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What Procurement will Look like in 10 Years

What Procurement will Look like in 10 Years

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What Procurement will look like in 10 Years

Procurement is one of the core processes in an organization, and the industry is witnessing a significant transformation as long term sustainable growth is getting prioritized over cost reduction. New technologies such as Blockchain and AI are being used for supply chain management to keep up with the increased need for digitization while maintaining a balance between servicing costs, regulatory conformity, and ethical sourcing. Digitizing procurement shall deliver efficiency in cross-border purchases, transparency between stakeholders, and enhanced collaboration.
Resources > Blog

Are You Underestimating MRO Costs?

Are You Underestimating MRO Costs?

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Are You Underestimating MRO Costs?

MRO significantly impacts the profitability of a business; it tends to get snowballed into monumental costs— and this has four simple solutions. First, tracking purchase history to obtain actionable insights into purchasing behavior. Second, vendor consolidation approach to get better purchase prices leading to cost savings. Third, enhancing overall cost reduction by gaining insights into volume usage. And fourth, creating a common framework for all shareholders with well-negotiated long-term contracts.