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You can turn your procurement department into a well-oiled machine if you streamline the planning and purchasing process flow. As your company grows and evolves, the Excel Hell that once served your business so well may now fail to get the job done in an efficient manner. 

If you want to optimize your workflow, you may need to invest in new technology and adopt more modern procedures. Modern software like Current SCM offer options for cloud-based procurement systems to improve your supply chain management. Here are just a few of the ways you can improve your workflow and optimize your supply chain:

Supply Chain Procurement

Invest in e-Procurement Software

The first step in revamping your supply system involves the identification and acquisition of cutting edge supply chain software. Your company needs modern digital and collaborative solutions that meet your every demand, but you also want software that leaves room for your company to scale and grow. 

At Current SCM, our advanced e-procurement software features: 

●      Support for direct and third-party purchasing

●      Realtime data sharing

●      Intuitive automation

●      Endless customization

●      Detailed materials management

●      In-depth supplier management

●      Unparalleled security

●      Infinite scalability

●      Insightful analytics

Establish Processes That Encourage Full Compliance

Set up your supply chain software in such a way that it becomes foolproof. By predetermining strict software parameters regarding approval, payment, and other processes, you can ensure that employees follow company guidelines rather than search for potential workarounds. 

Additionally, you can encourage full compliance with all rules related to procurement by developing processes that prove faster and easier than less formal means. Ideally, you should set up your workflow so that employees want to follow established procedures. Workflows should never be a hinderance to project teams.

Integrate as Many Processes as Possible

As you begin to establish supply chain workflows, you should look for ways to integrate your existing technological infrastructure with your newly acquired software. Allowing your new system to communicate with other departments will save your company considerable time and money. 

Connect your software with inventory databases, payment systems, and other operational applications to speed up the identification of company needs, requisitions, approvals, the transmission of purchase orders, and much more.

Facilitate Wholehearted Adoption with Comprehensive Training

To optimize your workflow, you will need to do a lot more than introduce your staff to the new e-procurement software. You should coordinate training sessions that get into the nitty-gritty of what your team can accomplish with modern procurement technology. Not only will your team feel more prepared to use this new software, but they will also have invested so much time in learning about it that operational frictions of adoption will be minimal, and users will be able to take full advantage of the new system. 

Consider incentivizing the use of your new software with rewards for reaching goals related to your budget, purchases, three-way matching, and other measurable aspects of your procurement system.

Research Estimated Costs and Develop a Budget

With real-time price updates and helpful analytical tools, you can perform in-depth research into your estimated future costs. The improved accuracy of cost estimates will assist your team in the creation of a realistic budget, increasing your company’s chances of success. 

Once your e-procurement software goes live, you can track how well your team sticks to your budget and make adjustments on the fly. Keep tabs on changing prices and monitor the availability of materials so you can try to get the best deal and make sure your company never has to go without essential supplies.

Create a Procurement Action Plan That Is Easy to Understand

Before unleashing your procurement team on the world, you will want to revise old strategies and devise new ones. Put together a comprehensive action plan that everyone in your company will understand. Set ambitious, achievable goals and map out how your procurement department will get there by setting waypoints or milestones. 

Creating flexible strategies that your team can quickly implement and modify according to emerging needs sets up your employees for success. Make sure to schedule regular meetings regarding your procurement workflow, especially during the first few weeks after making changes. You should ask for and consider all feedback from your team, who will have firsthand experience with the new system.

Procurement Pro

Free up company time and money by optimizing your workflow today! Visit Current SCM to discuss your company’s needs and discover what our state-of-the-art system can do for you.

Related Reading: A Cheat Sheet for Your Digital Revolution

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