The COVID-19 pandemic has compelled companies to prioritise their procurement course of as a key consideration.
Environment friendly procurement can mitigate danger, drive development, and provides your manufacturing enterprise a aggressive benefit.
To assist manufacturing companies navigate this course of throughout the international disaster, main manufacturing ERP supplier SYSPRO has written a whitepaper that particulars 5 vital methods to enhance your procurement course of.
A abstract of those methods is printed beneath.
1. Put together for uncertainty
The guide technique of gathering and deciphering details about suppliers, markets, and environmental elements is a factor of the previous.
The brand new method is data-driven and allows real-time determination making and ahead planning.
2. Finish-to-end visibility
It is necessary that companies have a single platform the place the whole lot from early-stage planning to last supply may be tracked.
That is pushed by embedded AI capabilities which give real-time intelligence, actionable insights and proposals that inform different areas of the manufacturing course of.
3. Embrace the limitless potential of digitalisation
Digitalisation creates new implications for the way the fashionable and future enterprise will function.
These applied sciences provide new challenges to your manufacturing enterprise, however by embracing them, you may be setting your enterprise up for long-term success.
4. Construct a sturdy provide chain
Manufacturing companies which were working with skinny margins have been impacted the toughest by the COVID-19 pandemic.
They’ve discovered rapidly that the procurement course of must be strong and resilient.
That is why companies must construct greater buffers in order that they’re able to take care of crises they might encounter.
For a lot of companies, this may require a complete reengineering of the provision chain.
5. Agile sourcing to mitigate danger
It has develop into frequent for provide diversification to deal with driving down prices to maximise revenue margins.
Nonetheless, as provide chain disruptions are taking place extra often, it has develop into vital that this be balanced with danger mitigation.
Whereas this will value extra within the brief time period, it protects you in opposition to bigger, long-term losses.
An ERP resolution is essential
A complete ERP resolution is essential for manufacturing companies trying to streamline their procurement processes.
SYSPRO ERP affords built-in digitalisation capabilities that assist manufacturing companies create an agile provide chain that gives end-to-end visibility. It additionally allows you to optimise your organisation’s provide chain in each the brief and lengthy phrases.
Moreover, SYSPRO lets you decrease buying danger, enhance governance, and keep your negotiated agreements.
Click on right here to obtain the complete whitepaper.
This text was printed in partnership with SYSPRO.