Remove Assessments Remove RFP Remove Risk Management
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Mastering Procurement Management: Your Gateway to Success

Nanonets

This strategy involves analyzing the organization's spend, assessing supplier capabilities, and strategically selecting suppliers based on factors such as quality, reliability, cost-effectiveness, and innovation. Risk management is also a key focus of contract management.

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Decision Fundamentals: Capturing Subject Matter Expertise

FICO

For an example of how this works, let’s look at the work we did with Medscheme , South Africa’s largest health risk management services provider. Medscheme came to FICO for help in re-engineering their healthcare claims assessment system, which had thousands of rules, and hundreds of thousands of data reference records.

RFP
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Everything You Need to Know about Procurement for Businesses: A Practical Guide for CFOs and Finance Leaders

Nanonets

Process: The production manager at XYZ Corp notices a decline in production efficiency and identifies the need for a new manufacturing machine to meet increasing customer demand. Documentation: A Needs Assessment Report is prepared, detailing the type of machinery needed, the expected improvement in production efficiency, and the budget.

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What is e Sourcing?

Nanonets

  💡 According Gartner: “ Sourcing and procurement leadership must invest in supplier risk management, digitalization, future of work and post pandemic recovery. Many eSourcing solutions use AI algorithms for sourcing and assessing regulatory compliance by vendors. 

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Mastering the Art of Vendor Selection: A Friendly Guide

Nanonets

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. In  clinical research ,  vendor management  involves stringent  regulatory requirements , including ICH E6 Good Clinical Practice, ISO 14155, FDA 21 CFR Part 50, and Regulation (EU) No 536/2014.

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4 Steps to Automate your Procurement Process

Nanonets

Vendor Support and Training : Assess the level of support and training provided by the software vendor. Cons: Lacks inventory control, RFP, and bid processes. Coupa Procurement   Coupa is well-regarded for its robust procurement management capabilities, ideal for enterprises.

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Guides on Purchasing Procurement - Your Key to Smart Buying

Nanonets

It starts with defining needs and researching suppliers, followed by negotiating contracts, monitoring performance, and optimizing inventory management. Implementing smart procurement involves assessing current processes, developing a procurement strategy, and streamlining operations through technology.