E-Procurement in the Textile Industry: How it Can Help

It’s not unusual to buy a T-shirt in the United States only to find out it was created in Malaysia, Vietnam, or another faraway country. It was a difficult task in and of itself to get that item of clothing to the North American market. Furthermore, obtaining the materials required to create the product was not always simple. But now, thanks to the emergence of modern procurement solutions, this has become the norm. If you don’t know how, keep reading the article.

How E-procurement Helps

Although it is a best practice to build thousands of supplier partnerships, how do businesses plan to manage these ties? Furthermore, how can they inspect the activities of every raw materials supplier with whom they do business?

The solution appears to be e-procurement and analytical techniques. According to a second Apparel piece, clothing brands require a way to collect data in real-time and uncover patterns that could flag problems before they happen.

Why not use analytics tools after shipments have been made? In other words, if businesses evaluate “out-of-date” data, they won’t be able to respond to situations in a way that will ultimately satisfy customers who seek quick service.

Imagine being able to get real-time information from all manufacturing processes, spot a negative trend in a single facility, and then instruct the manufacturer to change its process accordingly.

These insights aren’t just for a single individual to profit from. Sharing statistical information with fabric companies, cotton growers, and other sources is one method to promote strong supplier relationships.

If a company is unaware of existing manufacturing conditions, its own operations may suffer, prompting the CEO to blame those who procure its goods.

Enterprises can manage connections, scrutinize activities, and authorize operations from the main hub or numerous locations using e-procurement platforms. Modern apparel firms require this level of operational flexibility to survive.

Bottom Line

When used correctly, technology can be a fantastic tool for solving problems. It provides a large tent with a plethora of exciting possibilities. Wherever possible, businesses and industries should take advantage of the tools at their disposal. But, they need to find a piece of tech that suits their operational needs and budget.

Fortunately, we at Penny provide a wide range of e-procurement solutions that can be tailored to your needs and put you on a fast track to success. Hence, don’t overthink it and please contact us right now.



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Frequently Asked Questions

Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.

  • Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc 
  • Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.  
  • History and records of requests and purchases can be extracted and tracked easily via the platform. 
  • Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
  • Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
  • penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.

Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.

Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.

Yes. If your product search finds no results, you can submit a non-standard request.

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