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Organizations can benefit from a procurement function that has these five main features:
1. A detailed spend map that cuts across an entire organization and is updated regularly so all purchases can be analyzed continuously for need, value, pricing and quality.
2. The ability to drive savings across the organization by continuously ensuring the right products come from the right vendors at the right price to meet organizational goals.
3. The ability to engage with the entire organization to evaluate how reduced costs can be enjoyed across the value chain.
4. An organization-wide focus on ensuring value through contract management and supplier relationship management.
5. The ability to deliver acquisitions through an operating model that connects technical and commercial capabilities to drive organizational goals and optimum client outcomes.
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E-procurement is a business process in which business transactions are done through electronic means. E-procurement can be also called electronic procurement or supplier exchange.
The e-procurement value chain consists of:
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The political scene in the UK at the moment is fractious, the economic scene is too scary to think about. In a recent political panel discussion there was debate about the failure of the chancellors mini-budget to calm the nerves of the markets. A pro-government voice said that mistakes are to be embraced and learned from, whilst an opposition voice said that when an aeroplane is landing in high winds a mistake can be fatal. Putting all the politics and "mistakes" that kill people, aside no one wants them to happen, but mistakes happen. What mistakes have you made in your procurement life and what did you learn from them?
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