How to have efficient purchasing management in your company?

In the not-so-distant past, the purchasing area was seen as a purely operational sector, with an accumulation of tasks and lack of control over spending.

Purchasing decisions were based more on personal relationships than on data analysis or business strategy.

But as companies recognized the impact of the sector on financial results, efficient purchasing management began to be considered fundamental to the success of organizations.

One of the main transformations was the emergence of technologies to automate purchasing processes, such as e-Procurement, freeing buyers from the operational routine to act strategically and intelligently.

These solutions provide real-time visibility, from purchase orders to supplier payments, and enable more agile, transparent and efficient purchasing management.

Furthermore, the adoption of sustainable practices is considered an important competitive advantage.

Companies that integrate environmental, social and governance criteria (ESG) in their purchasing strategies, not only promote corporate sustainability, but also minimize supply chain-related risks.

This approach also opens the way for innovations, greater efficiency and competitiveness in the market.

Companies that lead in implementing ESG criteria can also benefit from financial incentives, such as better financing conditions and access to investment funds. sustainable investments.

This is because investors are increasingly paying attention to the ethical, environmental and social issues of companies, as they recognize that these dimensions are essential for the sustainability and success of businesses in the long term.

7 practices for efficient purchasing management

To improve the efficiency of purchasing management in your company, it is essential to adopt strategic practices:

1. Set goals and key performance indicators (KPIs)

Setting goals and KPIs is essential for the success of the purchasing department. Indicators should be chosen according to your company's objectives, to support decisions based on facts and data. Monitoring supplier performance, price history, delivery quality, among other factors, brings greater efficiency to the sector.

2. Develop long-term relationships with suppliers

Developing relationships with suppliers is essential to ensure the quality, efficiency and resilience of the purchasing department, as well as enabling more advantageous negotiations and fostering innovation. Suppliers become more engaged when they realize that they are recognized as strategic partners, not just as service providers.

3. Centralize purchasing information

With data available in a purchasing management solution, purchasing teams can streamline decision-making, quickly identify what needs to be improved, and optimize procurement strategies. negotiation with suppliers. Furthermore, the centralization of data allows the traceability of information, increasing transparency and control of transactions.

4. Count on the collaboration of other sectors

Collaboration between the purchasing department and other sectors of the company is essential to improve procurement processes, especially to ensure that decisions are made more accurately. This integration promotes a systemic view of the organization and contributes to more efficient purchasing management, in addition to increasing the chances of cost reduction and innovation.

5. Manage risks proactively

Proactively identifying and managing risks associated with purchasing, including shortages, price and quality variations, are essential to maintaining an efficient supply chain. This involves the following practices: supplier management, as an assessment of technical, operational and financial capacity throughout the supply process.

6. Optimize inventory control and avoid waste

Optimizing inventory control involves several actions, such as demand forecasting, real-time visibility, product tracking, and identifying the need for replenishment or adjustments. In addition, by adopting just-in-time (JIT) practices, which produce only what is necessary, the company reduces costs due to potential waste or losses.

7. Analyze the market and update strategies

Having access to information about trends and innovations means being one step ahead in the competitive market. Understanding market trends makes it possible to customize products and services according to customer demands. With this data, your company can adjust purchasing strategies in real time, especially in uncertain scenarios.

Discover Mercado's solution for purchasing management and boost your team's results. Click here to learn more!

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