How to Streamline Your Purchasing Process and Improve Spend Management

By Lake Furney, VP of Marketing and Communications on June 7, 2016

It’s every buyer’s dream; a “streamlined purchasing process”.

But what does that mean… really?

Whether you buy for or manage a large purchasing organization with an e-procurement system or a small business that faxes or calls in every order, there are always ways to make your purchasing more efficient and improve your spend management results.

How can you do that?

Start by asking yourself, “What can I do that will make my buying faster and easier?”

Then, identify your biggest bottlenecks and frustrations, and write them down. It won’t take you long to see how eliminating just 20% of those obstacles will affect 80% of your revenue – and your bottom line profit.

Here are a few ways you can begin to eliminate your buying chaos while reviewing your current purchasing process:

If you’re a large retail buyer that uses an e-procurement system (such as SAP or Ariba), look for suppliers who offer punch out catalogs. They let you link directly to their products from within your own purchasing system in a more “Amazon-like” way.

This is a much more efficient way of shopping, rather than trying to sort through the thousands of line items in a typical spreadsheet or hosted catalog (aka CIF catalog).

Plus, the more suppliers that you “onboard” and enable to connect to your e-procurement system, the more time you save going to external sites and using less efficient ordering methods.

If you’re a small retail buyer, look for vendors who offer e-commerce solutions that reflect your pricing and specific product interests. This will save you time wading through an entire catalog and crunching numbers on a calculator figuring out any discounts they’ve offered you.

No matter if you have e-procurement buyers, non-eprocurement buyers, or both, having a flexible B2B eCommerce platform can help you optimize all of the above. If you’d like to see how CoreXpand deals with these situations, you can check it out here.

If you’re a supplier reading this, highlight to buyers how you can make your product offers and transactions more adaptable to their needs and the way they do business. If you’d like help serving your buyers in more convenient and flexible ways, check out how we can help you do that here.

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Posted in B2B eCommerce for Buyers, Buyers Corner, PunchOut Catalogs