LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the four biggest challenges facing the public procurement process.
In any organization, the procurement process plays a strategic role in improving efficiency, reducing costs, and making advancements. But when it comes to the public procurement process, several challenges are impacting their existing operations. The process is time consuming, inefficient and costly. This leads to poor communication channels, unstable supply, and quality issues.
At SpendEdge, we understand the challenges affecting the public procurement process. Therefore, we have highlighted the key challenges in the public procurement process and suggested a few measures to address them.
Challenges in the Public Procurement Process
Realizing the true benefits of analytics
Understanding the commercial and technical attributes of the supply chain ecosystem has become a major challenge for companies. Despite realizing the true potential of analytics in procurement, understanding advanced modeling and statistical capabilities, and identifying the ability of analytics to mitigate disruption is still an arduous task for companies.
Realizing the potential of analytics in procurement is crucial for companies to mitigate disruptions. Request free platform access to leverage our smart procurement solutions.
Adopting sustainable procurement practices
Public organizations need a unique point of difference in the public procurement process. They require the attention of consumers to boost sales. In such cases, using sustainability as the selling point to draw in consumers can work in favor of companies. To know about the procurement best practices and ways to ensure sustainability, get in touch with our analysts here!
Getting the most out of suppliers
Gaining value from suppliers is one of the most common challenges faced by the public procurement process. Finding good quality suppliers and qualifying them is a rigorous process. Companies need to create open lines of communication to manage suppliers effectively.
To know more about challenges facing the public procurement process, read the complete article here!
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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