How to optimize your procurement process?
Procurement is the process of finding and acquiring goods, services or works from a third party mostly through a bidding process or a tender. The bidding and tender process helps the buyer in judging the lowest price for quality among all the suppliers who have submitted their quotation. This process covers almost all the agreements till delivery and payment.
A procurement manager's duty in an organization is to raise the quotation requests from the suppliers along with proper details. Shortlisting the quotation on the required parameters is the major role for the procurement manager. Major parameters in such cases are delivery time, required quantity, payment terms, return policy etc. Procurement solution can handle such things in a single table where all the quotations are gathered and sorted according to the parameters. A software solution in this point helps lots of conversation clarification.
Procurement solution in a company helps in tracking the supplier goods received, damaged, returned, etc. Action taken on such materials are also taken note. Throughout the process, every approvals, requests, are notified to the concerned persons in mails which helps to keep a follow-up even if we are busy with other works.
Organizations now need to move towards such procurement solution to move the goods transportation and handle the process in a quicker mode but it shouldn't put a heavy load on them.