raProcure: Powering Manufacturing Plants with Cost Efficiency
raProcure is a B2B portal created to simplify the procurement process between manufacturing plants and vendors. In every industry, manufacturers are the core of procurement as they produce the final product. However, they usually incur high operational costs, which reduce their profit margins.
Operational costs can be considered both fixed and variable. Although the fixed portion cannot be altered, the variable expense can be drastically reduced by optimizing the process. Here, raProcure comes into play by simplifying and reducing the complexities of manufacturing units by implementing data-driven tools into the portal.
Procurement Challenges Faced by Manufacturing Plants
Manufacturers face various challenges during the entire procurement process, which inflate their production costs and other expenses.
Fluctuating Prices
Commodity prices fluctuate frequently in every industry, making negotiations time-consuming.
Fewer Connections
Buyers usually have fewer vendor connections, which restricts their initial choices. This limited pool reduces the opportunities for cost savings, and in some cases, vendors offer lower-quality products for higher prices.
Tackling Multiple Calls
Manufacturers need to make multiple calls to retrieve the best offer from different sellers. This hampers efficiency and resources in the long run.
raProcure: Revolutionizing Manufacturing Operations Through Targeted Innovations
raProcure has considered these challenges and has implemented tools to ensure procurement in the most cost-efficient and effective way. This gives an edge to the manufacturing units and makes sure that they receive the highest quality commodities while mitigating expenses.
Trusted Vendors
raProcure conducts a detailed check during the registration process. This helps in making sure that the vendors and the products they supply are genuine.
Increased Reach
The portal features thousands of vendors that can help buyers find multiple sellers for their preferred item.
Bulk RFQ Generation
Manufacturing plants can generate multiple RFQs from different vendors with a few clicks in a centralized tab. This reduces hassle and saves time.
Competitive Information Statement
A Competitive Information Statement is a useful tool for tackling multiple vendor quotations. It automatically organizes each offer and highlights the most cost-efficient one. The system locks the price if any offer is accepted, eventually eliminating the need to negotiate.
Reverse E-Auction
Buyers can initiate a reverse e-auction by listing their preferred product and the maximum price. Relevant sellers can then participate and bid to provide the best possible offer.
Overview
Manufacturers in raProcure utilize various tools to optimize their procurement process. These tools help them to save time, facilitate connections with sellers, and reduce expenses, ultimately boosting profitability and savings.
