Procurement Tactics

JULY 4, 2023

Procurement Strategy Take the lead with our proven 5-step procurement strategy 3. Sustainable Procurement Maintain high profitability while moving toward sustainability 4. So, let’s dive in and learn how to reduce procurement costs. Negotiation Course Learn from industry experts who negotiated billion $ deals 2.

Raw materials 209

Raw materials supply chain software solutions supply chain budgeting Price 209

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.

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

Arkestro

APRIL 23, 2024

Resources / Blog / Embracing AI and Predictive Procurement to Overcome Industry Challenges Embracing AI and Predictive Procurement to Overcome Industry Challenges Today’s procurement teams are faced with a host of challenges: Managing more spend with fewer headcount. Enhancing supplier performance.

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Procurement Procurement team Quality Demand Planning 52

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. 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

World of Procurement blog

APRIL 23, 2024

Welcome to another insightful journey into the world of procurement. Today, we transcend the ordinary to explore a critical instrument at the heartbeat of procurement processes: the Master Services Agreement (MSA). When Can an MSA be Used by Procurement? Seeking to reduce the negotiation time for each project or purchase.

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Procurement Innovation Negotiation Collaboration 52

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. My Udemy course "Value-based Procurement."

Contract administration 52

Contract administration Procurement Category management Strategic sourcing 52

Procurement Insights

DECEMBER 30, 2023

EDITOR’S NOTE: Who are the Next Gen (Procurement) Rebels? Check out the article Procurement’s Most Wanted List: Who Are The Next Gen Rebels? The best way to predict or anticipate the future of procurement is to talk to those professionals who want to influence the future versus being a spectator of it. Good procurement.

Procurement 78

Procurement Supply Chain Efficiency Risk Innovation 78

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!

Cost of ownership 79

Cost of ownership Procurement Category management supply chain software solutions 79

The Good Spending

AUGUST 17, 2023

This post will look at a sourcing strategy from an uncommon perspective, trying to prove its vital importance for the procurement profession. It involves making deliberate decisions about where to source these items, how to engage with suppliers, and how to manage the procurement process to achieve optimal results.

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Sourcing Strategy Import Strategic sourcing 52

The Good Spending

FEBRUARY 21, 2022

The New Sales Imperative: Changing the Paradigm In this blog, I usually call fellow procurement colleagues to embrace an Agile mindset , open themselves up to suppliers with trust and transparency, and proactively seek value generation opportunities. I realized procurement shouldn't be alone on the journey to Industry 4.0.

Buyers 52

Buyers Suppliers Sourcing Procurement 52

Zycus Cognitive Procurement

SEPTEMBER 13, 2022

Are you looking to create greater value from your procurement-supplier synergies but strict sustainability & regulatory compliances, risk vulnerabilities along with political instability are bringing in new challenges for you? The framework below depicts the agenda they need to follow: Figure 2: Framework for today’s procurement buyers.

Procurement 52

Procurement Buyers Leadership Agile and Lean Supply Chain 52

Procurement Software

APRIL 16, 2024

Ensuring your procurement team has the optimal blend of procurement training is a challenge. In today’s tough economic environment, could technology enable procurement training to be delivered for less cost and more effectively? Jonathan is the CEO of UK-based procurement training company Positive Purchasing.

Procurement 52

Procurement Budget Procurement team Negotiation 52

Arkestro

NOVEMBER 16, 2023

Resources / Blog / Procurement: The True Hero of the Retail Holidays Procurement: The True Hero of the Retail Holidays It’s the most wonderful time of year! Black Friday: Then vs. Now The Black Friday of the early 2000’s predominantly functioned on hype and FOMO (fear of missing out), tactics to draw big crowds.

Procurement 52

Procurement supply chain software solutions Raw materials Supply Chain Efficiency 52

Zycus Cognitive Procurement

SEPTEMBER 28, 2022

First, we need to understand the procure-to-pay process – . The first step in this process is to place the order with a supplier through a purchase order (PO). The invoice contains all the relevant details such as a description of goods, purchase order number, quantity, unit prices, etc. FTE per billion vs. 17 FTE for peers).

Real-time Visibility 40

Real-time Visibility Purchase orders Purchasing Suppliers 40

Planergy

MARCH 2, 2023

In this blog post, we’ll cover what tail spend analysis is, its benefits, how to develop a plan for it, how to analyze data and trends, and how to best leverage tail spend analysis to improve efficiency. Defining Tail Spend Tail spend is a term used to describe the small, often overlooked purchases made by an organization.

supply chain budgeting 52

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

Planergy

OCTOBER 20, 2022

Knowing when to use which document for what purpose can dramatically improve your procurement process. If you work in procurement, you know that there are a lot of acronyms to keep track of. In this blog post, we’ll break down the meaning of five commonly used procurement acronyms: RFI, RFP, RFQ, ROI, and RFT.

Buyers 52

Buyers Supply Chain Efficiency Suppliers Price 52

The Thomas Blog

JUNE 14, 2022

Segment your email lists to target specific users who have shared their contact information with you; for instance, design engineers may receive emails with more technical data than an email that would interest procurement managers. Learn More: Display vs. Search vs. Social Ads vs. PPC In Paid Advertising.

Buyers 52

Buyers Sourcing Suppliers Purchasing 52

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. Source-to-Pay Digitization Diagnostic.

Procurement 40

Procurement Real-time Visibility Chief Procurement Officer e2e 40

The Thomas Blog

AUGUST 2, 2022

In a recent Industrial Buyer's Search Habits Survey , one purchasing supervisor that "having more online information like specifications, pricing, lead time, and stock levels online are important when I'm vetting new suppliers and will make my job easier.". Not sure where to start?

Buyers 144

Buyers Quality Ethics Export 144

ivalua

JULY 27, 2015

It’s true that the mental models and naming conventions we have been using to define procurement processes and categorize solutions are limited in definition, business process coverage, and scope. So let’s forget about upstream vs. downstream and value creation vs value capture. I’m going with Supplier Value Management.

Leadership 100

Leadership Suppliers Strategic sourcing Strategic sourcing 100

Planergy

JANUARY 19, 2024

Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. As a procurement professional, you know the importance of ensuring that all materials and services delivered by vendors meet or exceed your standards for quality and performance. What's Planergy? What is Vendor Analysis?

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Vendor management Suppliers Quality Supply Chain Efficiency 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. Procurement is a strategic function that encompasses the acquisition of goods and services required to support an organization’s operations.

Real-time Visibility 40

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

EazyStock

MARCH 26, 2018

Through better inventory management, we’ve been able to support our stock management and procurement processes much better, which has even resulted in higher profits!” While your ERP may keep track of your inventory, EazyStock makes sure that you have the optimal inventory in stock, automates procurement and saves you time and money.

Inventory 72

Inventory Management Demand Purchasing 72

Zycus Cognitive Procurement

JANUARY 6, 2021

FTE per billion vs. 17 FTE for peers)*. Source: 2019 Purchase to Pay (P2P) Performance Study Results. The post Three ways AP automation can help organizations reduce costs appeared first on Zycus Procurement Blog. Top performers employ 5.3 To know more about how A.I.

Buyers 40

Buyers Risk Negotiation Contract 40

Supply Chain Game Changer

NOVEMBER 15, 2018

Check out What Exactly Is Procurement? And What is Purchasing? The last few years have seen a lot of real (and over) hype associated with the emergence of Software Robots (called Bots/Bot) which are disrupting the legacy procurement processes involving human interface. Table 1 : Areas of Procurement and their “Bot-ability”.

Procurement 47

Procurement supply chain software solutions supply chain budgeting Purchasing 47

Supply Chain Game Changer

NOVEMBER 7, 2019

In this post, I’d like to suggest a mapping of a digital procurement ecosystem, dive into the necessity for these functionalities, and draw some conclusions as to how these focus areas can drive performance in an overall procurement organization. Digitization vs. Digitalization. The Digital Procurement Ecosystem.

Agile and Lean Supply Chain 55

Agile and Lean Supply Chain Procurement Innovation Sourcing 55

World of Procurement blog

APRIL 23, 2024

One critical area that often comes under scrutiny is the procurement process. Procurement isn't just about purchasing goods and services; it's a strategic function that if executed well, can significantly contribute to a company's competitive advantage. Develop Your Approach: Choose your procurement methods based on analysis.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

World of Procurement blog

APRIL 23, 2024

One critical area that often comes under scrutiny is the procurement process. Procurement isn't just about purchasing goods and services; it's a strategic function that if executed well, can significantly contribute to a company's competitive advantage. Develop Your Approach: Choose your procurement methods based on analysis.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Supply Chain Game Changer

JUNE 8, 2021

I read multiple magazines and supply chain blogs to keep current. Do you want to focus on the Procurement side of things, or more on the Logistics and Planning side? Kristie Syndikus, VP Procurement at Maple Leaf Foods. Danny Wang, VP Sourcing and Procurement at Canada Goose. Lastly, stay relevant. Never forget it.

Supply Chain Efficiency 97

Supply Chain Efficiency supply chain budgeting Supply chain Leadership 97

ivalua

SEPTEMBER 13, 2020

A procure-to-pay solution offers a seamless process from point of order to payment. At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Reduced errors, fraud and risk.

e2e 204

e2e Procurement Budget Contract 204

SCMDOJO

JANUARY 17, 2024

If you’re an undeclared freshman, this is the blog post for you. They are in charge of purchasing, procurement, and sourcing. They supervise the whole operation, from forecasting demand and planning production to procurement and logistics. But what’s the difference between those career paths?

Supply chain management 70

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 70

ivalua

SEPTEMBER 13, 2020

A procure-to-pay solution offers a seamless process from point of order to payment. At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Reduced errors, fraud and risk.

e2e 147

e2e Procurement Budget Contract 147

Positive Purchasing

NOVEMBER 1, 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. Here is how our conversation went… What is a Smart Next Step for a CPO in the Early Stages of a Procurement Tech Journey?

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Procurement supply chain budgeting Category management Budget 111

Planergy

JULY 14, 2023

Download Free Copy P-Cards: What Are Corporate Purchasing Cards and How Do They Work Written by Keith Murphy 18 min read Expense Management Expense Reporting Technology & Software Download PDF IN THIS ARTICLE What Are P-Cards? This is where procurement cards, also known as P-cards, come in. How Do P-Cards Work? What Are P-Cards?

Purchasing 52

Purchasing Purchase orders Strategic sourcing Strategic sourcing 52

NLPA (Next Level Purchasing Association)

FEBRUARY 14, 2024

A well-defined procurement strategy is the key to optimizing your procurement process. This blog post dives deep into procurement strategy, explores implementation methods, and equips you to craft a plan for success Defining Procurement Strategy Procurement strategy goes beyond just buying things.

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Procurement strategies Supply Chain Optimization Strategy Procurement 52

Una

SEPTEMBER 27, 2022

If you did, you’re reading this blog from an exotic beach, sipping a pina colada. . Most companies cycle through and purchase new equipment every three to five years. As we mentioned in a previous blog post , the pandemic caused many companies to jump into the cloud sans parachute. Ultimate Guide to IT Procurement.

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Budget Inventory Contract Purchasing 97

Procurement Insights

OCTOBER 20, 2023

– To learn more, read PeerSpots’ detailed Amazon AWS vs. Oracle Cloud Platform Report (Updated: September 2023). I was reminded of this disjointed history between what buyers really needed in the way of procurement tools and what ERP vendors tried to offer when I came across a post from the In The Cloud blog.

Real-time Visibility 65

Real-time Visibility Buyers Eprocurement Procurement 65