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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Value-add : Procurement aims to add value by optimizing processes, consolidating spend, and building supplier relationships. Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development. Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk.

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How Predictive Procurement Orchestration Helps Unlock Savings in 60 Days

Arkestro

Arkestro’s Personal Touch Across the Globe When a large organization with a complex supply chain came to Arkestro to implement our PPO platform, our professional services team traveled to three of their global locations to make sure PPO could be their strategic superpower this year.

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The Power of Procurement Skills: Building a Resilient Business

NLPA (Next Level Purchasing Association)

The modern business landscape is constantly evolving, and this dynamism is especially evident in the areas of purchasing and supply chain management. In today’s connected world, supply chains have become more complex, with global reach, sustainability concerns, and rapidly changing market dynamics.

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7 Reasons Why You Should Reduce Inventory

SCMDOJO

By implementing effective inventory management and inventory reduction strategies, you can optimize your operations, enhance customer satisfaction, and ultimately boost your bottom line. Following the ever-changing nature of businesses, optimal cost control has not always taken the front seat in the priority list.

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How To Find Customers For Your Manufacturing Business

The Thomas Blog

To start, industrial businesses will need an effective online marketing and sales strategy to help them achieve their business goals — because the B2B buyer behavior has changed. Here are a few things to keep in mind if you're a manufacturer looking for more customers: Optimize Your Website To Convert New Customers. Finance Managers.

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Innovative Procurement Models: Exploring Different Approaches

Empowering CPO

At its core, procurement is the process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Organizations are now expected to not only manage cost but also to ensure supply chain resilience, mitigate risks, and contribute to strategic objectives.

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PRESS RELEASE: 2019 Sustainable Purchasing Leadership Award Winners Announced

SPLC (Sustainable Purchasing Leadership Council)

By establishing an internal green procurement committee and a guidebook for purchasing energy efficient motors, they were able to mandate a minimum of 30% green procurement and then exceed their own mandate by having 83% of their procurements qualify as “green.” John Ferraro Building Efficiency Case Study. They saved $19.4