In procurement, "spend under management" is defined as:
A) A macro-measure of the total cost of procurement.
B) Amount of cost avoidance.
C) Engaging in forward buying in order to obtain items at a lower cost.
D) Greater efficiencies in the various aspects of purchasing and procurement.
E) Total amount of spend that is influenced by procurement.

Question

Quizplus · Accepted Answer

"Spend under management" refers to the total amount of an organization's expenditure that is influenced or controlled by the procurement function, ensuring that it is managed efficiently and effectively.

In Procurement, "Spend Under Management" Is Defined As