How technology holds the key to successful procurement leadership
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May 31, 2018
A company looking to diversify and grow invariably needs deployment of technology across functions and procurement is no exception. Strategic areas like demand management, inventory risk management, value engineering, quality/service level management, commodity management and integrated demand or supply planning needs to be complemented by modern technological frameworks.
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Tags: Supply Chain, Procurement, Management
Vision 2020: Taking procurement challenges in stride
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May 29, 2018
When we talk about procurement, we are well aware of the uncertainty that impacts this function, and the level of uncertainty is set to only increase in the coming few years. With the new industry dynamics such as supply chain localisation and return to re-shoring, overall business climate is moving at a rapid pace in the backdrop of continued volatility in both macro and micro economic environment. Thanks to sharp fluctuations in foreign exchange rates, commodity prices and continued changes in global regulatory and tax environment, global procurement leaders have a whole range of challenges flying in the face.
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Tags: Supply Chain, Procurement
Why Procurement Leaders Should Focus On Innovation and Creativity
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May 28, 2018
In the coming times, procurement will be more about sourcing ideas than sourcing raw materials, products and services. A company or business will no longer be just about delivery of products or services but about engagement of clients and stakeholders in new and innovative ways. That will be an inflection point for businesses and the change has already begun!
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Tags: Procurement, Leadership
Emerging Trends Shaping the Future of Procurement and Supply Chain
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May 28, 2018
In an ever-growing world of internet, data storage and low-cost computing are gathering momentum with advancements in mobile technology which are redefining businesses and are adding value to procurement processes. These disruptive technologies are enabling an altered environment where strategic sourcing is becoming predictive, transactional procurement is becoming automated and supplier management relationship is becoming more proactive.
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Tags: Supply Chain, Procurement, Data Center
Why Organizations Need to Focus on Procurement Efficiency? A Business Case
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May 25, 2018
For many, procurement may seem to a routine activity in a business however it could be a strategic activity that can save tonnes of money for an organisation if done rightly. Procurement involves arranging supplies at the lowest-possible cost. It also involves monitoring the performance of the supplier, negotiation of agreements favourable to the organisation and maintaining a strong network of suppliers.
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Tags: Supply Chain, Procurement
