For supply chain leaders, strategic procurement software and sourcing optimization play a vital role in mitigating immediate risks and planning for future challenges. Success depends on finding the optimal balance to satisfy all stakeholders: the right equilibrium between supply and demand, inventory on hand and cash in the bank, strategic partnerships but firm supplier management.
There is no doubt that the COVID pandemic has tested manufacturers and contingency and business continuity plans to the fullest, with 60% of companies having reported supply chain disruptions. However, for those who rely on materials sourced from volatile markets, subject to shortages and price instability, managing change is the norm, with shifts in supply chain priorities compelling procurement to keep pace by adapting a flexible, modernized approach in support of manufacturers and distributors achieving optimum growth and market share.
This allows for better decision-making and the ability to strike the right balance between rapidly responding to market disruptions and ensuring the long-term strategic growth of your business in a constantly changing world.
Benefits of Procurement Automation
Reinforce your
supply chain
Improve on time and in full delivery
Hedge against the obsolescence of raw materials stock
Improved spend visibility and cost control
Strenghten supplier relationships
Improve governance and transparency in the purchasing process
SYSPRO ERP provides the necessary controls and traceability to set limits and prevent overspending. Requisitions are automatically routed through relevant managers while workflow alerts prevent bottlenecks in the process. AI functionality detects anomalies, mitigating the risk of fraudulent activities.
Collaboration and engagement between buyers and suppliers are facilitated by SYSPRO’s Supply Chain Portal.
This integrated online platform minimizes document handling, improves transparency and governance, streamlines and speeds the procurement process and the ultimate reliability of fulfilment and delivery.
SYSPRO ERP provides advanced forecasting, demand planning, and modelling with “what-if” capabilities that show the trade-offs related to inventory and fulfilment time – allowing you to accurately determine purchasing requirements and hedge against the obsolesce of raw materials stock.
SYSPRO ERP delivers core financial and accounting functionality which provides timely, accurate and efficient control of expenses and payments – but more than that – it includes integrated manufacturing and operational capabilities that provide a 360-degree picture of the factors that influence financial health, in real time.
SYSPRO ERP has the built-in digitalization capabilities to create a truly agile supply chain with end-to-end visibility and collaboration across the entire ecosystem.
Procurement is increasingly being expected to become more influential in the overall business strategy – specifically in the areas of mitigating risk, creating a competitive advantage and driving growth.
The key capabilities that SYSPRO ERP offers at each step of the procurement process help make strategic supplier management more resilient and responsive aids in fostering supplier collaboration.
The evolving role of procurement in the global supply chain. Learn how you can optimize your purchasing activities for real bottom-line impact.
