Bonfire

APRIL 3, 2023

Not to mention, ERPs can’t connect you with the vendor communities and networks that sometimes come with a dedicated procurement solution, which means that fewer qualified vendors see and bid on your agency’s solicitations in the first place.

Eprocurement 52

Eprocurement Bidding Strategic sourcing Strategic sourcing 52

Procurement Tactics

JUNE 7, 2023

Procurement teams often use these prices as a reference point to evaluate bids. Effective Strategic Sourcing Strategic sourcing can have a positive impact on purchase price variance by helping companies to improve their procurement processes and negotiate better prices with suppliers.

Price 130

Price Purchasing Raw materials Negotiation 130

Empowering CPO

DECEMBER 3, 2020

If the supplier is offering inconsistent prices, suspiciously high prices or there is a huge difference in price of winning bid and other bids, surprisingly similar prices between bids, fewer bids for a particular market or suspicious subcontracting agreements, then it should trigger an alarm for you.

Chief Procurement Officer 52

Chief Procurement Officer Bidding Strategic sourcing Strategic sourcing 52

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

Empowering CPO

DECEMBER 9, 2020

Baseline preparation is one of the most important phase during any Strategic Sourcing process. Preparation of Baseline is important because it allows to understand the savings achieved from the Strategic Sourcing process. Using initials bids of vendors currently interacting with client group or first time concept sellers.

Data 52

Data 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

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 78

Sourcing Bidding Price Suppliers 78

Arkestro

SEPTEMBER 29, 2023

Likewise, automotive company Holman Enterprises saw 7% savings in just one day of using predictive procurement software, and Bel Brands used strategic sourcing software to achieve a 10% cost savings on its final bid. Data-Driven Insights Advanced procurement software generates actionable insights from data analytics.

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

Una

NOVEMBER 29, 2023

Strategic sourcing Invest in strategic sourcing by thoroughly analyzing your organization’s procurement needs and identifying opportunities for cost savings, quality improvements, and risk mitigation. This may involve seeking out new suppliers, optimizing supplier portfolios, and conducting competitive bids.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supplier relationship management Strategic sourcing 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. If practical, do not allow red flag suppliers to bid. Pre-qualify suppliers.

Supply market 52

Supply market Bidding Supply Suppliers 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. Alan explains that each of Keelvar's customers has great flexibility in how they want to design their bid sheet.

Agile and Lean Supply Chain 52

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

Zycus Cognitive Procurement

FEBRUARY 4, 2021

each event sees participation from scores of suppliers – often 250+ – placing bids across 60,000 to 80,000+ lanes. in this large-scale sourcing event, organizations need to model and analyze thousands of bids and conduct various what-if analyses to award the bid to the best-fit supplier out of this massive pool.

Supply Chain Optimization 40

Supply Chain Optimization Sourcing Bidding Suppliers 40

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

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. How to gain visibility and control of your indirect spend.

Buyers 52

Buyers Supply Chain Efficiency Suppliers Price 52

Bonfire

MARCH 24, 2022

Whether through our Open Community Projects , Inside Public Procurement podcast , Strategic Sourcing blog , or virtual events and user meet-ups, we’re dedicated to building a community that promotes and celebrates excellence in public procurement. Driving impact with eProcurement.

Eprocurement 52

Eprocurement Competitive bidding Procurement team Procurement 52

ivalua

MARCH 4, 2016

Recently I attended a conference for Strategic Sourcing in the medical device manufacturing sector. Software that is built for indirect spend will not function in critical areas such as breaking down bids and collaborating with suppliers at the bill of material level.

supply chain software solutions 100

supply chain software solutions Supply Chain Efficiency Supply chain Bill of materials 100

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. But, it’s far more than just buying. It requires deep market knowledge, strong analytical skills, and cross-functional collaboration.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 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 Game Changer

NOVEMBER 24, 2018

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. If the top line isn’t growing, you need to be laser focused on the bottom line. Email info@procurepro.ca

Procurement 51

Procurement supply chain budgeting Contract Competitive bidding 51

Supply Chain Collaborator

MAY 23, 2018

These solutions, when properly implemented , routinely achieve automation levels as high as 80-90% for critical logistics processes like rating, routing, tendering, spot bidding, carrier management, freight audit/settlement and more.

Supply Chain Efficiency 74

Supply Chain Efficiency Freight Audit supply chain budgeting Logistics 74

SCMDOJO

JULY 3, 2023

Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. Requesting ocean rate bids can often feel like a challenging task, adding to the complexity and time-consuming nature of the process for shippers.

Cost of ownership 83

Cost of ownership Procurement Category management supply chain software solutions 83

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

FEBRUARY 13, 2023

Strategic sourcing: Procurement performs a market analysis to identify potential sources of supply and support the organization’s needs. The Manager reviews RFPs before sending them out to potential suppliers to bid. Risk mitigation: The department works to identify and mitigate risks to ensure success.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Empowering CPO

JULY 5, 2023

Introduction In the globalized and rapidly evolving business landscape of the 21st century, the strategic importance of procurement cannot be overstated. However, procurement can also be complex, time-consuming, and fraught with challenges.

Management 52

Management Procurement Real-time Visibility Ethics 52

Procurement Software

MARCH 11, 2022

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. Implement a competitive bidding policy. 3) Vendors not actively managed. There are 2 issues here.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

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. Implement a competitive bidding policy. 3) Vendors not actively managed. There are 2 issues here.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Solvoyo

JANUARY 3, 2020

A digital twin should enable a thorough evaluation of strategic and tactical options for a supply chain, e.g., network design, strategic sourcing through bids, transportation purchasing, seasonal build-ahead options, seasonal assortment options, etc. Enables representation of operational processes.

Supply Chain Optimization 40

Supply Chain Optimization supply chain software solutions Supply chain Supply 40

SCMDOJO

APRIL 3, 2022

Digital bidding, or eAuctions, are a more efficient way of negotiating with vendors in the international market. The highest bid might contribute to greater commerce because most customers will go to their current vendors for ‘non-core’ commodities. Introduction to Strategic Sourcing. . Macfarlane, 2017).

Supply Chain Efficiency 140

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 140

Una

MARCH 6, 2024

RFP Management Creating and managing those time-consuming RFPs to get bids from suppliers can be outsourced. Strategic Sourcing Need some expert advice? BPO firms and consultants can help you develop and implement strategies to optimize your sourcing and procurement activities, all in line with your business goals.

Procurement 52

Procurement Agile and Lean Supply Chain Purchasing Supply Chain Efficiency 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

Arkestro

MARCH 13, 2023

The client also utilized the Arkestro pre-bid supplier survey feature. Capturing responses to a supplier’s ability to accept payment and lead time terms enabled the sourcing team to view best offers in an apples-to-apples comparison at the conclusion of the bidding event.

Sourcing 52

Sourcing Bidding Procurement team Negotiation 52

Pipefy

JANUARY 31, 2023

B Bid A submission from a supplier or vendor containing a cost estimate for goods or services, usually in response to a business’ invitation to bid. Successful bids often contain the supplier’s past relevant projects as a proven track record of success and a detailed plan to deliver the product in a timely manner.

Procurement 52

Procurement Bidding Supply Chain Efficiency supply chain software solutions 52

Supply Chain Collaborator

MAY 23, 2018

These solutions, when properly implemented , routinely achieve automation levels as high as 80-90% for critical logistics processes like rating, routing, tendering, spot bidding, carrier management, freight audit/settlement and more.

Supply Chain Efficiency 17

Supply Chain Efficiency Freight Audit supply chain budgeting Logistics 17

Planergy

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Open Tendering Open tendering is a procurement method that allows companies to bid on goods in an open competition or solicitation. It also requires objective evaluation measures to ensure accurate bids.

Sourcing 52

Sourcing Suppliers Procurement Bidding 52

Procurement Software

FEBRUARY 27, 2024

Source-to-pay software handles everything from the sourcing process, right the way up to invoice payment. We cover the major differences between procure-to-pay , source-to-pay and source-to-contract in two separate articles. In summary, source-to-pay enables strategic sourcing and supplier selection at the upstream end.

Sourcing 52

Sourcing Contract management Price Procurement 52

Pipefy

FEBRUARY 13, 2023

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. RFx and bids Once the list of potential suppliers for the project has been finalized, the bidding process will begin.

Sourcing 52

Sourcing e2e Purchase orders Bidding 52