Digital Procurement: How to Cut Costs Without Losing Profitability

Procurement

Imagine for a second that you own a global, fast-food chicken restaurant chain.

You know, one that sells Portuguese, peri-peri style chicken. The kind of place that sells lunchtime meals at dinnertime prices. You know the type I mean?

Now think. What’s the worst thing that could happen to your fast-food chicken restaurant chain?

A bout of food poisoning would be pretty bad, or a new KFC opening up right next door would be pretty demoralizing.

But what about running out of chicken? As an internationally recognized chicken restaurant, that would be pretty devastating. Right?

Well, that’s exactly what happened to Nando’s over the New Year holiday period.

We’ll come back to the Nando’s story later, but for now, let’s tuck into this Process Street post on procurement…

In one ‘fowl’ swoop, we will cover the following procurement topics:

Egg-cited to start? Let’s go!

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Vendor Management: What It Is and How to Excel at It (Free Templates)

Vendor Management

Learning about vendor management is no easy task.

As soon as you search the words ‘vendor management’ in Google, you’re bombarded with details regarding vendor management systems, rather than information regarding vendor management itself.

And considering that 88% of companies use at least one outside vendor, and 47% more than 10 vendors, vendor management is a topic that, at some point in their careers, many employees will need to understand.

That’s why in this informative, easy-to-understand post, I’ll tell you everything you need to know about vendor management – and in layman’s terms.

Specifically, you’ll learn exactly what vendor management is, the benefits of it, and the process of managing vendors successfully. To finish off, I’ll even provide you with (free!) vendor management templates you can jump into and use straight away. Just read through the sections below:

Now, it’s time to get a solid grasp on vendor management.

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8 Logistics Management Processes to Perfect Your Supply Chain

logistics management - header

No matter what kind of business you’re in, if you have a supply chain then it’s vital that you have a system of logistics management processes to guide how that chain runs.

Without set, trackable methods for ordering and managing stock, fulfilling customer orders, inspecting your facilities and so on, you’re leaving the success of your business (and the level of waste) up to random human error.

One participant described a customer who used air freight for items that went into long-term inventory. Another recounted how individuals ordered 100 units of a product which they had not even used 30 units of in the previous year. Uncoordinated buying led to different groups in the same facility paying different prices for the same goods and ordering uneconomically small quantities.” – MIT Center for Transportation and LogisticsA Sickly Supply Chain

To stop this kind of inefficiency and needless waste, we here at Process Street have created these 8 free logistics management templates.

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