Is your Procurement Department living in the 21st century? Gone are the days of procurement existing simply as a purchasing function – although its roots are in purchasing, modern procurement makes organizations smarter and more profitable through sourcing diversification, whilst improving both input costs and cash flow.
Year: 2015
Information on your Doorstep
Reading Time: 2 minutes
I’ve reflected recently on the classic depiction of someone waking early, walking out their front door down the driveway and picking up the newspaper delivered in the early hours. This notion still holds a certain appeal, but nowadays everyone operates on the premise of information on demand. You just need to appreciate the sheer number of travelers, whether it is for business or leisure, at an airport pouring over their laptops and mobile devices, translating information and tirelessly capturing information onto spreadsheets or similar tools, producing reports, and extracting information.
Tips on Optimizing Procurement
Reading Time: 2 minutes
It’s a long time since the sales team got all the glamour and recognition for being the business heroes, now it’s just as likely that the buyers are out celebrating with the champagne. The impact of procurement to the profitability and sustainability of a business is dramatic. Consider a distribution business with a revenue turnover of $100m with a cost of sales of $70m and operating costs of $20m, net profit is $10m. A 1% decrease on the cost of sales translates to a whopping 7% increase in net margin.
A Common ERP Misconception: Installation vs. Implementation
Reading Time: 3 minutes
When purchasing a new ERP system, it is not only important to consider the software’s functionality and if it is a proper fit for your business, but to also take a close look at what the vendor’s implementation processes entail. Often, we find potential customers asking us the inevitable question, “Why can’t you implement the software in under a week like your competitor offered? They make it sound so simple and cheap.” To a buyer, a quick, low-cost implementation sounds like a winning plan but can result in astronomical errors, ERP project failures, and future major financial repercussions.
New SYSPRO 7 enhancements
Reading Time: 2 minutes
As we hurtle towards the end of March I find myself reflecting back on the first quarter of the year – wondering where it’s gone and what the rest of the year has in store. I’m sure this year has gone quicker than usual and I am sure there are many of you out there feeling the same.
Why you Should Choose a Two Tier ERP Solution
Reading Time: 3 minutes
Dean knew that there had to be a better way.
He’d been in manufacturing long enough to know that the millions of dollars and army of consultants that was being readied to integrate his operation with the parent company was a huge waste.
The worst part was that the standardized processes that his division was going to have to adopt were poorly suited to the facility.
Spending millions to reduce efficiency was a decision that he had to fight.
So he started doing his research…
Why Should my Business use Inventory Optimization?
Reading Time: 3 minutes
So you reckon I should consider inventory optimization? Convince me.
According to research by the Aberdeen Group, one of the top pressures is unpredictable demand , another pressure is reducing inventory carrying costs . How are business leaders addressing these pressures? By building capacity for better demand and inventory planning and forecasting.
4 Steps to using Business Strategy to drive your Software Selection Process
Reading Time: 2 minutes
When embarking on the journey of selecting and buying any software for your organization, whether it is ERP, CRM, HR, BI or any other software, you need to question the business strategy behind this purchase?
Be Part of the Circular Economy
Reading Time: 2 minutes
Death. It’s guaranteed, the one thing we can’t avoid. Its imminent arrival sparks many emotions, debates, rites and rituals. People spend thousands each year on funeral policies and think up elaborate last wills and testaments to plan for what will happen to them once the grim reaper has paid them a visit.
With so much time, energy and expense invested in what happens after we die, I was wondering if business owners think about what happens to their products that “die”. Do their products need to die at all? We are all familiar with recycling, but this often entails individuals or other companies transforming your product into something else. Why? It is YOUR product after all. Your hard work, your money-maker.
