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As procurement processes become more complex, different methodologies have emerged to simplify and augment them. Management of a procurement portfolio is one such methodology that takes on a holistic approach to procurement management.

To understand how it supports the procurement process, we first have to answer the question, “What is procurement portfolio management?”. With its objectives in mind, the next step is understanding the procurement process to determine how it is impacted by portfolio management.

Understanding the role of procurement portfolio management in the procurement process requires an in-depth look at the core solutions offered by it, including strategic alignment, risk management, resource allocation, and monitoring and evaluation.

Finally, understanding how to implement procurement portfolio management in a step-by-step manner is also crucial.

Enhance your procurement process with portfolio management

As the procurement landscape changes, different methodologies for managing the procurement process emerge. Management of a procurement portfolio is one such process that can enhance the process of procurement with better strategic alignment, risk management, resource allocation, and monitoring and evaluation solutions.

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