Procurement finds its challenges and difficulties in many aspects for any corporate. One of such is purchasing goods from different vendors which make it hectic and confusing for many of the procurement managers. Let us now discuss in detail about the pros of procuring from a Single vendor as follows.
It’s rare to get best-in-class quality for every feature with different vendors. Not every purchase turns out to be worth the money. With careful selection, one can be able to find a single vendor likely be the best in one-to-several areas. Only a single vendor can provide a well-discounted cost as the procurement quantity is high.
We are very much in the tech world. Procurement is no exception to that. Technology has brought down all the pain and risks in procurement. A single portal will help a procurement manager to choose, bargain, purchase, get an invoice and do pay for their procurement. It will generally be less challenging to install single-vendor solutions because it’s only one set of programs/protocols to integrate into your existing systems.
Most importantly you’re only dealing with one vendor, after all! It will reduce your time conception in many ways. The saved time can be utilized on other productive measures which help the company grow and it also reduces the unnecessary manpower and money spent on that.
The procurement manager probably sees major updates to single vendor solutions much more infrequently. The updates/upgrades will likely be much more comprehensive which gains the momentum for the company or the brand. In a single vendor system, a company or its procurement employees will likely need less training overall but assure to get more training sessions from the vendor. The brand/company gets the chance to have an online guide user also.
If it’s a big single vendor, it’ll likely stay in business for the long-haul. Above all, if that vendor delivers goods with their own logistics not relying on another logistic partner, is the one you should opt for. A good procurement company with all these facilities can definitely provide quality goods at a reasonable price.
Kobster, as the pioneer in establishing India’s first E-procurement tool Kobster Elite, makes procurement process easy for the corporates. Kobster’s service remains as a value added to the procurement process also. Kobster’s tie-up with finance companies helps the Small and Medium Scale vendor to do big business without any credit timeline.