Companies adopt eProcurement to centralize and automate all purchasing activities on a single digital platform. It simplifies tracking orders, keeps spending within budget, ensures company procurement policies are followed, and strengthens relationships with suppliers through streamlined eProcurement processes.
Procurement is the traditional process of sourcing and purchasing goods or services for a business. It often involves manual steps such as paperwork, phone calls, and in-person negotiations. e-Procurement, on the other hand, is the digital version of this process, using online platforms and software to automate and streamline tasks like supplier selection, purchase approvals,… Continue reading What is the difference between Procurement and e-Procurement?
While often used interchangeably, Contract Management and Contract Lifecycle Management (CLM) are slightly different. Contract Management usually refers to overseeing contracts after they’ve been signed like tracking compliance, obligations, and renewals. On the other hand, CLM covers the full contract journey from initial request and drafting to negotiation, approval, execution, and renewal or termination. CLM… Continue reading What’s the difference between Contract Management and Contract Lifecycle Management (CLM)?
CLM improves contract compliance by standardizing contract creation processes, using pre-approved templates, and automating approval workflows. It ensures that all contracts adhere with company policies, legal requirements and industry-specific regulations (e.g., GDPR, HIPAA, SOX, etc.). With built-in alerts, version control and audit trails, CLM tools reduce the risk of missed deadlines, unauthorized changes, or regulatory… Continue reading How does Contract Lifecycle Management (CLM) enhance contract compliance?
CLM is essential for businesses because it boosts contract efficiency, cuts operational risks, and ensures legal compliance. By automating workflows and setting reminders for key deadlines, it prevents missed renewals or costly errors. Companies also gain better visibility into contract performance and terms. Overall, CLM saves time, increases productivity, and enhances ROI across departments.
Contract Lifecycle Management (CLM) refers to the end-to-end process of creating, managing, and overseeing contracts digitally. From drafting and negotiating to execution and renewal, CLM software ensures every stage is streamlined and tracked. It helps reduce manual work, improve accuracy, and offer better control over business agreements.
According to the German Supply Chain Due Diligence Act Lieferkettensorgfaltspflichtengesetz (also called LkSG or Lieferkettengesetz), the following firms are subject to the law: Businesses with their head office, major location of business, administrative headquarters, or registered office in Germany, regardless of legal structure. Enterprises with at least 3,000 employees (including temporary workers), i.e. around 600… Continue reading Which companies are affected by the German supply chain due diligence act?
The LkSG (lieferkettensorgfaltspflichtengesetz) not just applies only to German companies, certain foreign companies are also subject to the LkSG, provided that they have a branch office in Germany and employ over 3,000 individuals in the country. Operating and distributing products in Germany alone does not fall under the Act. Although the Act doesn’t offer a specific definition… Continue reading Does the lieferkettensorgfaltspflichtengesetz act apply only to German companies?
Companies that are legally required to adopt LkSG compliance with the law may face financial or trade limitations as a result of noncompliance. The supply chain act Germany presently states that the following consequences may occur: Fines of up to EUR 800,000, or up to 2% of the company’s annual global revenue. Administrative enforcement actions may result in… Continue reading What happens if a business does not comply with the supply chain act Germany?
The Germany Supply Chain Act specifically outlaws the following human rights breaches: Child labour for minors under 18 per the ILO Convention on the Worst Forms of Child Labour, 1999 (No. 182). Forced labour. All types of slavery or comparable forms of dominance or oppression at work. Ignoring the local relevant regulations on workplace safety and… Continue reading What Human Rights does The German Supply Chain Act protect?
Vetri celebrated three years as CEO of MeRLIN Sourcing in June 2023. His vision spearheaded the transformation of the company internally through modernization and HR transformation and externally with the promise of delivering value to customers and putting them at the heart of the MeRLIN Sourcing business and product development strategy.
Vetri built his career in global software businesses over the last decades. Seasoned professional with a global perspective, spanning the Americas, Europe, and Asia, and a diverse industry background across EPC, Defense, manufacturing, automotive, and life sciences industries.
A firm believer in the principles of doing well by doing good, he won his two awards as the IT Executive of 2014-2015 and 2016-2017 in Europe. He is a highly regarded global thought leader in the IT and cloud software industries and is an active investor/advisor for emerging companies. He is known as a leader who builds and motivates world class teams, champions diversity, and exudes a deep passion for how technology can transform the workplace and empower individuals.
Dr. Werner Breuers completed his studies in chemistry at the RWTH Aachen University with a doctorate. He began his professional career in 1989 as a chemist at Hoechst AG in Frankfurt in the research and development department.
After managerial positions at Hoechst AG, Dr. Breuers took over management of the license and catalyst business at the polyethylene manufacturer Elenac GmbH in Kehl in 1999, which became part of the Basell group a year later. As a member of Basell’s Executive management team, he headed the global Technology Business division based in Milan and most recently served as President of Basell Polyolefins Europe based in Amsterdam.
Dr. Breuers has also been a member of the Board of Management of LANXESS AG since May 14, 2007 and was responsible for the Performance Polymers and Advanced Intermediates business units. His responsibilities and strategic operations also include the functional areas of Global Procurement & Logistics, Innovation & Technology and Industrial & Environmental Affairs. He has been board of several other companies and has also served as trustee of RWTH Aachen University and currently advising and supportinfg the growth of MeRLIN Sourcing in Europe.
Oliver Scheffert is an experienced entrepreneur with a successful completed doctoral program in business administration and a master’s degree in International Business Studies. He held management positions at Microsoft for nearly 13 years, receiving prestigious awards for exceptional leadership and results like the Circle of Excellence Platinum Award. Notably, Oliver led the ISV business unit in Germany to a billion-dollar revenue stream.
He later served as the General Manager/Managing Director at Aparavi Software Europe GmbH and recently founded CNSLT Partners GmbH, a strategy and management consultancy, leveraging his extensive specialist knowledge to help IT companies achieve lasting success.
