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How to ensure on time Project management in Procurement

What is time management?

Time management allows purchasing professionals to organize and plan how they will allocate their time between specific activities.

Organizations that practice good time management can work smarter rather than harder, allowing employees to get more done in less time, even when time constraints are imposed on them.

Time and Purchasing Management

Time management and procurement go hand in hand because the ultimate goal of public sector organizations is to improve the efficiency and effectiveness of their strategy.

In the past, the traditional way of buying and bidding on supplies was done on paper, which was time-consuming. With the advancement of technology, the public sector has moved to electronic media so that documents can be stored and printed. Nowadays, the entire process can be done through the cloud, and there are many tools that buyers and suppliers can use to improve the efficiency of their purchases. This means purchasing professionals can manage and execute operations anywhere and anytime, which is great for colleagues who need to work flexibly or from home.

In addition, time is saved as electronic procurement strengthens the link between buyers and suppliers, as questions and answers given on an order can be submitted quickly, 24 hours a day. This speeds up the buying process and makes the market accessible to less experienced suppliers and from a wider geographic area, thus opening up the market and giving buyers more choices.

Key Steps to Successful Procurement Management

Specifications and layout. 

First of all, companies must draw up a comprehensive procurement plan and indicate the services and goods required locally and internationally. A detailed list should be made to assist in budgeting. Keeping organized from the start is key to making the next steps as smooth as possible.

Control and Delivery

Once a supplier is contracted, your purchasing department must properly control all deliveries and payments. Regular meetings with suppliers, accurate tracking of delivery, and verification of all orders against specified specifications and quality standards are essential to ensure smooth procurement processes. Over time, it may become necessary to adjust purchase contracts as your needs change.

RFQ, Negotiation, and Contracting

Once you have narrowed down your potential suppliers, you can start asking for quotes and negotiating as needed. The negotiation process can shed light on the reliability and credibility of potential suppliers. At this point, try to be clear about your requirements - delivery times, payment details, etc. There should also be well-thought-out delivery schedules. When all terms are agreed upon, you can sign an agreement.

Identification and selection of suppliers. 

Then you need to research and identify potential suppliers. Care must be taken to ensure that these suppliers can accurately meet your company's needs, and comparisons must be made to analyze the advantages and disadvantages of particular suppliers. Supplier selection criteria such as cost, delivery times, social and environmental responsibility, safety, service, support, and quality control should be analyzed.

Measure and Analyze 

Finally, the entire purchasing process should be analyzed using a consistent KPI framework. This will help measure the efficiency, profitability, speed, and overall success of the entire operation. It's time to identify areas for improvement and note any changes that need to be made. This will help ensure the success of future projects. Feedback should be sent to management or stakeholders and the main findings discussed in detail.

How can the e-procurement system help?

Proquo ensures efficient operations by eliminating unnecessary ones, allowing you to make the most of your time.

This can help your team improve your e-procurement strategy and ensure maximum productivity for your organization throughout the entire purchasing process.

As of October 2018, all public sector organizations must use an e-procurement solution to communicate and exchange information during tendering processes (for contracts beyond EU borders). This also includes bidding.

The bidders daily considered this a positive step. Before the decree entered into force, many organizations were constantly faced with time-consuming paperwork and manual processes that could lead to costly mistakes.

Why Proquo?

Proquo has built a centralized online market for interior materials that offers fair pricing and an enhanced technology experience to its clients. It does this by aggregating client’s demands, matching them with its supply chain, and offering economies of scale on material pricing, along with affordable credit options that were earlier not available to individual customers.

We assure the best price, quality assurance, and access to a wide range of suppliers. With a single point of contact, there is no hassle of managing multiple suppliers.

We allot each one of our customers a dedicated relationship manager to help them understand and meet their requirements.

We assure the top-notch quality of products that are well maintained and supplied to the customers. No compromise and no adjustments when it comes to quality. We are here to give and deliver the best interior products.