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Procurement Compliance Explained: Examples, Challenges, and Best Practices

Precoro

Companies often push aside procurement compliance to focus on more pressing issues. No wonder—procurement often gets tedious and burdened with time-consuming processes. However, ignoring procurement compliance is like ignoring a ticking time bomb. Scroll down to find out: What is procurement compliance?

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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 the Secrets of Growth Marketing!

Supply Chain Game Changer

A Simple growth marketing example If customers only purchase one or two items, your e-commerce company may need to be more profitable. You might use cross-selling and upselling to encourage the customer to purchase more products the first time and engagement strategies to enable them to buy more frequently.

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Procurement Cost Reduction: How to Cut Costs Without Cutting Corners

Precoro

According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction.    The key thing to remember is that cost reduction in procurement isn’t just about slashing expenses.

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Types of Procurement Reports: Definition & Benefits

SCMDOJO

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

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The 6 Top Supply Chain Trends to Make Supply Chain Managers the Hero of Their Company

GlobalTranz

In the logistics aspect of the supply chain, this equates to better monitoring and adherence to guidelines governing drive time, fuel use, deadhead and more. If consumers are forced to shop with a competitor for service parts, they are more likely to continue purchasing new products and making repeat orders with your competitor.

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Supplier Relationship Management: Driving Success in Modern Supply Chains

QAD

Corporate purchasing leaders must not only manage transactional data effectively but also use this data from stakeholders across the organization to create a more collaborative environment that creates trust and benefits to both customers and suppliers. What is the solution? Start with the basics.