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Added value is the enhancement a company gives its product or service before offering it to consumers. It represents the extra features or benefits that make the offering more attractive and provide consumers with a reason to choose it over similar options available.
Key Benefits
-Cost Savings: Achieves significant reductions in procurement expenditures by leveraging AI technologies to negotiate better terms, optimize supplier selection, and manage spend effectively.
-Efficiency Gains: Streamlines and automates procurement processes to significantly cut down cycle times and manual efforts, allowing procurement teams to focus on strategic activities.
-Enhanced Risk Management: Incorporates predictive analytics to mitigate risks associated with supply chains and supplier reliability, ensuring continuity and compliance.
-Strategic Decision Support: Provides real-time data and insights to aid in strategic decision-making, turning procurement into a strategic value driver for the organization.
-Comprehensive Compliance: Ensures adherence to organizational policies and international regulations through automated compliance checks, reducing the risk of non-compliance and associated penalties.
Related Terms
-Cost Savings: Achieves significant reductions in procurement expenditures by leveraging AI technologies to negotiate better terms, optimize supplier selection, and manage spend effectively.
-Efficiency Gains: Streamlines and automates procurement processes to significantly cut down cycle times and manual efforts, allowing procurement teams to focus on strategic activities.
-Enhanced Risk Management: Incorporates predictive analytics to mitigate risks associated with supply chains and supplier reliability, ensuring continuity and compliance.
-Strategic Decision Support: Provides real-time data and insights to aid in strategic decision-making, turning procurement into a strategic value driver for the organization.
-Comprehensive Compliance: Ensures adherence to organizational policies and international regulations through automated compliance checks, reducing the risk of non-compliance and associated penalties.
References
Here are 3 Zycus resources related to Added Value:
White Papers
Master the UK Procurement Act 2023: Ensure Compliance & Drive Procurement Excellence
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