How Blockchain can Transform Your Procurement Company

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How Blockchain can Transform Your Procurement
Company
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• Procurement and supply chain is on the cusp of
  a disruption with AI, IoT and blockchain
  technology.
• A digital transformation is ensuing with the
  promise of greater efficiency in business
  processes, operations, transparency, and
  security.
• The biggest challenge for todays business is
  to quickly recognize this opportunity stay
  ahead of the game.

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Here are Some Things to Consider for The Next
Generation of Procurement Supply Chain

1. Spend Analysis.
2. Supplier Lifecycle Management.
3. Strategic Sourcing.
4. Contract Management.
5. E-Commerce Online Stores.

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Spend Analysis

• Spend analysis is the process of identifying,
  gathering, cleansing, grouping, categorizing
  analyzing your organizations spend data with a
  goal of decreasing procurement costs improving
  efficiencies.  
• Using real-time data and analytics will give
  you the insight you need you to save money and
  gain efficiency.

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Supplier Lifecycle Management
Supplier Lifecycle is a unique supplier lifecycle
management solution. Its capabilities are
integrated with your procurement processes to
help you drive spend to preferred suppliers and
scale compliance for your entire supply base.

1. Provide you with a single, accurate supplier
   record.
2. Make it easy for suppliers to maintain their own
   information.
3. Let you manage suppliers based on specific
   parameters.

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Strategic Sourcing

• Sourcing is a fairly complex business process
  with stakeholders from cross-functional teams.
• Supplier bids are collected using online
  sourcing events, but a large part of the sourcing
  evaluation and award process is manual in nature.
  
• Using blockchain for through all steps of the
  process proposals, quotes, bids or auction,
  can offer greater efficiency and transparency.

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Contract Management

• Inefficient contracting can cause inadvertent
  losses to business, and some of the biggest
  challenges in contracting are to track compliance
  and obligations.
• A blockchain platform and its smart contract
  framework coupled with IoT and AI can help
  facilitate greater efficiency in compliance and
  obligation management.
• Blockchains are immutable and therefore it may
  be possible to eliminate the need for electronic
  signature in near future.

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E - Commerce Online Stores

• A blockchain-powered solution can provide a
  robust platform for suppliers and buyers to
  collaborate and manage an online store. The smart
  contracts can be enabled to validate all the
  rules required for business compliance,
  regulatory compliance, obligation management and
  more.
• The supplier ratings and reviews from an
  e-Commerce site can be integrated with supplier
  evaluations and risk.

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Are You Looking for a Blockchain App Developer?
Contact Us
https//www.consagous.com/blockchain-services/
https//www.consagous.com/ info_at_consagous.com
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