Supplier Relationship Management: Benefits & Importance
As supply chains become more complex, the drive to lower prices means that margins are less. Businesses are shifting to supplier relationship management (SRM) as a structured and systematic method for procuring the goods and services they require to preserve profitability and achieve success. In fact, numerous companies of all sizes in various sectors have […]
Purchasing & Procurement: Top 5 Cost-Effective Tips
Handling procurement for different levels of a company may be complex, especially when you’re dealing with variable budgets and varying requests across the board. To help you keep on top of prices, we’ve compiled a list of our top 5 cost-effective tips on purchasing and procurement right here in this article. Photo by Amy Hirschi […]
AI Procurement: What Is It & How Does It Work?
Many companies across different industries use ML & AI ever more every day. Procurement is no exception. Today, companies utilize AI procurement to monitor supplier performance in real-time, identify risks, classify spending, and automate routine tasks such as invoice processing. However, there are many players on the market that don’t know what AI procurement is […]
Why’s Strategic Sourcing Essential In Procurement?
As companies continue to utilize the power of globalization to improve their performance, the importance of sourcing products and services from vendors has become unavoidable. Procurement is also evolving into a more strategic role connected with the firm’s aims and objectives. Furthermore, challenges like financial and political unpredictability, technological disruption, and other factors have made […]
Importance Of Procurement Strategies For Aviation Industry
In a dynamic and turbulent world and a time when global market competitiveness is expanding, an effective procurement process for enterprises in the aerospace industry is becoming more vital as well as difficult to attain. The sheer complexity of many global supply networks and the tendency to outsource to other countries expose supply chains as […]
Near Future Supply Chain Management Technology Trends
Investment in supply chain technologies has risen dramatically due to the rising global need for autonomous solutions. In 2022, businesses have begun to utilize technology-driven models throughout their operations to properly equip for supply chain management risks. Pay attention to these supply chain technology trends in 2022 and beyond to improve your company’s productivity and […]
Common Mistakes In E-Tendering & How To Avoid Them
In today’s competitive market, many companies have no choice but to speed up their operations with automation. That’s why e-tendering solutions have been on the rise. There are, nevertheless, several common mistakes in e-tendering that bidders should be aware of and avoid. Some of these may appear trivial and insignificant, however, they could prove decisive […]
What’s An E-Procurement Service Provider?
Most procurement teams are currently fighting to keep up with rising market volatility and maintain a competitive advantage. However, the majority of businesses are still utilizing older, legacy ERP systems, which are falling behind the competition. On the other hand, e-procurement service providers on the market help companies across various industries meet their policy requirements, […]
How to Streamline Your Procurement Process
Automating procurement is a simple way to boost procurement teams’ efficiency. It’s also a significant step toward transforming that role from technical operator to strategic driver. Modernising procurement procedures to take advantage of new technology is a difficult task, but teams can swiftly put together a cutting-edge solution with the right plan in place. Of […]
