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Online Procurement System: Guide to Choosing the Right Tool

Precoro

Procurement operations are no exception. In fact, 43% of GPOs that took part in the 2023 Global Chief Procurement Officer Survey cited overall procurement risk had increased significantly as compared to 20% in the 2021 study. Keep reading to learn: What is an online procurement system? Let’s break them down.

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Supplier Relationship Management Software: The Best Tools & Strategies

Precoro

According to Gartner , 88% of procurement leaders have significantly increased their focus on supplier collaboration over the past 24 months. In this article, we explore what SRM software is and discuss proven strategies for efficient partnerships with suppliers. Keep reading to learn: What is supplier relationship management?

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Why Procurement Management Tool is a Must for Efficient Purchasing

Precoro

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole. Lack of Transparency.

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Optimizing Aftermarket Inventory: How ToolsGroup Helps Manufacturers Navigate Complexity

ToolsGroup

The automotive aftermarket industry is facing a series of complex challenges as it evolves. With a growing number of older vehicles on the road, the aftermarket industry faces greater pressure to optimize supply chains, ensuring critical components like brakes, tires, and batteries are readily available to meet rising demand.

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What is a Purchase Order System? [Complete Guide]

Unleashed

Purchase order (PO) systems are software tools that help you manage the end-to-end purchase order process. They streamline procurement workflows by automating key tasks such as purchase order creation, approval, distribution, and tracking. What is a purchase order system?

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Leveraging Software Solutions for Enhanced ERP and Inventory Performance

RFgen

Prioritizing technology solutions in today’s digital environment is a necessity. Gone are the days of paper inventory tracking and manual data entry. The businesses of tomorrow need technology solutions that give real-time information in order to make key business decisions when it comes to inventory.

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Group Purchasing Organizations: Principle of Work, Pros, and Cons

Precoro

Small companies may also lack the resources to create a dedicated procurement team for proper sourcing and supplier vetting. Group purchasing organizations can be the perfect way for these companies to increase cost savings. Learn how they work, their benefits and limitations, and how they fit in with procurement software.