Direct Material Procurement July 28, 2023
What Does It Mean To Be A Buyer
What are the core responsibilities? Buyers, purchasing agents, procurement specialists, purchase executives, irrespective of how they are referred to in an organization, are primarily responsible for purchasing materials, supplies or equipment for a business. Their ...Read more..
Direct Material Procurement March 29, 2023
How an Effective Source-to-Pay Solution for Direct Materials helps in Product Success
In Product Manufacturing companies, the role Sourcing & Procurement teams play is critical in the success of a product. However, most companies do not fully understand the impact of these roles. And because of this, ...Read more..
Direct Material Procurement March 23, 2023
Why is the Direct Material Procurement Lifecycle Still Left Outside of Digitalization?
Procurement or purchasing is an essential part of any business. No business can function without employing the services of another entity to complete their full business cycle. That said, the nature of the goods and ...Read more..
Direct Material Procurement February 23, 2023
UI and UX: The two unsung heroes of software development
Recently, I visited a fast-food restaurant that’s well-known for its burgers, shakes, and fries. When I entered the restaurant, I spotted a newly installed kiosk. I understood that with the help of this kiosk, I ...Read more..
Direct Material Procurement February 17, 2023
A letter to the CFO/CIO of Product Manufacturing Companies
To the CFO/CIO, How was the last purchase order made? Does your current system show how the supplier for that item was selected and the contract finalized? A recent incident at a large Auto ...Read more..
Direct Material Procurement February 12, 2023
History of Electric Vehicles and Procurement's role in Electrification
Internal combustion engine (ICE) vehicles are still the dominant players in the automotive market. But with climate change, sustainability issues, etc. cropping up, Electric Vehicles (EVs) have been challenging the status quo. In fact, the ...Read more..
Direct Material Procurement January 29, 2023
Material Sourcing: Digitally transforming the Request for Quotation process
The first, and most basic, rule in cooking is to ensure everything is set up before you begin - mise en place. Assume you missed an ingredient. And you search for that ingredient only when ...Read more..
Direct Material Procurement January 16, 2023
Purchase Requisition Process: Digital Transformation of RFP
Purchase Requisition Process Launching a product in the market can be stressful. It requires complete coordination across internal teams as well as external suppliers. And the problem most companies face is siloed pieces of information. ...Read more..
Direct Material Procurement December 28, 2022
Toy Story: It's History, Complexity & Procurement's Role
Remember the days when life was easy, devoid of social conventions and expectations, and unaffected by the challenging realities of adulthood? Remember your neighborhood was everything to you and toys were your only companion? You ...Read more..
Direct Material Procurement December 26, 2022
Movies suggestions for Procurement Professionals this Holiday
“Winter, a lingering season, is a time to gather golden moments, embark upon a sentimental journey, and enjoy every idle hour.” –John Boswell A lot has changed in the last couple of years when it ...Read more..
Direct Material Procurement December 07, 2022
Purchase Order (Part-2): What it contains? & Who does it matter to?
In our previous blog on purchase orders (PO), we looked at what is a purchase order and the different types of POs. Well, if you haven't read it yet, here’s the link. In short, a ...Read more..
Direct Material Procurement December 07, 2022
OEM Industry: OEMs, suppliers, and how to use a procurement system?
Although OEMs and Tier 1 suppliers face different challenges in their procurement function, they essentially strive to reduce the time for the introduction of new products by using their procurement system. A product's development and ...Read more..
Direct Material Procurement December 02, 2022
FIFA World Cup: The Journey of the Event's Centerpiece
Football is an exhilarating sport. It is fast-paced and also boasts legions of fans, approximately 4 billion in number. That’s a touch more than half of the earth’s population. And the FIFA World Cup is ...Read more..
Direct Material Procurement November 03, 2022
Supplier Dashboard II: How Zumen simplifies supplier evaluation
Welcome to the second blog of the Supplier Dashboard series. In the first blog, we talked about the importance of dashboards in procurement, especially in supplier relationship management, and how you can intuitively zoom in ...Read more..
Direct Material Procurement October 23, 2022
Supplier Dashboard I: Your partner for effective Supplier Management
In sports, professionals are under constant pressure to perform at the highest level. And to reach that level, they can’t do it by just playing. Players have to undergo rigorous practice sessions, analyze their gaps, ...Read more..
Direct Material Procurement October 13, 2022
5 Major Challenges for EV Manufacturers
According to the Intergovernmental Panel on Climate Change, transportation accounts for about 23% of global energy-related greenhouse gases, and of that, road transportation is 72%. In an effort to prevent the rising effects of climate ...Read more..
Direct Material Procurement October 12, 2022
How a Source-to-Pay Software Supports in Effective BOM Comparison?
In a product manufacturing company, comparing the BOMs of a product at different stages of its development lifecycle helps companies evaluate whether the design is in accordance with the technical objectives and the cost target. ...Read more..
Direct Material Procurement September 30, 2022
Direct Procurement - Challenges in RFX Process
Challenges in the RFX process in Direct Procurement Let’s consider a hypothetical scenario. Jane is a procurement manager in a product manufacturing company that has a strong reputation in the industry. They are currently working ...Read more..
Direct Material Procurement September 28, 2022
5 Aspects of Effective Supplier Management
Supplier Management Product manufacturing companies have suffered a lot in the past couple of years. The pandemic, post-pandemic effects, wars, trade embargoes, volatile commodity prices, inflation, labor relations, raw material hoardings, and supply disruptions have ...Read more..
Direct Material Procurement September 24, 2022
Solving the Complexity Conundrum in Achieving the right Product Cost
You go to an Apple store and purchase the latest 256 GB iPhone 14 Pro Max. And its Manufacturer's Suggested Retail Price (MSRP) right off the shelf is $1199. But, the actual product cost of ...Read more..
Direct Material Procurement September 17, 2022
Supplier Negotiation - The need for Source-to-Pay software
Supplier Negotiation is part and parcel of our daily lives. It is a clear contest where one takes the cup and the other, well, just watches. Think about your last purchase, be it groceries, an ...Read more..
Direct Material Procurement September 11, 2022
What is a Purchase Requisition?
Manufacturing companies require multiple items daily, from raw materials, semi and fully-finished goods, to office supplies and services. And to purchase these goods, companies need to go through a systematic process that helps them manage ...Read more..
Direct Material Procurement September 05, 2022
Bill of Materials (BOM) - What it is and what are the types?
What is a Bill of Material (BOM)? What's the first thing you do when you want to buy grocery items? You make a list. It could be a list of ingredients you need to cook ...Read more..
Direct Material Procurement August 31, 2022
Difference Between Sourcing and Procurement
Product manufacturing companies have multiple departments that collaborate to achieve their business objectives. And when it comes to handling the supply chain operations, sourcing, procurement, and supply chain teams form a vital cog. On the ...Read more..
Direct Material Procurement August 25, 2022
Scope 3 Emissions: Risks, Opportunities, and Role of Procurement
Earlier, sustainability was just a topic in boardroom meetings, but now, it is not so. It is becoming a pressing issue in organizations. And enterprises worldwide are calling for greenhouse gas (GHG) emission reductions like ...Read more..
Direct Material Procurement August 23, 2022
Direct Procurement: The 6 Key Differences of Direct vs Indirect Procurement
Direct Procurement The procurement process is categorized into Indirect and Direct Procurement. It comprises Request for Purchase (RFP), Request for Quotation (RFQ), Quotation negotiation & selection, Purchase Order (POs) release, Material tracking, Goods Receipt, and ...Read more..
Direct Material Procurement August 22, 2022
Formula 1 Engine: 2026 Regulations, Procurement, and Supply Chain
Formula One cars are the fastest on the planet around a race track. And they are one of the vital cogs for success in an F1 race. Any good driver with high skill sets will ...Read more..
Direct Material Procurement August 19, 2022
Procurement & Supply Chain Management: Role of Procurement in Supply Chain
Procurement & Supply Chain Management Over the past few years, businesses across industries have faced unprecedented supply chain disruptions. While many business leaders, especially those in the supply chain and procurement, believe that the ghost ...Read more..
Direct Material Procurement August 11, 2022
Procurement Technology: Why it is a must for Product Manufacturing Companies?
The early 1780s can be considered as the beginning of modern manufacturing, when Oliver Evans, an American inventor, began experimenting with the first automated flour mill. And there was no stopping from there. Today we ...Read more..
Direct Material Procurement August 07, 2022
Direct Procurement: Challenges in Product Manufacturing Companies
Direct Procurement Challenges in Product Manufacturing Companies Procurement teams juggle multiple roles, from identifying the need to vendor/supplier management and even facilitating payment processing. And while doing all of these, they also need to keep ...Read more..
Direct Material Procurement August 04, 2022
AI quotation: Table Extraction Deep Learning Technologies & Current Trends
Welcome back to the second part of the Quotation Automation blog series. In the first part we looked at the need for quotation automation in organizations, the different ways data is presented in a document ...Read more..
Direct Material Procurement July 08, 2022
Wimbledon - A Procurement Excellence
Champagnes, strawberries, and 50K tennis balls behind a spectacular event Wimbledon – an event that personifies everything British is back to its original form after a 3-year sabbatical. Every product and aspect of Wimbledon is ...Read more..
Direct Material Procurement June 10, 2022
Direct Material Procurement Life Cycle Guide - Part 2
Welcome to part 2 of the 2-part series blog on Direct Material Procurement LifeCycle. In case you missed part 1, it is available here. The objective of this handbook is to help the audience understand ...Read more..
Direct Material Procurement May 25, 2022
Direct Material Procurement Life Cycle Guide - Part 1
The objective of this guide is to explain the Direct Material Procurement Lifecycle — details, exceptions, and complexities — in the context of product manufacturing industries. This would include companies in such industry sectors but ...Read more..