“The Future is Now”, we borrow the term to underline the fact that the birth of future takes place now. Businesses are rapidly re-evaluating their procurement operating models and market strategies not just to withstand the market forces, but capitalise on them.
A procurement executive needs to understand what he buys and why, how it affects his business and what the potential risks are. For an organisation with facilities in more than one location, the detailed understanding of how procurement happens may be beyond the scope without a proper management tool.
In the corporate procurement, this calls for great responsibility requires us (the procurement executive) to be visionary and innovative while being exceedingly committed to fulfilling the requirements.
How does the future of procurement look?
The future of procurement is expected to be driven by an increasingly centre-led approach, characterised by constant connectivity to the sublets and enabled by technology.
The current system used for purchasing office supplies is a fill-in-the-need system. Simply put, it can help to find the best supplier for a location. Though we have made incredible advances in procurement and technology, a centralised procurement process has remained much the same.
Centralised Procurement Then:
In early 2014, centralised procurement was all about “control”, “power” and “authority”. And ultimately, if the organisation is run in a reasonably de-centralised manner, it was unlikely to accept a highly controlling centralised procurement function. The purchasing decision makers were at the company headquarters. But it was never designed to mislead you into a bureaucratic system.
Centralised Procurement Later:
In the new paradigm, we will have to start looking at it from the perspective of “process optimization”, “cost reduction” and “setting a direction”.
An organisation’s activities could be spread over a number of plants or locations. And for a large organization, it requires a massive amount of resources and tools in order to operate at peak levels. One of the primary reasons why companies have trouble managing their purchasing practices is because different purchasing teams procure in different locations and are “not tracked”.
Over the years, Kobster has looked into how strategy with technology could address this dilemma. Whereby how can procurement gain some of the undoubted benefits of aggregation and transparency.
With our eProcurement Tool, businesses gain 80% more visibility into their procurement process.
Our real-time approval workflow empowers enterprises to have more control on purchase requisitions. It reduces all human errors to save precious time and resources; thereby, improving efficiency more easily.
Some of the other benefits of our eProcurement Tool:
- Purchase all the Office Supplies; i.e., from stationery to the pantry, electronics to cleaning supplies through us.
- Get your products delivered across 5 Cities without any delivery charges.
- We have a superior Quality Check process to ensure we serve you the best.
- We have a dedicated Relationship Manager assigned to each customer.
- Accurate Reports & Analytics to help you save costs.
When you incorporate all your procurement process into a single system such as Kobster, your entire procurement becomes streamlined; free from errors and risks. It is, therefore, time you apply yourselves to the hard changing system that is hardwired to embed itself in your business. If you want to learn more, check Kobster.com!