Modern Purchasing Opportunities and Challenges

Whether it’s energy or any other industry, executives who have made their way up the ranks over the past three decades know from personal experience just how far purchase management has come. It wasn’t that long ago when procurement was often more of an afterthought for companies than anything that would be viewed as a core competency. However, as global markets have changed and technology has increased competition, more businesses of all sizes are taking a more in-depth look at their purchasing processes. As many companies have learned, procurement isn’t something that should be viewed as just a required, routine activity. Instead, when approached the right way, procurement can act as a type of lever that can move a business in a meaningful direction. This realization means that it’s quite common for businesses to transition purchasing from a back office function to a core competency that’s front and center. What Purchase Managers Need to Accomplish There are many ways that individuals or organizations can look at purchasing. Of those, one of the most useful ways to think of a purchase manager is as a role that requires someone to function as an enabler, provider of information and facilitator. While it’s the business that ultimately makes decisions, purchase managers can ensure that all relevant facts have been presented prior to a decision being made. That role is why some of the most successful businesses are those that realize the benefits of communicating the value of efficient procurement through every level of the organization. In talking about procurement, it’s important to acknowledge the key role that a supply chain plays. Whether they’re currently aware of it or not, organizations require great suppliers in order to consistently deliver on their customer value proposition. Although complex supply chains may be a necessity, it’s important for companies to understand the types of risk they can pose and take action to help minimize risk. The Best Place for Small and Mid Market Businesses to Start A key advantage of small and mid market businesses is their ability to move faster than larger companies with more organizational overhead. Since more nimble businesses can quickly execute, it’s common for a business to fully recognize the importance of purchasing and then wonder what their next step should be. For any business in this position, the best option is to start utilizing the right purchasing software. Specifically, Bellwether Purchasing Software is both very powerful and surprisingly easy to use. Enforcing approvals, managing budget thresholds, streamlining vendor negotiations, and creating customized work flows are just a few of the features it offers. If you want to see our purchasing software in action, you can easily do so by contacting us today. We offer a 30 Day Free Trial to show you how effective Bellwether Purchasing Software is for improving your purchasing process.