Summary Small and medium-sized enterprises (SMEs) face unique challenges due to limited financial resources and intense competition. Cost-saving measures in procurement are crucial for their financial health and sustainability. This blog delves into why SMEs must consider cost-saving strategies in procurement. Through the implementation of effective strategies, SMEs can enhance competitiveness, fortify financial foundations, improve […]

Summary Optimising procurement processes contributes to enhancing the efficiency, effectiveness, and overall value of an organisation. Driving strategic objective achievement by optimising procurement involves adopting technologies such as e-procurement systems to automate routine tasks, improve data accuracy, and enhance decision-making. The role of procurement optimisation in achieving strategic objectives consists of enhancing cost savings, risk […]

Summary Implementing green procurement is essential for business sustainability. A green procurement policy guides businesses in acquiring materials and services based on their environmental and societal impact. It considers the life cycle of products, emphasising the triple bottom line of environmental, social, and financial considerations. This approach, aided by procurement consultants, fosters innovation, longevity, and […]

Summary The supply chain is a complex network encompassing all stages from procurement to the delivery of goods and services, involving processes like sourcing, production, logistics, distribution, inventory management, information flow, technology integration, and risk management. Supply chain management aims to optimise efficiency, cost-effectiveness, and customer satisfaction. The supply chain faces various challenges. The COVID-19 […]

Summary Implementing agile and accessible procurement systems is crucial for businesses aiming to streamline processes and enhance efficiency. In this blog, we divulge the key features and benefits of mobile procurement and how processes are streamlined and enhanced. The process begins with leveraging the mobile procurement strategy and aligning it with overall business objectives and […]

Procure-to-pay refers to the end-to-end process of acquiring goods and services within an organisation. It encompasses various stages from requisitioning, vendor selection, purchase order creation, goods receipt, invoice processing, and payment. When combined with digital technology, P2P utilises automation, analytics and seamless integration to enhance efficiency, reduce costs, and drive strategic decision-making. Why is it […]