Scanning the world of procurement thus far into 2019, our verdict is that digital technology continues to dominate change — but that at the same time many businesses are hustling to keep up with it. One frequently cited survey reports that only about one-third of executives have implemented digital technology in procurement and related services.…
The use of big data analytics in various business environments continues to have a positive impact on the decision-making process, as a result of the insight it provides. Individuals who utilize e-procurement software are part of those who are reaping the benefits of big data. An analysis of the importance of big data in e-procurement,…
Businesses use procurement technology solutions to manage procurement of supplies, parts, inventory, and equipment. Although businesses of every size should strive to run a lean operation, large organizations face unique challenges and opportunities in their procurement processes. Procurement management includes making purchase decisions on price but also on other components of value, such as quality…
The larger a business or organization grows, the more resources it takes to keep the organization supplied. Indirect materials are often difficult to track since they are not accounted for in COGS. Indirect spend is often controlled by multiple people within an organization. Janitorial supplies, facilities and maintenance replacement costs, office supplies, and groundskeeping all require…