How to save money on your purchasing process?Comments Off on How to save money on your purchasing process?
The purchasing process is a process that can be found in every company. The presence of the process is self-evident for companies that sell products, but also companies that sell services have to deal with purchasing costs. Think of purchasing costs for office supplies or consumer goods for work. Because this process actually takes place in every company, it is relevant for every company to save on the purchasing process. The money you save here in this process can be used in two ways. On the one hand, you can increase your profit margins by keeping your selling price the same. On the other hand, you can lower your selling price in order to gain a larger market share. Because you save money on the purchasing process, you can sell the products cheaper than before without sacrificing profit margin. In this blog we will therefore give you some tips that can help you save money in your purchasing process.
You can only improve your purchasing process by being actively involved in it. You can do this yourself, but you can also have a system do it for you. You or a special system can analyze the process and discover various bottlenecks in the process. A system is usually better at this, of course, but the purchase of such a system is a significant investment. However, when you notice how much money you can save with a source to pay system, the initial investment is almost in vain. We recommend that small organizations initially analyze this process themselves, but, as soon as the organization grows, quickly switch to a source to pay system!
The more processes you can automate in your organization, the less you will have to worry about them! This also applies to the purchasing process. You can automate various things in the field of the purchasing process. This includes comparing which party is cheapest at that moment or determining a fixed purchasing moment per product. This of course applies to both your direct procurement and your indirect procurement costs!