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. As far as storing stocks/raw materials remains essential, these costs will directly or indirectly affect your overall annual profit and loss. These benefits are highlighted in the table below (Table 1).

Inventory 92

Inventory Supply Chain Efficiency Supply Chain Optimization Raw materials 92

TYA Suite

DECEMBER 16, 2022

The concept of inventory management mainly represents the procedure of storing, using, ordering and selling a business's inventory. It includes the management of components, raw materials, finished products and warehouse processing products. It is also known as buffer stock.

Inventory 64

Inventory Import Management Inventory planning 64