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Procurement: Get basics right then automate

Procurement should be strategic and not just about buying at the lowest price, says Brian Shanahan, CEO and founder of Informita and TermsCheck.com. In this WEBchat we examine the impact of procurement on working capital management. Although there is increasing automation in of procurment processes, the basics never change. First get the basics right and then, and only then, automate. The WEBchat covers:

1. The trends in procurement

2. Payables impact

3. Inventory management impact.

Key timing points
0:14 Trends in procurement and working capita
2:20 Payables terms and policy impact
6:12 Inventory management impact
9:21 Closing remarks - procurement is not about lowest price; everone needs to work as a team within agreed strategy

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This item appears in the following sections:
Working Capital Management
Inventory Cycle in WCM
Procure-to-Pay Cycle in WCM

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