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  Procurement, a cornerstone of a supply chain, involves a set of practices such as finding a company’s requirements, acquiring goods and services at the best available price, and paying to the vendors for completing the business needs. This strategic process needs to be optimized with changing market demands and aligned with the company’s business strategy.  Index What is Procurement Analytics? What is procurement data? What is the importance of analytics for procurement? What are the stages of Procurement Analytics? How can partner portal help in procurement analytics? One way to optimize the process is analyzing various data at each stage of procurement that helps the organization to gain insights and make well-informed and data-driven business decisions. Therefore, procurement analytics holds major potential to streamline the process.  What is Procurement Analytics? Procurement analytics is the process of collecting, analyzing, and deriving insights from procurement data to influen

  Vendor Risk Management Program and How to Automate it Vendor-relationship is one of the most critical factors that define success of a business. Most organizations depend on their rich vendors’ networks to complete their business’ requirements and enhance their overall operations. This partnership significantly impacts the success and sustainability of an organization, but it comes along with high potential for risk which requires close attention.   Index   What is Vendor Risk Management? What are the kinds of risks vendors could bring to an organization? What are the components of a vendor risk management program? Why automate the vendor risk management program with Partner Portal?   What are the benefits of automating the vendor risk management program?  What is Vendor Risk Management? Vendor risk management (VRM)  is a security initiative that ensures that the engaged vendors do not cause unacceptable business disruption or a negative impact on business performance. As organizatio

On-Time In-Full, or OTIF, is an important supply chain management performance indicator. This is a measure that plays an integral role in the lives of firms interested to satisfy their customers and improve efficiency. This blog will take a closer look at OTIF, its importance in supply chain management, the challenges in achieving OTIF and discuss the practical approaches to achieve it.  Index   What is OTIF? OTIF in Supply Chain The benefits of implementing OTIF Challenges in Achieving OTIF How to Achieve OTIF? Conclusion What is OTIF? OTIF also represents On-Time In-Full and acts as a barometer of how well suppliers meet consumer demand. In other words, it evaluates the fidelity of vendors in timely delivery or OTD ( On Time Delivery)  as well as with each ordered item reconciled or IFD ( In Full Delivery ). OTIF does not only consider the timeliness or completeness of deliveries; it blends them, ensuring exactly when products are needed, and nothing is left out from an order.  OTIF

In the past, industries had adopted new supply chain strategies which included adoption of integrated supply chain networks, AI and digital technologies, reskilling of workforce, etc, for profitable results. The new year would introduce new challenges and more emerging trends where the supply chain will evolve for a competitive and resilient Supply Chain.   Index What is a supply chain?   Trends in Supply chain   More visibility into supply chains needed  The critical role of data  Generative AI in operations ESG and Scope 3 emissions  Electric vehicles, transport and logistics   How does Partner Portal help organizations stay up with the trends?   Conclusion  What is a Supply chain? A supply chain is a complete process of producing and delivering a finished product or service to its end customer. For example, for a manufacturer who produces Candies or any FMCG product, the process would begin with identifying the requirements of raw material and its source i.e. a vendors or suppliers.

In today’s evolving and competitive business environment procurement has expanded beyond methods and protocols. Incorporating technologies is now crucial for enhancing efficiency and streamlining operations. One of the innovations driving this transformation is Partner Portal. A cloud-based vendor management system designed to automate the vendor management cycle comprehensively. From vendor onboarding to tasks like EDI-based shipment tracking and intricate billing and accounting processes Partner Portal represents the epitome of procurement evolution. To fully harness the capabilities of  procurement automation tools  like Partner Portal procurement professionals need to understand the fundamental pillars of procurement; RFI (Request for Information), RFP (Request for Proposal), and RFQ (Request for Quotation). By building this knowledge businesses can effectively fully leverage the power of a  top procurement software  such as  Partner Portal .  Index What is RFI(Request for Informat