“However beautiful the strategy, you should occasionally look at the results.”
(W. Churchill)
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Strategic procurement – key to business success
Almost every day we hear about strategic procurement, but in practice, businesses rarely apply this concept. Application of strategic procurement is one of the most powerful models available to procurement professionals and companies in general, which leads to achieving significant business results. With the development of the profession, strategic procurement became one of the most important models in successful execution of goals set and achieving enterprise excellence.
Strategic procurement is the procurement that understands the needs of business. It is an approach that formalizes the way data collection and centralization is used in companies, in order to influence purchasing power and achieve the best possible value for money. Strategically, the emphasis is placed on data analysis and it is of crucial importance to have insight into data at any time. In order to be successful, we must know what we have bought, by whom, at what price and in what quantities, as well as to have insight into many more details about these things. The difference between conventional procurement in relation to strategic procurement is to monitor the overall life cycle of the acquired product, not just to achieve the lowest price at the moment of purchase.
Some benefits that strategic procurement can bring to your business are:
- Improving relationships with suppliers
- Simplifying business processes
- Focusing on saving possibilities
- Quality improvements
- Encouraging innovation and creative thinking
- Encouraging team work and communication between employees
- Improving cooperation between business
In order for strategic procurement to become a part of the business strategy, it’s crucial to implement a quality software solution for operational procurement and analysis, such as Ensolva. Actually, it’s impossible to get accurate, real-time data quickly and easily without using the procurement software, neither conduct analysis in order to make timely decisions based on objective business information. By implementing Ensolva, systematize your data and make it available at any time. In addition to systematization itself, Ensolva will carry out all the necessary analysis for you, thus creating a solid foundation for quickly and objectively defining your procurement strategy.
If you don’t change anything, nothing will change, and the same approach will give you the same results. Technology is advancing at a daunting pace, and smart business solutions have never been more accessible. Change your habits and make strategic procurement the base for your business success. With Ensolva, take advantage of knowing your company well and manage risks easier than ever!
