Updated: Dec 3, 2020
The most valuable thing in this world is – TIME. Getting things done on time is efficient, productive and beneficial. On the contrary, when things don’t happen as per schedule, it creates angst, stress and monetary loss.
One area in business where we observed this gap, between expectations and results is in area of procurement.
A business (buyer) places an order to another business (supplier). A verbal or written agreement (in form of purchase order) is consummated between buyer and seller. The agreement calls out the delivery date (among other details - product, quantity and price).
Situation we encountered
One of our co-founders was an IT Manager supporting purchase department of a mid-sized medical device manufacturer. The company built X-ray machines that required 100+ components to be procured and assembled from 10+ different suppliers. The purchase manager struggled day-in and day-out to get all the components in time. He would follow-up incessantly with his suppliers, and was never sure he will get all components on time (despite having a written agreement in the form of a purchase order).
Could a simple purchase order tracking and supplier reminder tool help?
We then talked to purchase departments in a number of industries. We talked to machine tool and auto component manufacturers sourcing parts. We talked to hospitals procuring medical equipment and consumables. We talked to construction companies procuring building materials. The problem was consistently the same.
This gave us the inspiration to build Prybox. Prybox is a purchase manager or small business owner’s tool that does 2 things:
1. Tracks and systemically follows-up on pending orders, saving them TIME and
2. Alerts managers (immediately) on orders experiencing delays, for contingency planning