Hubbler Blogs

Here is a list of blogs curated specifically for you, filtered with the following tag

Procurement Management

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An Extensive Guide to Preferred Vendors, Agreements, and What to Look for
Manaswini
January 20, 2023

A vendor who has been inspected and authorized by an organization gets referred to as a preferred vendor in that company. Here's a comprehensive guide covering what is a preferred vendor, the significance of preferred vendor contracts, and the top qualities to look for while selecting one.

Everything You Need to Know About Centralized Purchasing and its Benefits
Manaswini
January 18, 2023

Centralized purchasing is a purchasing system in which all of the branches of a company situated worldwide can make purchases through a single organization that handles all of the company's purchasing requirements. In this article know what it is and what are its benefits.

What is Invoice Approval And How To Create a Process For it?
Manaswini
January 16, 2023

Invoice approval refers to the procedure by which an organization verifies and authorizes supplier invoices for payment. Here's an extensive guide that covers several critical aspects of this process.

A Purchase Manager’s Guide To PO System for Small Businesses
Manaswini
January 4, 2023

A purchase order (PO) is a formal document between a buyer and a supplier created when an order for goods/services is being placed. Find out what other incredible benefits a PO system can offer your small business in this article.

Bills vs. Invoices: Their Meaning And Key Differences 
Manaswini
January 2, 2023

An invoice is a legal accounting document issued by a vendor to their customer, outlining the products/services provided to them by the vendor. A bill is an accounting document that reminds customers who are receiving the products/services that they have to pay a certain amount to the supplier.

Top 5 Supplier Risk Management Strategies To Implement In 2023
Manaswini
December 30, 2022

When an organization's ability to deliver products and services to its clients and customers gets threatened by challenges posed on the suppliers' end, such as a security breach or an operational breakdown, the company engages in Supplier Risk Management (SRM).

Everything You Need to Know About Purchase Orders and PO Numbers
Manaswini
December 30, 2022

A purchase order can be understood as a legally binding document for the buyer as well as the seller. The PO number, i.e., the purchase order number mentioned on each purchase order, allows both buyer and seller to identify each purchase and maintain their accounts smoothly.

Procurement Contracts: Meaning, Types, And Benefits
Manaswini
December 28, 2022

Procurement contracts are documents that legally bind the buyer and the seller. In this article, learn what it is, what it contains, what are it's different types, and what are its benefits.

Purchase Order vs. Invoices - What are the Key Differences?
Manaswini
December 22, 2022

Purchase orders are formal documents that outline the list of items a buyer intends to purchase from a vendor. Invoices are formal documents raised by a vendor toward their buyer requesting the release of payment for the goods and services rendered.

A Detailed Guide to Material Procurement
Manaswini
December 18, 2022

Material procurement refers to the steps involved in discovering, evaluating, procuring, and purchasing the raw materials required for product development or delivery of a service. In this article we find, effective tips for material procurement, along with its importance, types and definition.

A Detailed Look at Procurement KPIs
Manaswini
December 8, 2022

A procurement KPI, i.e., key performance indicator, monitors whether the activities your business is doing are sufficient to reach the goal you aimed for. Get to know the definition and types of procurement along with definition and 10 important procurement KPI's, in this article.

What Is 3-Way Matching And Why You Should Do It
Alok Suman
October 25, 2022

3-way matching is the comprehensive procedure of checking goods receipt notes, purchase orders (PO), and the vendor's invoice to limit fraud, save funds, and keep satisfactory documents for the audit trail. Learn what are its benefits, its different components, and how Hubler can help you with it.

All You Need to Know About Requisition Number
Alok Suman
September 13, 2022

The requisition number refers to a unique system-generated digit that helps procurement managers track the requested goods and services with a full audit trail. In this article, learn about purchase requisition, purchase requisition number, and purchase requisition form,

How is Supply Chain And Procurement Different From Each Other
Alok Suman
September 17, 2022

In this article, learn everything there is to know about supply chain and procurement and how are they different from each other.

Procurement vs. Purchase - A Definitive Guide
Alok Suman
September 16, 2022

Procurement and purchase may sound similar but are quite different. In this article, learn what the steps involved are, and how are they different with examples.

Purchase Order Process - Steps, Benefits, Best Practices
Alok Suman
September 15, 2022

A purchase order is the approval of an order sent by a buyer to the supplier of goods/services. Learn what the steps involved are, what are its benefits, and how Hubler can help you with this.

Direct VS Indirect Procurement - What’s The Difference
Alok Suman
September 14, 2022

Direct procurement involves purchasing products or services that are needed to produce value for customers. Indirect procurement involves purchasing services or products that are essential for day-to-day business operations but don’t exactly provide value to customers.

What Is a Procurement System And Why You Should Get One
Alok Suman
September 12, 2022

A procurement system is the automation tool/platform used by the business for purchasing and inventory management processes. Learn what are its benefits and what features to look for in a procurement system.

How is Sourcing Different From Procurement in the Supply Chain?
Alok Suman
September 6, 2022

The terms sourcing and procurement can be used interchangeably, but they are quite different. This article explains how both processes differ and the steps involved in them.

Sourcing To Pay Vs Procure To Pay - What’s The Difference
Alok Suman
September 4, 2022

Source-to-pay, commonly known as S2P, is a process that starts with finding, bargaining with, and dealing with a product supplier and finishes with receiving the final payment for those products

‍A Definitive Guide To Procurement Management
Alok Suman
September 2, 2022

Procurement management is an approach businesses use to manage, monitor, and optimize the expenses on goods and services. Learn the steps, why you need them, and why you should automate them.

Purchases Cycle - Everything You Need to Know
Alok Suman
September 1, 2022

The purchase cycle refers to the overall process of processing a purchase order from start to end. Learn what the steps are and also what are the challenges.

What is Purchase Order Cycle - Meaning, Steps, Why Automate It
Alok Suman
August 28, 2022

A purchase order cycle is a process of verifying and processing a purchase order. Learn the steps involved and why you should automate it.

Everything You Need to Know About Spot Buy
Alok Suman
August 27, 2022

Spot buy is something your company does in response to a need that arises at the moment and cannot be put off for later. Learn when spot buying happens and when it's ideal.

What Is Strategic Sourcing - Meaning, Process, Examples
Alok Suman
August 27, 2022

Strategic sourcing is a process to purchase the best possible products and services for optimal value. Learn the benefits and process involved in strategic sourcing

What is GRN - Everything You Need To Know
Alok Suman
August 26, 2022

GRN is a document that confirms the goods are delivered to the customer by the supplier. In this article, learn what a GRN is and why to use it.

How to Select the Right Vendor For Your Business
Vinay Agrawwal
July 22, 2022

Vendor selection involves a multitude of steps to identify the requirement, select a budget, and evaluate which vendor is capable of delivering those services. In this article, learn what you should look for in a vendor when selecting them.

9 Steps to Build a Robust Procurement Strategy
Vinay Agrawwal
July 21, 2022

A procurement strategy is a process of how the procurement manager handles the procurement of materials or supplies. In this article, know the steps in building a solid procurement strategy.

6 Tips For Choosing the Best Vendor Management Software
Vinay A
February 9, 2021

6 incredibly important features and capabilities to look for while shopping for your team's next Vendor Management Automation Software.

What is Vendor Management - Meaning, Role, and Challenges
Vinay Agrrawal
April 19, 2021

In this blog post, we explain what vendor management is and what a vendor management process looks like. We also talk about a key challenge that VMs face in their careers, and how they can overcome this challenge to grow into Vendor Management leaders at their company.