Category Archives: Procurement Innovation

OneMarket Continues to Power Your Procurement with Its P2P (Procure-to-Pay) Solution

As per our last post on how OneMarket Sources Your Contracts with Insights in its new Integrated Source-to-Contract Portfolio, LogicSource was founded in 2009 by experienced professionals who wanted to improve sourcing and procurement in organizations that didn’t have the knowledge, experience, and infrastructure to execute in an efficient, effective, and transparent manner. Their view was that every consultancy can offer advice, but not every consultancy can help the customer implement that advice and get results.

In order to do this, they decided to build out an end-to-end suite to support their indirect/tail-spend clients with their particular service-oriented needs. As per our last post, they launched OneMarket for Source-to-Contract in 2020, which followed the Procure-to-Pay (P2P) solution that they have had since they acquired the Cirqit P2P solution in 2009. It was updated and rebranded as OneMarket P2P since OneMarket launched in 2012 and has undergone continual development and updates through 12 versions since 2009.

The UX has been updated and is maintained to be consistent with the rest of their platform and the solution is tightly integrated with their analytics solution and supports very detailed PO, Invoice, and Spend Analysis on all transactions that go through the platform.

Buyer Side Procurement

The platform was designed to be a simple shop, buy, pay experience that supported simple quotes (bid-and-buy RFQ) for standard / repeatedly purchased products (to negate the need for a full sourcing event), single and multi-supplier catalogs, and rate cards for standard services. It’s really easy for a user to generate a requisition using each of these capabilities, as well as selecting options against approved supplier purchase orders (POs), blanket POs, and, as just mentioned, rate card POs. They support approval chains of 0 or more suppliers (where orders to approved suppliers with negotiated pricing within budget can be setup as auto-approved where there exist approved supplier, blanket, or rate card POs) which can be configured on implementation and updated on an as-needed bases by administrators.

When a Purchase Order is approved, it goes out to the supplier who can reject it (if there is no contractual requirement), request a change order, or accept it and flip it to an invoice with as few as two clicks (if they intend to ship in full), or a few key field updates of unit fields (if they are fulfilling with a partial order). Once the invoice comes in, it goes into its own approval stream of 0 or more approvals (as rules can be configured so that exact-match invoices under a dollar amount are auto-approved), and when approved for payment, the ok-to-pay is pushed to the organization’s system. In addition, if the payment system is integrated, the platform will monitor for updates and update the invoice status when the invoice is paid.

Dashboard

The entry point to the buyer’s P2P application is the Dashboard that summarizes:

  • Requests awaiting their approvals
  • Their requests in process

LogicSource understands their target market are overworked, often don’t have Procurement as their primary role, and aren’t the most advanced on the Procurement ladder, and designed the entire application to be as simple and straightforward for the average buyer as possible, and make sure every screen takes them directly to what they want or need to do.

Menus

The buyer application has four primary options:

  • Create: which allows a user to create bid-and-buy projects, request estimates, create purchase orders (from existing approved supplier, blanket, or rate card POs), or enter a non-PO invoice that was received
  • Transactions: which allows a user to access their estimates, orders, invoices, reviews, and projects
  • Catalog: that allows the user to access their catalog(s) (which can be integrated or held separate), and which can be drilled into by organization (which limits the items that need to be searched and ensures the services and items that are found are those that have been approved)
  • Analytics: that takes the buyer to the analytics application

Catalogs

Catalogs are hosted and work exactly as you would expect, with standard search, filter, and one-click select, but the level of item detail is deeper than you expect, and the ability to manage internal inventory, supplier commitments, volume-based pricing, and order minimums or maximums goes well beyond a standard P2P catalog. (Punch-out catalogs are coming, but the plan is to support hybrid or internal hosting as much as possible as their application supports more information and capability than punch-out catalogs.)

Search is by item id or description, and can be quick-filtered by category, supplier, status, keyword(s), and organization (which provide cross-catalog subsets relative to the different buyers and departments in the company). When a user selects a catalog, all they have to do is specify an order quantity to add it to a requisition.

When it comes to catalog item details, which can be seen upon drill in and maintained by the organizational administrator(s) as needed, the catalog will specify the internal item code, version, description, category (and subcategory), target organization, location types supported, keywords, whether or not the supplier is preferred, supplier part id, manufacturer item number, brand, more detailed description, inventory Unit of Measure, Quantity per Unit of Measure (i.e. there might be 50 gloves in a box), organizational item status, activation date, deactivated date if inactive, standard order quantity suggestion, organizational product owner, inventory manager, primary buyer, barcode, and any additional comments. In addition, the cost allocation can be pre-specified in the catalog item so the buyer doesn’t have to deal with it (and select the wrong/default “other” category all the time, which, of course, screws up analytics). Finally, if there is volume pricing or order limitations from the supplier, these can be defined as well as any commitments the supplier has made to item availability at the price points. (Supplier commitments are important as ordering against these can automate requisition approval as pricing and availability have already been confirmed and accepted by the organization.)

When the buyer is done shopping, they can create the requisition which will either be automatically approved and converted into one purchase order per supplier (if there are existing approved supplier or blanket POs and budget is available), or sent off for approval (and the approver will be notified through email and can approve through the email or through the system, as they will also see the request for approval on their dashboard), and then, once approved by the appropriate individuals, there will be one purchase order created per supplier.

Each purchase order will have an auto-generated purchase order number as well as the corresponding order id, order name, requester, contact, and deliver by date automatically extracted from the requisition. It will contain the full item information for each item: id, description, UOM, (agreed upon) catalog price, quantity, line item total, subtotal, tax, order total, (default) shipping information, and any associated digital specification documents. All of this can be updated by the buyer (on an auto-approved PO) or the approver if necessary before the PO is sent to the supplier. Internally (i.e. not shared with the supplier), the Purchase Order will also maintain the cost allocation from the catalog for processing and any associated messages that have been sent between the buyer and supplier.

Bid-And-Buy / Requests for Estimate

A buyer can request a(n updated) quote on one or more existing catalog items or variations with new, detailed, specifications (especially if the catalog item is a placeholder for products that can have multiple configurations or services). Specifications can be extremely detailed and can be configured to go well beyond standard catalog specifications and can have subsections for each type of specification required. For example, for a mailer (for those who still do print campaigns), you can specify the high level project description (header), specific project details (component information), the paper attributes, the artwork details, the prepress details, each individual component (i.e. envelope, mailer, artwork, etc.) that can be drilled into, associated digital files, shipping information, estimate specifications (type:RFQ/Sealed Bid/Auction, due date, expiration date, commitments, etc.), capabilities required, and selected suppliers.

Once the suppliers have responded, the buyer can click into the estimate and see all of the bids by component by supplier with the lowest bid highlighted and preselected. The buyer can select the award as is, or change the award by component, and when the buyer is happy, select it and the requisitions and/or purchase orders (depending on what suppliers were selected, the total cost, existing purchase orders, and approval rules) are automatically created (and, if auto-approved, distributed).

Supplier Side Procurement

The platform is designed to be super easy for suppliers to respond to bid-and-buy requests and orders.

Dashboard

The entry point to the supplier’s P2P application is the Dashboard that summarizes:

  • Bid-and-Buy Estimate Requests awaiting their response
  • Orders
  • Recently Completed Estimates

If you think about how a supplier generally interacts with a buyer platform, it’s to provide quotes, fulfill orders, submit invoices, and request status. The dashboard captures most of this (as the supplier can flip an order to an invoice once they have fulfilled it), and it’s a single click into one of the three main main drop-downs to bring up the invoice (status) screen (although SI feels it would be really useful to have a quick summary of unapproved invoices so a supplier who can’t figure out a menu doesn’t call the buyer asking for a status they can look up themselves).

Menus

The supplier application menu has three primary options:

  • Dashboard: that we just discussed above
  • Create: where they can create change requests and invoices
  • Transactions: where they can access their requests, estimates, orders and invoices

Orders

When a supplier clicks into an order, they see all of the header, client, shipping and line-item information right up front. From here they can accept the order as is and flip it to an invoice, altering the unit quantities to those they can deliver now if they want to, message the buyer for more information, or make a change request, which will be returned as an associated change order if approved by the buyer.

Clicking the ‘Create Invoice’ button takes them to the invoice screen where they can provide more details or alter other information as required (or desired, but changing prices, terms, or delivery dates will prevent a PO match and could delay the buyer’s processing of the invoice). When they are ready, they either accept the PDF generated by the system (as an unalterable historical record) or upload their own (from their AP system), and then it’s one click to submit the invoice (both the application and PDF version) to the buyer.

Centralized Procurement

A lot of LogicSource‘s customers are operations with multiple locations, including brands that own retail chains. These customers need a solution that can help them keep track of spend across their locations, help their locations buy, but do so with corporate policies in place and supplier/distributor minimums in check. The OneMarket solution contains a simplified configuration just for location managers who only need to make orders and manage orders and invoices.

When a location manager logs in, they see a dashboard that summarizes their orders: incomplete, pending receipt – action required, and open; and a search bar where they can begin a search and start a new order. Search brings up all matching results, where they can select a preferred item, enter the quantity they want, and add it to the cart. They can continue until they have everything in the cart, and then go to the cart screen where it groups the items by supplier, shows subtotals by supplier, and indicates, with red highlight, if there are any sub-orders that don’t meet order minimums (or violate any other rules for the supplier). They can then increase the quantity, add more items, or delete all items from that supplier until the entire order meets business rules. When they are happy, it’s one click to check-out and the orders are distributed to the suppliers (as no approvals are needed since their catalogs are limited to pre-approved suppliers and products with commitments and approved prices).

Procurement Analytics

The analytics solution we discussed in our last article on how OneMarket Sources Your Contracts with Insights is also integrated with the P2P solution and, since the data that flows through OneMarket is automatically categorized and clean, OneMarket can pre-configure a lot of meaningful and detailed reports out of the box. These can include change orders, client operations, missed opportunity, order activity, order detail, supplier order, tracking list, inventory, and retail reports in addition to all of the reports described in our last article. Retail reports can include billing status, capital project analysis, commitment status, project costs, freight detail, historical shipment analysis, order history, pre-paid allocation, and tax reports, among others. The existence of detailed PO, invoice, and line-item data allows for very deep analysis on spend and P2P process time. Spend, supplier spend, supplier rating, invoice throughput, and supply chain analysis are preconfigured on all available data and the out-of-the-box cubes are detailed and deep.

LogicSource‘s OneMarket is a great P2P solution for organizations that do a lot of indirect Procurement and need a simple, service-supported, solution or a solution that can be rolled out to multiple locations with limited Procurement expertise and capability. It’s definitely worth checking out if you are that kind of (mid-market) organization.

The Sourcing Innovation Source-to-Pay+ Mega Map!

Now slightly less useless than every other logo map that clogs your feeds!

1. Every vendor verified to still be operating as of 4 days ago!
Compare that to the maps that often have vendors / solutions that haven’t been in business / operating as a standalone entity in months on the day of release! (Or “best-of” lists that sometimes have vendors that haven’t existed in 4 years! the doctor has seen both — this year!)

2. Every vendor logo is clickable!
the doctor doesn’t know about you, but he finds it incredibly useless when all you get is a strange symbol with no explanation or a font so small that you would need an electron microscope to read it. So, to fix that, every logo is clickable so you can go to the site and at least figure out who the vendor is.

3. Every vendor is mapped to the closest standard category/categories!
Furthermore, every category has the standard definitions used by Sourcing Innovation and Spend Matters!
the doctor can’t make sense of random categories like “specialists” or “collaborative” or “innovative“, despises when maps follow this new age analyst/consultancy award trend and give you labels you just can’t use, and gets red in the face when two very distinct categories (like e-Sourcing and Marketplaces or Expenses and AP are merged into one). Now, the doctor will also readily admit that this means that not all vendors in a category are necessarily comparable on an apples-to-apples basis, but that was never the case anyway as most solutions in a category break down into subcategories and, for example, in Supplier Management (SXM) alone, you have a CORNED QUIP mash of solutions that could be focused on just a small subset of the (at least) ten different (primary) capabilities. (See the link on the sidebar that takes you to a post that indexes 90+ Supplier Management vendors across 10 key capabilities.)

Secure Download the PDF!  (or, use HTTP) [HTML]
(5.3M; Note that the Free Adobe Reader might choke on it; Preview on Mac or a Pro PDF application on Windows will work just fine)

You Need a Plan to Mitigate Supply Chain Risks. But You Also Need a Platform.

A recent article over on Supply & Demand Chain Executive on Navigating a Supply Chain Management Toolkit noted that with a plan in place, organizations can quickly respond to any changes and help mitigate any supply chain risks.

Which is true, but how much of the risk they can mitigate is the question.

The article, which is very good and definitely worth reading (so check out the link), noted that problems arose as a result of COVID and disruptions since because many organizations use just-in-time inventory management (which we’ve already noted should have ended by now along with seasonality). The article also noted that the problems were often exacerbated by the fact that order processes were often not documented effectively and, in general, most organizations don’t spend the time and resources to really manage their supply chain. All of this is correct, as is the observation that these challenges can be alleviated with wholly embracing the tried-and-true methods for effective supply chain management because effective processes, measurements and accountability are … key to a supply chain that works for an organization.

But, on their own, not the key. Today, you also need a platform that enables the organization to:

  • quickly detect a risk event has occurred
  • quickly analyze the impact
  • quickly initiate any pre-defined mitigation plan
  • quickly implement new decisions and processes where the mitigation plan isn’t sufficient and doesn’t exist
  • monitor the impact of the risk event and the response in near real time

Otherwise, your process could be too slow, your measurements inaccessible and/or unrecorded, and your accountability (under audit) non existent.

For example, the article indicates you should start by getting a better grip on inventory management (which is correct, no product, no business for most companies), and that involves a self-assessment, forecast accuracy review, and inventory segmentation. All correct. But that doesn’t help you when all of a sudden there’s a fire in the factory, a strike at the port, or a strait/border closing. What do you do then?

It also tells you that you should focus on better supplier relations, which is also extremely important, and focus on vetting suppliers before you onboard them and then measuring them and computing the total cost of ownership of keeping them, which is also very important as suppliers should improve over time and costs should not inch up faster than inflation. It also mentions the importance of proper strategic sourcing (matrices) to get the right products from the right suppliers. Another definite. But fails to tell you what you do when all of a sudden a key supplier can’t deliver or becomes unavailable.

The answer here is you use all of your good relationships and data to immediately identify the next best supplier. If you were splitting award, you try to shift to the other supplier (if they can handle the volume — if you were doing an 80/20 split and the 80% supplier suddenly became unavailable indefinitely, the 20% might not be able to support you, or at least not for very long, and you will have to add a new supplier to the mix. If you were doing proper sourcing, and proper supplier vetting before including them in an event, then you already have potential suppliers — the runners up from your last event. A good platform will let you immediately identify them and immediately start another sourcing event to onboard a new supplier as fast as possible.

If you have a good logistics (sourcing) platform, and your primary carrier / route becomes unavailable, you may be able to identify another carrier / route that will get you the products on time, or at least be able to accelerate an order from a secondary source of supply while you wait for the first source through a lengthier route.

The point is, while you need great processes, measurements (to indicate if something is taking too long, such as an order acknowledgement or a delivery, which can be a sign of a potential risk event materializing), and accountability (to show you made efforts to detect and mitigate risks in a reasonable time frame), you can’t measure, execute processes, or provide unquestionable audit trails of accountability without a proper platform. Never forget that. (And for help, you can see our Source-to-Pay series which helps you to identify where to start with your acquisitions and what vendors you might need to look at.)

And again, remember to read the article on Navigating a Supply Chain Management Toolkit as it will help you understand the basic processes you need to put in place.

SaaS Procurement for S2P+ Goes Beyond Basic Buying Etiquette for IT Procurement

Medium recently posted an article from ArmourZero, a cyber-security platform provider*, on IT Procurement Etiquette for User and Vendor, which I guess goes to show the lack of knowledge on how to buy among some organizations. It doesn’t go nearly far enough on what S2P buyers need to know, but it does provide basics we can build on.

The advice it provides for a user are:

  1. Do Your Homework (Create a Proper SoW): take the time to provide a proper Scope of Work (and don’t just take a vendor’s sample SoW, edit it slightly, and send it out, especially to the vendor you took it from)
  2. Professional: be neutral and don’t favour any specific vendor
  3. Transparent: be clear about the process, and if all bids exceed the budget and a reduced bid is required, be clear about the reason for going back and any modifications to the SoW to allow vendors to be within a budget range
  4. Fair: stick to the rules; not even incumbents get to submit late; if you have a minimum number of bids in by the deadline, you work with those; you weight on the same scales; etc.
  5. No Personal Interest: don’t accept gifts; don’t vote on the bid where you have a relationship; etc.

However, in our space, you have to start with:

  • Do Your Tech Market Research: make sure you understand the different types of solutions in the market, what the baselines are, and what the standard terminology is (sourcing != procurement)
  • Do Your Deep Dive Tech Market Research: once you figure out the major area, figure out the right sub area — a Strategic Sourcing Solution is not a Strategic Sourcing Solution is not a Strategic Sourcing Solution; a CLM (Contract Lifecycle Management) is not a CLM is not a CLM; and an SXM is definitely not an SXM which is definitely not an SXM; in the case of Strategic Sourcing, do you mean RFX? e-Auction? or optimization-backed sourcing? in the case of CLM, do you mean Negotiation, Analysis, or Governance? in the third case, which element(s) of the CORNED QUIP mash are you looking for: compliance? orchestration? relationship? network? enablement? discovery? quality? uncertainty? information? performance? No vendor does more than half of these, and those vendors will only do a couple of areas really deep and more-or-less fake the rest!
  • Write a Process and Results Oriented RFP (& SoW): it’s not features or functions (beyond the foundational functions all applications in the class need to support) it’s the processes you need to support, the systems you need to integrate with, and the results you need to get — let the vendors describe how they will solve them, not just check meaningless yes/no boxes … they might have a more efficient way to support your process, a faster way to get results, etc.; the same goes for any implementations, integrations, services, etc. — make sure it focusses on what you need to accomplish, not meaningless check-the-box exercises
  • Do Your Due Diligence Vendor Research: once you have figured out the solutions you need and the primary capabilities you are looking for, make sure the vendors you invite not only offer the type of solution, but have (most of) the foundations of the capabilities you are looking for; use analyst firms, maps, tech matches, and expert analyst consultants to build your short-list of mandarin to tangerine to orange vendors vs random google searches that, if you are lucky, will give you apples to oranges, and if you are not, will give you rutabagas to oranges to tofu vendor matches

Then apply the rest of the advice in the linked article by ArmourZero.

You’ll have better success in your RFP, negotiations, and your implementation if you do all of your homework first, even though it is a lot more extensive than you want it to be. (But remember, there are expert analyst consultants who can help you. No one says you can’t hire an expert tutor! And the reality is that you should spend five figures before making a six to seven figure investment (as there will be implementation, integration, and support costs on top of that six-plus license fee), and maybe even do a six-figure deep dive process and technical maturity assessment, market scan, and custom RFP/SoW generation project with an expert analyst consultant before signing a recurring [high] seven figure suite deal.

* A CyberSecurity firm is the last vendor you’d expect to be authoring such a post (given the massive increase in CyberAttacks since 2019), but I guess it shows just how bad buying can be if they felt the need to write on this vs. a SaaS Management Vendor

Keep Your Procurement On PACA with FSMA with Procurant!

We don’t cover specialist Procurement providers much here on SI because many don’t have much in the way of domain specific product functionality (and differ primarily on domain knowledge, terminology customization, and service offerings), but some, like Procurant, go beyond the basics and offer domain specific functionality of relevance that the market needs to take note of. Especially when such functionality can help an organization be compliant with current and, most importantly, incoming regulations they are not ready for.

Procurant, marketing itself as a strategic platform for perishables that does Procurement AND Food Safety, offers the following core functionality:

  • P2P (Procure to Pay) for Perishables
  • Inspections (recording and auditing)
  • Traceabillity that is mobile-enabled and FSMA 204 compliant
  • Market Intelligence
  • Food Safety (workflow and remote sensor integration) (not covered in this article)

It’s the one-stop solution for retail grocers, especially those with US operations, that need to manage their perishable supply chain in a manner that is both PACA and FSMA compliant. (And if you’re a grocery retailer that does NOT know what those acronyms stand for … Uh-Oh! Better find out and give Procurant a call ASAP — because failure to comply can not only result in fines but [supply chain] shutdowns.)

Procurement/Procure-to-Pay wise there isn’t much that’s unique in core functionality (as the uniqueness is with the integrated support for the perishable space), but it’s all there, and we’ll start with the core so you can be confident the core is on par with other best-of-breed Procurement solutions.

With respect to quote management, the platform contains integrated RFQ / price request that makes it really easy to not only request (updated) quotes from suppliers, but get a commitment on that price (for a certain time or volume; i.e. one week or 100 pallets). When you get a commitment, the system tracks orders against that commitment, and then lets you know when the quote has expired because the commitment has been used up (and if you still need more product, you need a new quote with a new commitment).

With respect to order management, the solution makes it easy to select products for orders from the built-in catalog, from order templates (guides), or from demand forecasts (which can pulled in from the forecasting/demand management system OR created natively in Procurant using weighted average outbound for the last 12 weeks, with more forecasting algorithms coming in a future release). The platform even supports the definition of automatic (replenishment) orders, should the organization choose that functionality. Once the order is assembled, it’s very easy to send it to the supplier for fulfillment.

Moreover, as Procurant ‘s P2P also contains integrated support for carriers and logistics (due to the need to monitor the entire produce supply chain and ensure food safety every step of the way), in Procurant, you can also assemble orders by truckload, as you don’t want to be under-shipping if not absolutely necessary (as it takes the same amount of energy to maintain the temperature when refrigeration is necessary whether the truck is almost full or almost empty) and it’s easier to trace when you decide who is shipping what, when, and on which truck. One great feature of the platform is that it’s super easy to assemble an order for a carrier. It’s just a matter of dragging and dropping order line items until the platform notifies you that the last line won’t fit in the truck (as you can encode a max # pallets, weight, and volume by truck and as soon as one limit is reached, the platform lets you know). No complex training on a sophisticated TMS required.

As a result of this deep support for logistics and carriers, purchase orders can be incredibly detailed and include shipping dates, carrier, load reference number(s), and even cross docks.

Also, order management is multi-state and the system will track and notify if there is an:

  • order modification by the buyer
  • order modification by the supplier
  • order cancellation by the supplier
  • order reconciliation by the supplier (on being notified the goods received didn’t match the PO)

and all changes by any party are maintained in a secure, unalterable, audit log.

With regards to order management, the buyers can choose whether or not the supplier can split orders, remove items, or add substitute orders. Whether or not they can change prices (or just quantities to match availability), and even when modifications will be accepted. Similarly, the administrator can determine the order creation capability the buyers have access to … whether or not they have (to use) guides, whether they can create cross-dock orders, etc.

With respect to invoice management, it’s super easy for a supplier to flip a PO to an invoice. All they have to do is enter the actual quantity shipped by line item and submit. The invoice then goes into a wait state until a receipt is entered, at which point if there is a discrepancy, the invoice is sent back to the supplier for correction before it goes into the normal processing queue, where it would be held up until the discrepancy was resolved, which could delay payment considerably if the organization has long approval chains for corrections and exception processing.

The platform also tracks supplier fill rates, so you can quickly see which suppliers are fulfilling the POs they accept and living up to your expectations and which suppliers are not. It also has price watch capability, and can alert you whenever PO or quote prices exceed current (or historical) prices by a certain percentage.

And, of course, there’s a dashboard which summarizes current tasks and open orders and great search and filter functionality to find just the orders, invoices, or quotes you are looking for.

The platform also integrates the inspection reports from their inspection app and, for any fulfilled order, you can quickly bring up the full report that summarizes the inspection (packaging, appearance, condition, flavor, and quality) on each item delivered as well as the number of items rejected. Also integrated with the Procurement platform is the Inspection Module that contains the overall inspection summary dashboard, dill downs by supplier, scorecards by supplier, and other key reports and data points on inspections. The inspect application is a mobile app that workers can use at the warehouse on or the dock to inspect the quality of goods as they come in and, if necessary, reject them on the spot.

What’s really cool is the Track and Trace capability where, for any item, you can see the entire journey from the source lot to the warehouse or the store shelf, as appropriate. You just need a GTIN, lot number, order number, SKU, or product description and, optionally, a date range and you see the store shipments, receivings at your warehouses, vendor shipments, and base lots. And you can click into each store shipment, receiving, vendor shipment, or lot and see complete details (such as the ship to, date, and receiver for a store shipment; order #, sales order, Lot, shipper, shipment date, and cases for a vendor shipment; etc.). And with their next release, the (default) output report formats will be usable for FSMA compliance. (Again, if you do grocery retail and you don’t know why this is critical, you better find out soon!)

Finally, their Market Intelligence Capability in Procurant Connect provides Commodity Pricing, Weather, and Transportation analytics and tracking. The commodity pricing tracks price movements across all commodities by region; the weather pane integrates forecasts down to the county level; and the transportation analytics tracks average load fees by lane (defined by city pairings), as well as price changes and shipper / transportation availability (surplus, slight surplus, adequate, slight shortage, or shortage).

Procurant can integrate with your ERP and AP (payment) system, your TMS (or onboard carriers natively, which is something not many P2P systems can do as carrier management is critical in perishable supply chain management), and your supplier master (for supplier onboarding) if it’s not your ERP.

All-in all, Procurant is a fantastic solution for the perishable supply chain procurement and one that absolutely has to be on the short list of any grocery retailer that needs to get a handle on their perishable supply chain in a manner that will allow them to be fully PACA and FSMA compliant.