ProcurePulse May 2020

The Monthly Procurement Insights and Trends Roundup

Coronavirus is changing the world in dramatic ways. The pandemic conditions we are in have many downsides, but we are starting to see many positive changes as well: less polarization, a revived appreciation for the outdoors and life’s other simple pleasures, and the amazing and innovative ways businesses have adapted technology to collaborate remotely. And this applies to procurement and sourcing professionals too. No one knows exactly what will come, but here is our best stab at creating a guide to the unknown ways that procurement and sourcing operations — will change in the future.

Around the Web

Explore some useful articles published on leading websites in past few weeks.

Supply Chain Management

Ramping up the supply chain post COVID19

COVID-19 has opened up opportunities to take a hard look at the entire supply chain and reimagine it for tomorrow’s needs through a mix of digital and physical infrastructure.

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How can manufacturers keep the suppliers afloat?

The current crisis is a dire threat to Supplier ecosystems. Large corporations should act now to prevent thousands of suppliers from collapsing — as perhaps their own survival is also at stake.

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Contract Management

Difficulties performing obligations under your contracts due to the COVID19?

Force Majeure Clauses, Frustration and Illegality routes will be of no assistance if it simply makes contract performance more difficult or uneconomic. In such cases, seek to engage with the other parties to agree a variation to the contract.

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How vendor payment terms are swinging widely from 5 to 180 days.

While majority of major retailers are extending payment terms a report from CreditSafe says supermarkets have widely accelerated vendor payment practices to promote the financial health of their supply chains.

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Aavenir : Monthly Roundup

Explore some useful articles published on leading websites in past few weeks.

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Recent Blogs

What is Contract Lifecycle Management?

While majority of major retailers are Contracts define the responsibilities, rights, and obligations for the enterprise relationship with suppliers, vendors, partners, customers, or employees.

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3 Ways to Prepare Supplier Questionnaires

Read 3 common ways to make supplier questionnaires creation faster and effortless.

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Automating Invoice Approval for PO vs. Non-PO Invoices

Learn some of the best practices that needs to considered while processing the PO & Non-PO Invoices. 

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