Identifying the critical components of a closed-loop purchasing solution

Closed-loop procurement card programs are a nascent trend, and more and more companies are learning to accurately assess, plan and implement these contained processes. A truly effective closed-loop process is a payment system that utilizes one entity as both card issuer and merchant processor, withi...

Full description

Saved in:
Bibliographic Details
Published inAFP exchange Vol. 19; no. 2; p. 34
Main Authors Neidert, Anita R, Cramer, David B
Format Magazine Article
LanguageEnglish
Published Atlanta Association for Financial Professionals 01.03.1999
Subjects
Accounting
Accounts payable
Chemical industry
Chemicals
Closed loop systems
Compliance
Credit card fees
Credit card processing
Customers
Distributors
Information systems
Internet
Order quantity
Procurement cards
Public utilities
Purchase orders
Purchasing
Suppliers
United States > US
Online AccessGet full text

Cover

More Information
Summary:Closed-loop procurement card programs are a nascent trend, and more and more companies are learning to accurately assess, plan and implement these contained processes. A truly effective closed-loop process is a payment system that utilizes one entity as both card issuer and merchant processor, within a specifically defined number of suppliers and client card accounts. The way in which one organization, the Strategic Chemical Management Group, analyzed the critical components of a highly efficient closed-loop process is outlined.
ISSN:1528-4077