Let’s face it – even though procurement management is an essential part of successful businesses, it’s one of the most disorganized activities at many organizations.
More often than not, inefficient manual processes are the root cause of these challenges. These messy and wasteful processes causes delays, errors, and workarounds that result in much larger downstream issues such as:
Procurement is a core operational function of any business. Without the ability to obtain the necessary materials, a business cannot manufacture its products.
Traditionally, procurement’s most important goal was to lower costs. However, the pace of modern business has accelerated dramatically. Today’s businesses also operate on a global landscape sourcing materials and selling products across the world. That’s forced procurement to become a digital, measurable function aligned with overall corporate priorities.
Procurement vs Purchasing vs Supply Chain Management – business people tend to use these terms interchangeably. While they are related and are all part of a company’s finance or accounting function, there are differences.
Let’s understand each one and the differences between them in more detail.
Procurement is an essential component of any business. In order to operate effectively and produce its own goods and services, every organization must procure various goods and services from third party vendors.
CIOs at Universities and K-12 schools understand the importance and urgency of digital transformation. There’s tremendous opportunity to radically improve the student experience within the institution.
There’s a lot of confusion on what exactly digital transformation means when it comes to education.
Schools must be very careful when they plan activities for students. Whether it’s a study tour, sports activity or even simply using the student’s personal information for a media event, it is of utmost importance that the school first gets the necessary consent forms signed from the parents to avoid any confusion later.
Change is inevitable. Business speed is accelerating relentlessly. Think about it: Uber and AirBnb didn’t really exist 10 years ago. Today, they’re giants that have caused massive upheaval in major, entrenched industries.
Presbyterian Manors of Mid-America (PMMA) has been providing quality senior services to residents of Kansas and Missouri for more than 65 years. PMMA’s 2,200 employees work tirelessly to provide vibrant, quality living to more than 2,300 seniors across 17 communities.