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.
The right ERP solution can provide businesses with a fool-proof and future-centred approach to supply chain management. It gives business owners the capability to draw upon data in ever-increasing volumes and not be overwhelmed. At the same time, business owners can achieve integration between processes, datasets, remote teams, IoT devices or any other elements that are deployed within the supply chain.
