Click here to get this post in PDF
One of the most challenging balances a C-level executive must strike is the balance between micro and macro managing. On the one hand, micromanaging can be detrimental to a team’s morale if they understand this management style to indicate a lack of trust. In contrast, macro-management can lead to some of the small details slipping through the cracks and causing a big cleanup. In the realm of operations, where incidents in the supply chain can cause major consequences, having an e-procurement platform that allows for upper management to monitor yet stay out of the way is vital to maintaining that crucial balance.
Well-designed e-procurement software does more than just allow managers to track and monitor supply chain processes; it can streamline many of the routine steps in procurement and expedite some of the longer procedures. Businesses looking to improve their overall supply chain workflow should consider investing in an e-procurement program. To help in the consideration process, here are a few things you can expect when you start using one.
Record Keeping
Operations staff know that the many steps and paperwork involved in the supply chain need to be properly organized for speedy recall and reference. With a fully integrated e-procurement system, staff across all levels can easily access information such as invoices, shipping information, and client information in a user-friendly way. This is a great way for C-level executives to efficiently monitor what is happening on their own time rather than chasing down junior staff to provide answers.
Efficient record-keeping is also valuable for purchasing, as purchasing officers can easily reference previous orders and streamline some of the repetitive processes. Rather than sift through papers or excel sheets, having information about previous orders accessible will cut down on time and eliminate the chance for errors.
Finally, C-level management can use this efficient record-keeping as reference markers for demand forecasting or for financial planning. Using the information in the system, rather than getting it second hand, they can analyze the data available and make accurate forecasts for next procurement cycle or fiscal year.
Increase Procedural Efficiency
We’ve explained the importance of record-keeping to the efficiency of an operations department; however, it is the generation of these records that is often a time-consuming process and one that gets in the way of record keeping. With a professional e-procurement platform, creating and issuing these documents is simple and by designing re-usable templates for each customer, you can ensure speed and accuracy.
When considering the totality of the supply chain process, these software systems will significantly cut back on wasted time. For sourcing products, you will be able to keep record of different prices and product offerings from specific clients in an easily searchable and navigable directory. Once you decide on the supplier, generating purchase requests and orders with proper tracking systems is automated. Finally, integrated payment systems give real-time updates to your accounting department and to your suppliers, eliminating back and forth communication and updates.
The benefits of investing in an e-procurement system for your operations department are vast. Top management can benefit from knowing their systems are fluid and without error and are able to monitor everything each step of the way. Finding that balance could not be easier.
You may also like: 8 Questions to Ask Before you Buy an Inventory Management Software
Image source: stock.adobe.com
