September 16, 2021
Mitigate Supply Chain Risks with a resilient Procurement Platform
Unforeseen delivery bottlenecks put companies under acute pressure to act. Recent events such as the COVID-19 pandemic, blocking of the Suez Canal, or fire at one of Renesas’ factories (Supplier for automotive controller chips) continue to emphasize this. So it is very important to identify weak points in complex supply chains at an early stage ...
Read more
September 7, 2021
Leverage Technology to meet your 2022 Procurement Goals
We are heading towards Q4 of 2021 and since Covid-19 swept the earth, there are unprecedented interruptions to organizations across the planet. Prioritizing resilient procurement processes has never been more crucial in the face of economic collapse. Where cost control was previously the foremost important item on the procurement agenda, now your main procurement goal ...
Read more
August 25, 2021
Driving Digital Transformation through Technology Trends
Thanks to revolutionary technologies like artificial intelligence, neural networks, and machine learning, the manufacturing sector has witnessed a transformation in the previous ten years. It’s a revolution in the business prompted by consumer demand for faster delivery times, lower product prices, and better corporate environmental practices. The most pressing issues confronting procurement managers, on the ...
Read more
August 5, 2021
Effectively Managing Direct and Indirect Spends
The primary goal for Procurement leaders is to optimize the purchases as more than 70% of their company’s revenue is spent on purchasing goods and services – both Direct and Indirect. While direct material purchases are converted into a product through the company’s core competency and proprietary knowledge, indirect purchases help run the company. Quite obviously, direct material determines ...
Read more
July 8, 2021
8 Competing Priorities that jeopardize margin improvement initiatives from procurement
The story goes like this: the CFO is asking for a percentage point improvement in the Gross Margin from the Procurement Team in the next Fiscal. This is the most attractive to the CFO as this does not involve the engineering folks requiring redesigning and testing any parts and any additional Product Programs that invariably ...
Read more
July 7, 2021
Advantages of Source-to-Pay over Procure-to-Pay
So, you are planning to Digitalize your procurement process. The first step to this is deciding whether to invest in a Source-to-Pay or a Procure-to-Pay platform. The first step in your decision process is to understand the functions and limitations of both. Source to Pay is an end-to-end process that aggregates everything from design to ...
Read more
March 5, 2021
Supplier Data Management – The first step towards building Supply Chain Resilience
With the advent of the pandemic, a lot has been spoken about Supply Chain Visibility and the role of data in Supply Chain Visibility. Before the pandemic, there was consensus that organisations had to revamp the way data was managed. This is because a technology enabled supply chain would require high quality of data captured ...
Read more
December 29, 2020
A modern, automated approach to Supplier Management
In traditional Supplier Management, the focus was only on cost reduction. The buyer-supplier relationship did not extend beyond that. Today, it is recognised that Suppliers play an important role in the long-term success of an organization. With this recognition, they have come to be seen as partners in business no less important than the end ...
Read more