Category Management is the concept of the Retail industry that helps for better management as…
Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the organization receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and locations are compared. Procurement involves value analysis, supplier market research, negotiation, contract administration, and inventory control.
Demand Planning is always at the core of the any Supply Chain. This pandemic has changed the all rules of the games of Demand Management. Lets checkout how Demand planning to be done in New Normal 2021.
In one of the research, 53 percent of CPOs acknowledged that data visibility and analytical…
As Digital transformation in procurement sweeps across the globe, not limited to fortune 500 companies, most of the small and medium organizations are looking to use technology to improve the process efficiency and reduce cost across business units. Procure to Pay is nowhere an exception in the transformation.
To make wise purchasing decisions, improve the transparency and manage the maverick spend are some greater potential of Digital software. Procure to pay has a huge impact in the organization, as it develop building trust and improved communication with our key suppliers.
It’s really important to transform digitally, but at the same it’s imperative to know how and what to do while we transform, as it direct connect with organization vision and cost.
This article will outline the challenges, pitfall, and some best practices when we step ahead for Digital transformation of Procure to pay system.
Procurement will be considered as a value adding function if the approach is customized and…
Tactical Buying has been evaluated in the evolution cycleof the Procurement function and it is complementary to Strategic Sourcing Function.