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The Value of Time within a Purchasing Department

The Value of Time within a Purchasing Department

By the nature of their profession, purchasing managers are required to have a good understanding of the value of time, especially when they are called upon to make strategic decisions. To succeed collectively as a procurement department, senior management as well as team members must be up-to-date and informed about all relevant information that will affect their purchasing decisions; gathering and synthesizing this knowledge takes time. How do purchasing departments find the time to stay up-to-date without sacrificing productivity?

The notion of maximizing the value of time is particularly important within public sector organizations. Budgetary constraints are currently being applied at all levels of government, and a focus on efficiency and data-based decision making has become the ‘new normal’ in the public sector. As a result, purchasing departments have been re-examining their processes with an eye to identifying opportunities for both cost and time savings.

Finding the Time

It can be challenging to find ways to deliver concrete time savings within a fast-paced public sector purchasing department. Employees and managers are not always enthusiastic about workplace changes; however, by looking at solutions that can address multiple process inefficiencies with a single implementation, public sector procurement managers can demonstrate effectively the benefits that efficiency improvements deliver to the entire purchasing department.

Freeing up employee time by streamlining outdated processes and eliminating departmental redundancies is the first step to increasing efficiency and overall productivity in public sector procurement. The most cost-effective way to realize these benefits is through the implementation of a robust SaaS (Software-as-a-Service) bid system to take unnecessary manual steps out of the purchasing process, and to automate and streamline crucial aspects of procurement including vendor management, publishing and distributing bid opportunities, and the achievement of compliance objectives.

Purchasing professionals working in public sector organizations have many responsibilities, including but not limited to the coordination of procurement objectives, the development and maintenance of relationships with suppliers, and ensuring that purchasing initiatives generate the greatest value for the buying organization. A SaaS procurement solution addresses all of these concerns by allowing purchasing professionals to save time and resources at each step of procurement, from creating and publishing solicitations to supplier relationship management, bid comparison and bid awarding.

How SaaS Saves Time During Purchasing Initiatives

  • Elimination of paper-based, manual processes during solicitation publishing
  • Automation of vendor relationship management
  • Streamlined bid comparison, evaluation and awarding processes
  • Complete transparency and data trail for auditing purposes
  • Automated compliance with local and state purchasing guidelines

Increasingly, public sector purchasing departments will be expected to do more with less. The achievement of cost savings and efficiency improvements will depend entirely on the willingness of procurement managers to integrate new technologies and process improvements with their workflows, allowing their employees to benefit from a modernized, streamlined purchasing process.

Nathan Munn | SourceSuite.com

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