February 2019 - Lumatrak

Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend

Posted on February 22, 2019June 18, 2020 by Daniel Lansky

Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend Controlling On-Time Delivery (OTD) of GNFR purchases is a major means to protect and safeguard the enterprise’s valuable capital. Late deliveries and failures to deliver can negatively impact operations and prevent the on-time completion of mission critical projects resulting in huge losses. Gaining control of On-Time Delivery to mitigate these risks is critical. What Is On-Time Delivery C...
Read More

Understanding the Difference Between P2P and On-Time Delivery Control for Indirect Spend

Posted on February 15, 2019June 18, 2020 by Daniel Lansky

Understanding the Difference Between P2P and On-Time Delivery Control for Indirect Spend P2P (Purchase-to-Pay) and On-Time Delivery Control systems are often mistaken as being identical, but in fact, they are fundamentally different. P2P is the financial processes connecting purchasing to invoice settlement whereas On-Time Delivery Control ensures the on-time delivery of purchases. Neither system competes with the other, but instead are entirely complementary. When implemented together, ...
Read More

Understanding the Benefits of P2P for Indirect Spend

Posted on February 8, 2019June 18, 2020 by Daniel Lansky

Understanding the Benefits of P2P for Indirect Spend P2P, or Purchase to Pay / Procure to Pay, is one of many industry terms referring to systems that link purchasing to accounts payable. An efficient P2P system can improve your company’s risk management, compliance, cost control and bottom line. What Is P2P? P2P refers to fully integrated business processes that covers the end-to-end activities of requesting (or requisitioning), receiving, and paying for goods and services. Procur...
Read More

Understanding On-Time Delivery’s Impact Upon Project Timelines

Posted on February 1, 2019June 18, 2020 by Daniel Lansky

Making sure everything's delivered On-Time so that each project can be completed before the deadline. Understanding On-Time Delivery’s Impact Upon Project Timelines Receiving everything you need for a given project on time is crucial to your business. A contractor will give you, his client, an estimated completion timeline that relies upon obtaining materials on time to complete the buildout. If any part of that process is flawed, the contractor’s entire deadline will change, resulting in...
Read More