Procurement has come a long way from the “materials men” of the industrial revolution.Continue Reading
Procurement software tends to fall into one of three categories.
There are enterprise resource planning (ERP) systems, which are complex systems designed to help companies manage all ends of the supply chain. Then there is accounting software that people use to keep track of POs, sacrificing a comprehensive procurement suite for all-in-one convenience. And finally, there’s purchase order-specific software.
Construction companies deal with a long list of suppliers, from subcontractors to wholesalers. Procurement may recognize the critical role of suppliers, yet there’s no strategy in place. Continue Reading
Purchase control is relevant. Purchasing is a delicate process in a company, simply because it has to do with the money you spend. Businesses tend to neglect their purchasing processes to focus on bigger issues, without realizing that purchase control is one of the legs a business stands on.
You need to acquire materials of the right quality, at the right quantity, at the right time and from the right suppliers for a well-negotiated price. Think of it as a skill that should be mastered.
No one is ever quite ready; everyone is always caught off guard. The one day you are a student, single and without a care in the world and the next you are married, you have a family and you have become part of the corporate rat race. Family life, or to be more specific, parenthood chooses you. You realize that of all the balls you ever juggled, this is the one you should not drop. The same goes for your career, especially if you hold a executive position as a CFO in a construction company. Both carry a lot of responsibility and there needs to be a balance. Continue Reading