Digital Purchase Order Blog

Read more about the world of Purchase Orders.

Supplier Relationship Management and avoiding Sole-Sourcing Complacency.

Supplier Relationship Management and avoiding Sole-Sourcing Complacency.

Debates over whether sole-sourcing, also referred as ‘no-bid-contract’, have increasingly ended at stalemates in many companies’ procurement boardrooms. Utilizing one supplier assists in pooling the scale of quantity benefits and helps in bargaining. It also builds a strong relationship between firms and their suppliers and at time, it is used to edge out smaller competition. However, the downside of sole-sourcing can proof to be pretty damning. A firm is at its supplier’s mercy and if any catastrophes befall the supplier, a negative and direct trickle-down effect is felt by the respective firm. Strategies to reduce such risks may include having […]

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Cost Management: More than Just Savings

Cost Management: More than Just Savings

While the ability to see the “big picture” is considered crucial in corporate cost management, those who have worked in Central Procurement have a deeper appreciation for the value of the detail. Cost management professionals must work from a sound global strategy at a local level, and that is impossible to do without a unique ability to manage details – particularly given the ongoing demand to drive down costs in a business category that is inherently a spend. Local procurers must be cost management experts with the ability to find the hidden value that frequently can only been discovered through […]

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e-Procurement: 5 Supply Risk Mitigation Principles

e-Procurement: 5 Supply Risk Mitigation Principles

5 Critical Supply Risk Mitigation Principles for Your Sourcing Process In order to manage saving potential, e-procurement and contract management have to be major considerations. For managers engaged in negotiations, contract management is critical to supplier relationship, services and goods. e-procurement assures being able to identify performance factors which are important to successful delivery and benefits operations. Today, business economics are a challenge to the ideal of performing the same task repeatedly, even if done with proficiency. There is pressure to maintain the bottom line while returning high results. This operation would be more efficient if instead of altering operations, […]

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Efficient workflow management in 5 Steps

Efficient workflow management in 5 Steps

If your work day seems like a re-run of the infamous “I Love Lucy” episode, with your day-to-day tasks seeming like bon bons flying off a fast-moving conveyer belt, then your workflow management may need a little tweaking. All business managers know that the key to workplace productivity is a smooth operation with a minimal of distractions. To get to that ideal workflow management goal takes discipline. The payback is that your days are simplified and your profitability skyrockets. To spend less on time-consuming tasks that get you nowhere, follow these five easy steps. 1. Hold Fewer Meetings The Atlassian […]

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Finding The Purchase Order System That Fits Your Needs

Finding The Purchase Order System That Fits Your Needs

Whether your company is a worldwide conglomerate or a mom-and-pop shop, you’ve likely made thousands of purchase orders that are essential to your business. It can be difficult to tailor your purchase order system to fit the needs of your dynamic services. Learning the finer points of procurement can make your business run smoothly and effortlessly, saving you time and money over the life of your operations. As small a detail as purchasing can be, the process can make or break your success. Small-scale procurement If your company is small or burgeoning, you might be passing on the task of […]

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Supplier Negotiations Tips: Close the Right Deal

Supplier Negotiations Tips: Close the Right Deal

Supplier Negotiations can be a tough topic. When suppliers eliminate competition by minimizing costs or creating technology interferes with competitors, it often seems like companies are forced to accept the new prices of goods. Furthermore, when increases in demand exceed the available supply and the supplier is able to charge any price they wish, you may feel that you have no power to negotiation. However, no matter what kind of market power you have compared to your business’ supplier, it’s important to take a strategic approach to supplier negotiations. By utilizing these steps, you can treat supplier negotiations like any […]

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The Hidden Costs Associated with the Change of Suppliers

The Hidden Costs Associated with the Change of Suppliers

Choosing to take advantage of indirect goods can be a great way to save your organization some money since many suppliers are always willing to offer some great deals in order to acquire your business. Since many of these businesses will even allow you to keep purchasing the same brands you’re used to, it can be very tempting to make this type of transition. However, it’s important to be aware of the impact that this can have on your company when you change suppliers. While lower prices can be great and being able to keep all of the products you […]

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Who Should You Trust When Purchasing Technology?

Who Should You Trust When Purchasing Technology?

Unfortunately, advertisements are running rampant via technology these days, and they’re everywhere including on the many devices that are connected to the Internet. The majority of websites that are browsed boast a wide variety of ads that come in all shapes and sizes. From those bothersome pop-ups that prevent you from viewing the page until you either close them out or subscribe to their service to the shotgun lineups that cover an entire side of the website, viewers are bombarded. Although many companies put a lot of stock in traditional advertising, they may not work as well when it comes […]

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Procurement Cluster – Strategic Approach

Procurement Cluster – Strategic Approach

Advantages Provided By Procurement Clustering A geographic concentration of companies that are interconnected is known as a cluster. This could be service providers, specialty suppliers, organizations of related industries as well as associated institutions working in a specific field and more. These organizations may compete with one another but also benefit from cooperation. A standard cluster is one where businesses from different sectors engage in activities that focus on particular values and are intertwined. Procurement Cluster Regions There are certain geographic regions that act as a cluster for particular industries. In Switzerland, the cluster is watches, Rome and Paris are […]

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Procurement – Five Things You Must Know About It

Procurement – Five Things You Must Know About It

Procurement specialists are responsible for locating and purchasing high-quality products and services which will benefit the business and facilitate increased productivity and success. In order to do so, it’s crucial for those responsible for the procurement to be familiar with and well-versed in the policies, risks, and other factors associated with procurement and the supply chain. When a procurement specialist is able to do their job well, the impact on both the organization’s budget and overall mission can be very positive. For the most part, the standard process of procurement involves five steps, all of which need to be thoroughly […]

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