Have you ever wondered who procurement is really for?
Today’s blog is by Margaret Stewart, Executive Assistant at SafeSourcing.
Whether you have been involved in the business world for just a short time or for decades, despite whether you are at the top or bottom of a company, you probably have heard about procurement, but might not really know too much about it. A common misconception is that procurement is just for big companies or retailers, or that a procurement company just couldn’t help you. Procurement is, in fact, for everyone.
First, if you aren’t familiar with what exactly procurement is, it is defined as the “acquisition of goods and/or services at the best possible total cost of ownership, in the right quantity and quality, at the right time, in the right place for the direct benefit or use of governments, corporations, or individuals, generally via a contract.” In other words, it can help anyone get the goods or services they need.
But procurement is more than that. It can help to lower the costs of those goods and services, realizing immediate up-front savings, as well as back-end savings on things like warranties and discounts. It also allows for a better purchasing process, providing better visibility into an organization’s spending patterns and allowing for better forecasting of future spending.
If those reasons aren’t enough, e-procurement, like SafeSourcing’s suite of tools, can help with a multitude of other aspects. First, through their electronic database, vendors are hand selected for their ability to deliver quality goods and services and are researched to ensure the specifications match exactly what is needed. The electronic platform makes the procurement process easy, understandable, and smooth to run, which can free up the time of your employees, allowing for better utilization of your workforce. On top of that, it can help with contract management, document management, and overall supply chain management.
For more information on e-procurement and how SafeSourcing can help, or information about our Risk Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.