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The cost of recovery from a disruption in procurement management depends on factors such as supply source, volume, manufacturing location and inventory. Recent changes in supply chain solutions include building to order and obtaining supplies just before they're needed, resulting in a greater dependence on lead times. Quality problems.
Meanwhile, countries in Southeast Asia, such as Vietnam and Cambodia, are enjoying growth as offshore manufacturing centres. Through collaboration with your procurement partner, you can reduce inventory levels and then potentially downsize your warehouse capacity needs.
The company’s Chief Operating Officer, Chief Financial Officer, and Assistant Procurement Manager shared their experiences in tackling procurement challenges and explained how Precoro provided the solution. This reliance on spreadsheets led to periodic human errors, further complicating the procurement process.
By bringing procurement and project management under one umbrella, businesses can streamline operations, speed delivery, and drive growth that lasts. This guide explores the benefits of project procurement management and outlines key steps for creating a Project Procurement Management Plan (PPMP) that drives business growth and innovation.
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