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Business, Standardized Procurement

How Can Procurement Be Improved?

Introduction

Procurement is a critical aspect of supply chain management. It helps organizations acquire the right products, at the right prices and in the right quantities. It’s also one of the most important cost-saving levers available to businesses today. Yet it’s not always as effective as it could be. In fact, many companies are still using outdated procurement processes that can cause delays, increase costs and lower customer satisfaction levels. Here are five ways you can improve your procurement process:

todd@highbartrading.com
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Business, Standardized Procurement

Is It Time For A Punchout Site?

Introduction

As a buyer, you probably already know what a punchout site is. The term refers to an electronic store that allows you to create a shopping cart of items through your supplier’s site and have them approved through your procurement platform. Once approved, the order is automatically fed back into the system of record and processed by the supplier. Punchout sites are relatively common in industries where there are many companies supplying similar products, such as computers or office supplies (and even in some instances where there aren’t). But what if you’re not buying from suppliers that offer punchouts? Consider implementing your own! Here’s why:

justin@highbartrading.com
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