We all keep hearing about CEO being scared to hire because they are afraid of a double dip recession or a major hit from an upcoming glut of foreclosures.
One way to hire is to stop worrying about others and focus on you. If your business model is tight survival is more up to you than it is external forces. To that end there is a lot that e-procurement tools in the form of the e-RFX process can do to help you in the upcoming fourth quarter.
Below is a list of twenty benefits retailers can gain by using these tools particularly those that are offered in the form of Software as a Service. If you don’t believe they will help you in this quarter, what better time to start than 90 days prior to the New Year.
This list is not in any particular order.
1. Guaranteed to improve net earnings immediately
2. Guaranteed to improve safety immediately
3. Guaranteed to improve Corporate Social Responsibility.
4. Guaranteed to produce new sources of supply
5. Retail has less spend assigned than any other industry
6. Streamlines the procurement process for the better
7. Will hold suppliers accountable to your standards.
8. Will improves quality
9. Will provide cost avoidance in a volatile market such as pulp.
10. Will create a competitive environment
11. Will drives reliable market pricing
12. Will maintain a reliable history for future comparison
13. Will educate your suppliers as to how retailers wish to procure products
14. Supplier training eliminates questions
15. Will improve your product specifications
16. Will improve negotiations.
17. Will improve your carbon footprint
18. Will provide a simple award of business process
19. Will free up your peoples time for other tasks
20. Works for procurement of all product categories
This author is not sure why a derivative of this list could not become the mission statement for any procurement department.
As always, we look forward to and appreciate your comments.
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