Becoming more strategic in how you approach procurement ultimately saves time and money for both buyers and suppliers. Truly strategic procurement also means delivering value and growth for your company more efficiently and effectively.
Here are 5 tips for being more strategic in your procurements:
1. Take Control of Your Timelines
A common issue for procurement professionals is getting tied up by lengthy and inefficient processes. With traditional procurements, you need to account for paper-based submissions to be written and submitted (by hand or emailed), time to print and distribute to your staff and the time it takes for them to review. With eProcurement, you can stop bottlenecks and shorten wait times in your review process with digital evaluation forms, approval workflows and task reminders. Features like these simplify the process for internal evaluators and can reduce timelines by up to 35%.
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