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PROCUREMENT AFTER PANDEMIC

After the pandemic, procurement has an unprecedented opportunity to cement its new strategic role and define its own destiny. Here are 10 best practices which will help you on the journey to smarter, better procurement. 1.    DIGITISE SPEND MANAGEMENT TO DRIVE ADOPTION 2.    AUTOMATE ACCOUNTS PAYABLE 3.    DIGITISE END-TO-END BY INCLUDING SUPPLIER MANAGEMENT AND PAYMENTS 4.    LOOK HARD AT…

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Procurement 4th stage called Achieving a competitive advantage through business innovation

Many CPOs aim to reach Stage 4 but fail to recognise the challenges they face. For a start, the technological maturity of the organisation – and the function – will vary. Some businesses are still extracting data manually from emails and spreadsheets. Others have embarked on digital transformation, with varying degrees of success. A few have begun automating the back office.Yet too often,…

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Use an e-Procurement software

Getting your hands on digital procurement software is one of the quickest ways to boost efficiency and success. Using an obsolete procurement system negatively influences employee productivity, as well as the organization’s bottom line. An automated purchasing system, on the other hand, allows procurement teams complete control and visibility into the purchase order cycle. This form of automation…

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5 tips to improve your procurement process efficiency

5 tips to improve your procurement process efficiency

If you are a procurement professional, then one of the major challenges that youwould be facing today is process inefficiency. With the increasing competitionand the ever-changing global climate, the need to be efficient is more importantnow than ever. Sure, an improvement in process efficiency also has its host ofbenefits – increased cost savings, reduced turnaround times, and better…

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Procurement in 4 Stages…

As complex as procurement is, Coupa believes it can usefully be categorised into four stages: STAGE 1 Tactical and operational At this stage of maturity, procurement is primarily concerned with ordering and invoice processes. STAGE 2 Efficient sourcing The introduction of strategic sourcing, contract management and supplier management deliver significant savings across the…

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Procurement Professionals should read this…..

In essence, a procurement personnals needs to be able to answer five fundamental questions:• How big is the spend?• What am I buying?• Do I have full visibility and control over everything that I am buying?• What are our contracts – and when do they expire?• Who are my stakeholders – and what outcomes do they want?Answering such questions will help Procurement personnals realistically assess…

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Procurement functions in Pandemic

At the height of the pandemic, many procurement functions were working around the clock to source mission critical materials, products and services. “Knowing where your materials were was the question that every procurement professional needed to be able to answer,” says Nico Bac, formersenior director of procurement at Procter& Gamble. “Technology was the solutionbut, in many instances, there…

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Procurement & Pandemic

Procurement & Pandemic

“Procurement was evolving into a more strategic role before the pandemic but, after helping organisations survive the crisis, the function has more credit and more attention from executives than it has ever had,” says Michael van Keulen, CPO of Coupa, a leading global technology platform for business spend management. “Everyone’s eyes were on procurement. Stakeholders who didn’t really know what…

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Value based procurements

Solid relationship building skills will go a long way when looking to set up value-based procurements and improve the bottom line of the company. thats what i have to use my skills, experience & abilities to make Company achieve the goals & targets

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Fixed Assests

When people/employee become Fixed Assests for you life/company dont treat as consumables or find alternatives to replace… Agree or not??? #people #fixedassets #employee #employers #consumables #life #quoteoftheday

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Incoterms and responsibilties on one paper

Incoterms