SupplySide’s Post

Procurement is one of those areas of business that doesn't get enough attention. It's often an afterthought, maybe managed in someone's Excel sheet that gets shared and copied multiple times over. Who knows where the original version is. Or, if it gets attention, it's often through complex (and expensive) software you need to get training on first before you can actually do anything. (And maybe it's better to stick to that Excel sheet.) At Zingflow, we're working to find a middle ground – something that's simple enough yet really efficient. That does the job for you – at least parts of it, anyway. And that helps connect the dots within procurement management without the overkill of a super sophisticated platform that nobody knows how to use. Stay tuned while we bring you something that will make procurement management feel unusually easy. You could even say, it'll feel like magic.

🌟 Day 4 of Daily Tips! 🌟 Today’s tip: Regularly review your contracts. Ensure all terms are up-to-date and aligned with current business needs. This helps mitigate risks and ensures smooth operations. Stay proactive and diligent! Stay tuned for more tips and join the conversation! 💼📈 #Purchasing #Procurement #CareerDevelopment #DailyTips

The way that a procurement department measures its effectiveness is a great indicator of the maturity of the function, and of the extent to which the business views procurement as a strategic partner. How do you measure #Procurement effectiveness?

Did you know 45% of procurement activities are still conducted manually. A variety of IT procurement systems exist in the SA market, yet a significant amount of procurement processes remain to be manual. These systems only tend cover the early stages of procurement and are not compatible with each other. The latter implies that time-consuming and more error prone manual processes are needed to extract information from them, which also may be difficult to consolidate with information produced by other systems. Book a demo to see how we have automated -https://lnkd.in/dUG4rM2z

Is cost savings the only way to assess the impact of procurement? Definitely... not. Here’s a compilation of other ‘effective’ ways to measure effectiveness from a recent Reddit thread in r/procurement. How does your procurement department measure success? https://lnkd.in/gGVTXwKc #NationalProcurementMonth #Procurement #Reddit

5 Benefits of NetSuite Procurement 🛒 Get in touch today to find out how we can help improve your procurement processes with NetSuite. ☁️ www.3en.group

 A well-structured procurement budget is the bedrock of fiscal responsibility. Below are key reasons why procurement budgets are so essential: ➕ Strategic Clarity: A procurement budget forces you to define your purchasing strategy. It helps you prioritize needs, identify cost-saving opportunities, and avoid overspending. ➕ Early Warning System: Think of your procurement budget as a financial smoke detector. It alerts you to potential problems before they escalate, allowing for timely course correction. ➕ Cross-Departmental Transparency: A procurement budget fosters accountability and ensures that everyone is on the same page regarding spending. ➕ Efficient Resource Allocation: By providing a clear picture of available funds, a procurement budget enables you to allocate resources effectively and maximize the value of every dollar spent. ➕ Data-Driven Decision Making: The data generated by your procurement budget offers valuable insights into spending patterns, supplier performance, and potential areas for improvement. #procurement #budgeting #financialcontrol #strategicplanning

Yo, you looking to improve your procurement process? I made a detailed and simple-to-understand flowchart that outlines the end-to-end procurement process. You might find it useful, so save it before scrolling! ✋ #procurement #procurementprocess #purchasing

Is your procurement process as smooth as it could be? 🤔 Dive into these tips for optimization, from approval to payment, and see the difference! #SupplyChainManagement #CostSavings 💡💰 https://lnkd.in/dT-s3Xv9

Manage your company's procurement risks with ease. Here's a simple matrix I created to help! P.S -- Looking for a software to keep manage potential procurement risks? Feel free to reach out to me and the team! 🗓️ https://hubs.ly/Q02H2z2y0 #procurement #purchasing #procurementrisks