Procurement Insights

MAY 25, 2024

As a result, they avoided the trap of eVA becoming a software project, as Bob put it, and were thereby able to shift the emphasis from an exercise in cost justification to one of process understanding and refinement. The 75 to 85% e-procurement initiative failure rate gives testimony to this fact. – Yes, Virginia!

supply chain software solutions 63

supply chain software solutions Supply chain Supply Procurement 63

ProcurePort

NOVEMBER 12, 2019

In recent times there has been an increased awareness and focus on implementing and using procure-to-pay software within businesses. The old method of pen and paper P2P (procure-to-pay) opens the door for a magnitude of issues such as inefficiencies, poor spend […].

Procurement 100

Procurement 100

World of Procurement blog

APRIL 23, 2024

The procurement to pay (P2P) process, also known as purchase to pay, is an essential component of an organization's financial and operational efficiency. It encompasses all steps from the initial identification of a need for goods or services, through procurement and payment, to the eventual reconciliation of accounts.

Procurement 52

Procurement Purchase orders Needs identification Purchasing 52

World of Procurement blog

APRIL 23, 2024

The procurement to pay (P2P) process, also known as purchase to pay, is an essential component of an organization's financial and operational efficiency. It encompasses all steps from the initial identification of a need for goods or services, through procurement and payment, to the eventual reconciliation of accounts.

Procurement 52

Procurement Purchase orders Needs identification Purchasing 52

ivalua

JULY 7, 2020

Will businesses go backwards due to necessity and survival or will they step up and push forward to go further and faster to achieve the right balance? Of course, the crisis is still very much real, affecting many people and businesses with long-lasting effects. Many of us are in a post-covid state of mind, I most certainly am.

supply chain software solutions 130

supply chain software solutions Suppliers Procurement Strategic sourcing 130

The Good Spending

JANUARY 21, 2024

This post suggests we use a similar approach when purchasing SaaS (cloud software). This method allows SaaS businesses to remain competitive in the market while aligning their offerings' perceived value with others. Value can be found in savings, efficiency, or competitive advantage. by negotiating value-share agreements.)

Price 59

Price Negotiation Strategy Buyers 59

IBM Supply Chain Blog

DECEMBER 13, 2023

The role of procurement extends beyond transactional activities. A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. What is a procurement strategy?

Procurement strategies 69

Procurement strategies Strategy Procurement Supply Chain Efficiency 69

ivalua

OCTOBER 4, 2021

New legislation and regulations that support these imperatives are adding to the urgency for businesses to adopt and execute on corporate social responsibility (CSR) initiatives — but there are barriers to overcome, especially in Procurement. Getting Business Priorities Straight. Executive Buy-in Is Critical.

Supply Chain Efficiency 130

Supply Chain Efficiency Sustainability supply chain software solutions Suppliers 130

Arkestro

JUNE 20, 2023

Research-backed procurement strategies can help CFOs achieve their goals while minimizing risk exposure across global supply chains. This blog will cover the current challenges facing CFOs and procurement teams and several strategies that can be implemented to drive cost savings and increase efficiency.

Procurement strategies 52

Procurement strategies Supply Chain Efficiency Strategy supply chain budgeting 52

The Procuretech Podcast

MARCH 15, 2022

Today is a very proud and special day for me as I launch our new venture: Procurement Software. I've listed 10 reasons why I believe that Procurement Software provides a solution that nobody else out there is offering.here goes: 1. Focus on software that's within reach of mid-market businesses.

supply chain software solutions 52

supply chain software solutions Procurement Supply Chain Efficiency Market knowledge 52

Zycus Cognitive Procurement

JANUARY 16, 2023

Challenges in Streamlining Procurement Process. Beyond the poor experience that a business user (requisitioner) faces, the Category manager or the Buyer in the procurement core team also face multiple challenges like: . Such a broken procurement process also impact the procurement KPIs across multiple fronts like: .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

Procurement Software

APRIL 25, 2023

This blog post is based on a video interview I gave about digital procurement back in January in Dubai with Dr. Muddassir Ahmed of SCMDOJO. Why procurement technology’s growth is not with enterprise suites Procurement technology is no longer the sole preserve of large enterprises.

supply chain software solutions 52

supply chain software solutions Procurement Real-time Visibility supply chain budgeting 52

World of Procurement blog

MAY 8, 2024

What is Procurement? Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. Scope : Procurement spans the entire process from identifying requirements to contract closure. Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

World of Procurement blog

MAY 23, 2024

Supplier consolidation refers to the strategy of reducing the total number of suppliers that a company deals with and instead focusing procurement spending on a select few preferred suppliers. This reduces administrative costs of procurement. To leverage procurement data and insights by consolidating spend across fewer suppliers.

Supplier consolidation 52

Supplier consolidation Suppliers Supply Chain Efficiency supply chain budgeting 52

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. from February 2020 to August 2022.

Supply Chain Efficiency 52

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

Zycus Cognitive Procurement

JULY 25, 2022

CPOs and procurement leaders everywhere are trying to identify ways to be agile to handle future uncertainties. . A significant amount of change has taken place in the procurement function over the past few years. Here are the latest updates on digital procurement in 2022 : .

supply chain budgeting 52

supply chain budgeting Procurement Agile and Lean Supply Chain Management 52

Procurement Software

JANUARY 16, 2023

One of things I frequently get asked is why we don’t have software reviews as part of our Software Finder section. This short post explains why we don’t ask for, or publish, user reviews of the different procurement software we feature on the site. Reviews of procurement software solutions are pointless.

Procurement 59

Procurement Buyers Change management Category management 59

SCMDOJO

SEPTEMBER 18, 2023

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

Procurement 99

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

Strategic Sourceror

JULY 11, 2022

Organizations that have utilized traditional procure-to-pay (P2P) solutions are experiencing the need to monitor spend efficiency more closely. The same holds true for businesses that have deployed a combination of disparate systems, alongside enterprise resource planning (ERP) software.

e2e 52

e2e supply chain budgeting supply chain software solutions Strategic sourcing 52

Strategic Sourceror

JANUARY 13, 2023

How will it address business owners' supply chain challenges? Surge in robots-as-a-service usage Robots as a service, or RaaS, refers to the delivery of robotic solutions on a subscription or pay-per-use basis. What inducements, beyond better pay, will encourage more people to apply? Here are a few predictions: 1.

supply chain software solutions 62

supply chain software solutions Supply Chain Efficiency Strategic sourcing Strategic sourcing 62

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

IBM Supply Chain Blog

FEBRUARY 13, 2024

Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. And from that group, 71% would pay a premium for it.

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Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 83

Procurify

MAY 24, 2022

If it sounds familiar, you’d agree that manual procurement is very tedious and time-consuming. This explains why more organizations are adopting an e-procurement strategy. This explains why more organizations are adopting an e-procurement strategy. 6 steps to help you create and implement an e-procurement strategy.

Procurement strategies 52

Procurement strategies Strategy Procurement Cost of ownership 52

Procurify

MAY 12, 2022

Many people use the terms procurement and purchasing interchangeably. In this guide, we clarify any confusion on the difference between procurement and purchasing, and deep dive into each area. This often includes how a procurement manager goes about ordering and paying for something. What is procurement?

Purchasing 52

Purchasing Procurement Purchase orders Cost of ownership 52

Barkers Procurement

MAY 11, 2023

Procure to pay is a process that integrates accounts payable and receivable systems so that the organisation can achieve greater efficiency. Choosing a good P2P software solution helps the organisation to enjoy greater compliance and control when it comes to vendors, contracts, regulations, buyers and accounts payable.

Cost of ownership 52

Cost of ownership Real-time Visibility Purchase orders Procurement strategies 52

Let's Talk Supply Chain

JANUARY 11, 2023

Today I’m joined by Nipendo , a forward-thinking software brand that is on a mission to improve how buyers and suppliers work together to combat Source-to-Pay inefficiencies and costs. 17.45] The impact of facilitating buyers and suppliers to work more successfully together, at a business and industry level.

Buyers 52

Buyers Suppliers supply chain budgeting supply chain software solutions 52

Positive Purchasing

APRIL 6, 2023

He’s an experienced leader with a proven history of success across multiple industries, especially in healthcare and IT procurement. Kris describes himself as a “seeker of truth”, and here he takes a look at the tech landscape in procurement – and in particular, data. Who’s watching those settings? The answer is – probably.

Data 105

Data supply chain software solutions Supply chain Procurement 105

Planergy

JUNE 30, 2022

Accounting Financial Reporting Technology & Software. The 8 Best Financial Management Tools Recently on the blog, we talked about financial planning and analysis (FP&A) software. Cristian Maradiaga. King Ocean. Book a Live Demo. How AP can improve relationships with your key suppliers. Download Free Copy. Written by.

Management 52

Management Real-time Visibility Budget Purchase orders 52

Zycus Cognitive Procurement

NOVEMBER 24, 2021

Furthermore, AP teams have a complex mandate as they interact with vendors and other business functions. Let’s first understand the 5 most frustrating challenges and then explore how Zycus’ advanced AP Automation Software helps in resolving these challenges. Like staying on top of all things procurement? Slow Processing.

e2e 40

e2e Purchase orders Purchasing Vendor relationships 40

Zycus Cognitive Procurement

JANUARY 24, 2023

Shortages in raw materials, energy, shipping, and labor required that CPOs performed at the top of their game to ensure business continuity. So, the question remains: What are the key challenges and agenda items for procurement leaders in 2023, and how will they adapt to these challenges? But how can this be achieved?

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Procurify

JUNE 21, 2022

In fact, 75 percent of companies claim the supply chain disruptions have had negative or strongly negative impacts on their businesses. In order to float and not sink in the current business environment, companies may need financing solutions to deliver purchase orders. Not having the funds to pay a supplier to fulfill large orders.

Purchase orders 52

Purchase orders Purchasing Supply Chain Optimization Suppliers 52

IBM Supply Chain Blog

APRIL 26, 2023

Scaling-up can also be done in software by adding more threads, more connections or, in cases of database applications, increasing cache sizes. Scaling-up can also be done in software by adding more threads, more connections or, in cases of database applications, increasing cache sizes. What is scale-up (or vertical scaling)?

Demand 68

Demand Networking Budget Management 68

HICX

JANUARY 27, 2023

Supplier Lifecycle Management (SLM) allows organizations and their suppliers to develop and cultivate more productive and mutually beneficial business relationships. This is lucrative for organizations as suppliers will be more efficient and streamlined and will recognize the mutually beneficial aspects of the working relationships.

Suppliers 52

Suppliers Management supply chain software solutions Supply Chain Efficiency 52

The Procuretech Podcast

OCTOBER 3, 2022

We're continuing our series of interviews with industry experts and thought leaders to get their take on digital procurement. What started out as a personal blog quickly grew into a brand in its own right, taking on the name SCM Dojo in July 2018. What impacts has Muddassir seen from disruptive procurement technology?

supply chain software solutions 40

supply chain software solutions supply chain budgeting Supply chain Supply 40

EazyStock

NOVEMBER 19, 2020

Yet inventory replenishment planning – done correctly – can have a really positive impact on your business in terms of improving operational efficiency, reducing supply chain risk and enhancing bottom line profitability. Stock replenishment can have a significant effect on a business’s inventory risk and consequential financial situation.

Supply Chain Optimization 98

Supply Chain Optimization Supply Chain Efficiency supply chain software solutions Inventory 98

Zycus Cognitive Procurement

SEPTEMBER 28, 2022

A 3-way invoice matching process is a way to make payments pledged to the suppliers while shielding the business from any sort of risk of unnecessary spending. First, we need to understand the procure-to-pay process – . First, we need to understand the procure-to-pay process – . 3-Way Invoice Matching Process.

Real-time Visibility 40

Real-time Visibility Purchase orders Purchasing Suppliers 40

Zycus Cognitive Procurement

JULY 27, 2021

Procure to pay automation has come a long way in the world of procurement. Once upon a time in procurement, a Chief Procurement Officer (CPO) may have been able to make decisions by relying on their instinct; after all, instinct is simply the product of years of distilled experience. How” and “When” to start?

Procurement 40

Procurement Real-time Visibility Chief Procurement Officer e2e 40