Change management Contract management Order Fulfillment supply chain budgeting 
World of Procurement blog
MAY 8, 2024
It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. Scope : Procurement spans the entire process from identifying requirements to contract closure. Purchasing is more transactional and tactical.
IBM Supply Chain Blog
APRIL 4, 2024
Also, BPM provides real-time insights into compliance metrics and risk exposure, enabling proactive risk management and regulatory reporting. Standardized workflows can be created that guide contracts through each stage of the lifecycle. This ensures consistency and reduces inefficiency.
Expert insights. Personalized for you.
52 
Let's personalize your content