In our previous article, we highlighted the difference between Direct and Indirect Procurement. Professionally managed indirect procurement has grown in importance in the last 15 years or so. For organisations who implemented such an initiative, the result was a convincing one. In this article, we introduce Procurement as a business function for organisations who have yet to embark on the journey. It is best to keep in mind that the Procurement function should act as the focal point for an organisation to interact and work with the supply or selling markets; synonymous to the Sales and Marketing functions who act as the channel to the customer or buying markets.
Continue reading “Procurement As A Change Program”
Mention “Procurement” and the act of placing orders for required business goods and supplies come to mind. As a business function, Procurement is one of the most understated functions, being perceived more of a supporting back-room function than a strategic one. And most of these perceptions have to do with the fact that many of us consider ourselves as “experts” in procurement, being able to handle with ease our weekly shopping and scouring the best deals for electronic gadgets from the numerous online marketplaces. However, the role of Procurement in a modern organisation needs to be addressed differently from our personal and private experience.
Continue reading “Procurement As A Business Function”
If you’re ready to give your retail business a new look but have no idea where to start, then this is the article for you. The renovation process can be very tedious and difficult. There are many things you need to consider before going ahead with renovations, such as engaging architects, designing floor plans, sourcing for contractors and more. Here is a retail renovation checklist to ensure that you’re on the right path.
Making an important decision to hire an IT solutions provider is a huge deal. It can cost you a lot of setbacks if you hire an unsuitable provider, using up precious time and resources for something that can be simple. These are some questions to ask your IT solutions provider to ensure that you’re hiring the right person.
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As an event company, procurement for logistics and services is definitely an everyday task. The swiftness of procuring for the right products and services determines whether or not you will be able to meet deadlines as well as expectations of the clients. What are some of the services that are most commonly procured by an events company?
Continue reading “Top Services For Event Companies To Get More Customers!”
The procurement role is an rapidly-changing role that is becoming ever more prominent and significant in today’s business environment.
While it is easy to become a procurement professional, being the crème de la crème will definitely take more than just holding a professional certificate in procurement (Although we definitely do recommend getting your CIPS, of course).
This is a centralised guide to all the main procurement best practice resources:
- 12 Procurement Best Practices To Implement – ThunderQuote
- Supply Chain Quarterly General Resources
- Purchasing ATK
- OCLE Procurement Optimisation
- Procurement Sense
- AppsFreedom Procurement
- Purchasing Center
- Blur Group Savings And Productivity
- Partnership For Public Procurement Practices CIPS NIGP
- Procurement Evolution Slideshare
These are some useful resources related to best practices in the procurement and purchasing space.
For a one-size fits all software, ThunderQuote has the perfect solution for you, join our enterprise system that will allow you to easily get vendors from right within your system!
ThunderQuote is the most comprehensive business services portal in Singapore, Australia and ASEAN , where hundreds of thousands of dollars of procurement contracts are sourced every month by major companies like Singapore Press Holdings, National Trade Union Congress and more.
In the past, procurement had a relatively simple mandate of keeping costs low. These days, however, procurement has become much more nuanced. And to match that more involved existence, a set of procurement practices have been established. Procurement helps to deliver competitive advantage by eliminating wastage in the cycle of demand, source and supply when purchasing goods and services.
Continue reading “Implement These 12 Procurement Best Practices in Less Than 15 Minutes!”
In this current increasingly competitive business environment, almost every organization is striving to cut operating costs so as to increase profit margins. Here are five effective ways to cut procurement costs, while achieving greater efficiency at the same time.
Continue reading “5 Step Guide To Slashing Procurement Costs”
Supplier negotiations may not work out so well for many companies and often getting supplies within your budget could make or break your monthly profits. But worry not, here is a comprehensive list of useful resources when it comes to negotiating and dealing with suppliers.
Continue reading “The Ultimate Supplier Negotiation Resource List”