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Strategicsourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Think of them as apples and gearseach essential and effective on its own, yet when combined; they create a formidable mechanism for achieving procurement excellence.
Procurement and supplychain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
It’s been a very long time since I’ve had to consider about procurement objectives. Here are some typical procurement objectives that every procurement professional should consider. Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategicsourcing.
Direct and indirect procurement are two fundamental approaches in supplychain management, each serving distinct functions within an organization. Both focus on improving efficiency and reducing costs but differ in their strategic approach and impact on the core business operations. Find Out More What Is Procurement?
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. AI, automation, and generative tools are redefining efficiency, allowing procurement teams to move from reactive to proactive decision-making.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. This blog explores the most common challenges in digital procurement and the capabilities that matter most.
Complete Source to Pay cycle and StrategicSourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. What is Source-to-Pay?
Subscribe Digital Procurement Improves SupplyChain! And so are your procurement responsibilities. Sometimes, unforeseen disruptions, whether a natural disaster or an internal planning issue, can throw your procurement process off course. How do you scale procurement as your business grows? Let’s dive in.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supplychains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supplychains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.
StrategicSourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategicsourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has StrategicSourcing Evolved?
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supplychain disruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Loss of revenue due to stock shortages.
EDITOR’S NOTE: I am under embargo regarding the advanced copy I received from ZIP with their Procurement Predictions for 2025. I have gone through the Procurement Insights archive of 2,410 posts from 2007 to today to provide what I believe will be a unique context explaining the evolution of predictions over the past couple of decades.
It made me wonder if and how the C-Suite view of procurement has evolved over the past 14 years. Starting with the CFO, then the CIO, CEO, and The Board, here is the outline of changes in how top executives view procurement going forward in 2025. Analytics and insights from procurement data were minimal.
Procurement Priorities for 2025 and Beyond The manufacturing industry is evolving rapidly, leaving Chief Procurement Officers (CPOs) grappling with challenges that could make or break their organizations. Amid economic uncertainties and geopolitical shifts, procurement leaders face mounting pressure to drive sustained growth.
If you’re evaluating procurement technology or exploring ways to drive more value from existing systems, chances are you’re looking beyond tactical fixes – you want a smarter, scalable strategy. Misaligned priorities across finance, legal, and procurement create friction that delays decision-making and reduces impact.
In the July 2008 Procurement Insights post Procurement considerations when dealing with a merger? (A There is more to e-procurement than software (Part 2) – see the link in the Web Resources Section. If it did, then 85% of all e-procurement and supplychain initiatives would not fail. FROM CANDY. FROM CANDY.
Supplychain and procurement have undergone a seismic change in recent years. Increased globalization, constant digital transformation, and ever-evolving consumer demands have led to a situation where traditional supplychain skills are simply no longer enough for success.
Ivalua NOW AMER 2025 in New Orleans was an event that exceeded all expectations, delivering an unforgettable experience for our thriving procurement community. This year’s theme focused on reshaping the procurement industry’s approach to innovation, tackling challenges, and uncovering fresh paths to success.
The market for procurement talent harbours a dangerous disconnect. Procurement Directors post openings demanding Excel wizardry and SAP expertise. This mismatch threatens entire procurement organizations. Traditional procurement relied heavily on manual processes. Strategicsourcing It continues to drive value creation.
This negative variance can result from bypassing defined procurement processes, Internal mismanagement, or ineffective price negotiations with suppliers. Market Fluctuations and Inflation : External factors such as inflation, rising raw material costs, and global supplychain disruptions have a significant impact on procurement costs.
AI is moving from hype to reality, and the C-suite is under mounting pressure to deliver clear, ROI-driven strategies—especially in the high-stakes world of procurement and supplychain. AI is uniquely positioned to help—but only if it’s applied with a strategic, enterprise-wide lens.
EDITOR’S NOTE: Chevron was IN NO WAY involved with the following assessment, although I think they will find it to be an interesting read because it leverages their known capabilities and aligns them with my prior research and discussions on procurement efficiency, Shared Services, and Hansens RAM principles.
How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. 4][5] Supplier Portals Enhance Collaboration: Digital supplier portals are now in use across 35% of procurement platforms. How to report and analyze indirect spend to identify savings opportunities.
We continue our Procurement Transformation Guide by hearing from Sammy Rashed, a productivity advisor and procurement strategist. Introduction Seven years ago, procurement organizations faced immense pressure to evolve balancing operational efficiency with strategicagility in an increasingly digital world.
Critical Perspective : Leadership stability drives innovation, but SAP Aribas corporate structure may limit agility compared to smaller firms like Tealbook or ORO Labs. No leader has significant Logistics and SupplyChain expertise , reflecting the S2P focus of their companies. Agree or Disagree?
By selecting and developing the right suppliers and establishing streamlined, transparent communication with them, manufacturers gain the agility and resilience to respond to customer demands, rise to the top, and navigate disruptions more easily. That makes agility a foundational part of your manufacturing strategy.
This is where operational procurement proves its true value. But what exactly does procurement operations mean, and why is it so important? In this blog, well explore the true meaning of operational procurement, how it supports core business functions, and the impact it can have on overall performance.
MODEL 1 – LEVEL 1 Jon Hansen’s contribution to The Procurement Imperative 2025 – Global Report by Economist Impact and SAP clearly integrates the foundational elements of his Metaprise , Agent-based , and Strand Commonality models, though these frameworks are not named explicitly in the report.
In many industries, procurement is responsible for managing significant budgets which means it holds a key lever for business performance. From Order Fulfillment to Strategic Value Creation Partner This realization is relatively new and comes with a fundamental shift in how the role of procurement is understood.
Building Stronger Relationship s : Effective Approaches to Multi-Tier Supplier Collaboration A chain is only as strong as its weakest link—but what if you can’t evaluate the entire chain? Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supplychain.
SupplyChain Disruption in 2025: Navigating SupplyChain Issues Supplychain issues have become the defining challenge for multichannel merchants in 2025. When supplychains falter, customer satisfaction plummets and competitors gain ground. What Are SupplyChain Issues in Plain Language?
Procurement Insights isnt just an opinion engine. Its the institutional memory of the procurement profession and the only advisor offering contextual guidance built from decades of archived intelligence. It fills critical gaps in depth, agility, and contextual insight that most traditional analysts and association models overlook.
Today Im joined by ProcurementIQ , a company whose talented team of analysts, editors, sales, client services, management and support members work hard to serve the specific needs of procurement departments every single day. We were learning and so was procurement in its own right.
A year ago, we published a checklist naming eight procurement challenges manufacturing companies would face in 2024. We began the piece by writing, Procurement is more dynamic than ever. What will that mean for procurement in the manufacturing sector? Restructuring supplychains in this way adds to complexity.
• The quest for efficiency and agility in supplychains has led companies to develop relationships with suppliers from all over the world. Companies cannot limit themselves to only sourcing from one supplier or market when value opportunities abound elsewhere.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Work to achieve 100% supplychain visibility.
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter StrategicProcurement — Everything You Should Know Strategicprocurement allows businesses to meet the demand of the current procurement landscape by making sense of the data and automating the procurement process.
We believe that a key pillar of this transformation is the supplychain. With such growth comes supplychain complexity. Shift towards self-contracting and self-distribution: With health systems gaining significant scale and wanting more control over their supplychain, this shift is accelerating.
33 Procurement Interview Questions in 2022. Procurement Speakers 2022 – 10 Most Popular Experts. Procurement speakers share their knowledge to inspire people in procurement that they are making a difference in the world. However, not all in the field of procurement are updated as they are more focused on their work. .
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