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

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Question added by Saad Hashmi , Associate Procurement Manager , Delmon Products Saudi Limited - IFFCO
Date Posted: 2016/02/04
Ed Smith
by Ed Smith , Purchasing Manager

you have to have all information required by other department

Kurush Udwadia
by Kurush Udwadia , Director of Sourcing and Procurement , ESAB Welding and Cutting Systems Inc

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

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