Efficiency in Purchasing Processes:
Imagine, each of your purchasing steps is not just an expense item, but also makes a positive contribution to your company’s income statement. The philosophy of “earn while you buy” has become more than just a slogan in the business world, it has become the golden key to increasing profitability and competitiveness. In this blog post, we will detail how buying the right product at the right time, in the right quantity and at the right price opens a door to profit for businesses. Are you ready that there is earning potential hidden in every purchase? Then read on to discover the secrets to winning when you buy.
Risk Management in the Global Supply Chain (Purchasing Strategies in Crisis Times)
Today, when international trade is accelerating with digital transformation, the supply chain forms the basis for every link of the global economic system. Tensions that may occur in each link may be reflected in the supply chain, even if they are on different issues. For example, restricting the distribution of raw materials due to escalating political tension between two countries may cause global trade through this energy to become more expensive and make products and services more difficult to access in the supply chain, from raw material imports to the end user.
Agenda-related risks and risks and uncertainties arising from problematic or uncontrolled functioning of the business’s operational processes or issues completely outside the business create the need for risk management in businesses. Businesses and supply chain leaders with strong risk management are one step ahead in overcoming problems and maintaining and increasing their overall performance. In businesses that can strategically maintain risk management, employee motivation and therefore internal reputation increases.
