Spend Matters

JUNE 19, 2023

In this article, our analyst Bertrand Maltaverne looks at sourcing optimization. What does a Sourcing Optimization solution do? Why buy a Sourcing Optimization solution Intended to yield optimal sourcing decisions in large/complex sourcing events (i.e.,

Sourcing 79

Sourcing Bidding Price Suppliers 79

The Procuretech Podcast

SEPTEMBER 8, 2020

E-sourcing tools have been around since the late 1990s, and have been pretty mainstream for the past 15 or so years (I used them myself way back in 2003)! One of these concentrates on simplifying, shortening and using game theory to influence the outcome of sourcing activities.

Bidding 40

Bidding Sourcing Budget Innovation 40

Arkestro

SEPTEMBER 19, 2023

Resources / Blog / Autonomous Sourcing Leads to Better Procurement Outcomes Autonomous Sourcing Leads to Better Procurement Outcomes The only ubiquitous thing about sourcing and procurement in 2023 is that there is no one-size-fits-all model for success. However, with great challenges also come great opportunities.

Sourcing 52

Sourcing supply chain budgeting Procurement Bidding 52

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. In doing so, procurement professionals are ascending the corporate stairs to have a more visible seat in their business’s strategic sourcing. Strategic sourcing best practices. Here are four best practices for strategic sourcing: 1. Strategic sourcing is similar.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Una

MARCH 23, 2023

Pain Points in Procurement Series Improving Time-to-Source in Procurement Improving time-to-source in procurement can lead to greater customer satisfaction, streamlined sourcing processes, and increased cost savings. How to improve time-to-source in procurement But how can we speed up time-to-source?

Sourcing 98

Sourcing Procurement Procurement team Contract 98

Supply Chain Game Changer

APRIL 28, 2020

In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. What is Single Sourcing or Sole Sourcing?

Sourcing 82

Sourcing Bidding Supply chain Suppliers 82

ProcurePort

NOVEMBER 3, 2023

Cost savings and increased competition through real-time bidding and transparent processes. Streamlined procurement, improved supplier relationships, and data-driven decision-making for more efficient and effective sourcing. Online reverse auctions have emerged as a powerful tool in this regard.

Bidding 130

Bidding Innovation Sourcing Suppliers 130

Zycus Cognitive Procurement

JANUARY 16, 2023

You must have found yourself struggling with limited visibility into preferred or contracted suppliers, contract utilization status, budgeting issues, and multiple requirements for sourcing low dollar items or services. Increased efforts for buyers to process 3 bids and a buy for low value requests. . Auto-addition of supplier .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

Zycus Cognitive Procurement

FEBRUARY 4, 2021

Despite sourcing being central to supply chain and procurement processes and the business as a whole, it continues to take a backseat in most organizations’ digital transformation priorities. However, large-scale sourcing is an increasingly common procurement scenario. What is Large-scale Sourcing and its Challenges? .

Supply Chain Optimization 40

Supply Chain Optimization Sourcing Bidding Suppliers 40

Procurement Tactics

OCTOBER 12, 2022

A construction request for proposal (RFP) is a document that is used by organizations to get details for accomplishing their goals from potential suppliers and helps to source the best contractor to create the drawing boards. . In construction projects, the RFP is sent out to invite contractors to review project documents and submit bids.

Bidding 177

Bidding Negotiation Collaboration Procurement 177

Jaggaer

OCTOBER 6, 2020

“We have captured many benefits thanks to the decision we took to extend our JAGGAER implementation to include sourcing. And not least, double-digit cost savings on our electronic sourcing bid events.”. Since then OSU has conducted around 900 sourcing events via JAGGAER. Paperless at the O.K.

Sourcing 52

Sourcing Bidding Chief Procurement Officer Competitive bidding 52

Procurement Tactics

NOVEMBER 14, 2022

A Request for information (RFI) is a method of gathering information from multiple suppliers before the procurement manager starts to source products or services. . A request for proposal (RFP) is a document that contains the description of the project and solicits bids from potential contractors to complete it. What is RFP?

Bidding 178

Bidding Suppliers Procurement Influencing 178

Jaggaer

MARCH 30, 2020

Sourcing with Big Data. Walter Charles’s philosophy on the modern state of sourcing is that it is artificially limited by the tools that teams are using. The traditional three bids and a buy model is a product of software constraints, rather than the ideal method of sourcing.

Sourcing 99

Sourcing Data Bidding Supply Chain Efficiency 99

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Templates

NOVEMBER 11, 2022

Source : UN.Org. The energy sector is the source of around three-quarters of greenhouse gas emissions today and holds the key to averting the worst effects of climate change. Replacing polluting coal, gas and oil-fired power with energy from renewable sources, such as wind or solar, would dramatically reduce carbon emissions.

Procurement 130

Procurement Bidding Contract Suppliers 130

Jaggaer

AUGUST 12, 2020

For the first three months after Covid-19 hit, virtually every sourcing project , in every sector , was put on hold while companies tried to assess the situation and how best to deal with the epidemic. In recent weeks , all that has changed , and organizations are firing up transportation and mega-bids. .

Sourcing 52

Sourcing Bidding supply chain software solutions Supply Chain Optimization 52

Procurement Tactics

NOVEMBER 25, 2022

The government contracting market has traditionally been a reliable source of income for contractors, even during times of economic downturn. If the same pattern follows, we can expect that procurement from government agencies will remain a steady revenue source for suppliers. ?. Or receive our famous weekly newsletter.

Raw materials 195

Raw materials Bidding Contract Suppliers 195

ivalua

OCTOBER 28, 2022

Total estimated infrastructure bill allocations: Source. COVID-19 had closed their vendor liaison office and vendors were no longer able to drop off physical bids in person, nor could they conduct bid opening per their established process. Chief among these challenges is the need to modernize procurement processes and tools. .

Bidding 130

Bidding Procurement Procurement team Procurement solutions 130

Procurement Tactics

DECEMBER 26, 2022

Setting the appropriate strategy in procurement is the first step to improving control and effectiveness of the overall procurement and sourcing activities. Thus, a bigger company named PULSO won the bid and collaborated with Oxiframe to make an innovative solution. . Procurement Strategy Case Studies — 5 Insightful Examples.

Procurement strategies 267

Procurement strategies Strategy Procurement Bidding 267

Procurement Tactics

AUGUST 29, 2022

E-tendering or electronic tendering is the process of using e-procurement platforms to automate solicitation bid tenders and assess suppliers. . E-tendering is an essential part of the e-procurement process as it facilitates the way of sourcing suppliers efficiently. . What is E-Tendering? Universities or other organizations.

Competitive bidding 130

Competitive bidding Bidding Contract Suppliers 130

ivalua

JULY 6, 2020

Some will look to outside sources for solutions and inspiration, whereas some tap into the knowledge that exists within the organization. Most public organizations are used to accepting bids from suppliers in paper form, delivered to their offices. Innovation is a difficult subject for many organizations.

Innovation 246

Innovation Bidding Budget Suppliers 246

ProcurePort

JUNE 9, 2021

When procurement teams are faced with outdated, cumbersome, laborious procurement systems they will more often than not cut corners in a bid to simply get things done. Unfortunately, the subsequent result of this is that vetted suppliers are overlooked and best sourcing in […].

Strategy 130

Strategy Procurement Bidding Procurement team 130

Spend Matters

FEBRUARY 21, 2024

SOW drafting traditionally starts once a supplier bid has been accepted and the business is ready to move forward with work. The business requestor and Sourcing or Procurement go back and forth (usually several times) to ensure the draft reflects the work being requested. for more iterations of edits and reviews before finalization.

Bidding 89

Bidding Market analysis Buyers Suppliers 89

IBM Supply Chain Blog

JUNE 14, 2023

But that’s all changing thanks to pre-trained, open source foundation models. Over the next few months, we’ll be making these models available for clients, alongside the open-source model catalog mentioned earlier. Prompts are simple text inputs that effectively nudge the model to do your bidding with direct instructions.

Sourcing 90

Sourcing Data Bidding Quality 90

Procurement Tactics

APRIL 17, 2023

Usually, market research covers sourcing for new available suppliers. Depending on the business, a sourcing specialist can help them in identifying new sources of supplies. In government procurement, this usually involves public bidding where suppliers are vying to get the contract.

Sustainability 201

Sustainability Procurement Negotiation Bidding 201

Jaggaer

MARCH 18, 2020

Sourcing with Big Data. Walt Charles’s philosophy on the modern state of sourcing is that it is artificially limited by the tools that teams are using. The traditional three bids and a buy model is a product of software constraints, rather than the ideal method of sourcing. You can gather as many bids as you want.

Sourcing 59

Sourcing Data Bidding Supply Chain Efficiency 59

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

Procurement Tactics

OCTOBER 6, 2022

A request for proposal (RFP) is an important document that is used to solicit bids prior to the acquisition of goods and services for a project. . Outlines your specifications that allow suppliers to understand what to bid to win the project. . Quickly evaluate the strengths and shortcomings of the bidding suppliers.

Project management 180

Project management Management Bidding Buyers 180

ProcurePort

MAY 5, 2023

Reverse auction software is a digital platform that enables buyers to solicit bids from multiple suppliers in real-time. What is Reverse Auction Software? Unlike traditional auctions, reverse auctions involve suppliers competing against each other. The lowest bidder wins in this auction, not the highest.

Bidding 130

Bidding Buyers Price Suppliers 130

ivalua

JULY 21, 2021

REV Group embarked on its sourcing and procurement transformation earlier this year, which included four appointments to REV’s global sourcing and supply chain team, representing the Fire & Emergency, Commercial and Recreation segments. Benefits include: Shortened sourcing cycle times. 100% visibility of sourcing processes.

Supply Chain Efficiency 130

Supply Chain Efficiency Supply Chain Optimization Supply chain Competitive bidding 130

Arkestro

NOVEMBER 17, 2022

Arkestro was recognized with the designation of “Value Leader” in the Sourcing category of Spend Matters’ Fall 2022 SolutionMap rankings. “What if every sourcing event learned from the combined history of every sourcing event your team has ever run?

Bidding 52

Bidding Market analysis Strategic sourcing Strategic sourcing 52

ivalua

NOVEMBER 11, 2020

LADWP Shifts to Electronic Bidding System in Response to Covid-19. Prior to COVID-19, the agency accepted supplier bids by mail or in person — two methods that in an instant became impossible. The challenge involved building a custom supplier portal — a dropbox where suppliers could safely submit their bids online.

Eprocurement 130

Eprocurement Bidding Suppliers Collaboration 130

Spend Matters

DECEMBER 12, 2022

Categories: Industry News , Source to Pay , Spend Management Tags: EU , mergers and acquisitions Giant of the Business Spend Management (BSM) world, Coupa Software, this morning announced it has entered into a definitive agreement to be acquired by Thoma Bravo, one of the largest private equity firms in the world. Read more here.

Competitive bidding 87

Competitive bidding Spend management Bidding Buyers 87

Procurement Templates

MARCH 28, 2024

With solemn nods and bureaucratic nods, they discuss the pressing matter of sourcing eggs for the grand Easter egg hunt. Bids are submitted, counteroffers are made, and alliances are forged and broken like fragile Easter egg shells. “For every penny saved is a victory against the forces of budgetary doom.”

Chief Procurement Officer 130

Chief Procurement Officer Bidding Negotiation Procurement 130

Arkestro

OCTOBER 5, 2023

Let's talk on average to buy materials closed bid events to date “Arkestro shines quite a bit by having an easy interface and being able to collect bids quickly from suppliers. Multiple construction and engineering companies leverage Arkestro’s Predictive Procurement technology to execute faster procurement on better terms.

Bidding 52

Bidding Quality Sustainability Collaboration 52

Zycus Cognitive Procurement

JANUARY 12, 2021

What is Source to contract? Source to contract (S2C) refers to the set of procurement processes that come into play while sourcing a product or service. How is Source to contract affected during a crisis? How is Source to contract affected during a crisis? 2] Collaborative Sourcing.

Contract 52

Contract Sourcing Chief Procurement Officer Contract management 52