Day 4 : Challenge: Procurement
Key Problems:
- Lead Times: Delays in sourcing raw materials can disrupt production schedules
- Manual Processes: Inefficient workflows and lack of automation slow down procurement cycles
- Cost Control: Rising material costs and unpredictable price fluctuations
How to solve ?
- Lead Times: Integrate real-time tracking and alerts for purchase orders to ensure timely follow-ups with suppliers.
- Manual Processes: Automate repetitive tasks such as purchase order generation, approval workflows, and invoice matching using ERP systems.
- Cost Control: Utilize AI-driven analytics to forecast price trends, compare supplier pricing, and identify cost-saving opportunities.
How Likwid solves your challenge ?
- AI-Driven Insights: Predict price trends and optimize purchasing decisions.
- Streamlined Processes: Automate purchase orders, approvals, and tracking for faster workflows.
- Real-Time Monitoring: Keep tabs on lead times and ensure materials arrive when needed.
Know More at: https://www.likwid.co.in/
"What’s your top priority in procurement—speed, cost savings, or quality control?"
