A cloud-based solution for procurement operations
Purchasing managers know that procurement can come with numerous challenges such as poor vendor communication, unnecessary spending, inaccurate data, manual processes, and lackluster supplier performance. Rand Group has a deep understanding of procurement from our 20 years of serving clients, and has developed a unique, cloud-based solution to simplify purchasing and maximize profitability by ensuring clear communication and data throughout the supply chain.
Buy the right items at the right price with a connected procurement solution
The process of finding and working with vendors, purchasing products, and ensuring the quality of goods and services are key factors that impact a company’s reputation and success. Get a leg up on the competition with a properly implemented and tailored procurement solution that improves visibility by generating real-time views into company spend and vendor performance, and enables clear communication throughout the procure-to-pay process. With Rand Group’s cloud-based procurement solution, you can identify suppliers, onboard suppliers as new vendors, maintain vendor information, create agreements, order items and services, maintain purchase orders, and confirm receipt of products all in a single system.
Rand Group is your long-term technology partner to implement a procurement solution that will help you gain a 360-degree view of purchasing operations. Our software engineers will implement the solution tailored to your unique business and supply chain processes, plus integrate it with the rest of your technology stack. We also offer extensive training to ensure user adoption and long-term return on investment from your business solutions.
Administer purchasing policies
Realize maximum cost saving by ensuring that negotiated pricing is automatically leveraged based on purchase policies defined for specific business needs. Leverage spend data to identify trends and potential areas for cost-saving initiatives.
Simplify and automate procurement workflows
Streamline purchasing operations with cross-procurement workflows for purchase requisitions, RFQ, and trade agreements for direct and indirect purchases. Configure workflows to your business processes from the purchase contract through payment with approval at each step.
Enable strong vendor collaboration
Work together with suppliers as if they are part of an integrated and seamless pipeline. Use a single application to seamlessly collaborate with vendors, manage contracts, onboard them, and monitor performance such as on-time delivery and quality.
Functionality available in Rand Group’s procurement solution
A procurement solution delivered by Rand Group that integrates with the rest of your supply chain operations allows you to work proactively and set contingency plans for alternative suppliers well in advance. This saves you precious time in case of unforeseen delays or backlogs with your regular suppliers, and helps you secure better pricing without making panicked decisions.
With a procurement solution from Rand Group you can:
- Configure procure-to-purchase process, catalogs, requisitions, RFQs, and purchasing policies
- Set purchase parameters, create purchase order workflows, conduct change management, and manage vendor returns
- Manage quality and compliance
- Create trade, sales, royalty and purchase agreements
- Streamline vendor communication and information processing
Utilize a comprehensive vendor collaboration portal
Communication and collaboration with vendors is a key task when it comes to procurement. Rand Group’s procurement solution includes vendor collaboration tools to streamline processes, boost visibility, and centralize data.
Vendor collaboration features include:
- Online portal to manage all aspects of communication with vendors
- Easy access to purchase orders, invoices, inventory, and catalogs
- Built-in reports to track vendor performance
- Ability to track and maintain vendor certifications
- RFQ workflows and ability to respond with bids
- Management of all vendor information including bank information and online payments
Discover other business solutions offered by Rand Group
Rand Group offers numerous solutions for supply chain optimization that we tailor to each client to transform your operations. Our team of software engineers will ensure your solution integrates with the rest of your technology stack and can accommodate unique processes and facilitate data flows. Explore other solutions below to compliment procurement.
Demand Planning & Forecasting
Ensure you always have the right amount of inventory on hand to fill orders by accurately forecasting needs based on historical demand, seasonality, open opportunities, and sales forecasts. Calculate and generate both demand and supply plans, plus execute orders using a comprehensive demand planning and forecasting solution.
Product Management
Manage all information and processes related to your products or services from the beginning of its lifecycle to its end across supply chains networks. With a product management solution, unify processes for faster decision-making, reduce the time from innovation to launch, improve quality management, and enforce product compliance.
Inventory Management
Seamlessly connect all your business applications to enhance your inventory management capabilities, improve business processes, and eliminate manual inaccuracies. Automatically track your inventory levels, orders, and sales throughout the inventory life cycle, and unlock insights needed to make data-driven decisions.
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