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

World of Procurement blog

APRIL 23, 2024

In the complex structure of modern businesses, the role of a procurement manager is pivotal for efficient operations and cost management. Here, we dive into what a procurement manager is, what their job entails, the typical day in their life, the career path, and, of course, the remuneration that comes with this crucial role.

supply chain budgeting 52

supply chain budgeting Management Procurement Chief Procurement Officer 52

World of Procurement blog

APRIL 23, 2024

In the complex structure of modern businesses, the role of a procurement manager is pivotal for efficient operations and cost management. Here, we dive into what a procurement manager is, what their job entails, the typical day in their life, the career path, and, of course, the remuneration that comes with this crucial role.

supply chain budgeting 52

supply chain budgeting Management Procurement Chief Procurement Officer 52

World of Procurement blog

APRIL 24, 2024

In the vast and vibrant landscape of procurement, a robust policy does not merely serve as a guideline—it is the bedrock upon which successful procurement practices are built. The Imperative for a Procurement Policy Why, you might wonder, does this document deserve such a prominent pedestal in the canon of procurement?

Procurement 52

Procurement Ethics Collaboration Risk 52

Arkestro

JANUARY 23, 2024

Resources / Blog / What does a Procurement Manager do? Job Description, Skills, and Qualifications What does a Procurement Manager do? Job Description, Skills, and Qualifications As firms continue to leverage technology to carry out sourcing and procurement tasks, market demand for procurement is growing.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

World of Procurement blog

APRIL 24, 2024

In the orchestra of procurement processes, each instrument plays a vital role in achieving the symphony of successful procurement outcomes. Today, we delve into the Request for Quotation (RFQ), a critical piece in this ensemble, elucidating its nuances and how it harmonizes with the broader procurement strategy.

Procurement 52

Procurement Bidding Quantity Procurement strategies 52

World of Procurement blog

APRIL 23, 2024

In the complex dance of corporate procurement, Request for Proposal (RFP) documents play a pivotal role, acting as the bridge between a company’s needs and the potential solutions providers can offer. Let’s dive into the nitty-gritty of Procurement RFPs, from their basic definition to best practices. What is an RFP?

Procurement 52

Procurement Vendor relationships Budget Bidding 52

World of Procurement blog

APRIL 23, 2024

In the complex dance of corporate procurement, Request for Proposal (RFP) documents play a pivotal role, acting as the bridge between a company’s needs and the potential solutions providers can offer. Let’s dive into the nitty-gritty of Procurement RFPs, from their basic definition to best practices. What is an RFP?

Procurement 52

Procurement Vendor relationships Budget Bidding 52

Empowering CPO

JUNE 20, 2023

Today, we’re unraveling the complexity of a crucial process that businesses worldwide rely on for smarter decision-making – spend analysis. Spend analysis, an often overlooked yet critical component of procurement, is all about extracting those stories from stacks of invoices, purchase orders, and contracts.

Real-time Visibility 52

Real-time Visibility Data Supply Chain Efficiency Purchase orders 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

The Good Spending

JULY 4, 2023

So, our intention should be not to injure ourselves and make our internal systems work in harmony. Harmonious development of procurement systems As suggested in this slide, we search the value by operating the strategic sourcing process (trust me, it's not a given in many companies pretending to pursue SRM.) Buy from Amazon U.K.

Supplier relationship management 52

Supplier relationship management Contract Purchase orders Strategic sourcing 52

SCMDOJO

DECEMBER 14, 2023

Studies say that 25% of customers won’t buy something unless it can be shipped in two days or less. To make things simpler, having a clear lead time definition helps in making sure orders are fulfilled on time and customers are satisfied. Time is really important in business.

Agile and Lean Supply Chain 77

Agile and Lean Supply Chain Supply Chain Efficiency Supply Chain Optimization Real-time Visibility 77

Arkestro

MARCH 1, 2024

Resources / Blog / Gartner® Top 4 Predictions for Procurement in 2024 Gartner® Top 4 Predictions for Procurement in 2024 If the last five years have taught procurement professionals anything, it’s that things can change in an instant. No spam, just relevant procurement news and tips.

Procurement 52

Procurement Contract Sourcing Negotiation 52

SCMDOJO

OCTOBER 27, 2023

Supplier negotiation is the most critical skill in the world of procurement. It requires an in-depth knowledge of procurement processes to be able to bring the supplier on a mutual agreement. The following are common types of negotiation in procurement: 1. The aim is often to secure volume discounts or advantageous terms.

Supplier negotiation 90

Supplier negotiation Negotiation Suppliers Supply Chain Efficiency 90

Empowering CPO

JUNE 16, 2023

One of the essential tools to gaining this understanding is a process known as spend analysis. Brief Overview of Spend Analysis Spend analysis is a process that involves collecting, cleansing, classifying, and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance.

Import 52

Import Procurement Supply Chain Efficiency Real-time Visibility 52

Zycus Cognitive Procurement

JANUARY 16, 2023

Don’t we all love the buying experience on Amazon and other eCommerce websites which is instantaneous, offers lot of choices, and almost zero friction. However, buying even basic items at our workplace is usually frustrating. . Challenges in Streamlining Procurement Process. Which require multiple (tactical) verifications .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

Empowering CPO

JUNE 22, 2023

Introduction In the contemporary business landscape, the value of strategic decision-making and sustainable operations cannot be overstated. Two critical aspects that play a pivotal role in this regard are Spend Analysis and Sustainable Procurement. EmpoweringCPO stands at the forefront of facilitating this synergy.

Sustainability 52

Sustainability Procurement Supplier consolidation Supply Chain Efficiency 52

Empowering CPO

JUNE 20, 2023

Introduction In the dynamic world of procurement and supply chain management, understanding your organization’s spending habits isn’t just an administrative duty—it’s a strategic necessity. This is where spend analysis comes into play. In this blog post, we’ll delve deep into the art of spend analysis reporting.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Supply Chain Efficiency Data 40

The Good Spending

AUGUST 26, 2022

But what if the nuclear plant's owner wanted to take advantage of the asset specificity and refused to buy the modified product at an agreed price? You cannot overestimate the value of relationships in outsourcing. So, a contract projects an economic exchange into the future. The theory of incomplete contracts.

Contract 96

Contract Price Negotiation Risk 96

Planergy

MARCH 2, 2023

Tail spend analysis helps companies identify areas of spend that are falling through the cracks, allowing them to make more informed decisions and achieve greater savings. Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Real-time Visibility supply chain software solutions 52

Empowering CPO

JUNE 27, 2023

One area where digital transformation has had a profound impact is in procurement, and specifically, in the realm of spend analysis. One area where digital transformation has had a profound impact is in procurement, and specifically, in the realm of spend analysis.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

Arkestro

OCTOBER 10, 2023

Resources / Blog / AI Revolution in Oil and Gas Procurement: Streamlining Operations for Success AI Revolution in Oil and Gas Procurement: Streamlining Operations for Success The COVID-19 pandemic forced countless industries to become more lean, agile, and innovative, and the oil and gas industry was no exception to the trend.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 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

Positive Purchasing

DECEMBER 6, 2023

Written by Jonathan O’Brien, leading procurement expert and CEO of Positive Purchasing Ltd. Jonathan and his team work with global blue-chip organizations to help transform their procurement capability. We are also adapting our buying approach by starting to internationalize our buying practices and bundling volumes wherever possible.

Sustainability 64

Sustainability Price Supply Chain Efficiency Agile and Lean Supply Chain 64

Empowering CPO

JUNE 14, 2023

Brief Overview of Procurement Welcome to our deep dive into the world of procurement. But before we venture into the depths of innovation in this field, let’s first establish what procurement really is. But, it’s far more than just buying. Introduction A.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

JUNE 27, 2023

Introduction Overview of Spend Analysis and Its Significance in Procurement In today’s competitive business landscape, effective procurement strategies play a vital role in the success of organizations. One crucial aspect of procurement is gaining insights into spending patterns and optimizing expenditures.

Real-time Visibility 40

Real-time Visibility Supply Chain Optimization Data Suppliers 40

Barkers Procurement

MARCH 3, 2023

Digital procurement tools have become essential in procurement. However, investing in digital procurement tools is a procurement decision in itself, so how do you choose the right tool? Analyse your requirements You can’t invest in the right tool if you don’t already know where you are.

Procurement 52

Procurement Budget Purchasing Risk 52

Barkers Procurement

MARCH 3, 2023

Digital tools have become essential in procurement. However, investing in digital procurement tools is a procurement decision in itself, so how do you choose the right tool? Analyse your requirements You can’t invest in the right tool if you don’t already know where you are.

Procurement 52

Procurement Budget Purchasing Risk 52

IBM Supply Chain Blog

FEBRUARY 14, 2024

Voice-based queries use natural language processing (NLP) and sentiment analysis for speech recognition so their conversations can begin immediately. There’s no need to make customers wait for the answers to frequently asked questions (FAQs) or to take the next step to purchase. We’re all amazed by what AI can do.

Real-time Visibility 88

Real-time Visibility Data Supply Chain Efficiency Supply Chain Optimization 88

IBM Supply Chain Blog

DECEMBER 20, 2023

By giving machines the growing capacity to learn, reason and make decisions, AI is impacting nearly every industry, from manufacturing to hospitality, healthcare and academia. Organizations that make efforts to understand AI now and harness its power will thrive in the future.

Strategy 80

Strategy Ethics Supply Chain Efficiency Supply Chain Optimization 80

Empowering CPO

JULY 2, 2023

Introduction In an increasingly interconnected and competitive business landscape, the role of procurement has transformed from a supporting function to a strategic powerhouse. Traditionally, procurement was seen as a tactical, back-office process, primarily focused on buying goods and services at the lowest possible cost.

Management 52

Management Procurement Strategic sourcing Strategic sourcing 52

World of Procurement blog

JULY 27, 2021

What is Procurement? Procurement is more than buying goods and services. The definition of Procurement is “the process or act of procuring”. You were probably expecting us to state it is “to buy or purchase a service or an object”. Procurement is a vital part of Supply Chain Management.

Procurement 52

Procurement Procurement team supply chain budgeting Contract management 52

Zycus Cognitive Procurement

JULY 6, 2022

The cost of raw materials and other direct costs are easily identifiable and often make up a significant chunk of a company’s expenses. In this blog post, we’ll explore some tips for getting started. . They help segment and prioritize the expenditure, making it more manageable. Categorize the expenditure .

Category management 52

Category management Competitive bidding Raw materials Eprocurement 52

Supply Chain Game Changer

JUNE 10, 2020

There’s often not many seconds between the proposition of eating out, and a frantic barrage of mobile searches on various review sites, blog posts and news articles. It’s a sure thing that you’re going to invest time and money in this experience, and you want to make sure it’s going to be worth it, no? Think I’m full of bologna?

Suppliers 56

Suppliers Supplier relationship management Procurement team Supply Chain Efficiency 56

Positive Purchasing

MAY 19, 2022

Philip Ideson, former procurement delivery leader for Accenture and creator of Art of Procurement , the #1 weekly procurement podcast, explores whether category management remains an essential function for procurement organizations – or not. Only procurement thinks of products and services as categories, and that is okay.

Category management 52

Category management Management Procurement Strategy 52

Empowering CPO

MAY 15, 2023

Introduction Welcome to a journey into the heart of successful businesses – the procurement function. Procurement is not just a corporate department; it is a critical business function that has the potential to influence an organization’s profitability, operational efficiency, and strategic success.

Procurement 52

Procurement Innovation Quality Cost of ownership 52

Supply Chain Game Changer

APRIL 15, 2020

Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. Navigating the complexity of the global supply chain as a procurement professional can sometimes feel like taking a walk through the Amazon without a compass, or entering into outer space without an oxygen tank. Don’t Panic!

Procurement 90

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 90