Procurement thinking is a strategic approach to sourcing and procurement that focuses on the entire supply chain rather than just the purchasing process. With this approach businesses can transform their sourcing and procurement operations for greater value creation and innovation.
A better understanding of the differences between ‘Procurement’ and ‘Purchasing’ will make it clear that the two terms are not interchangeable. They are differences that any organization operating in today’s business climate needs to know.
Ultimately, a powerful, digital solution with a high degree of automation becomes essential once an organisation’s requirements around spend management approval become more advanced and finely-tuned. Support your team to work more effectively and efficiently with Epicor’s Advanced Requisition Management software.
