Over recent years, there have been various industry developments that served as or caused trends in procurement. These procurement trends include technology changes, novel strategic approaches, new processes, and necessary adaptations to change. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow.
Explore 5 pro tips procurement best practices for an effective procurement process which can help your organization ensure best value and timely delivery.
A Look into the Future of the Food and Beverage Industry Post the COVID 19 Pandemic- SpendEdge’s Vivek Sikaria Offers His Perspective on the Future Course of This Industry
There is no doubting the fact that enterprises in the food and beverage industry are riding the...
The rapid rise in digital networks, internet and technology dependency, and altered employment terms has led to various changes for industry players in the IT & telecom industry, and companies often find themselves struggling to find the ideal partners to help them keep pace with their rapidly evolving market. Supplier identification helps companies choose potential business partners that are supportive, collaborative, have similar ambitions and goals, and stay ahead of the curve. SpendEdge provides companies with unparalleled actionable insights to address the various challenges in their industry, and implement the supplier identification process efficiently, leading to sustainable, robust, and strategically cohesive partnerships.
Procurement has become an imperative and highly contributive factor in the success of a supply chain, company, or industry, and undermining the value can lead to major pitfalls and losses for businesses. In the BFSI sector, the value of proper processes, digital and cloud-based tools, procurement market intelligence, and procurement best practices has become increasingly apparent, and failure to partake can cause customer dissatisfaction, a lack of internal collaboration, and many other challenges. At SpendEdge we aim to target these challenges, mitigate unnecessary risks, and improve supply chain efficiency by capitalizing on ideal opportunities, sufficiently utilizing procurement best practices, and maintaining inter-departmental collaboration.
Staying ahead of the curve can be challenging in versatile spaces such as the retail industry, and to keep pace with rapid change, companies must choose partners that they can work closely with to track, evaluate, and strategize for upcoming market dynamics. Suppliers that remain trend-conscious, collaborate with their strategic partners, help develop long-term strategies, and mitigate potential supplier risks are the ideal fit for companies in this industry. SpendEdge helps companies leverage supplier benchmarking to identify the best partners, vendors, and suppliers, maintain a competitive advantage, and always stay ahead of the curve in a competitive industry.
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