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PROCUREMENT


EXPECT THE UNEXPECTED


nergy price hikes. The cost-of-living crisis. War in Europe. Brexit. Staff shortages. Mini- budget turmoil. The risk of recession. Even aftershocks from the pandemic ... have businesses ever faced so many disruptions at once?


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Business leaders may have felt despondent before Christmas at the prospect of meeting festive demand, but while disruptions will always occur, they no longer need to derail your work. Supply chain challenges of the past have inspired new tools that can help managers build digital resilience and reinforce procurement processes, ensuring businesses can get as close to what they need, when they need it, in a cost-effective manner.


It all begins with the implementation of smart processes. Cloud-enabled tools — like content management that controls business processes and organises documents and metadata stored on multiple servers, and automated business operations that empower workers to take on more impactful work — help to build near disruption-resilient production pipelines that can withstand even unforeseen obstacles. So, let’s take a look at the operational challenges you might face this winter — and how you can overcome them by using smart technology.


Bottlenecks within procurement Within manufacturing, procurement is an irreplaceable part of operations. And the procurement pipeline is the lifecycle of contracts to be re-procured, plus new procurement projects to be finalised within a set period.


This pipeline involves various activities — from sourcing raw materials, to processing


46 FEBRUARY 2023 | PROCESS & CONTROL


Grace Nam, Strategic Solutions Manager at Laserfiche, explains how to build a disruption- resilient production pipeline using ECM and RPA


contracts, to performing quality and regulatory assurance. But today’s scattered technologies, complex processes, siloed information, and rising material costs mean manufacturers are at a higher risk of supply chain disruption than ever.


Data transparency and visibility are crucial to navigating these disruptions. Managers must re-evaluate the continuity of their operations and data security. Are you ready to pivot with sudden market shifts? Can you ensure your latest processes still comply with organisational and industrial regulations? In today’s ultra-competitive landscape, building adaptability, efficiency and resilience into the procurement pipeline is crucial to a business’s continued success. Creating operational efficiency within procurement usually involves gaining more control of critical documents and data. Traditionally, this would mean manually scrutinising documentation, risking human error, data silos, a lack of structure, and delays. Instead, it’s far simpler to automate the process by harnessing enterprise content management (ECM) software.


Today’s organisations are dealing with a deluge of data — 60% of remote employees say that they spend more time looking for documents and data than sending email; while nearly 90% spend time during the workday searching for documents. Leading ECM systems enable the electronic capture of procurement paperwork and secure storage


in a single, easily accessible online location. They can also automatically place files into relevant folders and notify individuals when a document needs their attention, enable the simultaneous viewing and editing of documents by multiple stakeholders on multiple platforms, and even automate records management for instant adherence to payment terms and conditions. Using an ECM system, business leaders can create a consistent modern workplace in which employees can reclaim time from these repetitive activities to take on more value-added, fulfilling tasks.


Turning efficiency into excellence Once a business’s processes have become more resilient to disruption, managers can focus on improvements that boost performance and profitability. According to Laserfiche’s “Industry Research: Digitalization of Document-Centric Workflows”, almost half (42%) of respondents indicated their organisation is unable to keep track of real- time workflows, hampering lucrative progress within their supply chains.


Fortunately, tools like robotic process automation (RPA) speed up procurement by synchronising data across unstructured content and multiple applications in workflow processes. With RPA, manufacturers can define and automatically execute various rule-based tasks to reduce errors and improve productivity.


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