World of Procurement blog

APRIL 23, 2024

Procurement plays a critical role in the operational efficiency and financial health of an organization. By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

Procurement plays a critical role in the operational efficiency and financial health of an organization. By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

Procurement Templates

MARCH 3, 2024

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. This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

SCMDOJO

JULY 28, 2022

However, when you buy something, you may not always know all the suppliers that offer a particular product. Then the Supplier registration form comes in handy. This means that every time you host a sourcing event, the same suppliers bid on the same products at the same prices. What is Supplier Registration?

Suppliers 108

Suppliers Bidding Purchasing Quality 108

ivalua

FEBRUARY 10, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Barkers Procurement

AUGUST 10, 2023

Why Diversifying Your Supply Chain Is So Important The Power of Diversifying Your Supply Chain – You don’t need us to tell you how essential supply chains are. Managing a supply chain involves working with a network of suppliers who are all connected via a centralised supply chain management process.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Efficiency Supply chain Supply 52

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

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. Sourcing Software: Helps companies find and acquire goods and services by managing RFQs (Request for Quotations) and bidding processes.

Procurement 52

Procurement Supply Chain Efficiency Real-time Visibility Purchase orders 52

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

Procurement Software

APRIL 18, 2023

This ensures they get the best deal possible with their suppliers. These negotiations take place in real time, with all prospective suppliers at once. This involves suppliers competing in sequential bidding. This saves buyers not only money, but hours of conversation time. This back and forth is very time-consuming.

Bidding 52

Bidding Supply Chain Efficiency Real-time Visibility Negotiation 52

Arkestro

SEPTEMBER 7, 2023

Automotive Accelerate your auto supply chain efficiency with Arkestro Get in touch Our solutions Rev up your procurement impact with PPO Predictive Procurement Orchestration (PPO) is transforming the way automotive companies find the right supplier, at the right price, at the right time.

Bidding 52

Bidding Supply Chain Optimization Supply Chain Efficiency Price 52

Empowering CPO

JUNE 22, 2023

Introduction In an increasingly interconnected global economy, supplier diversity has emerged as a key strategy for companies seeking not only to foster social responsibility and inclusivity, but also to drive innovation, competitiveness, and market growth. Our commitment extends beyond delivering top-tier spend analysis services.

Suppliers 52

Suppliers Supply Chain Efficiency supply chain budgeting Data 52

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. Consequently, staying on top of these financial trends gives manufacturers a critical edge in predicting their bottom line. Let’s explore further.

Real-time Visibility 130

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

Value Match

JANUARY 26, 2023

The investigation comes following the Uyghur Forced Labour Prevention Act that bans products from Xinjiang unless organisations can prove their supply chains are free from forced labour. Implementation of a robust and transparent supply chain management system that includes regular communication and collaboration with suppliers.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply chain Supply Bidding 52

Arkestro

FEBRUARY 6, 2024

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. Our suggested pricing capabilities.

Competitive bidding 52

Competitive bidding Procurement Real-time Visibility Supply Chain Efficiency 52

Arkestro

MARCH 13, 2023

Industry: Automotive Manufacturing Headquarters: New Jersey, USA Website: holman.com % savings in one day % supplier reduction “One of the challenges that we’ve had in categorizing our spend is taking on static, preferred supplier agreements to drive pricing down. It turned to Arkestro Predictive Procurement software.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Procurement Bidding 52

Procurement Tactics

JUNE 7, 2023

It is a common concept in cost accounting and is used to evaluate the efficiency of a company’s purchasing process. Proper utilization of this metric yields a crucial understanding of the procurement organization’s efficiency in achieving cost reduction objectives. Why is it Important?

Price 130

Price Purchasing Raw materials Negotiation 130

Value Match

JUNE 13, 2022

Bid Management. Looking at your suppliers and analysing them from a different perspective will mitigate those risks a good starting point is to profile your current suppliers. Reputation of your suppliers. What do you know about your suppliers? Longevity of your suppliers? Where are your suppliers located?

Risk management 52

Risk management Supply Chain Efficiency Risk Supply chain 52

Procurement Templates

NOVEMBER 11, 2022

This should be achieved through asking the supplier specific questions: o at selection stage, seeking evidence of developing and maintaining skills relevant to the contract in question o at award stage, seeking the supplier’s proposals for skills development and apprenticeships in performance of the contract. •

Procurement 130

Procurement Contract Supply Chain Efficiency Bidding 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. Supplier innovation. Sustainability initiatives within the supply chain.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

Una

MAY 18, 2023

Unfortunately, procurement is rife with opportunities for fraud due to our relationships with suppliers and connections with contracts, negotiations, and payments. This can lead to employee/supplier collusion (“kickbacks”), conflicts of interest, inflated invoices, and other types of fraud.

Risk 98

Risk Procurement Bidding Suppliers 98

Value Match

AUGUST 4, 2022

Bid Management. Biometric machines for workers to clock-in and clock out could control the practice of overwork and underpay – although supply chain auditors found this could be circumvented by hiding a secondary machine or using a separate paper record. Eradicating Modern Day Slavery from your Supply Chain.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply chain Ethics Supply 52

Procurement Heads

MARCH 27, 2023

We’re responsible for the supplier management and then supporting the business in contract management as well. We are having to become much more agile in our approach because suppliers are less willing to hold their pricing. Sustainability is one of those, and supply chains can influence carbon emissions in a huge way.

Sustainability 246

Sustainability Agile and Lean Supply Chain Influencing Procurement 246

Procurement Tactics

AUGUST 30, 2022

EDI was further improved in the 1990s as organizations developed specialized online catalogs for suppliers. . In order to meet this objective, it is significant for organizations to establish strong relationships with their suppliers. . It involves supplier relationships and information management. . Editor's note: Hi there!

Procurement 130

Procurement Supply Chain Efficiency Purchasing Suppliers 130

Value Match

OCTOBER 6, 2022

Bid Management. In a recent survey by Chartered Institute of Procurement & Supply, 19% of the 300 procurement professionals surveyed did not know how sustainable their products were, whilst almost 50% did not believe their organisation was being sufficiently transparent with consumers, clients and regulators about sustainability.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply chain Supply Contract 52

Value Match

APRIL 6, 2023

Under the UK’s Modern Slavery Act 2015, companies with a turnover of over £36 million are required to publish an annual statement outlining the steps taken to address slavery in their supply chains. Be transparent: A modern slavery statement should be transparent and honest.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply chain Risk Bidding 52

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.” Data silos also inhibit agility, Keeley said. “As

Agile and Lean Supply Chain 130

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

Una

NOVEMBER 1, 2022

These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Strategic sourcing is a holistic approach to developing supply channels that consider all activities within a procurement cycle to secure the best goods and services for the business.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

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. Supplier innovation. Sustainability initiatives within the supply chain.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 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

ivalua

MARCH 4, 2016

getting involved early on in the New Product Introduction ( NPI) cycle to ensure suppliers risk is being properly evaluated in production capacity and quality. That is very much like using a spoon to butter your bread—it may get the job done and it is still a utensil, but it will be far less efficient than a knife. Time is Money.

supply chain software solutions 100

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

Procurement Tactics

AUGUST 9, 2022

It requires a lot of factors before choosing a potential supplier. For those people who just started their journey in procurement, a vendor is a general term that describes any supplier of goods and services. It is also known as a supplier. . However, it is possible for a vendor to be a supplier of goods and a manufacturer.

Vendor relationships 130

Vendor relationships Quality Price Bidding 130

Supply Chain Game Changer

AUGUST 15, 2019

Subscribe to Supply Chain Game Changer. Strategic Supplier Relationship Management – Do’s and Don’ts. Article written for Supply Chain Game Changer by, and permission to publish here provided by, Tyler Brown. Does your business rely on at least one supplier? Email Address.

Suppliers 58

Suppliers supply chain software solutions Supply Chain Efficiency Supplier relationship management 58

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. It helps by finding suppliers that will give the best possible materials for its project. Procurement Today.

Procurement 130

Procurement supply chain budgeting Negotiation Contract 130

Supply Chain Game Changer

SEPTEMBER 22, 2022

Subscribe to Supply Chain Game Changer. Choosing suppliers. After that, a request for a proposal gets sent out to potential suppliers. Then, the suppliers submit their bids and the company decides which one to hire. Transparency is a good thing when it comes to spending visibility. Subscribe Here!

supply chain budgeting 101

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

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. This includes providing decision support around spend, suppliers, and analytics. However, with great challenges also come great opportunities.

Sourcing 52

Sourcing supply chain budgeting Procurement Bidding 52

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