The End-to-End Procurement Process in 2020
The procurement process varies significantly depending on the category and also the desired outcome for the business and various departmental objectives however, a brief overview includes; Product Need, Product Request, Possible Review of the Request, Budget Approval, Quotation Requests, Quotation Reviews, Negotiation, Contract Reviews, Receipt of Goods, Invoice and Delivery Note Matching, Invoice Approval, Payment, Record Keeping.
What Is an End-to-End Indirect Procurement Process?
An end-to-end indirect procurement process takes a product or service (or both) from its beginning to its end and delivers a complete solution. It essentially refers to suppliers and supply chain partners who can take a project from beginning to end and supply everything needed, along the way, to create the ideal solution.
Why do you Need an End-to-End Procurement Process in 2020?
Some organisations have a very splintered approach to indirect procurement. There may be disparity between departments and personnel that aren’t appreciative of the needs of other departments/ objectives. It helps to map out each category with stakeholders to identify gaps in both process and cohesion between departments and their individual needs.
By instigating and following an end-to-end procurement process, you’ll instantly gain better visibility, risks will be mitigated and integration and implementation is often more successful. Cost reduction is also easier to achieve and monitor too and although procurement processes vary greatly depending on the individual company and category, there are solutions out there to best suit your needs.
Benefits to Outsourcing the End-to-End Indirect Procurement Process in 2020
Streamlined procurement outsourcing offers better control over every stage of the indirect procurement process/ lifecycle, as well as;
Procuright’s End-to-End Procurement Process
It would of course be impossible to state our “Procurement Process” services that we’re able to offer clients. This is because we’re very flexible in our approach based on the client, the overall business needs, plus the needs of individual departments and stakeholders. And without this flexible approach it wouldn’t be much of a procurement process. However, for most clients it includes;
Stating With A Blank Piece of Paper
Each organisation has its own traditions, individualities and ways of doing things. Truly getting to grips with an organisation’s spending habits requires engagement with a range of stakeholders from multiple departments. Our process takes all of this into account. If you need help with a single process or if you need a complete overhaul of your current purchasing approach, every engagement is tailor-made to meet your exact requirements.
Supplier & Procurement Audit
We’ll collect and collate what is likely to be a vast amount of information. We’ll make this as painless as possible because we know strategy, we know industries and business, we know business functions and technology and we know suppliers. By working alongside Procuright, you’ll have access to thousands of experienced and skilled resources in supply chain strategy, innovation, processes and technology capabilities.
Proposal & Strategy Implementation
You'll have your own objectives and Procuright work towards these. As an example, many clients want us to focus on the key principles regarding cost reduction (the majority benefiting from savings of over 25% - category dependent), process efficiencies and enhancements, business resilience and risk management. We'll also benchmark and evaluate suppliers to ensure implementation is with the most appropriate, based on capability, category, long-term value and innovation.
A real End-to-End Procurement Process (across indirect spend as well as direct) is vitally important for achieving goals. It’s way more than just a buzz-phrase or something that is simply given lip-service to and is far too important not to put higher up the list.
It’s not difficult to see how a single, end-to-end procurement solution would strengthen business operations. cost reduction would be achieved and process efficiencies would clearly add to the overall business value. So it’s not the vision that is the challenge. The difficulty has always been making it happen. Contact Procuright today to start making it happen.
"By instigating and following an end-to-end procurement process, you’ll instantly gain better visibility, risks will be mitigated and integration and implementation is often more successful. Cost reduction is also easier to achieve and monitor too and although procurement processes vary greatly depending on the individual company and category, there are solutions out there to best suit your needs......................"