The Benefits of E-procurement Simplified

In these competitive and cost conscious times, e-procurement hold out the promise of saving companies large sums of money. An e-procurement system is effectively a seamless, business to business system that will ensure that the whole process is automated, taking the process of procurement up to a high level and creating a process for supply chain management that is efficient and robust. With e-procurement there is no undisciplined expenditure. It not only streamlines purchases, but also helps businesses save time which can be used on being more productive, creative and giving their customers the best service.

The advantages of e-procurement are becoming more evident its uses have become apparent. It provides visibility into day-to-day transactions and makes it easier for users to get the supplies that they need. Electronic procurement holds out such a promise and is enticing ever-more businesses to move their purchasing online. Today’s competitive markets make it necessary for authorized purchasers to order the correct products from the right suppliers on the best possible terms. The right e-procurement process automates the procurement or purchasing process and integrates a company’s buyers with its suppliers collectively with the applicable IT systems on both sides. Some of the other benefits include

•             Cost  reduction

All e-procurement systems are cost effective as they eliminate the need for paperwork. There is no wastage of time, improved transport logistics which result in a number of environmental benefits as well.

•             Tracking  of Orders

With an efficient e-procurement system, it is possible to track supplies so that it is possible to know where they are and when they can be expected within the company. As more and more companies essentially require supplies to be provided in a timely manner, e-procurement is just the right solution.

• Controls

Consistent approval processes and formal workflows make certain that the exact level of agreement is applied to each transaction and that spend is directed to draw off existing contracts. As users can quickly locate products and services from preferred suppliers, compliance to policy is enhanced.

An efficient e-Procurement process can automate the procurement workflow end-to-end, from the order to the delivery and invoicing thereby improving the organizational efficiency. It also reduces the administrative costs of all steps in the procurement process. With the right cloud based e-procurement process, there is a considerable enhancement in the company’s control over procurement activities at all levels.

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Moving A Step Ahead in the Order Fulfillment Process

The customer satisfaction quotient in supply chain processis dependent on the success of the order fulfillment process. This process entails a perfect and meticulously organized operation of the processes right from the procurement stage till the final and timely dispatch management. In order to achieve success in the order fulfillment process a business has to ensure consistent quality, high visibility and on time delivery of the products. A lot of dedication, perseverance and resilience is required to achieve the expected standards and desired outcomes.

The order fulfillment processis an arduous task which may be replete with errors when handled manually resulting in dissatisfying results. If you have a supply chain business you need an automated cloud process that has the ability to handle all the processes smoothly and has the power to control the flow from end to end. A cloud process also helps in integrating the participants existing in the value network, thus executing a logical operation and also providing a high degree of transparency in the process.  

Thecloud process ensures optimized performance in the order fulfillment process and implements corrective action if the standards are not met. This gives you an opportunity on concentrate on the core competencies of your business as the administrative burden is handled by the process thoroughly. You are provided with the convenience of receipt management through validation and sourcing. The process helps you to monitor and control the procurement, processing, packaging, transportation and dispatch of each order with a complete report on the orders that has been received thus giving you a complete control.

The process also provides you the opportunity to monitor the trends with identification of bottlenecks and an in-depth analysis. It is an asset that helps in consolidating the data procured from disparate systems all around and converting it into simple material that helps you to make important and correct business decisions. You can access real-time information through the interactive dashboard.

The cloud process is a strategic intelligent element that provides your supply chain business with flexible, simple and proactive management tips to handle the order fulfillment process and strengthen the relationship with your customers.

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Importance of Cloud based Supply Chain Management Solutions

Supply chain management solutions are of great significance to every business organizations today. The two important aspects of revenue recognition are availability of products and sound market coverage. Both these aspects are dependent on sound implementation of the supply chain strategy. Simply put, as soon as a new product is advertised and launched in the market, all sales counters need to have it for customers to purchase. Any delivery bottlenecks that hinder the product delivery will make the customer loose demand and interest on that particular product that might in turn lead to low revenue. Transportation network management and design thus are of great significance to marketing strategy and supporting sales.

Two other important elements of supply chain management solutions are inventory visibility and inventory control. In any operations, these two elements are considered as cost drivers and have an effect on bottom lines included in the balance sheet. To any organization inventory is synonymous to value and is an asset. Every organization has its own criteria for inventory turnaround. It refers to how many times the same have been replaced and sold within a year.  Hence, the inventory health is indicative of the business health and condition.

Speaking of a global business scenario sometimes completed goods inventories are stopped at various distribution centers and locations, and are organized by third parties. There are cases when they are also held up in pipeline transportation rather than retail stocking points.  Owing to the fact that, any kind of inventory loss is synonymous to value loss, a sound control of inventory and visibility is an important aspect of the supply chain management function.

Today, service providers of supply chain management solutions use Cloud process for effective results. These cloud based solutions help various kinds of companies, for instance manufacturing, distribution, consumer good, transportation, third party logistics and retail to enhance and attain real-time authority on the supply chain. It works in the following three steps or approaches:-

• Streamline – Helps in setting up a supply chain with transparent quantifiable processes.

• Focus – Helps in recognizing and concentrating on the concerns that requires attention.

• Improve- Helps in making apt business decision that in turn optimizes and improves the supply chain process.

Supply chain management solutions with Cloud processes offers web-enabled visibility that covers up every supply chain customers and members to provide higher customer value and minimized cost.

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order management system, digital management