World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Purchasing is more transactional and tactical. Purchasing focuses specifically on the buying transaction.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

SCMDOJO

AUGUST 4, 2023

This implementation further lessens the order transmission time without reducing lead time to its final buyers. Also, the Risk of fluctuations is present as whatever happens to such stocks can no longer be sold at its original purchase value. In order words, Excess and Obsolete Inventory Is killing your business !

Inventory 90

Inventory Supply Chain Efficiency Supply Chain Optimization Raw materials 90

Claritum

JANUARY 25, 2019

Real-time financial purchasing information for management decisions. Effective and timely order fulfilment. Shorter order cycle times. Let your employees buy from catalogues, as opposed to trying to employ additional scarce buyers to handle transactional purchases. generation of a purchase order.

Supply chain management 36

Supply chain management Supply chain management Supply Chain Efficiency Supply chain 36