Why Real Estate Needs E-procurement
Despite all the talk about e-procurement and its benefits, many real estate businesses are somewhat reluctant to adopt e-procurement solutions. Fear over a lack of accuracy in due diligence, added costs, and complexities in deals are just some factors that prevent the widespread adoption of e-procurement in the real estate industry. However, reality paints a […]
Why Use Procure-To-Pay (P2P)?
If you run any business – from traditional to digital to a blend of each – it is essential to understand the procure-to-pay process and the automated systems that can help harness it. From the time a product or service is ordered until an invoice is paid, your procurement and accounts payable teams should be […]
Hospitality Procurement: Top 5 Common Problems
Procurement is vital in the hospitality industry. Its purpose is not just to effectively supply the company but also to create value through superior quality goods and services. Hospitality businesses, like all companies that acquire products and services in the modern economy, require proven, cost-effective solutions to their problems. In this article, we’ve listed the […]
What is The Role of Procurement in Hospitality?
It’s hard to overstate the importance of procurement in hospitality businesses. Hospitality procurement is mainly related to the purchase of goods and services for restaurants, resorts, and hotels. This industry has particularly unique requirements that are not common in other industries. There are four main aspects to businesses in this industry: Buying goods and services, […]
How to Choose the Best Procurement Software For Small Businesses
Procurement is an integral part of every small business. It is an essential component of any firm, from sourcing to gaining and sustaining supplier partnerships. However, selecting the finest procurement tool for small businesses can be difficult. Given the range of options available, it is necessary to take a comprehensive approach to acquire procurement software […]
Best Strategies to Manage Hotel Supplier Relationships
Relationships with suppliers are important much more than sealing great deals. Supplier Relationship Management (SRM) is a tough subject that requires the creation and maintenance of long-term connections in order to achieve long-term profitability. A reliable supplier relationship reduces the burden and worry of having to renegotiate contracts or constantly bring in new suppliers. That’s […]
2023 Top E-procurement Solution Providers
In today’s tech-driven era, where businesses are racing towards meeting customer demands, cloud-based procurement solutions have become a necessity and by no means a luxury. E-procurement solutions, such as those offered by the 2023 Top E-procurement Solution Providers, help companies automate and integrate their process from recruiting suppliers, placing orders, loading inventories, and delivering goods […]
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 […]
