Procurement Insights
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 […]
To thrive is present competitive market, organisations are trying their best to catch up with latest Procurement Trends.By embracing the latest procurement trends, organisations and making their procurement function more efficient, lowering the total cost of procurement and making the procurement function more customer satisfaction oriented. Recent advancement in technology bringing improved application in almost […]
MRO is Maintenance, Repair and Operations items, which includes Supplies consumed in the production process but do not either become part of the end product or are not central to the firm’s output. These include consumables (such as cleaning, laboratory, or office supplies), industrial equipment (such as compressors, pumps, valves) and plant upkeep supplies (such as […]
Visibility, Transparency & Collaboration – Three Basic Tools to Procurement Cost Savings Costs Savings is the number one priority of CPOs. Growing pressure for procurement teams to reduce costs is driving most of the procurement organisation. Today’s Procurement Officers are burning the midnight oil to find new ways to reduce cost. They are looking for […]