Digital innovation moves procurement risk and transparency forward

| 0 Comments
RudiKruger_2017.jpgThe act of obtaining or buying goods for business can be extremely complex. Compounded by numerous risks and time-consuming tasks, the additional pressures of procurement (like planning, supplier research, value analysis, price negotiation, contracts administration and inventory control) only add to the overall stress of the job. With so much to consider, the need for safe, efficient and reliable solutions to meet the demands of procurement are highly advantageous.

Today, digital solutions are constantly changing the way business is done. The advancement of technology has transformed almost every sector and operation for the better and there's no sign of it slowing down, says Rudi Kruger, General Manager of Risk Solutions at LexisNexis Data Services. "Technological innovation benefits business by putting pioneering solutions in the hands of busy professionals, thus promoting self-sufficiency and accuracy," he said.

In procurement, digital innovation has several benefits. "The business of procurement has immense scope and need for innovation. These include solutions to not only make the function simpler, but also to eliminate risk, increase transparency and create equal opportunity, thus ensuring effective spending for a business," said Kruger.

Most importantly, solutions that assist with combatting fraud are highly valuable. "Fraud is a great concern in any financial transaction, but can be even more concerning when there are employees and external suppliers involved," said Kruger.

Consequently, supplier vetting is one of procurement's tedious processes that can be simplified with a technology solution.

Web-based systems can assist organisations (public and private) and procurement professionals to identify and prevent corruption within procurement processes by vetting existing and potential suppliers.

When evaluating potential solutions, Kruger advises that candidate technologies must be able to recognise conflicts of interest within your organisation, potential suppliers or supply chain partners; and identify potential connections and ownership of property, and highlight outside business interests of employees, which helps combat corruption.

To mitigate reputational risk, organisations must investigate negative and positive news on suppliers and employees, which is another area in which technology can be a great ally.

To for more information on how technology can be leveraged in vetting your suppliers, contact Rudi Kruger on rudi.kruger@lexisnexis.co.za or visit procurecheck.co.za.

Leave a comment


 

 

Career opportunites

Procurement Manager

  • >500 000 Gauteng Permanent Procurement Management
Job purpose We are looking for a Procurement

Fresh Demand Planner/Supply Chain Analyst

  • Analyst Operations, Planning & Inventory Permanent Supply Chain Western Cape
(Jnr - Mid Level), Supply Chain Planning, Based

Groceries Demand Planner/Supply Chain Analyst

  • Analyst Operations, Planning & Inventory Permanent Supply Chain Western Cape
(Mid Level) Supply Chain Planning, Based at Kenilworth,

Category Implementation Manager

  • >500 000 Gauteng Permanent Projects / Category Management Supply Chain
As an Executive Search and Career Consultant specializing

Head of Procurement

  • >500 000 Gauteng Permanent Procurement Management Strategic Sourcing
As an Executive Search and Career Consultant specializing

Regional Sourcing Manager

  • >500 000 Gauteng Permanent Procurement Management Strategic Sourcing
As an Executive Search and Career Consultant specializing

Procurement Director

  • >500 000 KwaZulu Natal Permanent Procurement Management Strategic Sourcing
As an Executive Search and Career Consultant specializing

Procurement Specialist

  • >500 000 Buyer Gauteng Permanent Procurement Officer / Specialist
As an Executive Search and Career Consultant specializing

Senior Sourcing Manager

  • >500 000 Gauteng Permanent Procurement Management Strategic Sourcing Supply Chain
As an Executive Search and Career Consultant specializing

Indirect Sourcing Programme Manager

  • >500 000 Contract Projects / Category Management Strategic Sourcing Western Cape
As an Executive Search and Career Consultant specializing

Deputy Chief Commercial Officer

  • >500 000 Contract Gauteng Procurement Management Supplier / Business Development
As an Executive Search and Career Consultant specializing

GROUP PROCUREMENT MANAGER

  • Gauteng Permanent Procurement Management Supplier / Business Development
Operating out of Johannesburg, this is a key

Tutor and Coordinator

  • Gauteng Operations, Planning & Inventory Permanent Procurement Management Supplier / Business Development
Purpose of the job: To plan, coach, advise

Commodity Manager

  • <500 000 Commodities Gauteng Procurement Management
Are you a Commodity Manager looking for the

Supply Chain Professional

  • <500 000 Gauteng Procurement Management Supply Chain
I specialize in placing professionals in the Supply

Supply Planning

  • <500 000 Gauteng Operations, Planning & Inventory Supply Chain
Seeking dynamic candidates to take to the market

Industrial Engineer

  • <500 000 Gauteng Industrial Engineer Procurement Consultant
Are you an Industrial Engineer looking to make

Logistics Manager

  • >500 000 Gauteng Logistics & Warehousing Supply Chain
Seeking vibrant industry specific individuals seeking new opportunities

Operations Manager

  • <500 000 Gauteng Operations, Planning & Inventory Procurement Management
Looking for an Operations Manager to take into

Supply Chain Systems Administrator

  • >500 000 Gauteng Procurement Management Strategic Sourcing Supply Chain
One of South Africa's leading, mining companies is