Tag: online procurement system
A firm looks to cut spending. They could start by downsizing. Clearly, manpower could be the first place they’d wish to target. Next in line presumably would be capital …
For medium and large scale industries, procuring materials has always been a large scale operation. When it comes to procuring goods and services, the traditional business route is to …
Today, procurement is an important strategic function that supports nearly all of the organization’s business operations and has an impact on organizational expenditure. Every organization wants to make its …
Supplier relationship management is one of the most important mandates of the procurement function of any organization, part of which is implementing best practices in supplier management. In this …
Reverse auction, the process by which an organization purchases its raw materials or supplies, is being adopted by more and more organizations today. A system where the traditional roles …
In a previous post titled ‘What Hercules’ second labor teaches us about procurement fraud,’ we equated procurement fraud to Hydra, the many-headed monster that Hercules had to slay and …
Before we get into procurement fraud and what we can learn about it from the second labor of Hercules, let’s take a look at the second labor itself. To …
In the previous post titled ‘Bargaining Power of Suppliers – What Does It Mean for Your Business,’ we saw what bargaining power of suppliers meant and what causes it. …
In part one of this series, we looked at several drivers of supplier risk. In this post, we’ll look at some ways to mitigate this risk. We listed down …
Online procurement systems help you automate the procurement cycle of your organization. This article will tell you why you need to automate your internal procurement cycle and expound the …
