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Procurement vs Purchasing: Key Differences, Workflows, and Enterprise Risks

ivalua

Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. Procurement vs. Purchasing: What’s the Difference? See a Demo.

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Vendor Managed Inventory (VMI): What It Is & A Complete Guide

Finale Inventory

Unlocking Vendor Managed Inventory for Multi-Channel Success In today's commerce landscape, mid-market sellers juggling Amazon FBA, Shopify, and 3PL stock face unprecedented coordination challenges. The vendor managed inventory process reverses traditional ordering dynamics by empowering suppliers with real-time data.

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8 Procurement Software Best Practices For 2025

ivalua

Rising software costs, lack of procurement oversight, compliance headaches, and clunky vendor management. All of these processes are critical components for managing procurement activities strategically. Start by defining rules for purchasing thresholds, approval workflows, preferred suppliers, and contract terms.

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How to implement a future-ready e-procurement function

Spend Matters

To ensure automation delivers maximum value, procurement teams must first streamline their processes, enforce governance and standardize purchasing behaviors. Automate approval workflows: Set up rule-based approvals that adjust dynamically based on spend category, vendor type and risk level.

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Purchase Control Is A Nightmare To Solve – Here’s Why

Procurement Express

Purchase control is one of those things that feels small until its not. Its the foundation for managing company spend, keeping cash flow in check, and making sure your team doesnt spend three days tracking down a single lost receipt. How much time is your team wasting on the purchase order process? Maximize cost savings.

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Procurement Systems Explained: Features, Benefits & How to Choose the Right One

ivalua

Key Takeaways Modern procurement systems streamline the entire Source-to-Pay lifecycle by integrating sourcing, contracting, purchasing, and supplier management into a single platform, enabling better visibility, compliance, and control across the enterprise. This “maverick” spend leads to budget overruns and audit risk.

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Direct vs Indirect Procurement: Key Differences, Challenges, and Opportunities

ivalua

An organization’s Procurement function is responsible for buying goods and services that are used to make the products sold to customers, and the purchasing of products and services used to run the organization on a day to day basis. Indirect procurement often involves more transactional and routine purchasing activities.