Sourcing Platform 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..Sourcing Platform March 02, 2023
Eight questions to determine the need for Sourcing Software
To the CFO/CIO: Direct Spend accounts for up to 70% of the total revenue. Yet, it's difficult to find the audit trail of direct-spend-related decisions. Have you wondered how and where the decisions are made and ...
Read more..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform September 29, 2022
Supply Chain Disruptions: Factsheet of the Global Impact
Covid-19 was the first and most significant domino that caused a catastrophic ripple effect along the supply chain. Since then, Geo-political issues, customer demands, trade wars, and many other disruptors have caused upheavals in the ...
Read more..Sourcing Platform September 25, 2022
Quotation Process: A brief Description
What happens when you are on the lookout for buying an electronic item, an automobile, or even a house? You visit multiple vendors and compare prices, and based on your needs and budget, choose a ...
Read more..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform August 12, 2022
2012 The Movie: How was the Ark built?
The year 2009 saw a lot of feature films come and go. And as per (the International Movie DataBase) IMDB, the list of feature films amounts to a whopping 7610. That's a lot! I probably ...
Read more..Sourcing Platform 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..Sourcing Platform 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..Sourcing Platform July 14, 2022
e-Procurement Software Workbook: The Ultimate Guide to choosing the right Software for Direct Material Sourcing & Procurement
Direct Material Procurement digitalization has been a point of discussion in product manufacturing companies for some time now. Automating direct procurement and optimizing the source-to-contract process can save businesses time and money. But it is ...
Read more..Sourcing Platform 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..Sourcing Platform June 14, 2022
10 reasons to avoid ERP Customization for Procurement
The last decade has seen increased use of technology by the global population for personal use and pandemic-driven technology adoption by companies. To add to that, competition continues to be fierce among product manufacturing companies. ...
Read more..Sourcing Platform June 09, 2022
Why an ERP system is not a sourcing platform
Almost all established companies have a well-functioning ERP system. ERPs were designed to help accounting teams monitor transactions across the enterprises and to help in financial reporting and it falls short of addressing the features ...
Read more..