Given the competitive business landscape firms cannot survive without forging strong relationships with their vendors. To take charge of the procurement process and bring about optimal growth to their organization, companies must work to develop smart strategies that keep business operations running smoothly without negatively impacting profit goals. Many organizations overlook the complexities of indirect procurement and fail to gauge the long-term cost-saving and operational excellence goals.
To harness the full potential of the organization’s purchasing team, efficient digital strategies need to be put in place for optimal value realization, and this is where procurement and logistic teams need to work hand in hand. The procurement side would contribute to the knowledge of pricing and suppliers, logistics would contribute towards the logistical optimization of the goods handling.