Apart from cost savings methods, how efficiency can be improved in procurement process?

Question

Ed Smith · Answer

you have to have all information required by other department

Kurush Udwadia · Answer

Efficiency can be improved by:

1. Improving working capital by having better payment terms, consignment, just in time deliveries, shorten lead times etc.

2. Improved supplier performance in terms of quality, on time delivery

3. Value improvements through supplier partnerships and VA VE

4. Using e-RFQ/RFP tools to benchmark markets