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Procurement function is the center of attention because Procurement Savings have an immediate effect on the corporate result. Time and again, organisations complaints that they do not have any method to determine the performance of procurement function or say the Procurement Savings that can be related to companies profitability. I have tried here to relate […]

The concept of strategic sourcing was first introduced in 1994 by Toshihiro Nishiguchi Japanese Supply Chain Expert. He created a common strategic sourcing process based on multiple manufacturers across Japanese, German, and U.S. markets He was particularly focused Toyota Supply Chain issues. Subsequently, Strategic Sourcing has always been a most discussed topics among Procurement Professionals. […]

Be realistic -You will find a way! Never accept supplier price increase demand at face value. As a buyer Our job is to try to reduce and delay the impact of any price increase to our company. Next Ask for a face to face discussion regarding any proposed price increase demand from suppliers, Preferably at […]

Ignoring Supplier Relationship could shatter Supplier-Buyer bonds. A positive relationship between Supplier and Buyer is must to maximize value from business interactions. Why a sound relationships with supplier’s matter so much for successful procurement? Why You Need to focus on Supplier Relationship Management (SRM) It promotes collaboration between manufacturers and suppliers that ensures long-term benefits […]

Major portion of the business processes are repetitive, mundane jobs. Only few business functions need actual human intervention to get the work completed. Here comes the need of Business Process Automation (BPA). Business process Automation is defined as the digital automation of repetitive critical business processes. As per various studies, 90% of employees are burdened […]

In today’s highly competitive business environment  finding the opportunities for cost savings is possible through greater spend transparency, improved category management, more effective supplier relationship management, and extensive leveraging of data and analytics. Modern businesses are leveraging procurement technology to achieve these. To optimise the benefit Procurement Technology by enhancing and automating business solutions to both internal […]