A procurement catalog is a document that provides information on services and/or product offered by a vendor or service provider. The primary elements in a catalog include product or service name, descriptions, hierarchy, prices and internal codes. Online forms of catalogs are called e-catalogs and these usually support online order placements and payments.
Depending on the type of setup an organization has, catalogs are either updated manually or automatically.
These catalogs have to be updated manually and if often a cumbersome, time-consuming process involving a lot resources.
These are ones an enterprise needs to keep up with the challenges of complex procurement organizations and supply chains.
However, organizations can choose to have a mix of both, depending on the product spread and needs.
Irrespective of the type, procurement catalogs are critical to the purchasing process so that the best or ultimate value can be realized in terms of realized savings — which implies that a catalog is more than just a running list of items available for purchase.
Practically speaking, when buyers want an item, the first and foremost concern is to locate the item in the list — and this is not a strategic cost-saving concern, but a critical one implying if an item cannot be found easily, it might not even be there.
Often an interface that is similar to consumer eCommerce portals are the ones most intuitive for all practical purposes.
Check out GEP’s procurement catalog management software.
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE is a uniﬁed and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artiﬁcial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.