The easiest way to define Procurement is the acquisition of goods and services. It is a vital part of Supply Chain Management which has evolved from Purchasing which is an administrative function to Procurement which is a more strategic approach to goods and service acquisition. Today, procurement goes beyond that. It also entails good planning and management of the stakeholders…
Tag: Digital Supply Chain
The Benefits of Supply Chain Collaboration
Complex supply chains require collaboration; which is when two or more factions or external organisations work together to perform supply chain operations. Supply Chain Collaboration can either be Vertical or Horizontal. Globalisation and fierce competition reveals the need to cease supply chain isolation. This is because isolation limits flexibility and cannot aid resource optimisation. Vertical & Horizontal Collaboration Ferrell et…
Is your Supply Chain Resilient?
Amid the Covid-19 pandemic, there have been disruptions in global supply chains and many professionals have searched for answers to vital questions. With the nature of supply chains, which involves the flow of goods or materials from production to the final consumer, it is fair to say that disruptions are inevitable during this pandemic. Only resilient supply chains bounce back from…
Inventory optimisation for SMEs in the digital age. Why? and How?
Dear Reader, you don’t need to brace yourself. This is going to be short. So put on your supply chain hat and let’s go! According to EazyStock, Inventory optimisation is the process of lowering capital investment in inventory while reaching target service-level objectives over a large assortment of stock-keeping units while ensuring demand and supply volatility is under control. You might…