13 - 15 October, 2020
Hyatt Regency Barcelona Tower
44 (0) 207 368 9465
Here’s How Bosch Packaging Technology Is Partnering with Jaggaer to Increase Visibility and Efficiency Across Its Procurement Processes
Competitiveness is more important in today’s global economy than ever before. With rising economies such as China or India able to offer cheaper products and services than ever before, procurement is no longer a matter of purchasing, but strategic management of organisational spend.
In getting a handle on organisational spend brands can help make sure their procurement process is as streamlined and efficient as possible. This will, not only enable a business to operate its supply chains more efficiently but it will also allow it to perform more effectively on the competitive world stage.
With supply chains having so many moving parts, it’s easy for inefficiencies to creep in, necessitating the need to rethink how brands handle their supplier and purchasing relationships.
To this end, Bosch Packaging Technology is establishing a new partnership to help increase visibility and efficiency across its procurement processes.
The ProcureCon Europe 2019 event is being held in October, in the NH Tower, Barcelona.
You can download the agenda today for more information and insights.
Bosch Packaging Technology
As is so often the case in today’s business world, digital technology provides solutions to the problem of tackling visibility and efficiency for the procurement industry.
Bosch Packaging Technology is no exception this rule and is adopting a digital platform developed by Jaggaer to better manage its organisational procurement spend. The solution provided by Jaggaer is going to be deployed as part of the packaging firm’s ongoing digitalisation strategy and aims to boost transparency across the entire division.
Jaggaer’s cloud-based digital platform has been designed to mimic online shopping portals such as Amazon and eBay to make it easier than ever to reach suppliers and develop mutually beneficial procurement relationships.
“The supplier management process is simplified both for organisations and for their suppliers as the whole buying process from initial tender to invoice payment is handled through the same platform,” said Jaggaer. “Organisations have all their supplier data in one place, making it easy to access supplier information and manage supplier relationship and performance.”
The Jaggaer platform can be configured to match any industry and allows procurement professionals to easily shop for everything from office supplies and building materials, to hiring services such as catering and cleaning providers.
You can promote preferred suppliers and pass those recommendations on to direct shoppers and establish contracts which help to reduce prices and increase purchasing compliance by up to 80%. Automated approval processes, and order placement and tracking help to complete the package.
“Jaggaer solutions provide a profound basis for implementing our digitalisation roadmap. By using Jaggaer’s state-of-the-art technology, we have the opportunity to re-engineer and standardise our processes,” said Oliver Merle, Head of Purchasing and Logistics at Bosch Packaging Technology.
“Jaggaer’s globally recognised expertise in spend management in the machine building industry and their in-depth knowledge of the industry’s procurement requirements and processes was a deciding factor in our decision.”
Digital Procurement Solutions
A recent study of 180 large company executives found that 85% of procurement organisations believe that digital transformation will fundamentally change the way they deliver their services over the next three to five years. The research discovered that the use of cloud-based applications such as Jaggaer is also expected to grow dramatically during the same period.
However, this isn’t the whole picture when it comes to digital transformation in procurement and other technologies such as advanced analytics, artificial intelligence, robotic process automation, mobile computing, big data, and blockchain are all expected to play a significant role in the future of the industry.
Bosch Packaging Technologies is certainly off to the right start with its Jaggaer partnership, but there’s still plenty more work to do. Brands like Bosch are ideally placed to incorporate technology such as this, simply because they produce much of it.
Incorporation of technologies designed to make procurement more streamlined and efficient will not on allow a business to become more profitable but, as is becoming increasingly important in today’s world, more sustainable as well.
“Managing a sustainability program along the value chain indeed requires a significant amount of upfront investment but with the right tools and strategies can produce an exponentially positive ROI,” said Jaggaer.
“Sustainable procurement initiatives reduce the risk and magnitude of non-compliance costs and lower spend in operational areas, such as logistics, energy, water and manufacturing. These actions also help companies avoid misconduct by suppliers, protect brand reputation and help companies recognise and avoid disruptions early.”
Digital technology has the power to make procurement more transparent, efficient, and sustainable, enabling businesses to effectively compete in the global economy. With smart partnerships such as the one between Bosch Packaging Technologies and Jaggaer, brands can get started with digital transformation in the best possible fashion.
Digital transformation is set to be a hot topic at ProcureCon Europe 2019, being held in October, in the NH Tower, Barcelona.
Don't miss out, download the agenda today for more information and insights.