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Food Safety - The Block Chain Advantage

Sep 17, 2020
7 min

Food Safety - The Block Chain Advantage

Food safety should normally be everybody’s concern as it is difficult to find anyone who has not encountered an unpleasant moment of foodborne illness at least once in the past year. If we analyse the term food safety, it describes all practices that are used to keep our food safe. Food safety usually relies on the joint efforts of all stakeholders involved in the food supply. Throughout the food chain, from farmers and producers to retailers, caterers, legislation and contro

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The Digital Supply Chain Transformation : Ask or Mandate

Aug 29, 2020
4 min

The Digital Supply Chain Transformation : Ask or Mandate

Digitisation is undergoing changes owing to e-commerce and consumer habits such that companies are regularly revisiting their IT plans more often. There is still a cloud over where to get started when it comes to digitisation. Though there are no certain ways of figuring out the right framework for going digital, there are certain methodologies that will help figure out digital solutions sooner. Insights can be collected from sensors, distributed data and connected assets to

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Factors impacting the future of Supply Chain and Logistics

Aug 29, 2020
3 min

Factors impacting the future of Supply Chain and Logistics

The evolving supply chain processes are being enhanced by technology-driven automation. While reducing the operating costs, the aim of such smart technology-driven solutions is to increase efficiency and drive unprecedented results. Owing to the globalisation and the growing difficulties in delivering large volumes of goods and services, the supply chain process also saw a rapid transformation. Businesses that managed to have an efficient supply chain system in terms of quali

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Procurement landscape: where change is the only constant

Aug 28, 2020
3 min

Procurement landscape: where change is the only constant

For many, procurement may seem to be a routine activity in a business, however, it could be a strategic activity that can save tons of money for an organisation if done rightly. Procurement involves arranging supplies at the lowest-possible cost. It also involves monitoring the performance of the supplier, negotiation of agreements favourable to the organisation and maintaining a strong network of suppliers. Requiring a wide range of information, procurement process involves

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Transforming the Procurement Function Digitally

Aug 25, 2020
3 min

Transforming the Procurement Function Digitally

Much like innovation in the early history of the nations of the world was about a forward-looking mindset rather than advanced tools, organisations need to channelize innovations with the same degree of foresightedness. The technology that we see in front of our eyes has been the backbone of growth and advancements that are key factors for an organisation’s existence. Technology has enabled workplace productivity in more ways than one. We have come to a stage where we believe

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Digital Transformation: The Way Forward

Aug 17, 2020
4 min

Digital Transformation: The Way Forward

Digital transformation is not a short-term gimmick, and this has to be necessarily factored-in by organizations that have either started or are going to start their journey. It is a set of processes that enhances business prospects and ensures the sustainability of business. Though technological disruption is not something new, it has been rather varied in terms of speed of adoption. While many are actually finding new ways of doing businesses using disruptive technologies, t

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Why businesses are now more open to procurement outsourcing?

Aug 17, 2020
3 min

Why businesses are now more open to procurement outsourcing?

Research studies are indicating towards an unprecedented level of interest in the field of procurement outsourcing and there has been a growth projection of 15-50 per cent over the next three years considering that performance levels remain as per the expectations of the stakeholders. The most direct connect comes from the multi-fold increase in the number of inquiries for procurement outsourcing received by solution providers. Though procurement outsourcing seems to make hea

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Setting the order: Intelligent procurement talent management to get exceptional people

Aug 16, 2020
3 min

Setting the order: Intelligent procurement talent management to get exceptional people

In order to achieve enhanced capabilities and improved efficiency, companies spend millions of dollars into transformation programs, software and third-party services. These goals include globally adaptable supply chains, regulatory compliance, mergers and acquisitions outcomes and stewardship of products and brands. Based on factors like first wave sourcing opportunities such as execution of strategic sourcing processes, better bidding and compliance tracking as well as spen

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The value of Predictive Analytics in Procurement

Aug 16, 2020
2 min

The value of Predictive Analytics in Procurement

Organisations that have been through cycles of supply chain changes, spend analytics, consolidation and segmentation in procurement count on predictive analytics to forecast revenue, identify opportunities in the market, mitigate disruption and do much more. Such prediction stems from advanced statistical and modelling attributes and helps understand commercial and technical attributes. The real-time availability of data and data visibility, collection of third-party datasets

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Why procurement automation is a means to an end, not an end in itself

Aug 16, 2020
3 min

Why procurement automation is a means to an end, not an end in itself

The idea of the procurement function has considerably transformed when it comes to optimum deployment of automation, making the best use of human expertise that organisations heavily rely on. Procurement organisations with a far-sighted vision are aware of how standard features of commercial Enterprise Resource Planning (ERP) packages have become the mainstay. Artificial Intelligence (AI), Internet of Things (IoT) and Blockchain are making inroads to organisation’s core. By m

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Digital procurement and legacy systems: finding the right balance

Aug 7, 2020
3 min

Digital procurement and legacy systems: finding the right balance

Analysing the challenges and impact of digital procurement on legacy systems is an essential aspect of digital transformation for a business looking for growth. By implementing various types of procurement automation strategies in tandem with the current regulations and business climate, companies can become much more capable of responding to fluid changes in the business environment. With the application of disruptive technologies, transactional procurement is becoming more

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Now is the time to go for procurement automation

Aug 7, 2020
4 min

Now is the time to go for procurement automation

Many organisations are embracing digital technologies catalysing the pace of automation, especially in their routine procurement processes. This is also set to impact employment in procurement as it has in IT. But that should not deter technology practitioners from leapfrogging. Automation is the key to efficiency and transparency and helps create new opportunities to bring out creativity and add value in non-automated areas. With an eye on the long-term, procurement leaders

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Benefits of adopting AI in procurement

Aug 6, 2020
3 min

Benefits of adopting AI in procurement

With the advent of artificial intelligence (AI) and machine learning, businesses have undergone a sea change in terms of planning, strategizing and decision-making as well. It is more than important to understand the way in which such developments impact the scope of businesses and optimise the returns by adopting this revolutionising stream. Organisations centred on procurement are focussing on AI and analytics. In fact, businesses are fast incorporating such changes given t

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5 Ways to Manage Digital Transformation

Aug 6, 2020
2 min

5 Ways to Manage Digital Transformation

A survey conducted on a community of procurement professionals recently deduced that only 5% believed digital transformation is not knocking on the doorsteps of their business. The rest 95% were solemn in belief that digital transformation would change the landscape in the next 5 years. Interestingly, only 66% of these participants were found strategizing to cope with the future, while the rest have faith that they are capable of braving the changes with their present capabil

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key factors that influence procurement transformation

Aug 6, 2020
2 min

key factors that influence procurement transformation

Organisations are increasingly turning towards transformation of their sourcing and procurement functions in order to optimise costs and bring in efficiencies in the process. However, there are several areas that derail transformation plans even if an organisation is making gradual improvements. Here are the top six factors that ensure successful transformation of procurement function. Foundational technologies: Timely availability of data is the key factor for procurement an

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LEADERSHIP IN TIMES OF CRISIS: HOW TO LEAD EFFICIENTLY

Jul 29, 2020
3 min

LEADERSHIP IN TIMES OF CRISIS: HOW TO LEAD EFFICIENTLY

In today’s time of COVID – 19 Pandemic, you realise that in your journey as a leader you may be in a situation where it is extremely difficult to take a decision as it may turn out to be incorrect. Often when faced with a crisis, leaders invariably find themselves in the midst of a stressful and tense atmosphere and that is when the real test of leadership occurs and not when everything is smooth sailing. There are sometimes enormous mental, physical and psychological pressur

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Lessons from Covid-19: Factors impacting the future of supply chain and logistics

Jul 29, 2020
3 min

Lessons from Covid-19: Factors impacting the future of supply chain and logistics

The evolving supply chain processes are being enhanced by technology-driven automation. While reducing the operating costs, the aim of such smart technology-driven solutions is to increase efficiency and drive unprecedented results. Owing to the growing difficulties in delivering large volumes of goods and services in the current situation of Covid-19 and the country under lockdown, the supply chain process is seeing a rapid transformation. Businesses that managed to have an

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