Procurement Insights

What is Procurement?

Procurement refers to the process of acquiring goods, services, or works from an external source. It typically involves activities such as identifying needs, sourcing suppliers, negotiating contracts, and managing orders until delivery and payment. Procurement is a critical business function as it directly impacts an organization's costs, efficiency, and risk management.

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What other technologies are related to Procurement?

Procurement Competitor Technologies

Oracle Fusion Cloud Applications

Oracle Fusion Cloud Applications provides procurement modules that directly compete with other procurement solutions.

mentioned alongside Procurement in 30% (196) of relevant job posts

SAP Ariba Supply Chain Collaboration

SAP Ariba is a direct competitor, offering comprehensive procurement and supply chain management solutions.

mentioned alongside Procurement in 46% (51) of relevant job posts

Procurement Complementary Technologies

Inventory

Inventory systems provide data on available stock, crucial for procurement decisions and supply chain optimization.

mentioned alongside Procurement in 18% (708) of relevant job posts

Inventory Management

Effective inventory management ensures optimal stock levels, reducing carrying costs and preventing shortages, which aligns with efficient procurement strategies.

mentioned alongside Procurement in 13% (637) of relevant job posts

Manufacturing

Manufacturing systems create demand for raw materials and components, directly impacting procurement needs and sourcing strategies.

mentioned alongside Procurement in 16% (530) of relevant job posts