Operational Efficiency Operational efficiency, Procurement and finance are separate functions within an organization, each with its own distinct objectives and responsibilities. While it is common for procurement and finance departments to collaborate closely, there are valid reasons why procurement should not directly report to finance. Here are a few key points: 1. Independence and… Read More »
Procurement report Procurement report is typically reports to the following departments or positions within an organization: 1. Supply Chain Management: In many organizations, procurement is a part of the broader supply chain management function. Procurement teams collaborate closely with supply chain management teams to ensure the timely and cost-effective sourcing, purchasing, and delivery of… Read More »
Importance of Turnover Importance of Turnover in business for several reasons: 1. Financial Performance: Turnover provides a measure of a company’s revenue generation and financial performance. It indicates the amount of money flowing into the business from sales of goods or services. High turnover generally suggests healthy financial performance, while low turnover may indicate… Read More »