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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. Requirement: To address this issue and meet a 20% increase in customer demand, it is imperative to procure a new manufacturing machine.

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Mastering the Art of Vendor Selection: A Friendly Guide

Nanonets

This can be done through various means, such as requesting recommendations from industry peers, attending trade shows, or conducting online research. By considering a range of criteria, businesses can make more informed decisions when selecting vendors. Choosing the right suppliers is a key component of vendor management.