EC Sourcing Group
DECEMBER 29, 2020
There are two functions that procurement software essentially performs: centralization and automation, both in the areas of purchasing materials and goods and replenishment of inventory. Have inventory management. You’ll find that most procurement software is called procure to pay software. Manage purchase orders. Run analytics.
EC Sourcing Group
NOVEMBER 17, 2020
Beyond procurement, you want to look for supply chain management software with inventory control, logistics, and demand planning and forecasting. Spend analytics. This helps you understand where you spend your dollars by procurement category. The Importance of Supply Chain Management Software in Procurement: What Are the Main Benefits?
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EC Sourcing Group
AUGUST 31, 2021
Top S ourcing and Procurement Techniques: Inventory Optimization. It’s easy to overlook inventory management sometimes. However, it’s very true that holding onto inventory for too long—even if it’s not a consumable or perishable item—can wreak havoc on your ROI. . Top Sourcing and Procurement Techniques: Supplier Engagement.
EC Sourcing Group
JUNE 8, 2021
As procurement and sourcing are two separate things, you may be looking at two different types of software, or you may be able to find a software suite that covers all the bases for your company. When it comes to procurement alone, you want to make sure your software has: Asset management and inventory. Billing management.
EC Sourcing Group
DECEMBER 14, 2020
You may find that you want RFP software as part of an overall suite, where you have other e-procurement tools, such as procure-to-pay, inventory management, and other features at your disposal. .
EC Sourcing Group
SEPTEMBER 7, 2021
Opting to use Vendor Managed Inventory (VMI) services to help reduce overspend. Ensuring that all buying groups have switched to newly sourced suppliers. Ideally, this is how spend analysis in supply chain management works to improve matters. Switching your suppliers. Eradicating duplicate orders. Consolidating orders.
EC Sourcing Group
OCTOBER 26, 2021
Inventory management. You want the ability to be able to manage your inventory, which includes your stocked parts, raw materials, and spare parts, along with your asset management. To hear more about using information technology in supply chain management or to receive a software demo, contact EC Sourcing Group at 973-936-9672 today.
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