As the bridge between strategic sourcing and procurement, contract life cycle management is becoming a primary means for organizations process to improve standardization, contract compliance transparency in and procurement, Sourcing is strategic in every wholesale, distribution and retail company.
The major part of cost of goods sold is spent by the purchasing department. Since margins are thin there is need to optimize planned purchase orders. Purchase request and orders arise on many occasions, manually by employees or after running master planning. As purchase orders come from various sources, it is hard to keep an overview of what is expected for purchase.