supply market for social media management is very dynamic and diversified. Sourcing managers must evaluate various options by conducting a detailed comparative analysis -- that’s how they can surf the wave.Find out more on the options available to a buyer to source social media services and conduct a detailed comparative analysis of each approach. Read more By following this link you will be redirected to a page owned by Beroe

Could Xanthan Gum be a provisional replacer of Guar Gum in oil well drilling? By the time the market for guar gum revives to meet the demand from the oil sector, it is expected that xanthan gum, which is the best sustainable substitute, will replace guar gum transiently. Read more By following this link you will be redirected to a page owned by Beroe

The role of Intelligent Virtual Assistant in transforming customer experience Artificial Intelligence (AI) solutions have transformed the way business units function. One such AI solution, Intelligent Virtual Assistant (IVA), has had a major positive impact with respect to customer experiences/customer interactions in contact centres. Read more By following this link you will be redirected to a page owned by Beroe

Making the case for IoT based maintenance in HVAC Systems Given the high importance of maintenance in HVAC systems, HVAC maintenance usually makes up a big chunk of a procurement organizations’ indirect spend. This whitepaper explores the feasibility of implementing smart technologies in HVAC maintenance and is intended to create awareness among buyers to gain a competitive edge. Read more By following this link you will be redirected to a page owned by Beroe For further information on Commodities please click here

Use of these links will take you away from the CIPS website to internet sites maintained by third-parties. You assume sole responsibility for the use of all third-party links. CIPS provides these links as a convenience and accepts no responsibility for content, errors, omissions, or inaccuracies.

About Beroe

Beroe helps create the business advantage for Procurement Organizations across the globe. By providing customized market intelligence to sourcing managers, we reduce the time spent on information gathering and analysis. By using market intelligence provided by Beroe, procurement organizations can devote attention to category management, thereby, shifting the emphasis from cutting costs to adding value.

To learn more about our comprehensive market intelligence services, please visit www.beroeinc.com

Click here for more information on Beroe LiVE, our FREE on-demand procurement intelligence platform with intelligence on 260+ categories and ratings on 25,000+ suppliers

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