10/10/2023 0 Comments Burp professional cost![]() ![]() Read " No-Code Platforms for Supply Chain"ġ5) Train your staff and make savings a team effort- training can be expensive, but trained staff do save cost vs non-trained staff. Because when it happens, it costs money □ġ3) Collect and centralize data- do you trust your ERP to do that!?ġ4) Automate the procurement process- many SaaS or no-code software are available. See " Procurement KPIs Dashboard" and " Top 16 Procurement KPIs" □ġ1) Establish clear procurement policies- and they have to be dynamicġ2) Improve risk management- $hit happen, have a plan for it. Have a KPI to monitor this.Ĥ) Review purchasing needs- do you need to buy everything on blanket POs?ĥ) Prevent maverick spending- Adopt a purchase approval system so purchases can be vetted before being made.Ħ) Lead total product purchase lead time- it will reduce inventory carrying cost and show a direct impact to the bottom line.ħ) Evaluate the product life cycle- don't buy inventory for end-of-life products.Ĩ) Regularly review suppliers- at least with suppliers who are top 80% of your spend.ĩ) Provide self-service portals for vendors - it can help streamline procurement processes by allowing vendors to enter supplier information, submit documents, display status, and communicate with procurement teams.ġ0) Utilize procurement KPIs - SCMDOJO has an excellent blog and KPI Dashboard. You can start implementing them today and watch your business thrive.□□ġ) Request supplier discounts- only a few procurement teams do it often!Ģ) Review contracts to avoid spending leakage- do you have a cadence to review your contracts?ģ) Consolidate spending- this will give you leverage. These 17 cost-saving strategies will help you do just that. Want to save money and increase profits for your company? □□□
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