Procurement

Informed Choices, Greater Success

A well-managed procurement decision process plays a crucial role in establishing optimal supply quantities in alignment with stock policies while ensuring timely material acquisition. By orchestrating procurement and end-to-end supply chain management, the organization gains the ability to strategically plan for short, mid, and long-term material requirements. This results in accurate purchasing decisions through optimally designed procurement strategies.

ICRON Procurement ensures the seamless fulfillment of orders, minimize delays, and enhance supplier management, ultimately fostering operational excellence. It also exerts a positive impact on the entire purchasing process leading up to order completion by effectively managing raw and packaging material supplies and optimizing supplier relationships.

Benefits

Let's dive into how ICRON Procurement benefits your organization with improved operations, optimized decision-making, and long-term sustainability.

Optimize Purchase Plan

Make the optimal purchase plan by evaluating supply chain procurement risks and taking real-life supply disruptions into consideration in your decisions.

Strengthen Supplier Relationships

Adopt proactive and timely procurement to build strong relationships with suppliers, resulting in improved terms, faster delivery, and enhanced collaboration. Track your suppliers’ performance and manage contracts using the integrated supplier management system.

Respond Proactively to Disruptions

Easily define and manage your supply chain and procurement constraints as well as purchasing parameters. Be resilient towards market changes and demand fluctuations, optimizing inventory for greater efficiency.

Manage Purchase Orders Effectively

Prioritize orders based on importance, forecasts, and replenishment policies. Evaluate supply risks to adapt to real-life disruptions in the procurement cycle.

Align Finances with Procurement

Optimize purchasing decisions by seamlessly integrating budget considerations with procurement strategies. Ensure procurement activities align with financial goals to prevent overspending or material shortages.

Ensure Timely Procurement

Be notified for each material about the dates and quantities to meet material requirements promptly.

Master Contract Lifecycle

Empower procurement teams to seamlessly handle contract lifecycles from initiation to expiration. Facilitate proactive alerts for contract renewals or renegotiations, ensuring timely actions.

Gain Real-Time Visibility

Instantly assess the impact of material purchases on finished goods requirements for timely adjustments and enhanced production planning.

Boost Efficiency

Automate purchase proposals that consider stock levels, shelf-life, and integrated material management policies.

Measurable Benefits

Reduction in Backorders

Stockout Rate Decrease

Reduction in Overstock Cost

A Unique Perspective on
Procurement Decisions
with ICRON's Differentiators

Customer Centricity

Efficiently manage procurement process to respond quickly to customer demands, reduce delivery times, and provide a more agile and responsive service.
Manage risk effectively to ensure continuity of supply, reduce the likelihood of disruptions and increase customer satisfaction.
Improve supplier relationships and visibility to respond more faster to changes in customer demand and market dynamics.

Dynamic Global Pegging

Creating a dynamic link between your material purchases and finished goods orders and forecasts through pegging fosters seamless integration.
Accessing real-time insights into procurement requirements at every supply chain stage empowers businesses to make swift responses to evolving customer demands, market trends, and unforeseen disruptions.

Embedded Analytics

Having access to real-time procurement analysis enables informed decision-making in sourcing, supplier selection, and negotiation.
By analyzing spending patterns, and contract compliance, you can identify opportunities for cost savings.

Risk Management

Strengthening your supply chain procurement reliability involves meticulous risk analysis, monitoring supplier management, market conditions, and potential disruptions.
The evaluation of purchase-related risks should coincide with the alignment of these risks with the associated orders, forecasts, and inventory levels.
ICRON’s Material Risk & Opportunity Assessment serves as a proactive strategy to address challenges and to take advantages of procurement opportunities for your business.

Sustainability

Prioritizing sustainability in material management sourcing and product procurement fosters a greener and more responsible supply chain.
By optimizing processes, including inventory streamlining, reduction of excess stock, waste minimization, and material utilization maximization, businesses promote resource efficiency while adhering to circular economy principles.

Adaptive Scenario Planning

Visualizing the long-term consequences of decisions supports sustainable practices and informed strategic planning within your operations.
Utilizing scenario analysis includes assessing risks, identifying crucial suppliers, and facilitating robust contingency planning to ensure smooth operations during challenging circumstances.
Scenario analysis also aids in assessing price fluctuations, optimizing inventory, and negotiating for better deals, promoting the development of cost-effective sourcing strategies for your businesses.

Features That Set You Apart for Success!

ICRON Procurement is equipped with cutting-edge technological features that empower your organization to optimize the procurement process at all strategic, tactical and operational levels, facilitating efficient and informed decision-making.

Parametric & Multi-Level Purchase Plan

Flexible, automatic purchase proposals considering critical inventory levels, shelf-life, and inventory control policies to prevent stock-outs

Inventory Critical Level & Control Policy Management

Time-based inventory control policy management for:

Minimum inventory level (Reorder cycle)
Safety stock
Economic order quantity
Minimum order quantity
Fixed order quantity
Maximum order quantity

Forecast Integration via Parametric Forecast Netting

Customer orders and past shipments integration
Forecast aggregation and disaggregation between different time granularities (e.g., quarterly, monthly, weekly, etc.)
Forecast netting for multiple future periods

Elevate Your Procurement Management  

With ICRON Procurement as your ally, operations are streamlined, costs are minimized, and sustainability takes the forefront, resulting in heightened efficiency, fortified supplier relationships, and well-informed decision-making.

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