Archive for April, 2019

Next Generation Procurement Model

The Procurement Function currently exists in an environment of ever-increasing technological advancements. Procurement Leaders are tasked with the responsibility of paving the way for transforming their operations to meet the demands of the modern business landscape. Currently, Procurement Function Models are fragmented, tactical focused, cumbersome, siloed, and labor intensive. The future requires the Traditional Core Competencies of: Category Management Supplier…

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Making a case for Procurement Automation

The Procurement Function is a vital part of the Supply Chain Mechanism, which is responsible for the acquisition of mission-critical inputs for the realization of business objectives. Even though procurement plays a pivotal role in supporting critical operations, managing spends, and mitigating supply risks, it often receives less regard than due. A close examination of Procurement Operations would reveal that…

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How to Manage Spend before it Starts

Managing Spend is a critical part of the Procurement Function. Spending in an ad-hoc manner often results in rush orders, overspend, and excessive inventories. Ensuring a robust, planned, budgeted and technologically equipped process will indeed yield the opposite effect. The following are ways to Manage Spend before it Starts: Leveraging RFQs. Ensuring that all major spend goes through a robust…

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