World of Procurement blog

APRIL 24, 2024

The role of procurement has evolved from transactional to strategic, signaling a transformative shift in its impact on business success. The repercussions are multifold: increased costs, compromised quality, elongated timelines, and missed opportunities for innovation and sustainable sourcing.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Risk management 52

Procurement Leaders

AUGUST 25, 2023

By benchmarking leading organisations alongside others, Procurement Leaders’ Strategic Planning Guide 2024 research reveals the measures procurement chiefs can take to ensure their functions perform at the highest possible level. CPOs may wish to consider whether they can increase those figures further, however.

Strategic planning 130

Strategic planning Procurement Influencing Procurement team 130

Spend Matters

FEBRUARY 19, 2024

It is a supplier management solution that simplifies and enhances sourcing and supplier relationship management (SRM) for global procurement and sourcing teams. There are many old, new and developing stories about risk and the disruptions impacting business continuity and operations. Kodiak Hub helps companies address such challenges.

Risk 101

Risk Suppliers Supplier relationship management Sustainability 101

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. By the way, when doing sourcing preparations it doesn’t mean that you can’t work on multiple parts at once and go back and forth before the tender is issued but there is a typical order.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

IBM Supply Chain Blog

APRIL 22, 2024

One of the key challenges they face is the lack of reliable data and insights, according to an IBM survey of business leaders. AI technology can help overcome this challenge by turning intel into insights faster, enabling businesses to drive toward sustainability goals and financial targets more quickly.

Sustainability 89

Sustainability Data Sourcing Strategy 89

World of Procurement blog

APRIL 23, 2024

In today's competitive business environment, procurement isn't just a necessity; it's a strategic function that can significantly influence a company’s bottom line. We also provide strategic considerations for businesses planning to adopt procurement technology. Examples include SAP Ariba and Coupa.

Procurement 52

Procurement Supply Chain Efficiency Real-time Visibility Purchase orders 52

Procurement Leaders

APRIL 6, 2023

UCB CPO Sebastien Bals sits down with Procurement Leaders’ chief product officer David Rae to share some insights into his function’s response to the ongoing polycrisis. And so, the more insight we have into what is going on, it allows us to make that right judgement.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Supply Chain Efficiency Supply chain Supply 130

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

To thrive, procurement functions need to become strategic partners within the organization, actively driving growth and efficiency. It’s a strategic approach that goes beyond simply buying goods and services. In this dynamic environment, traditional procurement practices that focus on transactional tasks are no longer enough.

Category management 52

Category management Management Procurement Supplier relationship management 52

Empowering CPO

FEBRUARY 11, 2024

Introduction In the ever-evolving landscape of procurement, organizations are turning to strategic sourcing services to navigate the complexities and achieve sustainable success. Consulting firms like ours leverage cutting-edge tools and analytics to gain deep insights into market trends, supplier performance, and cost structures.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

The Procuretech Podcast

MAY 7, 2024

In this podcast episode, the importance of incorporating spend analytics software into procurement is highlighted as a means to gain insights and enhance value within the function. Advances in AI and machine learning have made these tools more efficient, allowing procurement teams to focus on strategic activities. Stay in touch!

Procurement team 40

Procurement team Procurement Import Strategy 40

World of Procurement blog

APRIL 24, 2024

Understanding the Procurement Process At its core, the procurement process is a strategic axis around which the efficiency, effectiveness, and ethical standards of a business revolve. This process encompasses all activities involved in sourcing, acquiring, and managing the resources necessary for an organization's operations.

Supply Chain Efficiency 52

Supply Chain Efficiency Ethics Procurement Sustainability 52

Empowering CPO

MARCH 21, 2024

The clash between healthcare providers and strategic teams over the utilization of alternative brands with similar clinical outcomes is a perennial challenge. The complexity of numerous categories, baseline assumptions, and resistance from healthcare providers impedes the realization of projected savings from strategic sourcing efforts.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Optimization Sourcing 52

Empowering CPO

MARCH 17, 2024

The clash between healthcare providers and strategic teams over the utilization of alternative brands with similar clinical outcomes is a perennial challenge. The complexity of numerous categories, baseline assumptions, and resistance from healthcare providers impedes the realization of projected savings from strategic sourcing efforts.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Optimization Sourcing 52

Empowering CPO

MARCH 17, 2024

The clash between healthcare providers and strategic teams over the utilization of alternative brands with similar clinical outcomes is a perennial challenge. The complexity of numerous categories, baseline assumptions, and resistance from healthcare providers impedes the realization of projected savings from strategic sourcing efforts.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Optimization Sourcing 52

Spend Matters

APRIL 4, 2024

Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data.

Procurement 83

Procurement Risk management Raw materials supply chain software solutions 83

Empowering CPO

JUNE 22, 2023

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? The answer lies in the powerful tool of spend analysis.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Spend Matters

DECEMBER 21, 2023

Today, for procurement organizations too, applying an AI-first approach has become imperative, especially in the source-to-pay process. Generative AI, in particular, offers transformative potential in optimizing source-to-pay processes. And the maximum value can be extracted from these new tools through strategic integration.

Procurement solutions 83

Procurement solutions Procurement e2e Real-time Visibility 83

World of Procurement blog

APRIL 23, 2024

Spend Analysis Tools: Provide insights into spending patterns, helping businesses identify savings opportunities and improve procurement strategies. E-Sourcing Software: Facilitates online bidding and tendering processes, enabling transparent and efficient supplier selection. What is Procurement Software?

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency supply chain budgeting Procurement 52

World of Procurement blog

APRIL 23, 2024

Spend Analysis Tools: Provide insights into spending patterns, helping businesses identify savings opportunities and improve procurement strategies. E-Sourcing Software: Facilitates online bidding and tendering processes, enabling transparent and efficient supplier selection. What is Procurement Software?

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency supply chain budgeting Procurement 52

World of Procurement blog

APRIL 23, 2024

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

IBM Supply Chain Blog

JUNE 29, 2023

Integrated Business Planning (IBP) addresses these challenges by providing a comprehensive framework that integrates strategic, operational and financial planning, analysis, and reporting to drive better business outcomes. Strategic planning Integrated Business Planning starts with strategic planning.

supply chain software solutions 87

supply chain software solutions Real-time Visibility Agile and Lean Supply Chain Supply Chain Optimization 87

Spend Matters

JANUARY 19, 2024

In no order of preference, other than by the date they arrived in our inbox, today let’s hear from Seth Catalli , Chief Revenue Officer at AI and autonomous sourcing leader Globality, Inc. Utilizing AI means that procurement will soon position itself as a strategic force.

Procurement solutions 95

Procurement solutions Procurement Sourcing Innovation 95

ivalua

JANUARY 29, 2021

The survey for 2020 delivers this level of insight but also provides special insight as responses to the survey were split between responses before the Covid pandemic and during the pandemic. Therefore, the survey gives a fascinating insight into the impact that the pandemic has had on procurement teams globally. “70%

Suppliers 195

Suppliers Bill of materials Procurement team Risk management 195

Spend Matters

JANUARY 17, 2024

In this Spend Matters Vendor Analysis, we give an overview of ChAI, a pricing/market intelligence solution built to provide procurement teams with deep insights into the evolution of commodities. It also contributes to mitigating supply chain risks, fostering transparency in supplier relationships and supporting long-term strategic planning.

Raw materials 55

Raw materials Supply Chain Efficiency supply chain budgeting Strategic planning 55

Arkestro

MARCH 27, 2024

The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing. They also make strategic decisions that optimize value and minimize costs, all while mitigating risk and staying compliant. Bureau of Labor Statistics. What does it take to become a procurement buyer?

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

IBM Supply Chain Blog

DECEMBER 18, 2023

One of the largest sources of data is all around us—that is, geospatial data. Real-world applications of GIS GIS technology provides insights that are key to many industries and disciplines. This is information relating to the Earth’s surface, its climate, the people who live on it, its ecosystems and more.

Data 110

Data Sourcing Management Sustainability 110

IBM Supply Chain Blog

APRIL 25, 2024

.” Rich Berkman, VP and Senior Partner for Digital Commerce at IBM iX A successful commerce strategy then is a holistic endeavor across an organization, focused on personalization and fostering customer loyalty even in deeply uncertain times. Can the customer trust a business to make it easy to control their own data?

Strategy 97

Strategy Ethics Purchasing Data 97

Procurement Tactics

MARCH 23, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Source-to-Contract — The Ultimate Guide Source-to-contract is an important process in procurement. If you want to know about source-to-contract, then this is for you! What is Source-to-Contract?

Contract 156

Contract Sourcing Purchase orders Bidding 156

SCMDOJO

APRIL 4, 2023

By harnessing the power of data and analytics, companies can uncover valuable insights into their supply chain processes, pinpoint areas in need of improvement, and make informed decisions that can boost their bottom line. To accomplish this, supply chain analytics collects, analyzes, and synthesizes data from a wide variety of sources.

Supply Chain Analytics 111

Supply Chain Analytics Supply Chain Optimization supply chain budgeting Supply Chain Efficiency 111

Spend Matters

MARCH 8, 2023

Categories: Procurement Strategy & Planning , Procurement Systems & Architecture , Strategic Sourcing Tags: PRO In this Spend Matters PRO Vendor Analysis, we give an overview of akirolabs, a category strategy management solution built to support the transformation of procurement from a tactical function to the role of value orchestrator.

Strategy 75

Strategy Strategic sourcing Strategic sourcing Management 75

Empowering CPO

JANUARY 28, 2024

At EmpoweringCPO, we excel in Strategic Sourcing Outsourcing , a methodical approach to procurement that emphasizes data-driven decision-making, market intelligence, and innovative procurement analytics tools. Essential Tips and Tricks: Data-Driven Decision-Making: The foundation of successful Strategic Sourcing lies in data.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Optimization 40

SCMDOJO

APRIL 29, 2024

Sign Up for SCMDOJO Pro Membership Importance of Effective Supply Chain Management Supply chain management is not just about moving products from point A to point B – it’s a strategic approach that encompasses the entire network of processes involved in delivering goods and services to customers.

Supply chain management 67

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Optimization 67

Spend Matters

DECEMBER 22, 2023

In traditional sourcing or intake platforms, it seems the adoption and NPS significantly reduces the more clicks a business user needs to make. All the end user sees are the relevant guided questions about the repair before receiving full visibility into and the ability to interact with into the sourcing process for that request.

Procurement solutions 81

Procurement solutions supply chain budgeting Procurement Budget 81

Arkestro

FEBRUARY 20, 2024

It also improves time-to-market and improves collaborative and advanced sourcing strategies, which frees up procurement professionals to focus on strategic activities. How to Implement Predictive Procurement Orchestration Implementation of predictive procurement requires a strategic and systematic approach. The result?

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Procurement Supply Chain Efficiency 52

Procurement Software

APRIL 23, 2024

The company offers a comprehensive suite of tools that enable procurement teams to collect and merge spend data, maintain an accurate spend taxonomy, and generate actionable insights for strategic decision-making. To do this quickly and efficiently, spend analytics software is your best friend. Mithra-Ai Mithra-AI Solutions B.V.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Supply Chain Efficiency supply chain budgeting 52

Pipefy

DECEMBER 20, 2023

Procure-to-pay analytics draws meaningful insights and identifies risks, inefficiencies, and opportunities to streamline or optimize P2P workflows for better, more data-driven business decisions. Analytics is the analysis of data through the process of organizing, interpreting, discovering, and sharing patterns, trends, or insights.

Import 52

Import Procurement Real-time Visibility Data 52