Insights and strategies for effective sourcing, contract, supplier, and savings management in procurement
What is e-Invoicing? How Electronic Invoicing Works Are you familiar with the term ‘e-invoicing’? Also referred to as “electronic invoicing”, this relatively new concept has revolutionised how businesses transact and manage their finances. The process involves an invoice being sent electronically, from one business to another, to facilitate quicker payments and easier reconciliation of business […]
ESG Vs Sustainability: Comparison and Differences And How It Affects Procurement Over the years, sustainability has become an increasingly important part of any company’s operations. In fact, many companies are now leveraging this concept to increase their returns on investments while reducing their risks and becoming resilient during disruptions. Sustainability and ESG (Environmental, Social, and […]
Category Management: What Is It, How Does It Work, And Why Is It Important? Category Management is used to create strong, long-term relationships between companies and their suppliers. It allows retailers to focus on merchandise categories in order to maximize sales potential and profits. Through this approach, both the retailer and supplier are able to […]
Calculating Purchase Price Variance: What you need to know When calculating purchase price variance, it’s important to understand the basic concepts of margin, gross margin, and net margin. These concepts will help you understand how your purchase price compares to your sales price and how much profit you may be making. This post will provide […]
Strategies to Generate Procurement Cost Savings Introduction All businesses have their own unique ways of managing their procurement process, but one thing remains consistent: the need for cost savings. Without proper management and optimization of procurement costs, even the most successful companies can struggle to stay profitable. That’s why it’s so important to know how […]
Cost Reduction- The Ultimate Guide Introduction If there’s one thing all businesses have in common, it’s the need to better control and reduce costs to improve profit margins But it can be difficult to identify and implement cost-saving strategies that don’t negatively impact your bottom line. That’s why we’ve put together this comprehensive guide on cost […]