The expectation regarding the procurement is changing very rapidly in modern age dynamic era. Every organization is putting in constant effort and has a vision in terms of what the end-to-end procurement may look like and how to achieve the same irrespective of direct and indirect material.
Before we start off, let’s first understand what exactly we mean by end-to-end procurement solutions. Well, according to the business definitions, end-to-end is a term that refers to
the entire cycle of the process that includes every step right from the beginning to the end. It basically emphasizes upon removing the most of the middle steps and layers in order to optimize the performance and improve the overall efficiency.
In the scenario of procurement, end-to-end process is the practice that includes and analyse every point of a company’s supply chain management that means it will include everything right from sourcing & ordering of the raw material till the goods reach to the final consumer.
We, at Procure Avenue believe that end-to-end procurement solutions are organized around 2 major highly integrated and complementary processes which are P2P (Procure to Pay) and Source to Contract (S2C). P2P provides the entire framework that will guide the employees on how they can fulfill the needs and wants of the established suppliers. This will be helpful for the organizations to add value in the entire procurement process. In the S2C process, entire process of contract management, sourcing, vendor management etc are covered. However, in the P2P process also ensures the instant purchase authorization that lead to automated invoice generation that adds even more value to the process. Along with the same the data analysis and spend history can be easily derived by these interrelated processes.
This entire process is definitely including certain critical steps. But, at the same time it is important to include all the steps to maintain the proficiency. So, why this process is so important? Or let’s say what are the various significant advantages that a company can achieve from this entire exercise?
Well, to answer these questions we have made a precise list that will let you know few advantages for such solutions both in case of direct and indirect materials.
The companies can capitalize the opportunities for the close liaison with key customers and key vendors
New demands can be managed instantly. For example, the rising preference of the organic food in the market.
Ethical adherence of the rules and regulations
Maintaining product quality and process at every level of SCM
To conclude, using such end-to-end procurement solutions will provide the companies detailed and complete look in each and every aspect that is happening in the supply chain.
At the end, we suggest that when you opt for such solutions it is always advisable to carry out your research properly in the market and then chose the right option that fits your needs and requirements for the better result.