World of Procurement blog

APRIL 23, 2024

Procurement plays a critical role in the operational efficiency and financial health of an organization. Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

Arkestro

SEPTEMBER 29, 2023

Procurement teams run at the highest level of efficiency with autonomous procurement. By leveraging the latest technology to improve efficiency, organizations can increase cost savings, reduce risks in the supply chain, and enhance overall performance. Why is autonomous procurement important?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

World of Procurement blog

APRIL 23, 2024

Technology has transformed procurement operations from a complex, manual process into an automated, streamlined function that enhances decision-making and transparency. Types of Procurement Technology E-Procurement Software: Automates purchasing processes, enabling digital purchase order creation, approval, and electronic invoicing.

Procurement 52

Procurement Supply Chain Efficiency Real-time Visibility Purchase orders 52

Procurement Templates

MARCH 3, 2024

A RFQ is used for low cost purchases and a PQQ is typically used for higher cost tenders. This assessment aims to identify what the organization needs to procure to fulfill its objectives effectively and efficiently. Risks may include budget constraints, supply chain disruptions, quality issues, legal compliance, etc.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Supply Chain Game Changer

MAY 23, 2022

Subscribe to Supply Chain Game Changer. Purchasing items for projects has always been difficult because of high administration costs and risks associated with both the buyer and seller. Just like France, China is also involved in making trades in a secure and efficient trading platform, you can visit the website for more info.

Supply Chain Efficiency 86

Supply Chain Efficiency Bidding Networking Contract 86

Procurement Tactics

APRIL 25, 2023

Thus, you can give your employees a suitable working environment that will allow them to apply the best practices in procurement effectively and efficiently. It helps businesses by improving their finances and processes against a range of challenges that may disrupt the supply chain. Sustainable Procurement: What is it?

Sustainability 168

Sustainability Procurement Ethics Supply Chain Efficiency 168

Value Match

JULY 28, 2022

Bid Management. The UK, Spain, France and Portugal have recently faced unprecedented heatwave causing wildfires across western Europe and disrupting supply chains locally and globally. One of the most common falsehoods is that “deforestation is only driven by food and packaging supply chains”. Categories.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply chain Supply Contract 52

ivalua

FEBRUARY 10, 2023

You can also use its eSourcing solution to create RFPs, receive bids from qualified suppliers, analyze supplier performance and manage contracts in one place. With Ivalua, you can quickly access spend analysis tools to identify areas for cost savings and benchmark current prices against market trends.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Arkestro

MARCH 13, 2023

Arkestro empowers us to automate and accelerate the bidding process, speeding delivery of preferred supplier agreements to different businesses.” Due to pandemic-driven market disruption, consumer behaviors shifted and labor forces shrunk — suffocating the global supply chain.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Procurement Bidding 52

Procurement Software

MARCH 11, 2022

And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time. Sustainability initiatives within the supply chain. Reductions in energy or material consumption.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

Procurement Tactics

AUGUST 30, 2022

Electronic procurement or e-procurement is the process of acquiring, ordering, and purchasing goods and services online. . When electronic procurement is implemented properly, it opens the lines of communication between the organization and the supplier by creating a link and facilitating interactions like bids, emails, and purchase orders.

Procurement 130

Procurement Supply Chain Efficiency Purchasing Suppliers 130

NLPA (Next Level Purchasing Association)

SEPTEMBER 21, 2023

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.

Procurement 52

Procurement Supply Chain Optimization Supply Chain Efficiency Purchasing 52

Arkestro

FEBRUARY 6, 2024

More and more, procurement professionals everywhere are seeing the value of using a platform like Arkestro for sourcing and spot purchase events, making their procurement processes more competitive, and driving cost savings. With no integration required, PPO has the potential to transform any organization’s processes to improve efficiency.

Competitive bidding 52

Competitive bidding Procurement Real-time Visibility Supply Chain Efficiency 52

Una

NOVEMBER 29, 2023

But with the elves’ help, Santa is able to put his freed-up time to valuable use, with activities such as mapping out the most fuel-efficient route around the globe, analyzing the data on his naughty and nice lists, and spending some quality time with Mrs Claus. Things you can do while a GPO works behind the scenes And what about you?

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supplier relationship management Strategic sourcing 52

SPLC (Sustainable Purchasing Leadership Council)

MAY 29, 2019

Sustainable Purchasing Leaders Recognized in Portland. Leading organizations acknowledged for effective and impactful sustainable purchasing. The awards and awardees include: Leadership Award for Overall Sustainable Purchasing Program: . Leadership Award for a Special Sustainable Purchasing Initiative: . Air Liquide.

Leadership 40

Leadership Purchasing Sustainability Supply Chain Efficiency 40

Una

NOVEMBER 1, 2022

These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Today, however, the pandemic has shown procurement to be more than simply purchasing goods and services. Increased efficiency & innovation.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

FEBRUARY 27, 2023

Manufacturers can off-set the effects of inflation and avoid passing on price increases to their goods and services by maximizing the efficiency and effectiveness of the procurement function. Manufacturers, take charge of your supply chain! Let’s explore further.

Real-time Visibility 130

Real-time Visibility Procurement Agile and Lean Supply Chain supply chain budgeting 130

Procurement Software

MARCH 11, 2022

And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time. Sustainability initiatives within the supply chain. Reductions in energy or material consumption.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 52

Una

MAY 18, 2023

It can take various forms including: Bid rigging/collusion: Anti-competitive behavior where suppliers agree in advance who will win the bid for a contract, sometimes with the procurement employee’s collusion. Lack of transparency, inadequate internal controls, and limited oversight further exacerbate the risk.

Risk 98

Risk Procurement Bidding Suppliers 98

Procurement Templates

NOVEMBER 11, 2022

Please circulate this document within your organisation, drawing it to the attention of those with a purchasing role. Dissemination and Scope The contents of this Action Note apply to all Central Government Departments including their Executive Agencies and Non Departmental Public Bodies (InScope Organisations).

Procurement 130

Procurement Contract Supply Chain Efficiency Bidding 130

Una

JANUARY 8, 2024

Boosting Business Growth With the Help of a Group Purchasing Organization A playbook for boosting business growth, moving beyond the outdated perceptions of procurement, and turning it into one of your organization’s most important sources of value. DOWNLOAD PLAYBOOK Table of Contents Introduction What Exactly *Is* Value Creation?

supply chain budgeting 52

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

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Procurement Tactics

JULY 13, 2022

The global pandemic and the ongoing war between Russia and Ukraine have disrupted the supply chain. This will allow you to give importance to these functions that will keep your supply chain sustainable. Many organizations realized that the key to saving costs is the effectiveness of the purchasing department’s decision.

Procurement 130

Procurement supply chain budgeting Negotiation Contract 130

SCMDOJO

JULY 28, 2022

The purchasing department purchases different types of goods and services. This means that every time you host a sourcing event, the same suppliers bid on the same products at the same prices. This means that every time you host a sourcing event, the same suppliers bid on the same products at the same prices.

Suppliers 108

Suppliers Bidding Purchasing Quality 108

Una

OCTOBER 9, 2023

DOWNLOAD PLAYBOOK Table of Contents Introduction In procurement and supply chain, staying ahead of the game is not just a goal – it’s a necessity. Strategic sourcing takes into account a few key concepts: Total Cost of Ownership TCO shows how strategic sourcing looks beyond the initial purchase price.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. From the Purchase Order (PO) Status Report to the RFQ Performance Report, each report is dissected to provide a clear definition and a deeper understanding of its significance.

Supply Chain Efficiency 16

Supply Chain Efficiency Purchase orders Procurement Bidding 16

ivalua

DECEMBER 14, 2020

The pandemic wreaked havoc on businesses and their supply chains, but even in these trying times, there’s a silver lining. The job of sourcing professionals is to understand the risk in the supply chain and manage it so they can react quickly when a problem occurs.” Start by Putting the Right Technology in Place.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain software solutions supply chain budgeting Procurement 130

Una

NOVEMBER 14, 2022

As many companies struggled over the past three years, the pandemic became an enormous opportunity for global giant Amazon and other companies to capture a much larger share of low-value repeatable purchasing. Then, in the 1960s, the practice of competitive bidding became commonplace giving rise to trained procurement professionals.

Procurement 98

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

Supply Chain Game Changer

SEPTEMBER 22, 2022

Subscribe to Supply Chain Game Changer. Then, the suppliers submit their bids and the company decides which one to hire. In the interim, requisitions, purchase orders, accounting, and receiving all work together to handle the finer details of the process. Transparency is a good thing when it comes to spending visibility.

supply chain budgeting 101

supply chain budgeting Real-time Visibility supply chain software solutions Procurement 101

Una

MAY 18, 2023

It can take various forms including: Bid rigging/collusion: Anti-competitive behavior where suppliers agree in advance who will win the bid for a contract, sometimes with the procurement employee’s collusion. Lack of transparency, inadequate internal controls, and limited oversight further exacerbate the risk.

Risk 52

Risk Procurement Bidding Suppliers 52

Arkestro

SEPTEMBER 19, 2023

Couple these with a broader climate of economic volatility and talent scarcity, and CPOs and heads of Manufacturing and Supply Chains have their work cut out for them. In one day, Holman experienced 7% savings, eventually saving $202,000 in the first bid cycle alone.

Sourcing 52

Sourcing supply chain budgeting Procurement Bidding 52

Claritum

JANUARY 25, 2019

However, Supply Chain Management technology is beginning to catch on with SMEs, largely because of the significant cost control benefits and the increasing emphasis on control of supply chains and the internationalisation of these supply chains. Supply chain integration ensuring smooth operations.

Supply chain management 36

Supply chain management Supply chain management Supply Chain Efficiency Supply chain 36

Positive Purchasing

JANUARY 11, 2024

Take waste management – yes, we could negotiate a cheaper contract with improved efficiencies, but can the winning contractor offer opportunities to young people to build new skills and in doing so increase their life chances. Use it to drive change through a whole supply chain – positive purchasing!

Strategy 52

Strategy supply chain budgeting Supply Supply Chain Efficiency 52

SCMDOJO

AUGUST 4, 2023

Reduce inventory lets you measure production efficiency, utilize and standardize hours produced (mainly for overhead absorption). Also, the Risk of fluctuations is present as whatever happens to such stocks can no longer be sold at its original purchase value. In order words, Excess and Obsolete Inventory Is killing your business !

Inventory 90

Inventory Supply Chain Efficiency Supply Chain Optimization Raw materials 90

SCMDOJO

JULY 3, 2023

Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. What is procurement and purchasing Lesson 2. Procurement and Purchasing Cycle Lesson 7. Trends and tendencies in procurement Lesson 3. Role and influence of procurement function in the company Lesson 4.

Cost of ownership 78

Cost of ownership Procurement Category management supply chain software solutions 78

Procurement Heads

JUNE 14, 2023

Public procurement regulations can be restrictive at times but the principles around openness, transparency and equal treatment are the right ones. We have made lots of progress and this has been recognised in our efficiency and effectiveness benchmarking, as well as much improved feedback from the business.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Networking Supply Chain Efficiency Innovation 130

Una

MARCH 6, 2024

Your Business Guide to Outsourced Procurement A comprehensive guide to outsourced procurement and the benefits of working with a group purchasing organization to save money, time, and effort. We’ll also reveal the benefits of outsourcing procurement to a group purchasing organization (GPO).

Procurement 52

Procurement Agile and Lean Supply Chain Purchasing Supply Chain Efficiency 52