procurement process

Future of Procurement

Posted on by forceintellect
Future of Procurement
What does the future of procurement look like? Let us look at how digital transformation and technology advancements are likely to shape the future of Procurement. Procurement has started to get recognition as a strategic function that provides a competitive edge. With Procurement KPI and measurement metrics being implemented religiously, organizations have become conscious, that streamlined procurement processes can significantly improve their profitability.  Organizations have therefore shifted their focus from manual sourcing and demand management to a more digital, automated and technolog...
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9 steps of effective Procurement Process

Posted on by forceintellect
9 steps of effective Procurement Process
9 steps of effective Procurement Process The procurement process involves a series of activities undertaken to ensure the required materials are available at the right time in the right quantity. Procurement is a strategic business function which impacts the operations, supply chain, quality, cost and profits of most business organization. Hence it is crucial to have an effective Procurement Process. An effective procurement process involves understanding & consolidating the procurement needs of all departments/units of an organization, finding out suitable vendors, evaluating their te...
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