For supply chain leaders, strategic procurement software and sourcing optimization play a vital role in mitigating immediate risks and planning for future challenges. Success depends on finding the optimal balance to satisfy all stakeholders: the right equilibrium between supply and demand, inventory on hand and cash in the bank, strategic partnerships but firm supplier management.
There is no doubt that the recent COVID pandemic has tested manufacturers and contingency and business continuity plans to the fullest, with 60% of companies having reported supply chain disruptions. However, for those who rely on materials sourced from volatile markets, subject to shortages and price instability, managing change is the norm.
Akash Singh
SA Shipyards, Financial Manager
SYSPRO ERP gives you a real time 360-degree view of the resources and assets throughout your entire supply chain.
This allows for better decision-making and the ability to strike the right balance between rapidly responding to market disruptions and ensuring the long-term strategic growth of your business in a constantly changing world.
SYSPRO ERP’s built-in, integrated and digitalized procurement solutions make strategic sourcing and supplier management more resilient and responsive in order to:
SYSPRO ERP’s procurement and inventory management software allows you to accurately forecast demand, identify stock availability, establish supplier lead times, cost, material requirements, contingency stock requirements and warehouse capacity constraints. With advanced scheduling, Inventory Forecasting and Materials Requirements Planning (MRP) tools you can accurately determine purchasing requirements and hedge against the obsolesce of raw materials stock.
SYSPRO ERP’s procurement tools help to simplify and streamline the tender, requisitions, purchasing and receiving processes. By enforcing policy, automating the selection of approved suppliers, and workflow driven requisition approvals, you can decrease your purchasing risk, improve purchasing governance and ultimately achieve cost reductions.
Using SYSPRO’s Supply Chain Portal, you can extend self-servicing of RFQ’s to suppliers online – fostering collaboration, improving the flow and availability of information, minimizing document handling, streamlining the procurement process and the ultimate reliability of fulfillment and delivery.
SYSPRO offers a number of core capabilities to provide real-time actionable insight. By leveraging AI for predictive insights, workflow and alerts for instant notification and web accessibility for anytime, any-device access, you have the means to act quickly and proactively.
Procurement is increasingly being expected to become more influential in the overall business strategy – specifically in the areas of mitigating risk, creating a competitive advantage and driving growth.
Although a standalone program assists in managing purchasing with greater efficiency, it lacks the mission-critical quality of integration into the rest of the company’s and supplier’s systems. This is where the real advantage of an ERP solution with built-in procurement capability lies.
The key capabilities that SYSPRO ERP offers at each step of the procurement process help make strategic supplier management more resilient and responsive aids in fostering supplier collaboration.
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