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    • How procurement technology can engage employees across industries
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    How procurement technology can engage employees across industries

    Pabio Posted on

    Amazon Company
    | THE UNITED STATES TODAY

    Organizations across all industries need to do everything they can to retain valuable employees, and one way to do that is to ensure those employees have all the tools they need to do their job. work.

    From a procurement perspective, this means ensuring access to easy-to-use systems to find and purchase the items they need when they need them.

    This involves using new technologies such as artificial intelligence, including machine learning, which can deliver much more personalized shopping experiences. Search by Gartner predicts that half of supply contract management will be AI-based by 2027.

    An effective procurement solution can also help organizations achieve their sustainability goals, which are increasingly important to both customers and employees. This is because more spending can be directed towards preferred suppliers, who can be evaluated by procurement teams based on their sustainability credentials before establishing a preferred supplier list. A study by The World Economic Forum finds that 60% of companies are focusing on sustainable purchasing, partly in response to this pressure.

    The following sectors are just some of those that can improve employee satisfaction and retention through more effective and efficient procurement:

    Financial services: With a large number of physical outlets, ensuring each location has the right equipment is no easy task. Amazon Company can help here, thanks to tools such as Guided purchase and Business Prime, which offers personalized delivery options. This can result in better customer service which, in turn, can improve employee satisfaction and drive retention.

    From a recruitment perspective, financial services organizations need to attract talented graduates and other young people in a highly competitive market. This generation cares deeply about sustainability, so demonstrating a strong commitment to sustainable sourcing can help attract top talent. Thanks to his Visibility of expenses (included with a Business Prime membership), Amazon Business allows businesses to show the progress that has been made, including increased spending with sustainable suppliers.

    Manufacturing: Whether in the field or in the factory, manufacturing teams need the right products delivered on tight deadlines to complete projects on time and on budget. Simple approval processes, transparent pricing, and no minimum order requirements are also important considerations.

    Journey: Digitizing procurement processes such as inventory management is extremely important for travel and hospitality businesses that often operate on tight margins. Improved operational efficiencies mean employees have more time to focus on bringing a human touch to their customers’ travel experience and hospitality, improving sales opportunities incentive.

    Health care : Due to staff shortages and multiple responsibilities, clinicians and managers must have access to a wide range of materials, often at very short notice. Solutions to reduce time spent shopping can help staff return to essential responsibilities, such as patient care. Ease of navigation is therefore particularly valuable.

    Non-profit: With a wide range of responsibilities in a cost-conscious environment, employees in the nonprofit sector need cost-effective solutions that reduce their workload and simplify purchasing. Amazon Business offers tools like Lists and Subscribe & Save that can help put purchasing on autopilot, potentially reducing burnout and allowing employees to focus on their broader missions.

    Education: Teachers must constantly procure essential products for schools, colleges and universities while simultaneously managing purchases. Relieving their manual administrative burden by finding low prices and reliable suppliers allows them to focus on developing students and helping them realize their potential.

    Effective purchasing in action

    Organizations across many different industries are already benefiting from more efficient procurement systems, including leveraging the potential of AI.

    Global nonprofit The United Service Organizations (USO) supports service members and their families with vital supplies. Any delay in purchases can have real consequences, both for those who need help and for demotivating employees whose passion is helping those in need.

    USO recently overhauled its procurement and financing processes, implementing a Procure-to-Pay solution from Coupa, including Amazon Business integration through punch technology.

    This allows employees to access Amazon Business through the Coupa system, helping to reduce processing times and ensuring fast, free delivery through Business Prime. Employees benefit from the same customer experience they enjoy in their personal lives, eliminating previous frustrations with the procurement process.

    For procurement team members, this means purchases are made from preferred suppliers, in accordance with agreed spend policies, while also improving spend visibility.

    The new setup means the USO can source supplies, manage regional budgets and support programs such as the Bob Hope Legacy Reading Program through one reliable system.

    The company also benefits from efficiency gains through automation and a self-service model that can reduce workload and speed delivery of essential supplies. In turn, this saved time and money that was reinvested in programs for servicemembers and their families, strengthening the USO’s mission and helping to engage employees.

    Another example is a global manufacturing solutions company Jabilwhich made nearly $6 billion in indirect spend across multiple regions, spread across multiple suppliers.

    The company needed to have more control over this tail spenddirecting spending to preferred suppliers and ensuring they benefit from competitive pricing and economies of scale.

    Jabil’s solution was to deploy Coupa’s commerce spend management system as part of a broader transformation strategy and deploy Amazon Business as punch option for tail spend. In addition to cost savings, this resulted in a much simpler order management and invoicing platform, helping to create efficiencies for colleagues in finance teams.

    Meanwhile, other employees benefit from a better user experience and more efficient process which, combined with the use of tools like Amazon Business integration And Guided purchase (a paid feature), contributed to a 40% increase in spending directed to preferred suppliers.

    To learn more about how Amazon Business could help you engage your employees with more efficient procurement processes, visit business.amazon.com.

    Amazon Business is a client of Business Reporter.

    Members of the USA TODAY Network editorial and news team were not involved in the creation of this content.

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