All posts tagged Procurement

Role of the Procurement Function

Procurement Departments are created for the understanding and translation of customer needs and requirements to the selection of capable suppliers, to realize the cost-effective acquisition, receipt, and payment of vital inputs and raw materials. Factors impacting the Total Cost of Ownership such as quality, efficiencies, delays, stock-outs, obsolescence and carrying cost are heavily emphasized in the procurement discipline. Procurement Personnel must master 3 critical…

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The Benefits of Cashless Procurement Systems

The world is evolving day by day, and supply chains are becoming more complex. The topic of cashless systems has been at center stage for some time now. Cashless procurement systems are now no longer something of a distant future but one of sudden reality. The following are benefits of cashless procurement systems: 1.) Reduction of corruption: These systems eliminate tax…

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