The vital role played by procurement functions to quickly source personal protective equipment (PPE) and other critical supplies has proven that the procurement team can deliver at speed. But, how to ensure that procurement spends are done wisely? How to bring lean-management discipline in purchase function to increase capacity dramatically and reduce risks and delays? Procurement leaders should look for an opportunity to consider how spend transparency, analytics, decision rules, alerts, smart payments and predictive intelligence could help them respond to these challenges even faster. This months’s ProcurePulse explores the latest articles, which you may refer to build resilient source-to-pay operations and supplier footprints for the future.
Explore some useful articles published on leading websites in the past few weeks.
Properly applied, the disciplines and systemic thinking of lean management can become a strategic weapon: aligning purchasing to internal customers’ interests, rethink the end-to-end procurement process, and transforming the effectiveness of strategic procurement activities. Read how lean management enabled the procurement team at a global insurer to increase capacity dramatically while reducing risk and delays.
With all the risks and opportunities for operational failures, global supply chains managers can all but guarantee that at some point something will go wrong somewhere in the supply chain, and, particularly with the rise of social media, that consumers will hear about it. Read more to know how firms can mitigate damage.
High-stakes negotiations tend to produce a lot of anxiety. There are often opportunities to change a deal’s scope and achieve better results. Read some of the key strategic principles negotiators should apply to their next complex deal.
Law firms and in-house legal departments agree that outside counsel must increase use of legal technology to be more efficient. Read Bloomberg Law’s Legal Operations Survey (2020) describing how Law firms have improved their preparedness to use technology since last year.
The impact of the pandemic on B2B payment behavior has become all-too-clear in recent weeks. Read new research, which is beginning to roll in to take a broader view of exactly how the crisis has affected supplier payments.
The COVID-19 pandemic has proven that procurement functions can deliver at speed. Read more to know how can they also ensure that they’re spending wisely?
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