Technical Product Procurement

Technical Product Procurement

Technical product procurement are a series of activities and procedures necessary to acquire IT products and services. Procurement management focuses on cost reduction and planning, while focusing on efficiency, accessibility, and sustainability of purchasing decisions.

5 Advancements for product procurement to adapt to:

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Cloud-Based Platforms
  • Allowing total control and oversight of service spending
  • Efficiently handing the process of sourcing, procuring and handling payments for service modenizing the business procurement services
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Analytics
  • Has the greatest impact on the procurement process over the next few years
  • Provides solutions to tackle challenges like uncertain decision-making or an inefficient use of resources
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Collaboration
  • Internal will drive productivity and savings
  • External will strengthen supplier relationship and reduce supply chain risks
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Mobility
  • Allows stakeholders the ability to participate in procurement functions any place at all times
  • Mobile services expectations are rising with the increasing millennial population in the workplace
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Automation
  • Key priority
  • Automation can:
    • Spot business needs
    • Eliminate repetitive processing
    • Manage suppliers
    • Track spending in real time
    • Monitor risks
    • Predict future demands

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