OptiProERP
DECEMBER 18, 2023
Acquiring goods from vendors and suppliers is one of the critical and routine tasks for manufacturers. Procurement and purchasing are terms interchangeably used in manufacturing but are distinct activities. In this blog, we will see how purchasing and procurement differ. Steps in the Procurement Process 1.
Precoro
SEPTEMBER 6, 2021
This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?
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QAD
APRIL 22, 2021
Recent business turbulence has increased the awareness among manufacturers for improved communication and collaboration with suppliers. This is certainly true in the area of strategic sourcing where procurement teams rely heavily on manually intensive efforts to identify and select suppliers.
QAD
JULY 13, 2021
I caught up with a former colleague recently to discuss her procurement project which comprised a year-long strategic sourcing engagement. During the project, she was able to rationalize the supply base, boost procurement efficiencies and drive positive financial results.
Logistics Viewpoints
APRIL 6, 2023
Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services.
ivalua
NOVEMBER 8, 2022
US Government Passes the CHIPS Act to Increase Semiconductor Manufacturing and Research. The CHIPS Act was created in response to pandemic-induced shortages of semiconductors and other critical manufacturing supplies, causing widespread disruption to supply chains across the country. . Part A: Manufacturing in the U.S.
SYSPRO Smarter ERP
JULY 3, 2023
Using artificial intelligence (AI) in manufacturing can significantly improve productivity, reduce equipment failure, increase production efficiency and help identify new business opportunities. The area of AI that manufacturers need to explore to drive their factories into the future is machine learning (ML). The Industry 4.0
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