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.
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.
Procurements
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.
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.
Payments
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.
Aavenir : Monthly Roundup
Explore some useful articles published on leading websites in past few weeks.
Event Updates
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.
3 Ways to Prepare Supplier Questionnaires
Read 3 common ways to make supplier questionnaires creation faster and effortless.
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.
What would you like to see in the next newsletter?
We look forward to your feedback at contact@aavenir.com, which will allow us to add more relevant information in subsequent editions.