Marketing & Advertising: Unlocking the Door to a More Profitable Partnership
October 28, 2019
Procurement and marketing are both critical to an organization’s success. But the metrics and the objectives used by each department are often completely different. Marketers look for ways to execute effective tactics and campaigns and may not use the same definition of “value” as the procurement department, which tends to focus on bottom-line savings.
But strategic collaboration on both sides will only strengthen the internal relationship between marketing and procurement, making them both more effective in the long run. Procurement’s expertise with purchase planning, supplier research, value analysis, and contract negotiation would surely benefit marketers’ purchasing behaviors. By increasing the harmony between these departments, you can build identification and trust among your marketing and advertising team’s external agencies and suppliers.