Working in a digital world means adapting to the changing dynamics of business. When it comes to inventory management, there are many factors involved. Streamlining some of the processes means simplification and improved efficiency. And it only makes sense to get your inventory management in gear. Fewer problems with low stock levels, being unable to meet requirements and dealing with stockouts (situations when demand exceeds the amount of inventory you have on hand). Stockouts are not a great thing. They typically result in higher risk, lost sales, and very unhappy customers. Sometimes, the situation is out of your control, but often your organization can play a direct role in preventing these situations. Automating inventory management is the preeminent means of preventing costly interruptions, keeping enough inventory on hand, and ultimately improving the customer experience.
Procurement takes time. To put it another way, think of the procurement process as trying to buy home insurance or get homeowners insurance quotes. It’s a simple concept, but it is incredibly time-consuming and requires plenty of effort to get the ball rolling. To streamline employee purchases (especially items like office supplies), guided buying is a wonderful tool to reign in employee spending while improving the efficiency of making micro-level purchases. Most procurement contracts cover larger, industry-sized contracts. Removing smaller tasks from the equation, effectively reduced the procurement department’s workload while supplying better access to important supplies at the same time. Since guided buying is based on personas that are assigned by upper levels of the company, it’s easy to track and remain in compliance as employees use guided buying. Improving your buying process should be among the top goals for your organization.