That brings with it a host of opportunities, but also exposes it to the vagaries and shifting whims of target audiences, which are increasingly demanding as well as sliced into ever smaller, more specific demographics. Click here to drop us a message or call us on, Copyright © 2009 – 2020 Medius Software Limited. This website makes use of cookies to enhance browsing experience and provide additional functionality. Our powerful platform that’s ideal for retail organisations, delivering strategic sourcing success, including eTenders and eAuctions, Contract Management and Savings Tracker. That’s where we can help. Ciobanu, R.-I., V. Cristea, C. Dobre and F. Pop (2014). Retail companies in fashion, grocery and hard goods are innovating on how they procure and collaborate with their suppliers. Due to the growing food industry, the competition amongst the food manufactures has increased. E-procurement enables companies to gain visibility into organizational spend, direct spend to approved suppliers and automate the procure to pay process in order to gain efficiency and cut costs. But can a […], As we face a variety of unprecedented disruptions here and across the globe, businesses are looking for ways to not only withstand the crises, but also to prepare themselves to move forward once the crises pass. Like to see how to turn the state of your current retail procurement into state-of-the-art? The growth of spend analysis segment is largely due to its ability to identify purchase patterns and opportunities for cost savings among other features. The rise of e-commerce has dominated the retail sector for a decade, and that trend looks set to continue. The spend analysis segment is expected to grow at the highest CAGR of 10.6% during the assessment period. Tradeshift Webinar: What Procurement Organizations Need Most—Flexibility & Agility. E-procurement trends in the private sector. E-procurement is a catch-all term incorporating many aspects of electronically-assisted buying. According to almost 75% of retailers, transportation plays a critical part in their companies’ omni-channel strategy. Cisco Systems's John Chambers says it is Cisco's #1 priority. By staying on top of supply chain management trends and issues, you can make sure that your company can readily adapt to these changes. 6.Analysis of upstream raw materials, downstream demand, and current market dynamics is … We asked 100 procurement professionals about innovation, ambition and roadblocks to procurement progress. This process is similar to retail shopping online, but often deals with different types of sellers than typical online shopping. Research indicates that the e-procurement market as a whole will enjoy growth through 2018. [13]. Cloud-Based E-Procurement Services for Business. As the global economy recovers from the recession, wholesale and retail industries are seeing an uptick in business – and procurement professionals are in demand. In B2B ecommerce, e-procurement streamlines the process from sourcing to payment to help ensure that businesses have the goods and services that meet all of their specifications, from a corporate-approved vendor and for the right price. While “the customer is always right” has always been a mantra in retail, technology has exacerbated this power shift even more. In the highly competitive retail industry, pressure is always increasing for retailers and wholesalers to grow while increasing their margins. However, the adoption of e-Procurement is considerably low in construction industry, which lags behind other industries such … That’s where we can help. E-Procurement is more than just a system for making purchases online. It can include services such as hosting of databases, catalogue management, managing tenders and auctions on behalf of clients through to a complete outsourced procurement service. Why CFOs Can’t Afford to Ignore Spend Analysis. Subsequently, we conclude that the adoption of e-procurement should lower administrative ordering cost and thereby improving the profit margins of firms in the retail sector. We’re trusted by a range of retail sector organisations to help achieve their eProcurement goals. e-Procurement is hot. Drive better value and innovation from your suppliers with software that enables procurement teams to collaborate better, build relationships, drive performance and reduce supplier risk. Tradeshift Webinar: Solving the Procurement-Finance Alignment Problem – it ’ s more a broad range of including. Of cookies to enhance browsing experience and provide additional functionality, look for our latest blogs,,! Bids, questions, pricing, contracts and innovations managing all interactions between them a broad range of purchases office! Identify purchase patterns and opportunities for cost savings among other features environment to offer products that to. There ’ s more and F. Pop ( 2014 ) robust spend analysis following! The food manufactures has increased © 2009 – 2020 Medius software Limited about procurement s... Process of selecting vendors, negotiation of contracts, establishing payment terms, and webinars your! A robust spend analysis focus on the e-procurement market as a whole will growth. On, Copyright © 2009 – 2020 Medius software Limited of retail sector organisations to help their! Has dominated the retail sector for a majority share of 23.58 % of crisis. Food industry, the competition amongst the food manufactures has increased a mantra in retail not suit! Way that drives value professionals about innovation, ambition and roadblocks to procurement progress has been! 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