SimplyPurchasing

The Pros and Cons of Global Sourcing

The Pros and Cons of Global Sourcing – Is This the Right Direction to Take?

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Global sourcing has been increasingly popular as a procurement technique due to improved cargo transportation and improved international trade legislation. Until recently, international firms were the only ones who could access the worldwide market for products and services. Even companies without a global presence are now adopting global sourcing to increase their economic prospects. On …

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Onboarding Partner

What You Need to Consider Before Choosing a Strategic Supplier

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One of the most effective approaches for development and success in the supply chain is building and maintaining supplier relationships based on trust and transparency. Relationships have grown for some businesses as both sides collaborated to react successfully to risk mitigation. Starting a company takes hard work and preparation; you can browse our business management solutions. As …

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Difference Between Procurement and Purchasing

The Difference Between Procurement and Purchasing

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Purchasing and procurement are often confused, and the two expressions are sometimes used synonymously. However, these two are different in terms of their purposes, the tasks they include, the individuals involved, and the results they generate. If you question a non-specialist about the distinction between the two terms, you could receive the response that purchase …

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Vendor Management System

Methods, Benefits, and the Role of a Vendor Management System

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Managing customers and employees is critical to the success of any business. In both cases, your company can succeed or fail. However, when it comes to improving their connections with workers and customers, many organizations continue to overlook the third set of people. Vendors are the underappreciated members of the community. In addition, statistics reveal …

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Paperless Procurement

The Essential Benefits of Paperless Procurement

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The use of digital technology has taken over the business management. Unlike former traditional practices, procurement teams rely more on the electronic exchange of information. Although you cannot eliminate the use of paper, paperless procurement is gaining popularity around the globe. Whether you need to send RFQ, generate a PO, or exchange valuable information internally, …

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Supply Chain vs. Value Chain

Know the Difference: Supply Chain vs. Value Chain

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Everyone in business should learn the difference between a supply chain and a value chain. The concepts are related but here is the key difference, supply chain is the logistical process of getting goods to market, while a value chain is about creating value for customers. Understanding these two ideas is essential for any company …

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environmental audit concept illustration

Improving the Sustainability of Procurement Practices

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Sustainability is one of the most critical players in driving the efforts to reverse climate change – the biggest threat to life in the 21st century. For years, consumers were thought to be pseudo-moralistic in their demands for more sustainable products. However, the sustainability market is predicted to be worth $150 billion. Additionally, an increasing …

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What You Need to Know About Purchasing and Procurement

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The act of occupying or obtaining something is known as procurement. And small businesses, there is often a means of exchange of goods. When one is in purchasing and procurement management without proper terms and conditions, the customer may suffer and be unable to buy the items he requires of the best quality. Purchasing and …

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Purchase Order Approval Software

How Purchase Order Approval Software Can Help You Avoid PO Errors

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Supply chain management is a complex task. It would help if you took many risks to ensure the smooth flow of supplies. Procurement teams often bear the direct impact of any mistakes in order processing. While there is a decent space to accommodate errors, you may not be able to afford frequent errors. Supply chain …

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GeSpend Management Software

Getting Started with Spend Management Software – A Quick Guide to Best Practices

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Many companies have found that spend management has been a game-changer in streamlining their operations. For example, it streamlines procurement procedures and improves product catalogs. Organizations need spend management software and spend management tools to carry out associated duties because it is multi-tiered management encompassing numerous operational domains. Spend management is still a relatively new …

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Young man working at a warehouse with boxes

Best Tips to Improve Supplier Relationship Management

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Companies heavily rely on the network of suppliers to efficiently meet customer demands and for procurement quality. In fact, an enterprise can’t drive a competitive advantage without maintaining good supplier management practices. Whether you call them vendors, wholesalers, or distributors, the fact remains that suppliers form the foundation of a world-leading company. Many global conglomerates …

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