A procurement budget tells us what we can and can’t afford—and serves to inform our purchasing strategy.
While a procurement budget can warn us when finances spiral out of control, they can’t prevent us from buying anything.
Failing to implement specific procedures like ordering restrictions and project-based budgets can take a toll on your bottom line.
Procurement is deeply involved in spending, and hence it should not be left out of the budgeting process.
There are many ways in which including procurement can benefit both the planning and execution of a company’s budget.
❓️𝗛𝗼𝘄?❓️
✅️𝘽𝙚𝙘𝙖𝙪𝙨𝙚 𝙬𝙚 𝙖𝙧𝙚 𝙗𝙚𝙨𝙩 𝙚𝙦𝙪𝙞𝙥𝙥𝙚𝙙 𝙩𝙤 𝙥𝙧𝙤𝙫𝙞𝙙𝙚 𝙚𝙨𝙩𝙞𝙢𝙖𝙩𝙚𝙨 𝙤𝙛 𝙘𝙤𝙨𝙩𝙨, 𝙖𝙣𝙙 𝙤𝙛 𝙩𝙝𝙚 𝙚𝙖𝙨𝙚 𝙤𝙧 𝙙𝙞𝙛𝙛𝙞𝙘𝙪𝙡𝙩𝙮 𝙤𝙛 𝙖𝙘𝙦𝙪𝙞𝙧𝙞𝙣𝙜 𝙩𝙝𝙚𝙢.
✅️𝘽𝙮 𝙚𝙭𝙖𝙢𝙞𝙣𝙞𝙣𝙜 𝙥𝙖𝙨𝙩 𝙨𝙥𝙚𝙣𝙙𝙞𝙣𝙜, 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮 𝙘𝙖𝙣 𝙞𝙙𝙚𝙣𝙩𝙞𝙛𝙮 𝙖𝙧𝙚𝙖𝙨 𝙬𝙝𝙚𝙧𝙚 𝙚𝙭𝙥𝙚𝙣𝙨𝙚𝙨 𝙖𝙧𝙚 𝙝𝙞𝙜𝙝 𝙖𝙣𝙙 𝙣𝙚𝙚𝙙 𝙩𝙤 𝙗𝙚 𝙧𝙚𝙙𝙪𝙘𝙚𝙙.
✅️𝙁𝙡𝙪𝙘𝙩𝙪𝙖𝙩𝙞𝙣𝙜 𝙥𝙧𝙞𝙘𝙚𝙨 𝙘𝙖𝙣 𝙝𝙖𝙫𝙚 𝙖 𝙜𝙧𝙚𝙖𝙩𝙚𝙧 𝙞𝙢𝙥𝙖𝙘𝙩 𝙤𝙣 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮 𝙩𝙝𝙖𝙣 𝙤𝙣𝙚 𝙢𝙞𝙜𝙝𝙩 𝙧𝙚𝙖𝙡𝙞𝙯𝙚. 𝙊𝙞𝙡 𝙥𝙧𝙞𝙘𝙚𝙨, 𝙛𝙤𝙧 𝙚𝙭𝙖𝙢𝙥𝙡𝙚, 𝙖𝙛𝙛𝙚𝙘𝙩 𝙩𝙝𝙚 𝙘𝙤𝙨𝙩 𝙤𝙛 𝙩𝙧𝙖𝙣𝙨𝙥𝙤𝙧𝙩𝙖𝙩𝙞𝙤𝙣. 𝙒𝙚 𝙘𝙖𝙣 𝙜𝙞𝙫𝙚 𝙖𝙙𝙫𝙞𝙘𝙚 𝙤𝙣 𝙝𝙤𝙬 𝙩𝙤 𝙖𝙘𝙘𝙤𝙪𝙣𝙩 𝙛𝙤𝙧 𝙩𝙝𝙖𝙩 𝙥𝙤𝙨𝙨𝙞𝙗𝙞𝙡𝙞𝙩𝙮 𝙞𝙣 𝙩𝙝𝙚 𝙗𝙪𝙙𝙜𝙚𝙩.
✅️𝘽𝙮 𝙩𝙖𝙠𝙞𝙣𝙜 𝙖𝙙𝙫𝙖𝙣𝙩𝙖𝙜𝙚 𝙤𝙛 𝙥𝙧𝙤𝙘𝙪𝙧𝙚𝙢𝙚𝙣𝙩 𝙢𝙖𝙧𝙠𝙚𝙩 𝙞𝙣𝙩𝙚𝙡𝙡𝙞𝙜𝙚𝙣𝙘𝙚 𝙖𝙣𝙙 𝙚𝙭𝙥𝙚𝙧𝙞𝙚𝙣𝙘𝙚, 𝙞𝙩 𝙞𝙨 𝙥𝙤𝙨𝙨𝙞𝙗𝙡𝙚 𝙩𝙤 𝙘𝙧𝙚𝙖𝙩𝙚 𝙖 𝙢𝙤𝙧𝙚 𝙖𝙘𝙘𝙪𝙧𝙖𝙩𝙚 𝙗𝙪𝙙𝙜𝙚𝙩, 𝙥𝙡𝙖𝙣 𝙛𝙤𝙧 𝙨𝙪𝙥𝙥𝙡𝙮 𝙘𝙝𝙖𝙞𝙣 𝙨𝙚𝙩𝙗𝙖𝙘𝙠𝙨, 𝙖𝙣𝙙 𝙛𝙞𝙣𝙙 𝙩𝙝𝙚 𝙤𝙥𝙩𝙞𝙢𝙖𝙡 𝙬𝙖𝙮 𝙩𝙤 𝙘𝙖𝙧𝙧𝙮 𝙤𝙪𝙩 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮’𝙨 𝙥𝙡𝙖𝙣𝙨.
✳ Hey there, it’s Onkar Gill
🔺 A Supply Chain Expert!
✅ Let’s work together to take the procurement game to the next level!”
Like this post?
Want to see more stuff?
🔔 Follow Onkar Gill
Connect with me
hashtag#procurement hashtag#sourcingandprocurement hashtag#vendormanagement hashtag#procuretopay hashtag#supplychain hashtag#logisticsmanagement
hashtag#freight hashtag#import hashtag#contractmanagement hashtag#contract
Leave feedback about this