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Quantitative Analysis of the Cost-Saving Potential of Procurement Automation Tools in Large-Scale Manufacturing

Author(s) Haroon Rashid
Country United States
Abstract The cost-saving potential of procurement automation tools in large-scale manufacturing, emphasizing their impact on labor costs, processing time, and error reduction. By streamlining procurement processes, automation tools minimize manual intervention, accelerate order processing, and enhance data accuracy. Quantitative analysis reveals significant reductions in operational costs through decreased labor requirements, improved procurement cycle efficiency, and reduced expenses associated with order errors and delays. The findings demonstrate how automation fosters greater supply chain resilience, enabling manufacturing organizations to allocate resources more effectively and achieve sustainable operational excellence. This research underscores the transformative role of procurement automation in optimizing financial performance while maintaining high standards of quality and efficiency.
Keywords Procurement automation, cost-saving potential, large-scale manufacturing, labor cost reduction, processing time efficiency, error reduction, supply chain optimization, operational excellence.
Field Business Administration
Published In Volume 4, Issue 12, December 2023
Published On 2023-12-05
Cite This Quantitative Analysis of the Cost-Saving Potential of Procurement Automation Tools in Large-Scale Manufacturing - Haroon Rashid - IJLRP Volume 4, Issue 12, December 2023. DOI 10.5281/zenodo.14769517
DOI https://doi.org/10.5281/zenodo.14769517
Short DOI https://doi.org/g83ktq
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