Purchasing Vs. Procurement: What Is The Difference?

Purchasing and procurement are two words that we often seen used interchangeably. This mostly occurs among non-professionals, where the word procurement is used instead of purchasing and vice versa. While the two might appear to share the same meaning, they have different functions.  The inability to identify the differences between the terms may lead businesses […]

How e-Procurement Platforms Enhance Supply Chain Management

In this day and age, companies are exploring various ways to optimise their supply chain management and actualise cost saving in the management process. One of the ways this is done is by incorporating e-Procurement solutions to ensure a seamless workflow.  e-Procurement is software-based automation that automates procurement and user processes to allow for simplified […]

How To Improve Your Indirect Spend Management

Managing indirect spend is not only pivotal for every organization’s financial standing, but to also have the transparency in the company’s cash outflow. In assessing strategies, there needs to be a clarity between indirect and direct spend as managing between the two requires different set of tools and plan of action. Indirect spend generally includes […]

Managing Suppliers and Availing Cost Reductions

An ultimate goal for any business is to make profits that can contribute to the company’s probability of enlarging its scale and impact. To achieve this by delivering its products or services, a business involves an interplay of several parties that are part of its supply chain. The suppliers are one such party of importance. […]