Empowering CPO

DECEMBER 3, 2020

The cartel forming companies divide the markets and customers between themselves and agree on prices. The consequences are increased prices and deteriorating quality of products and services. The cartel may decide to increase the pricing cohesively. New suppliers should feel that they also have a chance of winning the bid.

Chief Procurement Officer 52

Chief Procurement Officer Bidding Strategic sourcing Strategic sourcing 52

Empowering CPO

DECEMBER 9, 2020

Baseline preparation is one of the most important phase during any Strategic Sourcing process. The underlying hypothetical condition is that the RFP is not conducted or negotiation are not conducted and the contract is extended with the incumbent at the same pricing rate as currently applicable. Budgeted Price.

Data 52

Data Cost of ownership Strategic sourcing Strategic sourcing 52

Spend Matters

JUNE 19, 2023

What does a Sourcing Optimization solution do? Sourcing optimization is a focused view of sourcing solutions that emphasizes the ability to perform scenario planning, deep cost modeling and strategic sourcing decision optimization on award scenarios for large complex sourcing events.

Sourcing 72

Sourcing Bidding Price Suppliers 72

Empowering CPO

FEBRUARY 20, 2023

Negotiation is one of the key steps during any Strategic Sourcing process. Procurement organizations and sourcing companies adopt different methods to negotiate prices with vendors. After receiving the responses (pre-bids) it was realized that most of the vendors did not quote for all the SKUs within one specific lot.

Strategy 52

Strategy Cost of ownership Strategic sourcing Strategic sourcing 52

Arkestro

MARCH 13, 2023

Without the ability to work together in the platform amidst an unyielding need to move quickly and efficiently, suppliers struggled to effectively submit bids and stakeholders resorted to using email as their primary mode of communication. Comprehensive data and ease of access are now associated with the entire bid process.

Bidding 52

Bidding Raw materials Procurement team Strategic sourcing 52

Arkestro

SEPTEMBER 29, 2023

Systems use this data to automate routine procurement tasks and make informed decisions about sourcing, pricing, and supplier relationships. This leads to better pricing and terms, reduced errors, improved accuracy, and reduced administrative costs. Why is autonomous procurement important?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 13, 2021

Effective market surveys and analyses are processes that identify whom procurement professionals want to bid on their requirements. The obvious first step in figuring out who can bid on your requirements is determining who you do business with today. Suppliers are willing to cut prices. Conducting Porter’s Five Forces analysis.

Supply market 52

Supply market Bidding Supply Suppliers 52

Planergy

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. An ROI, also called an Expression of Interest or EOI, is not a solicitation for bids but a way for organizations to gauge interest from potential suppliers. Project price and payment terms. Download Free Copy.

Buyers 52

Buyers Supply Chain Efficiency Suppliers Price 52

The Procuretech Podcast

MAY 3, 2022

I ask Alan about Keelvar's unique focus: Optimising spot sourcing. On the one side, there are strategic sourcing events that take a long time (often months) to complete. Many freight handlers reward predictability through their pricing. Each sourcing bot asks for different things.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Bidding Sourcing supply chain software solutions 52

SCMDOJO

FEBRUARY 13, 2023

[Read More: Top 16 Procurement KPIs – The Ultimate Guide ] Key Takeaways The procurement department is critical to an organization, obtaining quality goods and services at competitive prices while ensuring the organization’s resources are needed to succeed. The Manager reviews RFPs before sending them out to potential suppliers to bid.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Una

JUNE 15, 2023

10 Procurement Outsourcing Services Explore ten procurement outsourcing services available to help your sourcing function save more money, time, and effort. The CPO is supported by strategic sourcing managers, category managers, buyers, analysts, contract managers, a compliance officer, an SRM manager, and others as new roles emerge.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Una

JANUARY 8, 2024

When it's finally time to bid them farewell, they are recyclable, contributing to a greener planet. When it's time to bid farewell, they're easily recyclable. Procurement’s strategic sourcing can be the financial wizardry that keeps the business in a healthy financial position.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Agile and Lean Supply Chain Purchasing 52

Supply Chain Game Changer

NOVEMBER 24, 2018

We hope for good prices, but we usually just accept what suppliers offer. Those same companies, out of necessity, became more sophisticated and implemented Strategic Sourcing and Category Management, delivering substantial savings to their companies bottom line and even help capture innovation. Email info@procurepro.ca

Procurement 51

Procurement supply chain budgeting Contract Competitive bidding 51

Empowering CPO

JUNE 14, 2023

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. For one, they often focus too heavily on price at the expense of other factors, such as quality, sustainability, and supplier innovation.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Procurement Software

MAY 28, 2024

They have the ability to streamline the procurement process, enhance transparency, and foster competitive pricing. Best-in-class tools which have appeared over the past 5 or so years can provide a structured and easily accessible platform for suppliers to submit bids. This is especially relevant in strategic procurement roles.

Procurement 52

Procurement Category management Procurement team Real-time Visibility 52

Procurement Software

MARCH 11, 2022

Old school, pure-play price negotiations don’t work, especially in an inflationary market. Direct materials that go into the production process are strategically sourced. Then, combine this with an e-sourcing platform such as DeepStream that suppliers, stakeholders and procurement teams alike all enjoy using.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

Old school, pure-play price negotiations don’t work, especially in an inflationary market. Direct materials that go into the production process are strategically sourced. Then, combine this with an e-sourcing platform such as DeepStream that suppliers, stakeholders and procurement teams alike all enjoy using.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

The Procuretech Podcast

OCTOBER 19, 2021

This is an e-sourcing tool, looking at some of the more tactical areas of sourcing. Whereas most e-sourcing tools tend to focus on strategic sourcing for highly complex tenders, MySupply focuses on the more straightforward sourcing requirements.

Procurement 40

Procurement Negotiation Sourcing Procurement team 40

Supply Chain Collaborator

MAY 23, 2018

Considering the increased sales volume our company is experiencing, you bean counters should be grateful I’m able to get our freight covered and delivered at any price!”. We’re forced to compete against every other shipper out there for dwindling available carrier capacity.

Supply Chain Efficiency 74

Supply Chain Efficiency Freight Audit supply chain budgeting Logistics 74

Una

NOVEMBER 14, 2022

Then, in the 1960s, the practice of competitive bidding became commonplace giving rise to trained procurement professionals. Some companies and organizations thought about the end-customer experience and strategic sourcing , but these concepts were more outliers than standard practice. But then came COVID-19. (

Procurement 98

Procurement Agile and Lean Supply Chain Supply Chain Efficiency Procurement team 98

SCMDOJO

APRIL 3, 2022

They are far more convenient than conventional discussions and negotiations, providing procedural integrity and transparency while also lowering final prices owing to enhanced supplier competitiveness. Digital bidding, or eAuctions, are a more efficient way of negotiating with vendors in the international market.

Supply Chain Efficiency 140

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 140

Procurement Software

MAY 21, 2024

The rough process is as follows: A free text requisition comes in They go to market and get three bids and a buy, or they just use an e-procurement tool to purchase something from a catalogue. A PO is produced for the negotiated price. The future: can strategic sourcing and complex negotiations be automated?

Supplier negotiation 52

Supplier negotiation Negotiation Suppliers Procurement 52

Una

MARCH 6, 2024

Understand the internal costs driving your business, look at your spending by category, and examine volume and the frequency of these transactions to help you figure out if you can get better prices or purchase better products for similar prices through outsourcing. Strategic Sourcing Need some expert advice?

Procurement 52

Procurement Agile and Lean Supply Chain Purchasing Supply Chain Efficiency 52

Arkestro

MARCH 13, 2023

Previously, these contracts were manually negotiated as-need as monthly spot buys, creating repetitive tasks and increased workload across the procurement team Arkestro made a marked improvement in the client’s ability to drive savings by providing AI-generated recommended pricing to suppliers to properly set expectations.

Sourcing 52

Sourcing Bidding Procurement team Negotiation 52

Arkestro

MARCH 13, 2023

They turned to Arkestro strategic sourcing software powered by AI. That is to say that every couple of years, different suppliers are invited into a bidding event, which is then followed by a consensus selection by the different stakeholders to determine the best partner for the specific service or product in question.

Bidding 52

Bidding Procurement Strategic sourcing Strategic sourcing 52

Pipefy

JANUARY 31, 2023

Successful procurement administrators review supplier performance, process change orders, and make price adjustments on a daily basis in order to maintain an intimate knowledge of contract requirements. These awards are legally binding source documents containing terms, conditions, and pricing of the goods or services.

Procurement 52

Procurement Bidding Supply Chain Efficiency supply chain software solutions 52

Procurement Software

FEBRUARY 27, 2024

And that’s before we talk about the price. ERP systems are legacy tools, very highly priced and intended to be the fulcrum IT system of an organisation. Source-to-pay software handles everything from the sourcing process, right the way up to invoice payment. Some S2P suites also offer contract management functionality.

Sourcing 52

Sourcing Contract management Price Procurement 52

Planergy

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. When signing on a new supply customer, you must consider more than just a good-sounding product and price. It also requires objective evaluation measures to ensure accurate bids.

Sourcing 52

Sourcing Suppliers Procurement Bidding 52

Supply Chain Collaborator

MAY 23, 2018

Considering the increased sales volume our company is experiencing, you bean counters should be grateful I’m able to get our freight covered and delivered at any price!”. We’re forced to compete against every other shipper out there for dwindling available carrier capacity.

Supply Chain Efficiency 17

Supply Chain Efficiency Freight Audit supply chain budgeting Logistics 17

Pipefy

FEBRUARY 13, 2023

As its name suggests, S2P’s key aim is to source the best suppliers to meet business needs, from purchase request sourcing to issuing final payments. Typically, the source-to-pay process is used to fulfill needs like finding new suppliers that offer lower prices, better terms, or goods/services not offered by current suppliers.

Sourcing 52

Sourcing e2e Purchase orders Bidding 52

Arkestro

AUGUST 22, 2023

With an oversupply of containers and demands constantly fluctuating, an “ all-out price war ” is expected. With these competitive dynamics set against them, food and beverage professionals need all the help they can get when it comes to managing price and getting the best deal possible for their supply chain.

Food and Beverage Supply Chain 52

Food and Beverage Supply Chain supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 52

Procurement Software

JUNE 13, 2023

SMEs are unlikely to see an ROI on procurement software unless it’s a lower-priced software with relatively basic functionality. Kritani’s eSourcing products allow you to build questionnaires, pricing sheets, and auctions, ensuring a high level of compliance and transparency. The European Union takes a very similar definition.

supply chain software solutions 52

supply chain software solutions Contract management Contract Sourcing 52

Planergy

JULY 21, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Goods have fixed prices, whereas services usually involve negotiation between buyers and sellers to reach a pricing agreement. How to gain visibility and control of your indirect spend.

Management 52

Management Procurement supply chain budgeting Budget 52

Procurement Software

JULY 18, 2023

Procoto offers features including: Strategic sourcing Smart databasing Workflow approvals RFP management Data transformation The platform’s tools and analytics aim to level the playing field between small and large companies – giving leverage to SMEs. When it comes to pricing, all of them will be dependent upon your specifics.

Purchasing 52

Purchasing Contract Negotiation Real-time Visibility 52

The Procuretech Podcast

JULY 12, 2022

Elcom also does work across the UK in the health and education space, where the software covers sourcing, contract management, P2P, inventory, point of care, analytics, and more, along with supplier services such as bid management. Also, there's a difference between a quick sourcing request and a more strategic sourcing exercise.

Sourcing 52

Sourcing Contract management Data Inventory 52

Supply Chain Game Changer

JANUARY 9, 2019

Further analyzing that spend can help you determine opportunities for implementing cost savings practices like supplier consolidation, strategic sourcing , and standardization. If we buy a customized product from a single source how will you know if the price is fair? Therefore, you need to use other techniques.

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

Procurement Software

SEPTEMBER 26, 2023

Source-to-Contract is the end-to-end process which starts with performing due diligence on a supplier, and culminates in a contract being approved, signed and implemented. It is predominantly used for the strategic sourcing of critical goods and services from strategic suppliers. What is Source-to-Pay?

Sourcing 59

Sourcing Contract Competitive bidding Bidding 59