Get to know the Procurement Platform - Xtends

Last updated: 12 Nov 2024  |  398 Views  | 


ทำความรู้จัก Procurement Platform ตัวช่วยของงานจัดซื้อ

Get to know the Procurement Platform

https://www.sutisoft.com/blog/how-does-online-procurement-software-make-requisitioning-easier/

               Nowadays, procurement process remains challenging for many organizations due to various factors that make it complex and high-risk. These factors include large and dispersed data, slow and cumbersome procedures, and challenges with tracking and verifying transparency.

              In the fast-changing digital era, technology tools like procurement platforms are being implemented to enhance the efficiency of procurement processes, support data management, increase transparency, and reduce errors. Procurement Platforms can be divided into several types, as follows

  • e-Procurement Platforms
              e-Procurement Platforms are electronic procurement systems that manage the entire process, from requesting quotes (RFQ/RFP) and negotiations to ordering and payment.
              Large organizations often face procurement challenges with vast amounts of data, including supplier information, order details, order history, and payment records. This data is usually stored in various formats and scattered across different systems or documents. Using e-procurement Platforms can resolve this issue by consolidating all information into a single system, making data management more convenient, fast, and efficient. Additionally, it enhances the speed and accuracy of data analysis.
  • Spend Management Software

https://www.sutisoft.com/spend-management-software/

              Spend Management Software is designed to help organizations manage and control spending in line with allocated budgets. Procurement processes within organizations often struggle with budget control due to a lack of clear spending information for each department, inaccurate cost estimates, and contracts that do not align with actual needs, leading to unnecessary expenses. Using Spend Management Software provides a comprehensive view of spending across all levels of the organization, enabling more effective control and planning of expenditures. It also helps reduce wasteful spending and enhances systematic budget management.

  • Supplier Management Systems
              Supplier Management Systems enable efficient and systematic supplier management. Nowadays, many organizations work with many suppliers, which can be complex, leading to challenges in verifying reliability and tracking each supplier's performance. Additionally, negotiating prices with different suppliers requires considerable time and resources. Implementing Supplier Management Systems allows companies to organize supplier information systematically, including performance tracking, contract management, and risk assessment. This makes it easier to select high-quality suppliers for the organization and reduces the risks associated with collaboration.
  • Contract Management Software
              Contract Management Software is a system that helps manage contracts between an organization and suppliers, such as storing, editing, and reviewing contracts to ensure that all parties comply with the terms and conditions.
              Of course, when contracting with suppliers, management errors can occur, such as overlooking important contract terms or failing to comply with specified payment terms. This can lead to legal issues or additional costs. Contract Management Software helps systematize contract management by providing alerts when actions need to be taken, such as contract renewals or reviewing terms. This makes contract management more efficient and reduces the risk of breaching contract terms.
  • Procure-to-Pay (P2P) Systems
              Procure-to-Pay (P2P) Systems integrate the management of the entire process from purchasing (Procure) to payment (Pay). In traditional procurement systems, processes such as requesting quotes, approvals, ordering, and payments often take a long time due to several manual steps, such as sending emails for approvals or filling out numerous documents, resulting in time-consuming procurement. Implementing Procure-to-Pay (P2P) Systems automates these steps, streamlining the process.
  •  e-Auction Tools

https://www.goodfirms.co/auction-software/blog/best-free-open-source-auction-software

              e-Auction Tools are used to manage online auctions, allowing organizations to offer suppliers the opportunity to bid competitively to reduce costs. Supplier sourcing is one of the challenges in procurement due to the complexities organizations face, such as multiple suppliers offering different prices and varying product qualities. Additionally, price negotiations with suppliers require time and negotiation skills, and there are sometimes risks related to a need for more transparency during the bidding process. e-Auction Tools ensure transparent bidding, where all parties can view the bidding process in real time and have an equal opportunity to submit bids.

  • Supplier Risk Management Tools

https://www.everstream.ai/articles/strategic-reviews-for-supplier-risk-management/

              Supplier Risk Management Tools are systems that help manage supplier risks, with features for tracking history and monitoring potential risks. Procurement with suppliers often involves risks related to product quality, delayed deliveries, and financial instability, which can impact the organization. Supplier Risk Management Tools assess and manage these risks that may arise from suppliers, enabling organizations to evaluate and monitor supplier risks effectively in real-time.

  • Inventory and Stock Management Software
              Inventory and Stock Management Software is a system that helps track and manage inventory efficiently, ensuring that organizations have sufficient goods or raw materials for continuous production or operations.
              Another common issue in the procurement process is inventory management and stock management, which must align with demand or production processes, leading to delays in production and unnecessary cost increases. Inventory and Stock Management Software is crucial in efficiently managing inventory and stock. This system helps track, monitor, and plan purchases in an organized way, reducing the risk of shortages or excess inventory. It allows organizations to lower storage and warehouse management costs while ensuring smooth operations.
  • Analytics and Reporting Tools

https://stackby.com/blog/8-free-paid-google-analytics-reporting-tools-including-ga4/

              Analytics and Reporting Tools are tools for data analysis and generating detailed, systematic reports, enabling the use of these insights for accurate and clear decision-making in procurement.

              In the procurement process, using incomplete or outdated data can lead to decision-making errors, such as relying on inaccurate information, which hinders effective price negotiations or proper procurement planning. Therefore, using Analytics and Reporting Tools is crucial, as they enable efficient real-time data analysis. This allows users to make informed decisions, ensuring that procurement proceeds as planned.

  • Blockchain Technology for Procurement
              Blockchain Technology for Procurement enhances transparency and security in the procurement process, especially in tracking goods from origin to destination. For example, IBM Blockchain for Supply Chain and Provenance enables accurate recording and verification of every step of the procurement process.
              Lack of transparency in the supply chain often leads to delays, higher costs, and risks when working with unreliable suppliers. Blockchain Technology is a decentralized system that makes it challenging to alter data. When transaction data is recorded on the blockchain, it is encrypted. It can be audited anytime, ensuring that all parties in the procurement process can be confident that the information is accurate and trustworthy.

Procurement Purchase order Procurement process Procurement Platform งานจัดซื้อ e-Procurement Platforms Spend Management Software Supplier Management Systems Contract Management Software Procure-to-Pay (P2P) Systems e-Auction Tools Supplier Risk Management Tools Inventory and Stock Management Software Analytics and Reporting Tools Blockchain Technology for Procurement
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