Procurement benchmarking helps organizations evaluate and compare their procurement performance against industry standards. The process involves analysing procurement practices and outcomes in terms of cost, quality, and efficiency to identify areas for improvement. This can be done internally, by comparing performance across different teams, or externally, by benchmarking against other companies in the same industry.
TrinityP3 offers a range of resources on procurement benchmarking.. These resources can help organizations to identify and address procurement inefficiencies, optimize their procurement processes, and ultimately drive cost savings and improved value for money.
You can find more information on our marketing procurement advisory practice here or explore more details and insights below.