How would you go about optimizing the order-to-cash and procure-to-pay workstreams within a supply chain?

Expert Solution

Optimize Order to Cash process within a supply chain.

1. Integrate Order Management with a CRM and effective ERP solution, this will enable the customer to seamlessly order with price and choice flowing into manufacturing, inventory control and procurement, accounting and shipping processes.

2. Automating bills and invoice that informs the customer and key stakeholders and third parties involved as well as allowing for proper tracking and follow up.

3. Collection management must be automated with incentivizing customer payments to ensure early and prompt payments. 1-2% discount could be offered to encourage early payment and a healthy cash flow.

4. Integration of delivery process with a robust inventory management along with keeping aware the customer about real-time info about the delivery schedule.

Optimize procure-to-pay workstream within a supply chain

A Procure to Pay workstream supplies into manufacturing of a product or into a service delivery process. It's not a core activity of the firm and resources/processes and workflow should be outsourced

1. It has mainly three steps/components viz. Purchasing, Supplier invoicing, and Payables management. A good ERP and Order Managment that offers every benefit of digitalization and hands off control over the three processes will smooth workflow.

2. Outsourcing the above three functions/steps to BPO firms specializing in the said areas will ensure cost saving, save resources and manage the inherent complexity of the P2P process for a firm that orders hundreds of components for manufacturing or service delivery.

keosha answered 1 year ago

If you were a manufacturer describe how you would go about setting the supply lead time...

If you were a manufacturer describe how you would go about setting the supply lead time penalty alpha.

Briefly describe how you would go about normalizing data

PROCURE TO PAY PROCESS Order Fulfilment Each morning Abass reviews an automatically generated Inventory Status Report...

PROCURE TO PAY PROCESS Order Fulfilment Each morning Abass reviews an automatically generated Inventory Status Report from his office terminal. He determines the items that need to be reorder and decides which suppliers from the Vendor file. Abass then creates a Purchase Order which is recorded in the Purchase Order file. The system assigns each new record a unique number (PO Number) as the primary key. Abass input into Money Talk’s P2P system the PO date, what product to be...

If you were to set-up an informational interview, how would you go about this? What would...

If you were to set-up an informational interview, how would you go about this? What would be your first step? Who would you contact and why? What questions would you ask?

Cash Management Need 1-2 pages on optimizing cash management as well as suggestions on how you...

Cash Management Need 1-2 pages on optimizing cash management as well as suggestions on how you could improve the processess of cash management.

If you were the risk manager for a company, how would you go about attempting to...

If you were the risk manager for a company, how would you go about attempting to identify all of the risks facing a business? How would you decide which risks should be insured and which should not? (typing please,thank you)

explain the pull/push processes within the supply chain

How would you go about explaining the usefulness of CVP to your organization?

How would you go about developing a vaccine for Alzheimer’s disease? What would you target? What...

How would you go about developing a vaccine for Alzheimer’s disease? What would you target? What is the evidence for this target(s)? How would the immune system attack this target? What are the normal physiological functions of the target? What are the potential complications or side effects of such a vaccine?

Explain Service Supply Chain and how would you offer services with the product to your customers....

Explain Service Supply Chain and how would you offer services with the product to your customers. Your answer must include one of these 3 product groups (not the product that your use in your team project) as example (canned food or snacks from the Philippines: organic tea or coffee from India; fresh produce from Mexico) in your answer.

Question