Digital companions are not just for personal assistants anymore. They are also used for business purposes to help employees with their day-to-day tasks. In procurement, digital companions can be used to help users with their purchasing decisions by providing them with real-time data insights to make accurate decisions. For procurement professionals, it is important to …
Supported by the right tech tools and practices, strategic sourcing can help with essential procurement process optimization, make sourcing decisions that ensure your company’s needs are met, and develop a strong and diversified supplier base for your company. And in doing so, you’ll protect your company against risk and give it the ability it needs …
WHAT IS STRATEGIC SOURCING AND WHY IS IT IMPORTANT? Read More »
You might think that budget management is a fairly straightforward task. You set a budget, monitor your spending, and adjust if necessary. It won’t be that difficult, right? Wrong. Even the most diligent businesses find it challenging to manage their budgets effectively. And it gets even harder when you have multiple departments and locations across …
HOW TO MANAGE YOUR ORGANIZATION’S BUDGET USING THE BEST BUDGET MANAGEMENT SOLUTIONS Read More »
International procurement policies are more important than ever in today’s global marketplace. Globalization has created a complex web of suppliers, customers, and intermediaries, and it can be difficult to know exactly where you stand and what you should expect from your foreign partners when doing business in foreign markets. To make sure your company gets …
INTERNATIONAL PROCUREMENT POLICIES TO LOOK OUT FOR Read More »
This article will go through an introduction on how effective supply chain management (ECM) can be used to increase efficiency, and profits and reduce costs. It aims to illustrate that by having an efficient supply chain, companies can be able to achieve their business objectives easily and efficiently. In the past years, organizations were unable …
KEY FEATURES OF EFFECTIVE SUPPLY CHAIN MANAGEMENT Read More »
While it’s important to understand the differences between procurement and purchasing, there’s a reason the two terms are often used interchangeably: they are closely related and can have overlapping responsibilities depending on your business model. The key difference between the two lies in where you find or locate your goods or services and how you …
PROCUREMENT VS. PURCHASING: WHAT IS THE DIFFERENCE? Read More »
Procurement is an essential part of every business, regardless of size or industry. After all, how can you create and sell your product if you don’t have the raw materials or components to do so? Procurement involves making sure those raw materials get from their supplier to your business in the best way possible, and …
10 TIPS FOR CREATING A SEAMLESS PROCUREMENT PROCESS Read More »
Procurement plays a critical role in the success of any business. Many companies are now realizing that their procurement processes have become more important than ever before. In fact, the market is increasingly becoming competitive and the need to make sure that you are doing everything possible to meet your customers’ needs is much more …
