Until recently automation of processes was seen as a sign of the future. Nowadays it’s a global trend which has been becoming a standard in every company. E-procurement tools help Procurement Departments generate an added value for an organization. What’s the key factor to make the process successful?
Since B2B trade has moved to the Internet space, enterprises possess increasingly bigger data volumes. Although it has a different meaning for IT experts and different for procurement organizations. Are we witnesses of revolutionary changes or rather natural procurement role development into a strategic business partner?
…and not only a procurement system as that should be a title of this mini guide. Every system implementation brings a huge change in an organization. Very often the biggest pain for a company is not making a decision on buying a new system, but rather the system implementation. What to do to avoid disappointment?
According to the Wall Street Journal specialists taking care of millennials in corporations earn even up to 20 thousand dollars per hour. It shows what an important role employees born between 1980 and 2000 play on the job market. Millennials, thus generation Y, is one of the most dynamically developing social groups. Research shows that nowadays there are about 75 million millennials in the world and they are set to make up more than half of the workforce by 2020.
From the beginning of the new year most of the companies are searching for new trends in procurement. What will change and what will stay the same? Having read a bunch of the articles on the topic, we have decided to pick the trends which have a negative impact both on the processes, methodology as well as costs and supplier management.
The first news on the Kraljic matrix appeared in 1983 and was published by Kraljic himself.
It became amazingly popular almost immediately after it was announced and named a procurement breakthrough.
Until today the Kraljic matrix is considered as the basic tool for cost categorization in companies.
Unfortunately, the tool does not always work. Therefore, what’s wrong with the Kraljic matrix?
Nowadays almost every excellent and well-functioning organization bases its strategy on setting up and measuring KPIs (Key Performance Indicators). Surely, every company does it in a different way, but the goal is always the same: stay compliant with the company business strategy. And there is no reason to be afraid of KPIs as your work with reasonable KPIs will be just more effective and easier. It’s good to know that there are 5 conditions of good KPIs – SMART.
There are 4 key features which matter in business: : fluency, flexibility, visibility and forecasting. Those features are most wanted by business leaders while selecting and implementing software supporting various teams’ work. Every system, whether for HR, Finance or Sales should:
be so flexible to answer the needs of the companies which do not operate in a standard way
provide data flow
be able to analyze the data