New technologies in purchasing

The resilience of the supply chain to threats that may occur along the way of the execution of the entire process is an unquestionable foundation. No matter how complex a company's structure or how extensive the entire process is, proper supply chain management will not only improve the quality of the services provided, but also protect the company from potential financial losses....

The Source to Pay (S2P) process is one of the most complex processes in the day-to-day operations of companies. This is because it encompasses the entire lifecycle of a purchasing transaction - from supplier selection to payment for delivery. And despite increasing levels of automation, it is still prone to risks of inefficiency, human error and fraud. On this occasion...

The future of purchasing and supplier management departments will depend on their ability to deliver tangible value to businesses. The ongoing industrial revolution is set to deliver greater efficiency, innovation, higher levels of customer service and the best possible match to specific customer needs, ultimately improving a company's bottom line and level of competitiveness. In the consensus view of managers and...

Supplier management is the area traditionally requiring the most human input. However, as is the case in other departments of a company, innovative technological solutions allow for the optimisation of the efficiency and involvement of purchasing staff. Let us therefore take a look at the benefits that digitalisation of this area can bring. Increasing the efficiency of procurement processes Research shows that digitising the department...

The focus on USP (Unique Selling Proposition) is modifying the mindset in many organisations. Improving speed to market, product innovation or providing superior customer service are examples of the challenges competing companies face. Implementing USPs requires coordinated efforts in all areas of a company's operations - including the management of...

We have covered the use of IT systems in building a purchasing strategy and ongoing supply chain management several times on our blog. However, an IT system can also be used as a tool to help prepare for business negotiations with suppliers. And for at least two reasons. The first is the ability to collect and...