Automated Procurement Process for Enhanced Value Network
The objective of a Purchasing Manager or a Procurement Manger is to facilitate the in flow of goods and services to the organization, in such a way as to match specific organizational requirements, in the timeliest way, at the most advantageous prices. The application of e-Procurement techniques provides a means of improving efficiencies in specific segments of the supply chain management systems, thereby facilitating the achievement of the Procurement Manager’s objectives. Traditional methods and tools are not sufficient to manage the widely-distributed, business-critical resources in the value network.
Many organizations today use cloud computing to take control and manage their value networks. Cloud Processes integrate and automate the business processes of the entire value network across partners and the systems they use. They provides end-to-end visibility of the entire value network based on real-time information and access to all key master information, whether it resides inside or outside your own network.
An automated procurement and purchasing process integrates a company’s buyers with its suppliers together with the relevant IT systems on both sides. Together, these elements constitute the company’s value network of collaborating partners. This improves your organizational efficiency and reduces the administrative costs of all steps in the procurement process. It significantly enhances your company’s control over procurement activities at all levels. True e-procurement is beyond traditional purchase order software and post award management.
With automated procurement process, essential business information readily available to all authorized constituents across the Value Network. It provides the end-to-end visibility of real-time business information at the operational, tactical, and strategic levels. It also provides business process agility necessary to cope with today’s volatile, complex, and super interconnected globalized markets. Automated cloud processes can be custom-built to specific customer requirements. While they take responsibility for many of their products far beyond the point of sale, they also they are responsible for the recycling and return of worn out goods in some cases.
Automated procurement processes for the value network enable management to take control of end-to-end business processes and automate the basic interaction among its participants. They help shorten the lead times in value added activities in the value network.
Read on – Expense management software, Master data management
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