FEBC - Procurement Solution

Procure with Ease: Streamline, Simplify, and Optimize Your Supply Chain.

Overview

Full-service hospitality software focusing on Procurement Management, Strategic Contracting, F&B Concepts and Pre-Opening Activation.

ALESSANDRO TEDESCO

/ Chief Operating Officer, Middle East and Asia Pacific

Excited to announce the implementation of our new and advanced Procurement System, designed to streamline and enhance our organization’s procurement processes. This system marks a significant milestone in our commitment to modernize and improve efficiency in procurement, ensuring seamless transactions and fostering strong supplier relationships.

Tags	AutomatedProcurement, CostEffectiveSourcing, EfficientProcurement, EfficientSupplierManagement, RealTimeInventory, SmartSupplyChain
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Requirements

Our solution

Inefficient Requisition Process – Some organizations struggle with a manual and time-consuming requisition process, involving paper-based forms and multiple approvals. This leads to delays, errors, and a lack of visibility into the procurement pipeline.

Implement an Automated Requisition Management System – Introduce an automated requisition management system within the procurement system. This system should allow users to create and submit requisitions online, attach supporting documents, and route them for approval electronically. This streamlines the process, reduces manual effort, and provides real-time visibility into requisition status.

Lack of Supplier Information Management – Organizations often face challenges in maintaining accurate and up-to-date supplier information. This can result in outdated contact details, certifications, and performance records, leading to difficulties in supplier evaluation and selection.

Centralized Supplier Database – Implement a centralized supplier database within the procurement system. This database should store comprehensive supplier information, including contact details, certifications, performance ratings, and historical data. It should allow for easy updates and provide a reliable source of information for supplier evaluation and selection.

Ineffective Vendor Evaluation and Selection – Some organizations struggle with a subjective and inconsistent vendor evaluation and selection process. Lack of standardized evaluation criteria and scoring mechanisms can lead to suboptimal supplier choices and increased risks.

Standardized Vendor Evaluation and Selection Module – Introduce a standardized vendor evaluation and selection module within the procurement system. This module should define and implement evaluation criteria, scoring mechanisms, and weightage for different criteria. It should provide a structured and objective process for assessing potential suppliers, enabling better decision-making and fostering long-term partnerships.

Inefficient Purchase Order Management – Manual purchase order management can be prone to errors, delays, and limited visibility into the status of purchase orders. This can result in disruptions to the supply chain and hinder effective procurement operations.

Streamlined Purchase Order Management – Implement a streamlined purchase order management system within the procurement system. This system should enable users to generate purchase orders electronically, track their status in real-time, and receive notifications for order updates. It should also facilitate seamless communication with suppliers for order confirmations and revisions, improving efficiency and transparency in the procurement process.

Poor Contract Management – Organizations may struggle with manual and disorganized contract management processes, leading to difficulties in tracking contract expiration dates, renewals, and compliance. This can result in missed opportunities for cost savings and increased contractual risks.

Enhanced Contract Management Functionality – Enhance the contract management functionality within the procurement system. This should include features such as contract templates, automated renewal alerts, milestone tracking, and version control. It should provide a centralized repository for contracts, ensuring easy access, compliance monitoring, and timely actions for contract renewals or amendments.

Limited Data Visibility and Analysis – Organizations may lack comprehensive reporting and analytics capabilities within their procurement system, making it challenging to derive meaningful insights from procurement data. This can hinder strategic decision-making and process improvements.

Robust Reporting and Analytics Module – Integrate a robust reporting and analytics module into the procurement system. This module should enable users to generate customized reports, monitor key performance indicators, and analyze procurement data to identify trends, areas for improvement, and cost optimization opportunities. It should provide actionable insights to drive informed decision-making in procurement.

Results:

Faster procurement, automated tendering process, pre-qualified suppliers direct from CRM, Reports and much more.

User-Friendly Interface

The Procurement System offers a user-friendly interface, making it easy for all authorized personnel to navigate and utilize its functionalities. You will have access to intuitive screens and menus, ensuring a smooth user experience.

Reporting and Analytics

Our system provides comprehensive reporting and analytics capabilities, empowering you to derive actionable insights from procurement data. You can generate customized reports, monitor key performance indicators, and identify areas for process improvement and cost optimization.

Requisition Management

Our new system enables you to create, submit, and track requisitions online. You can specify your requirements, attach supporting documents, and route the requests for necessary approvals. This automated process will expedite procurement cycles and minimize errors.

Vendor Evaluation and Selection

The Procurement System introduces a robust vendor evaluation and selection module. It incorporates evaluation criteria and scoring mechanisms, enabling a standardized and objective assessment of potential suppliers. This module will enhance the quality of our supplier base and foster long-term partnerships.

Centralized Supplier Database

The system provides a centralized supplier database, allowing you to maintain comprehensive supplier information, including contact details, certifications, and performance ratings. This database will facilitate efficient supplier management and enable us to make informed decisions when selecting and engaging suppliers.

Purchase Order Management

With the new system, managing purchase orders becomes more efficient and transparent. You can generate purchase orders, track their status, and receive real-time notifications on order updates. Additionally, the system facilitates seamless communication with suppliers for order confirmations and revisions.

Contract Management

The Procurement System streamlines contract management, allowing you to create, store, and monitor contracts electronically. You will have access to contract templates, renewal alerts, and key milestone tracking, ensuring compliance and minimizing contract-related risks.

Integration and Compatibility

The Procurement System is designed to seamlessly integrate with our existing enterprise systems, such as finance and inventory management. This integration ensures data accuracy, reduces manual data entry, and facilitates efficient information sharing across departments.