The process of sourcing products online, also known as e-sourcing or e-procurement, is a proven way for businesses and business owners to save money while at the same time improving the efficiency of their supply chains. From the smallest businesses to the largest enterprises, virtually ever business can benefit from this proven strategy. The advantages […]
Continue reading
Your company’s ability to grow and thrive depends on your willingness to embrace strategies that improve your efficiency. One of the critical ways for businesses to become more efficient is to automate their procure-to-pay (P2P) processes. While this approach offers many benefits to business owners, some procurement directors remain resistant to it. Have you been searching […]
Continue reading
When it comes to growing and maintaining a business in the modern tech age, it is essential to know how to source and procure products. Choosing the right sourcing is crucial because it keeps your supply chain moving forward at the fastest rate possible. To start, it is vital to find the best sourcing methods […]
Continue reading
When people used to speak of “the cloud,” others assumed they were talking about the weather forecast. Now it carries an entirely different meaning. The Cloud now refers to any system of on-demand computing services that are only delivered through the internet rather than an on-site hardware system. This has to do with the virtualization of more […]
Continue reading
Digitally transforming procurement practices is at once the most significant challenge and opportunity for most firms. Dashboards can rationalize and offer granular control of procurement within a firm, but they are only as powerful as the vendor data fed into their back-ends. Vendors and buyers have different priorities, practices, policies, and needs that often creates […]
Continue reading
The transition and transformation to a digital frameworks model is one that is difficult to grasp with one concept alone. In fact, in order to have a working understanding of how digital transformation should work, it is essential to compare and contrast a variety of concepts and ideas regarding digital transformation so that you can […]
Continue reading
Business owners understand the importance of keeping their supply chain moving forward as efficiently and quickly as possible. But do they truly understand the importance of having a supply chain management plan? Mark Cuban, one of the most famous sharks on ABC’s “Shark Tank” often says that if you don’t come in with a business […]
Continue reading
Project procurement is the process of acquiring goods and services. There are many ways to go about this, but project procurement has more to do with negotiating a contract for a project rather than products or raw materials.Project procurement is an integral part of the successful operations of a business. The process involves many different specific processes […]
Continue reading
New technology is disrupting nearly every aspect of business in ways companies can leverage to increase their bottom line, and procurement is no exception. Digital transformation in the procurement process can cut costs, save time and better inform strategy and decision-making. The central goal of procurement is still to protect and improve profit margins by […]
Continue reading
Digital transformation is the process of using digital technologies to change and modify the process, culture, and customer experience to meet the needs of the changing business and digital world. The ultimate goal that digital transformation targets is to improve the customer experience. The term can be confusing for some because they assume that it […]
Continue reading