World of Procurement blog

MAY 8, 2024

Its strategic importance stems from its impact on profitability, efficiency, risk mitigation, and competitiveness. Types of Procurement There are several types of procurement that organizations utilize: Direct Procurement Direct procurement involves purchasing raw materials and components that go directly into a company's end products.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Zycus Cognitive Procurement

JANUARY 24, 2023

Shortages in raw materials, energy, shipping, and labor required that CPOs performed at the top of their game to ensure business continuity. Technology: CPOs should look for an integrated platform to manage all the spending and processes, such as third-party risk, sourcing, supply chain, invoicing, contracting, and payments.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Procurement Software

APRIL 2, 2024

For example, there are software platforms out there targeting marketing, transportation, SaaS, raw materials and professional services procurement. Along with niche category specific procurement tools, there are also project management and internal collaboration applications in this space.

supply chain budgeting 52

supply chain budgeting supply chain software solutions Procurement Budget 52

Empowering CPO

MAY 8, 2023

Importance of Risk Management in Procurement Procurement plays a critical role in the success of any organization, as it involves acquiring goods and services necessary for business operations. Finally, we will provide practical tips for incorporating risk management best practices into your organization’s procurement process.

Risk management 52

Risk management Risk Procurement strategies Strategy 52