How Consolidating Your Spend Can Help Streamline Your Purchasing Habits

How Consolidating Your Spend Can Help Streamline Your Purchasing Habits

When your business has physical plants in multiple locations, it’s sometimes difficult to get a handle on purchasing.  You may have overarching policies and procedures in place, but who’s minding the store? When remote locations’ budgets creep up past what’s projected, it shouldn’t come as a surprise if your purchasing practices vary. Without consolidation, monitoring…

Understanding the benefits of an effective Procure-to-Pay and Category Management Process

Understanding the benefits of an effective Procure-to-Pay and Category Management Process

Procurement professionals are served by understanding the benefits of an effective procure-to-pay and category management process, as these are two of the building blocks of effective procurement, as it relates to operational finance. Let’s start by defining our terms. Procure-to-pay An effective procure-to-pay system provides organizations with full transparency throughout the procurement life cycle.  Insight…

The Role of Supply Management in Mergers and Acquisitions

The Role of Supply Management in Mergers and Acquisitions

The whole point of mergers and acquisitions is to improve market standing and thus, earnings.  An acquisition not only knocks a competitor out of the running, that competitor’s resources and systems are added to your company arsenal. But the single most important factor in a successful merger is how the supply chain is handled as…

How Blockchain can bring greater value (cost reduction/efficiency improvement)  to Procure-to-Pay (P2P) providers and their customers

How Blockchain can bring greater value (cost reduction/efficiency improvement) to Procure-to-Pay (P2P) providers and their customers

Blockchain is sufficiently complex that many find it a technically challenging idea to grasp.  Here, we’d like to offer a less technically dense explanation of its benefits for P2P providers and their customers. Much more than a ledger or database, Blockchain is more like a “digital trust”.  It can act as a backbone to one…

Is your supplier giving you a good deal?  Benchmarking can find out

Is your supplier giving you a good deal? Benchmarking can find out

Most suppliers will claim they’re barely turning a profit on your account. But how can you be sure? The statement isn’t dollar-specific, but it implies you’re getting the supplier’s best number.  It’s vague enough to be more of a fib than a lie! It’s not all about their numbers, though.  Your numbers matter, too. How…