Interview with Sushant Dutta, Founder 1 Vendor Platform

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  Tail Spend Management & Cost Savings in Procurement: A Comprehensive Guide for Smart, Strategic Spending In the dynamic world of business, every penny counts—especially in procurement. While big-ticket purchases may seem like the obvious focus, there’s a less glamorous area of procurement that deserves equal attention: tail spend. Often neglected, tail spend can quietly erode a budget if left unmanaged. Here, we’ll explore what tail spend is, why it matters, and how strategically managing it can not only implement cost-saving and cost-reduction strategies but also address time inefficiencies to streamline procurement operations and boost overall productivity. Let’s get into the details of building a robust, efficient procurement strategy that maximizes every Penny . First Things First: What is Tail Spend? In procurement, spending resembles a pyramid: Top : Direct spend for production essentials like raw materials. Middle : Indirect spend for non-production necessities like ut...
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What is 1Vendor Platform (1VP) ?

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Click the block     to listen about 1Vendor Platform  1Vendor Platform (1VP) , is a simplified  e-procurement platform for Industries, with a focus on  indirect and tail spends. 1VP seamlessly brings together industrial buyers and vendors on a unified digital platform, ensuring a streamlined procurement* experience through advanced technology and process innovation. Employing the drop-shipping principle, vendors on 1VP directly ship products to 1VP registered buyers through the platform with Vendors billing to 1VP and 1VP billing to buyers. This ensures a seamless transactions of buyer with all vendors with single registration of 1VP at buyer end Our digital platform guarantees a seamless procurement experience through: Facilitating transparent transactions between buyers and vendors. Offering fast and compliant quotations. Enabling an end-to-end process for Procure-to-Pay & Dispatch-to-Delivery. Facilitating faceless negotiations between buyers and ve...
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What is e-procurement ?

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E-procurement  ( electronic procurement , sometimes also known as  supplier exchange ) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning. The e-procurement value chain consists of indent management, e-Informing, e-Tendering, e-Auctioning, vendor management, catalogue management, purchase order integration, Order Status, Ship Notice, e-invoicing, e-payment, and contract management. Indent management is the workflow involved in the preparation of tenders. This part of the value chain is optional, with individual procuring departments defining their indenting process. In works procurement, administrative approval and technical sanction are obtained in electronic ...
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