Procurement a crucial activity:

Procurement is one of the most critical activities in the operations of any business. The most important task of the purchasing process is the receipt of materials as per agreed delivery dates depicted in the purchase order. The delivery dates normally consider the supplier’s lead time to manufacture and effect the dispatches.

Risk Management within the Procurement Activities:

The impact of failing to capture risk and not mitigate risk in time can lead to an issue which could potentially impact the companies causing, revenue loss, financial penalties, damage to reputation, loss of future business, brand, etc.

As we know Information is power, prior Information of any situations like possibility to dispatch in time, Rejections of materials received, etc can prevent disastrous results to a great extent. In procurement terms, a chunk of the problems related to production disruptions and stoppages can be mitigated by having a 360-advance overview of the supply statuses of the materials, expected delays, etc

Timely corrective actions can be effected to mitigate any potential delays, that can be substitute by exploring various workaround solutions like reducing the transit time, look for alternative sources for one-time purchases, spilt deliveries, make alternate production plan, etc

PW - 360 removes the ROBOT out of Humans!

Simplify your Procurement Process with Neuwera's PRO - Works 360

Keynote:

Procurement Made more Predictable

Usage of appropriate and effective tools will be the key to ensure a rewarding procurement experience.

It should be respected and shouldn’t be underestimated that procurement’s primary goal is to have the right parts, delivered at the right time, with the right quantity and the right quality.