World of Procurement blog

APRIL 23, 2024

Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers. Contract Management : Navigating, drafting, and managing contracts with vendors.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.

Management 97

Management Procurement Contract management Supply Chain Optimization 97

World of Procurement blog

MAY 10, 2024

Monitoring supplier relationships : AI can track supplier performance metrics, analyze contract terms for risks, and identify opportunities to improve supplier relationships. Enhancing contract management : Natural language processing enables AI to extract key data from contracts.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

SCMDOJO

FEBRUARY 13, 2023

This department manages the selection, acquisition, and payment of goods and services needed to run a business. 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

The Good Spending

JUNE 25, 2023

Chat GPT on category management I tried ChatGPT as an aid in blogging, and it works very well when you need an explanation of a generic theory or concept for your audience. Getting to more sophisticated tasks, I asked ChatGPT to explain procurement category management to a non-professional.

Contract administration 52

Contract administration Procurement Category management Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

From managing supplier relationships to ensuring cost-effective purchasing, the performance of the procurement function can significantly impact a company's bottom line and reputation. Spend Under Management Measures the amount of spend that the procurement team actively manages, aiming for higher percentages for better control.

Procurement 52

Procurement Supply Chain Efficiency Procurement team Quality 52

World of Procurement blog

APRIL 23, 2024

From managing supplier relationships to ensuring cost-effective purchasing, the performance of the procurement function can significantly impact a company's bottom line and reputation. Spend Under Management Measures the amount of spend that the procurement team actively manages, aiming for higher percentages for better control.

Procurement 52

Procurement Supply Chain Efficiency Procurement team Quality 52

Future Purchasing

OCTOBER 4, 2022

Category management is the strategic end-to-end process for managing categories of related supplier spend that aligns business goals and requirements with supply market capability. Effective internal cross-functional working is the foundation of successful category management. Business requirements.

Category management 59

Category management Strategic sourcing Strategic sourcing Sourcing 59

Arkestro

JANUARY 23, 2024

Resources / Blog / What does a Procurement Manager do? Job Description, Skills, and Qualifications What does a Procurement Manager do? Procurement managers play a key role in this rapid growth, helping organizations optimize costs, negotiate favorable terms with suppliers, and ensure financial efficiency.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Zycus Cognitive Procurement

SEPTEMBER 20, 2022

As the world continues to change at a rapid pace, category managers will need to be more nimble and adaptable than ever before. As a result, category managers must be prepared for continued evolution in shopping habits and be ready to adjust their strategies accordingly. Stay tuned! Key challenges.

Category management 59

Category management Management Price Sustainability 59

Procurement Leaders

DECEMBER 9, 2022

With operations all over the world, and sourcing offices in Denmark, North America and China, its supply chain is exposed to a huge scope of complex challenges, across categories of spend including agriculture, chemicals, and enzymes, among others. LA-B: Many things.

Collaboration 162

Collaboration Supply Chain Efficiency Raw materials Supplier relationship management 162

Arkestro

APRIL 25, 2023

Resources / Blog / Reducing Construction Costs & Improving Sourcing Efficiency with Predictive Procurement Reducing Construction Costs & Improving Sourcing Efficiency with Predictive Procurement Construction companies face a host of challenges in the post-COVID era.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing supply chain budgeting Real-time Visibility 52

Zycus Cognitive Procurement

NOVEMBER 29, 2022

Cost management should be predicated predominantly on improving operational efficiencies. You must apply cost management strategies at Level 3 or 4 or Level 5 for it to be effective, as you may have a different approach for each sub-level. Renegotiate vendor contracts. Contract compliance. Eliminate non-essential spend.

Strategy 52

Strategy Real-time Visibility Contract e2e 52

Supply Chain Game Changer

MARCH 9, 2022

This document is the first legal contract in the operational procurement process. Within the project, materials can be further grouped into categories, giving rise to organizational strategy project-based procurement called category procurement , where items are grouped into categories derived from their similarity and managed accordingly.

Procurement 108

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 108

SCMDOJO

SEPTEMBER 18, 2023

In the dynamic landscape of supply chain management, precise terminology is paramount. In supply chain management, acquisition typically implies a more comprehensive and strategic approach, often involving negotiations, contracts, and sometimes mergers or partnerships. Read More: What Does a Procurement Manager Do?

Procurement 99

Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 99

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. They have to match the Purchase Requisition with the underlying contracts and quotations .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

Barkers Procurement

OCTOBER 2, 2023

Why A Procurement Managed Service Can Transform Your Business Procurement is about more than just acquiring goods and services at the right time and at the best price for your business. All of this takes real expertise, which you can access when you hire a procurement managed service to support you. Can you get them cheaper?

Management 52

Management Procurement Contract Contract management 52

ivalua

DECEMBER 6, 2022

Nowadays, Procurement practitioners primarily talk about emerging topics like the reduction of scope 3 emissions, supplier-enabled innovation and supply risk management. The ultimate goal is to realize contracted savings and ensure that suppliers ‘perform to contract’. Previously published on Capgemini’s website.

e2e 130

e2e Suppliers Procurement Contract 130

ivalua

APRIL 7, 2022

Leader Forrester CLM for Buy-Side Contract Suites, Q4 2021. Leader Forrester Supplier Value Management Platforms, Q1 2022. The group covered localizing suppliers, right shoring, ESG, and managing risk. Keep an eye out for an in-depth blog session recap! NEW Payments Solution. 750 plus employees. Natacha TREHAN.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Chief Procurement Officer Supply Chain Efficiency Sustainability 130

SCMDOJO

JULY 3, 2023

This blog intends to assist you through the labyrinth of procurement training by pointing out the most reliable courses that fit your objectives and aspirations and hence act as your compass in the realm of procurement training, whether you’re hoping to break into the sector, looking to up skill, or yearning for promotion chances.

Cost of ownership 80

Cost of ownership Procurement Category management supply chain software solutions 80

Zycus Cognitive Procurement

JULY 6, 2022

However, another category of spending is just as important but often more difficult to track: indirect costs. In this blog post, we’ll explore some tips for getting started. . That’s where category managers come in. They help segment and prioritize the expenditure, making it more manageable.

Category management 52

Category management Competitive bidding Raw materials Eprocurement 52

The Good Spending

MAY 28, 2023

Building a High-Performing Procurement Team While efficient sourcing, negotiation, and supplier management are crucial for organizational success, the strength of the procurement team is equally important. This blog post will explore how the Belbin Team Role Theory can be applied in procurement.

Procurement team 52

Procurement team Procurement Category management Sourcing 52

IBM Supply Chain Blog

FEBRUARY 23, 2024

To make data inventories more manageable, organizations can consider using data protection solutions that automatically discover and classify data. Identify and protect special category data When inventorying data, organizations should make a note of any especially sensitive data that requires extra protection.

Data 83

Data Inventory Risk Contract 83

The Good Spending

MARCH 3, 2024

Service-oriented offerings ensure that businesses can benefit from the latest technologies without the burden of managing them internally. Yet another tool for your sourcing and category management to consider applying. My Udemy course "Foundations of Contracts and Outsourcing." My Udemy course "Value-based Procurement."

Procurement 59

Procurement Sourcing Category management Procurement strategies 59

ivalua

JUNE 29, 2021

These programs are as familiar to procurement professionals as concepts like spend analysis or category management. Government, which has been sponsoring diversity programs since 1969 on government contracts. This mainstream awareness is directly attributable to the U.S.

Business strategy 162

Business strategy Suppliers Strategy Ethics 162

Future Purchasing

DECEMBER 9, 2021

A common challenge area for category teams is understanding the breadth of content that a category management strategy should contain. However, an excellent category management strategy will address many aspects of the business which surround the most effective acquisition and use of a set of products or services.

Category management 52

Category management Strategy Management Price 52

Arkestro

SEPTEMBER 29, 2023

In this blog, we’ll explore how autonomous procurement is reshaping procurement execution, freeing organizations to spend less time on routine tasks — and more time on high-value activities that further overall business goals. This diverts more spending to negotiated contracts, which increases the value those contracts provide.

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

Barkers Procurement

SEPTEMBER 5, 2023

Cost transformation is more than just about cutting costs: managing costs effectively and ensuring they align with the organisation’s strategy and main initiatives. A good category plan will help you reap more value from markets for specific categories as part of a cost transformation project.

Demand 52

Demand Sustainability Influencing Business strategy 52

Empowering CPO

JUNE 22, 2023

Spend analysis, a cornerstone of procurement and supply chain management, is the process of collecting, cleansing, classifying, and analyzing expenditure data with the goal of reducing procurement costs, improving efficiency, and monitoring compliance. But how do we fuel the engine of strategic sourcing?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

ivalua

MARCH 13, 2019

The overall ease of supplier engagement is determined by their ability to discover business opportunities, manage interactions with the state, locality or federal agency, and stay informed. Too many contract officers struggle to work with Procurement solutions that have poor user interfaces (UIs). Intuitive Workflows & UI.

Suppliers 100

Suppliers Contract Bidding Procurement 100

Empowering CPO

JULY 2, 2023

Introduction Welcome to our latest discussion on a crucial facet of business operations: Managed Procurement Services. If you’re new to the term, Managed Procurement Services refers to the outsourcing of a company’s procurement functions to a specialized firm.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Supply Chain Game Changer

OCTOBER 28, 2021

ProcureTech is a fast-growing technology category. There are a plethora of start-ups, scale-ups, and growth ventures that are providing best-of-breed solutions to the market, and they continue to pop up; strengthening the continued growth of this ‘little known’ software category. Change requires Change Management.

supply chain budgeting 89

supply chain budgeting Procurement Supply Chain Efficiency e2e 89

ivalua

MAY 1, 2020

As I write this blog, the COVID-19 pandemic continues to ravage populations and economies around the world. Others may still be applied to help businesses better manage the effects of the crisis. And to maximize the impact of these and other objectives, Procurement needs to be managing all spend and all suppliers.

Supply chain management 130

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Optimization 130

Empowering CPO

JUNE 14, 2023

It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Purpose of the Blog Post This blog post will serve as your guide to innovative procurement models. But, it’s far more than just buying.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

World of Procurement blog

JULY 27, 2021

Why you need a Contract Lifecycle Management System Contract Lifecycle Management (CLM) systems are a must-have for effective Contract Management. There is no way you would want to build a process outside of the CLM to ensure "you were doing Contract Management" without implementing it.

Contract management 52

Contract management Contract Management Contract administration 52

Barkers Procurement

AUGUST 20, 2023

Standardisation of Contracts During AMP7 there was a shift from NEC3 to NEC4 contracting documents. With the stakes so high to ensure work is completed on time and to a satisfactory level, it is important that water companies are clearer on the allocation of risk and assign it to the party best able to manage it going forward.

Contract 52

Contract Collaboration Risk Category management 52

Barkers Procurement

MAY 25, 2023

Discover the key strategies and best practices for effective tail spend management. What is Tail Spend Management? Tail spend can cover Indirect and Direct categories. Collectively the value and therefore the savings opportunity is likely to be of higher value than some of the ‘big ticket’ categories.

Spend management 52

Spend management Import Management Eprocurement 52