Failing to integrate manufacturing procurement software into your system could have dire consequences. In recent years, several cases have highlighted the negative effects of manual procurement on the Malaysian public sector, such as inefficiencies, corruption, and financial losses.
A study on procurement portfolio management found that the use of an electronic procurement system has been proven to provide a high rate of return on investment (ROI), but it is only suitable if many suppliers are capable of supplying the required items.
This article provides a comprehensive examination of the leading manufacturing procurement software solutions driving the Malaysian market. This article will help you select procurement software that addresses your current needs while also aligning with your business objectives over the long haul.
Key Takeaways
|
Table of Content
Content Lists
What is Manufacturing Procurement Software
Manufacturing procurement software is a digital solution that enables manufacturers to manage and automate the acquisition of raw materials, components, and services necessary for production. It simplifies the entire procurement process—from recognizing supply needs and identifying suppliers to generating purchase orders, monitoring inventory levels, and ensuring swift delivery of goods.
By integrating ERP manufacturing systems with other business divisions, it could guarantee that procurement is in synchronisation with production schedules and demand forecasts. Additionally, it helps manufacturers manage expenditures, monitor financial outlays, assess vendor effectiveness, and comply with sector-specific guidelines.
Why is it Important for Malaysian Companies to Use Manufacturing Procurement Software?
In the dynamic business environment of Malaysia, manufacturing procurement software is essential for companies looking to minimize procurement risk. It streamlines procedures such as order tracking, inventory management, and purchasing, leading to improved operational efficiency and cost-effectiveness.
Automation helps minimize human errors, reduce paperwork, and ensure compliance with industry standards. In its absence, companies face the risk of manual tasks consuming time, resulting in incorrect orders, delayed deliveries, and ultimately, revenue losses.
With a centralized system, it becomes easier to monitor expenditures and acquire more advantageous arrangements, resulting in averting the loss of potential savings. In the context of a global economy, businesses must react rapidly to market changes and supply chain disruptions—this is not something that manual processes can manage effectively.
12 Best Manufacturing Procurement Software for Your Business
We offer a carefully curated list of the best manufacturing procurement tools in Malaysia, designed to enhance the efficiency of manufacturing procurement. All software can fulfill the high requirements for functionality, user experience, and support that Malaysian businesses need.
1. HashMicro Manufacturing Procurement Software
HashMicro Manufacturing Procurement goes beyond ordinary software; it is an all-encompassing ecosystem designed to improve procurement processes. HashMicro represents innovation in the procurement software industry, offering more than 40 integrated solutions.
With more than 2,000 clients, businesses in Malaysia can trust HashMicro for a manufacturing procurement solution that meets their existing needs and scales with their growth. Below are listed our key features, which you can experience by trying our free demo now.
Key features:
- Landed cost calculation: This scheme determines the overall cost of bought items, factoring in taxes, shipping fees, insurance, and currency conversion, offering a clear financial overview.
- Manufacturing production scheduling: The HashMicro software enables businesses to organise production timetables according to demand forecasts gathered from historical demand.
- Manufacturing requisition planning: ensures the availability of necessary resources and raw materials, enhances production processes through improved planning, and mitigates the risk of production interruptions and raw material shortages.
- Multi-level Bill of Materials (BOM): This position assists in creating and overseeing multi-level BOMS, which enable precise tracking and management of components and assemblies.
- PR approval management: This tool streamlines the acceptance or rejection of purchase requests from various business locations, departments, or employees with a single click, thereby reducing unauthorised purchases.
| Pros | Cons |
|---|---|
|
|
HashMicro Manufacturing Procurement is a complete solution for maximising operational efficiency. Click the banner below to learn about the software’s pricing structure.
2. GEP Smart
GEP Smart streamlines manufacturing procurement processes with a single platform that encompasses the entire procurement lifecycle. This purchasing system simplifies the transition from contracts that are about to expire to new sourcing events, from sourcing awards to draft contracts or new orders, and from contracts to new catalogs or orders.
Key features:
- Cloud delivery model
- Integration capabilities operations.
- User-friendly interface
| Pros | Cons |
|---|---|
|
|
3. Coupa BSM
The BSM platform from Coupa provides comprehensive processes that facilitate collaboration among various business leaders, including those in supply chain management software, manufacturing procurement, finance, treasury, compliance, and IT. Its goal is to provide companies with the control and visibility they require to manage their spending.
Key features:
- Unified spend management
- Requests and approvals
- Vendor management
| Pros | Cons |
|---|---|
|
|
4. Ecount
Ecount is a cloud-based ERP solution offering a range of features for managing various aspects of a business, including manufacturing, procurement, accounting, inventory management, sales, and payroll. Its purpose is to provide a thorough collection of tools that can streamline operations, enhance efficiency, and lower costs.
Key features:
- All-in-one ERP
- Real-time data
- Customisable reports
| Pros | Cons |
|---|---|
|
|
5. Tipalti
Tipalti offers a comprehensive solution that automates the entire payables cycle, including manufacturing procurement, supplier onboarding, invoice processing, outbound payments, and reconciliation. It is designed to reduce manual workload, making it a highly effective option for handling global payments to suppliers, affiliates, freelancers, and partners.
Key features:
- Global payments
- Supplier management
- Invoice automation
| Pros | Cons |
|---|---|
|
|
6. Precoro
With its intuitive interface and robust features, Precoro streamlines the manufacturing procurement process. With just a few clicks, it enables the creation, approval, and tracking of purchase orders. The platform centralizes the management of suppliers, item catalogs, inventory, and various other components.
Key features:
- Customizable workflows
- Real-time budget tracking
- Centralized supplier management
| Pros | Cons |
|---|---|
|
|
7. Jaggaer One
JAGGAER offers a well-established cloud-based, integrated platform for manufacturing procurement, capable of handling the entire procurement lifecycle. Its scalable and customizable platform makes it especially popular in government and higher education.
Key features:
- Scalable platform
- Supplier management
- Contract management
| Pros | Cons |
|---|---|
|
|
8. Syspro
Syspro is a classification of enterprise resource planning (ERP) software designed to offer solutions for manufacturers and distributors. It provides various functions, including procurement, inventory oversight, sales order processing, and financial administration.
Key features:
- Industry-specific solutions
- AI and IoT integrations
- Hybrid deployment
| Pros | Cons |
|---|---|
|
|
9. SAP Ariba
With SAP Ariba, users can access a cloud-based procurement platform enabling direct and indirect manufacturing procurement, e-commerce activities, and supplier collaboration. It is designed to operate seamlessly with the Ariba Network.
Key features:
- Global supplier network
- E-sourcing and catalog capabilities
- Automated invoice management
| Pros | Cons |
|---|---|
|
|
10. Procurify
The objective of Procurify is to simplify and streamline the purchasing process. This visually attractive manufacturing procurement software is user-friendly for all team members, enabling finance and operations departments to reduce process corrections and invoice chasing.
Key features:
- Real-time budget tracking
- Custom user control
- Electronic purchase order approval
| Pros | Cons |
|---|---|
|
|
11. ADAM
ADAM is a cloud-based manufacturing procurement system that enhances daily business operations, boosting sales and revenue. It is equipped with a built-in collection of tools that simplify inventory arrangement, customer and contact management, financial matters, and accounting processes, thereby enhancing productivity and profits.
Key features:
- Inventory management
- Sales order processing
- Financial management
| Pros | Cons |
|---|---|
|
|
12. Team Procure
Team Procure offers a thorough range of tools designed to simplify the manufacturing procurement process, including everything from request management to warehouse inventory oversight. It enables the creation of customized reports based on department, project, or category, supporting informed decisions driven by data.
Key features:
- Request management
- Procurement management
- Inventory management module
| Pros | Cons |
|---|---|
|
|
Tips for Choosing Manufacturing Procurement Software
Deciding on procurement software for manufacturing businesses in Malaysia requires considering several key factors and variables to ensure the software is tailored to the company’s specific needs and capable of enhancing its operations. Here are some factors to consider on choosing the right software:
- Supplier management: With a centralized supplier database and built-in communication tools, you will have access to quote requests, updates, and rate supplier qualification, scoring, and audit capabilities.
- Inventory integration: By integrating inventory with other systems, you can track stock levels, lead times, and production schedules to help automate reorder points and ensure accurate demand planning.
- User-friendly interface: This factor can simplify your business operations by providing mobile access for approvals, on-the-go tracking, and role-based access for various departments, such as procurement and finance.
- Scalability and customization: It’s important to have software that supports Customizable fields, templates, and workflows for multi-site, multi-currency, and multi-language environments.
- Cost control: Consider the total cost of ownership, which includes implementation and maintenance, and ensure the software offers long-term cost savings.
Conclusion
Selecting software that meets current requirements and can adapt to future challenges is crucial. HashMicro’s manufacturing procurement software in Malaysia stands out as a leading option, delivering exceptional efficiency and ease of use.
We recognize the importance of making informed decisions, especially when it comes to the operational foundation of your business. For this reason, we encourage you to explore the potential of HashMicro’s procurement software through a free demo and see how HashMicro can help elevate your business operation.
FAQ About Manufacturing Procurement Software
-
What are the four types of procurement?
There are four types of procurement in supply chain management: direct procurement, indirect procurement, goods procurement, and services procurement. Goods and services procurement can be either direct or indirect, and both types of procurement encompass the procurement of goods and services.
-
Is ERP a procurement software?
What Is the ERP Procurement Process? An ERP system is a software application that integrates various business functions, including accounting, order management, inventory management, and human resources management. The functionality also includes procurement.
-
What are the different types of procurement in Malaysia?
Procurement system in Malaysia. The procurement system in Malaysia can be divided into three categories: direct purchase, tender (open tender and closed tender/quotation), and direct negotiation.
