Opinion- Procurement: A catalyst to economy and Infrastructural development

A company that fails to manage its supply chain at a strategic level is unlikely to meet its business objectives effectively. (Chris Freeman-CEO of Logic).

I must, first of all, give glory to God almighty that make me a procurement and supply chain management professional. Why is professionalization of procurement and supply chain management so important that makes me put up this piece of write up? Continue reading “Opinion- Procurement: A catalyst to economy and Infrastructural development”

5 Ways Procurement Can Transform Stakeholders into Advocates

Bottom-line savings go hand-in-hand with top-line profits—and more and more enterprises are realizing that the best way to get a firm grasp on both of these is through sourcing. While the function has long been regarded as a vital internal resource to increase savings, many companies view procurement through a tactical lens, as something that exists primarily to manage negotiations at the end of a … Continue reading 5 Ways Procurement Can Transform Stakeholders into Advocates

Report: SMEs are adopting procurement earlier, but still as reactionary measure

Dive Insight: As one who works with a range of technology-driven early stage and small businesses, I can confirm, albeit with a smaller sample, that SMEs are indeed looking at procurement as an important element of their businesses. While surveys may look at companies incorporating procurement using transactional benchmarks such as a number of suppliers and invoices, it goes deeper than that. SMEs are focusing … Continue reading Report: SMEs are adopting procurement earlier, but still as reactionary measure

The Procurement Process and Contract Management: The Key to Managing Risk

It’s no secret. Organizations are losing millions due to cost volatility, supply disruption and non-compliance fines. An ever-increasing pace of business and rising levels of uncertainty within our global economy have brought about an alarming amount of potential pitfalls for procurement leaders. This means risk management has become Continue reading “The Procurement Process and Contract Management: The Key to Managing Risk”

Tech Upgrades Delivering Procurement Efficiency Boosts

Looking for a common thread between supply chains and procurement operations today can be challenging: As companies’ efforts reach global scale and incorporate complicated relationships between third parties, each one takes on its own unique characteristics. However, sourcing professionals must identify the hallmarks of success in the field if they want to ensure their own organizations end up on the right path. Continue reading “Tech Upgrades Delivering Procurement Efficiency Boosts”

Research shows SMEs struggle without a procurement function

New research by E-procurement provider Wax Digital reveals that procurement is just as vital for SMEs as it is for large organisations, with formal procurement processes serving an equally critical role in helping them reduce costs, keep control of spend and eradicate labour intensive processes. Continue reading “Research shows SMEs struggle without a procurement function”