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Top 5 KPIs for Purchasing Managers

Precoro

The purchasing department plays a critical role in the success of an organization. Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost.

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Unlocking Success: Why Strategic Sourcing Is Important for Your Company

Precoro

As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased. Sourcing tasks include sending out requests for proposals (RFPs), evaluating supplier bids, selecting vendor partners, negotiating contracts , and then managing supplier relationships.

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Purchase Order Management: a Key to Efficient Business

Precoro

Efficient purchase order management helps to have essential business needs covered while engaging as few resources as possible. Once a supplier approves the purchase order, it becomes a legally binding document. Purchase order process is an integral part of a procurement cycle as a whole. Let’s dive deeper.

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De-Carbonising Road Freight Operations: Bridging the Know-Do Gap

The Logistics & Supply Chain Management Society

For example, Maersk ordered eight 16,000 TEU vessels to be operated on carbon-neutral methanol fuel, while DHL has purchased large amounts of sustainable aviation fuel and ordered 12 all-electric cargo planes. It comes from the annual customer survey conducted by logistics software company Transporeon.

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5 Skills Needed for Radical Supply Chain and Logistics Collaboration

GlobalTranz

While a contract documents the responsibilities and expectations of both parties, like a purchase order, warehousing or transportation contract, service level agreement or quarterly business review, there is a great deal of flexibility, even when they are lengthy and rigid. Find a solution for an issue rather than finding someone to blame.

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Understanding Invoice Tracking & Choosing the Right Software

Precoro

Invoice tracking is crucial for purchasing companies that want to stay on top of payments and avoid paying penalty fees. Plus, it enables buyers to capitalize on early payment discounts. This involves storing invoices, purchase orders, receipts, and other relevant documents in an organized manner for easy retrieval and reference.

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ISO 20400: Building Value Through a New Standard for Sustainable Procurement

EcoVadis

No matter what industry you operate in, procurement can create immense value — in some sectors, for instance construction, as much as 80 percent of revenue goes into the supply chain. Unlike many other standards, ISO 20400 is not intended for certification, but it may lead to performance assessments. What Are the Key Benefits?