- 1. Identify the inefficient processes/bottleneck in your organizations procurement cycle and work to remove them
- 2. Rationalize your supply base. Some place you have to increase vendor; some places you have consolidate vendors to get best from your suppliers
- 3. Improve supplier relationship, establish fair practices with supplier
- 4. Standardize your procurement processes. Implement centralized or selective decentralize purchasing.
- 5. Utilize Global Sourcing to increase your supply base reach
- 6. Embrace technology to improve time management and transparency
- 7. Develop Strong Risk Management Policies
- 8. Train/educate your team
Categories
Categories
- 1_Procurement Insights (28)
- 2_Short Notes (51)
- Finance (2)
- Import (1)
- Logistics (1)
- Manufacturing Process (3)
- Material (14)
- Packaging (2)
- Procurement (18)
- Cost Savings (2)
- Global Sourcing (1)
- Inventory Management (5)
- Forecasting (1)
- Negotiation (3)
- Process (1)
- Strategic Sourcing (2)
- Vendor Evaluation (3)
- Products (4)
- Quality Management (6)
- Stocks (1)
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