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Reduce Costs and Increase Sales with Digital Procurement Strategy

Reduce Costs and Increase Sales with Digital Procurement Strategy

Earning countless leads at reduced costs is an all-in-one objective of every organization and will come out feasible with a digital procurement strategy. Digital procurement ultimately provides evidence-based options for buying decision making under conditions of scarcity and improves the accuracy. With Digital procurement,  Strategic sourcing is becoming more auspicious with Supply Base and Costs to reach transparent agreements,  Transactional procurement is becoming more computerized with minimal manual intervention to address inconsistency, and  Supplier relationship management is becoming more dynamic. [...]



Customer Engagement towards Supply Chain Sustainability

Customer Engagement towards Supply Chain Sustainability

Business is about bridging gaps and Customer Engagement is the biggest asset of any business. An organization should do everything in order to keep valuable customers engaged at all times because a customer can create or smash a business. Nowadays, buyers are increasingly using Sustainability criteria to evaluate potential Suppliers. But customer engagement is a tough takeover to pull off. Although, Sustainability is an ongoing practice but Focusing on Supply Chain Sustainability is mandatory to satisfy multiple diverse objectives such as maximised profits with minimised environmental impacts and enriched social responsibility. [...]



Benefits of Punchout Catalogue for MRO Sourcing

Benefits of Punchout Catalogue for MRO Sourcing

As Compare to Traditional Paper based Analog and Manual patterns, Punchout Catalogue for MRO Sourcing give modern procurement teams an authentic method to improve not only the speed and accuracy of purchasing processes, but also deliver an Improved Communication with Better Productivity due to faster order processing. Buyers can find better details about items along with their availability, available discounts and related shipping costs in order to book within their purchasing system, which will be updated by the prestigious suppliers in real-time. [...]



Procurement Stakeholder Engagement & Communications

Procurement Stakeholder Engagement & Communications

Effective Stakeholder engagement and clear Communication is a key to procurement success in an organization. To strategize the outcome of an organizational goal, contacting stakeholders is important. Developing compatible relations, understanding the details of their procurement estimations, and to maintain consistency in communication lets an organization to achieve its objectives as effectively as possible.[...]



How B2B Online Marketplace can Reshape the Indirect Procurement

How B2B Online Marketplace can Reshape the Indirect Procurement

Online B2B marketplaces offer multiple benefits to business like huge transparency in product, service, and supplier availability along with the pricing and purchasing terms. Trend of new Pressures and Offerings, Inspite of Complex, indirect spend categories are reshaping the future of Indirect Procurement [...]



Identifying & Exploring Pillars of Strategic Procurement

Identifying & Exploring Pillars of Strategic Procurement

Procurement excellence help businesses improve cost efficiency and drive better business values. Every organization aims to ensure the timely supply of goods and services in line with business goals at reduced risk involved within the supply chain. Co-operation from all departments is needed throughout the organization to source and regulate external resources such as identifying the need for goods or services, evaluating and choosing strong suppliers, negotiating prices and creating buying contracts to get the best. [...]



REASONS TO WORK WITH A MRO INTEGRATOR

REASONS TO WORK WITH A MRO INTEGRATOR

In the MRO sourcing world, various kinds of activities are pursued by the procurement services but since the present global scenario is compelling the companies to shift towards MRO outsourcing and only do the very essential within the company on their part. The primary aim has been improving the quality of the critical operations and significant cost reduction. This shift was due to the impact of the global financial crisis witnessed in 2009. Since then companies have prioritized cost savings over connecting with new suppliers. Though the modern-day distributors are the best in terms of providing service and competitive pricing, they do no justice in providing assured total cost savings from the angle of MRO procurement and that's what differentiates them from MRO integrators. [...]



How Technology and AI can help you in Automating your Supplier selection and MRO Procurement during COVID times

How Technology and AI can help you in Automating your Supplier selection and MRO Procurement during COVID times

The challenge of MRO procurement is growing and putting every organization in a need for smarter MRO Procurement. Digital Solutions are adapting gradually for capturing and sustaining more values in MRO Procurement and Supplier Selection Automation system. They are helping procurement functions better understand, analyze, and improve their MRO spend which leads to better contract compliance, inventory reductions of up to 30 percent, and cost savings of 15 to 20 percent. More broadly, these technological solutions can help procurement functions build critical digital infrastructure and analytics capabilities, turning MRO into a value driven category that sets a new edge for alliance between procurement and operations. [...]



Join Hands with IK to transform your procurement space with the advent of Industry 4.0

Join Hands with IK to transform your procurement space with the advent of Industry 4.0

Every organization dreams to pay the best prices for goods or services, saves time by choosing the most reputable vendors, and seeks minimize order delays and faults. Moreover, Supplier, Manufacturer, and the Customer have to be in a single Digital Ecosystem where all relevant data and information can be accessed immediately in the cloud.[...]



Proper Usage and Selections of Oxygen Concentrators

Proper Usage and Selections of Oxygen Concentrators

Amid Pandemic, high demandable Oxygen Concentrators are proving a boon for the people with breathing disorders. Not only it’s a light weight and cost-effective device but also good for hospital & home use. Oxygen concentrators are devices which work like an air conditioning unit helps to concentrate the room air into pure, medical grade oxygen. It should be of good quality to reap the best benefits of O2 therapy, Else a patient has to struggle for required oxygen to live. [...]



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