Procurement Freelancers

MAY 1, 2023

To sustain a company’s operational performance and effectively control spending, a procurement plan is necessary.… … The post Implementing Effective Procurement Strategies With A Purchasing Consultant first appeared on Procurement Blog | Procurement & Supply Chain News.

Procurement strategies 81

Procurement strategies Purchasing Strategy Procurement 81

ivalua

FEBRUARY 10, 2023

S2P and Mitigating Effects of Inflation One way of mitigating these effects is through S2P solutions – providing visibility into a company’s spend data across all categories of spend and help identify opportunities for cost savings through better supplier management techniques.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Procurement Leaders

JUNE 20, 2023

Evolving category maturity in procurement First, directs and commodified markets are subject to greater oversight and control. Where goods can be easily bundled into larger contracts, the business relinquishes control to procurement to leverage the opportunities of scale. This often occurs in a (relatively) consistent order.

Procurement team 147

Procurement team Procurement Influencing Buyers 147

Procurement Tactics

JULY 2, 2023

Budget Control When it comes to maintaining budgetary control throughout the entire procurement process, job orders are crucial. This enables necessary adjustments to be carried out in line with the budgetary constraints, therefore, helps prevent potential excessive spending. A clear budget 4.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

IBM Supply Chain Blog

OCTOBER 24, 2023

Organizations need simplified, integrated and automated solutions to help optimize IT spend, improve operations and drive greater financial returns. IBM Consulting’s vision for the future of FinOps We at IBM Consulting understand that it is hard to manage, predict and optimize cloud spending.

Collaboration 83

Collaboration e2e Budget Leadership 83

IBM Supply Chain Blog

MARCH 27, 2024

One of the more common Scope 3 calculation methodologies that organizations use is the spend-based method, which can be time-consuming and resource intensive to implement. Within USEEIO, goods and services are categorized into 66 spend categories, referred to as commodity classes, based on their common environmental characteristics.

Supply Chain Efficiency 80

Supply Chain Efficiency supply chain software solutions Purchase orders Data 80

IBM Supply Chain Blog

OCTOBER 26, 2023

That much investment has necessitated the FinOps movement , a cloud financial management discipline designed to bring financial accountability to the variable, consumption-based spend model of cloud. How the products work Cloudability provides organizations with data, insights and recommendations to help better understand their cloud spend.

Cost optimization 72

Cost optimization Collaboration Data Innovation 72

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.

Procurement 52

Procurement Procurement team Quality Demand Planning 52

ivalua

JUNE 6, 2019

If this foundation does not exist or if it is shaky, then buyers don’t know how much the company is spending with a given supplier, let alone how they can improve the efficiency or impact of a given spend category. How 100% spend insight is not the same as 100% spend under management.

Suppliers 100

Suppliers Supplier consolidation Supply Chain Efficiency Data 100

IBM Supply Chain Blog

NOVEMBER 10, 2023

One of the challenges for IT, though, is controlling cloud consumption costs while moving workloads. A recent survey 1 found that cloud over-spending was higher in 2022 than in the previous year: 56% of companies surveyed admitted that spending on public cloud was significantly over budget, some by over 20% to 30% of their intended spend.

Demand 74

Demand Cost optimization Purchasing Budget 74

IBM Supply Chain Blog

OCTOBER 3, 2023

Cloud costs are out of control, and teams spend too much time fixing instead of innovating. And organizations estimate that 32% of cloud spend is wasted. Get started IBM Instana and IBM Turbonomic provide real-time observability and software-driven control that everyone and anyone can use.

Real-time Visibility 94

Real-time Visibility Cost optimization Budget Data 94

Procurement Leaders

MARCH 11, 2024

Some CPOs will be midway through a journey to maturity, perhaps centralising to gain greater control of spend to illustrate the savings impact procurement can make. Indeed, half of participants were in the middle of a rollout… The logical question is, again, why?

Influencing 130

Influencing Procurement Sustainability Data 130

IBM Supply Chain Blog

APRIL 24, 2024

These are just some examples of how organizations support data privacy , the principle that people should have control of their personal data, including who can see it, who can collect it, and how it can be used. These access controls reduce the chances that the data is used for unauthorized or illegal purposes.

Data 85

Data Real-time Visibility Risk Networking 85

Arkestro

OCTOBER 5, 2023

Construction Strategize Your Construction Spend with Arkestro Get in touch Our solutions Building Your Vision with Arkestro: Your Trusted Procurement Partner in Construction and Engineering Construction and engineering procurement can be complex and challenging, involving multiple stakeholders crucial for project success.

Bidding 52

Bidding Quality Sustainability Collaboration 52

World of Procurement blog

APRIL 23, 2024

Record Keeping and Analysis Maintaining detailed records of all P2P transactions is crucial for financial accounting, auditing, and analyzing spending patterns to identify potential savings or efficiencies.

Procurement 52

Procurement Purchase orders Needs identification Purchasing 52

World of Procurement blog

APRIL 23, 2024

Record Keeping and Analysis Maintaining detailed records of all P2P transactions is crucial for financial accounting, auditing, and analyzing spending patterns to identify potential savings or efficiencies.

Procurement 52

Procurement Purchase orders Needs identification Purchasing 52

ivalua

JUNE 7, 2021

With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurement teams to prioritise supplier innovation and revenue growth opportunities. . Leaders demonstrated their ability to respond to the many shocks incurred, keeping supplies flowing and costs under control.

Strategy 130

Strategy Procurement Collaboration Innovation 130

Procurify

JULY 21, 2022

Why companies should invest in spend management during a recession. Extending runway, aggressively monitoring costs, and locking down spend are the easiest and quickest ways for organizations to adjust to unexpected downturns. These actions fall into an emerging framework known as spend management. What is our spend policy?

Spend management 52

Spend management Management Budget Purchase orders 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 is often regarded as the problem child of an organisation’s spend profile. Tail spend can cover Indirect and Direct categories. Why should you look to control your Tail Spend?

Spend management 52

Spend management Import Management Eprocurement 52

IBM Supply Chain Blog

JANUARY 9, 2024

In fact, IDC estimates that IT infrastructure-related spending will grow by a modest 4.5% Successful hybrid cloud strategies require a unified control and management plane, enabling automated deployment of applications across various environments, comprehensive observability and improved cyber resiliency.

Data 72

Data Demand Innovation Strategy 72

ivalua

APRIL 8, 2021

CEOs increasingly understand that how they spend and manage their suppliers can support a broad range of objectives. And with business priorities shifting from damage control to restoring growth as we see the light at the end of the Covid-19 tunnel, the time could not have been better. But there is one general exception.

Procurement 130

Procurement Innovation Price Suppliers 130

World of Procurement blog

APRIL 23, 2024

Understanding Procurement Technology Procurement technology refers to the software and systems that automate and streamline procurement processes for businesses, covering everything from sourcing materials and services to managing contracts and analyzing spending. Examples include SAP Ariba and Coupa.

Procurement 52

Procurement Supply Chain Efficiency Real-time Visibility Purchase orders 52

IBM Supply Chain Blog

JULY 5, 2023

However, cloud services costs can be higher than anticipated, so monitoring and optimizing your cloud spend is critical. Whether you use IBM Cloud, Amazon AWS, Google Cloud, Microsoft Azure or some combination of platforms, it’s essential to understand, evaluate and optimize what you spend on cloud operations.

Cost optimization 69

Cost optimization Real-time Visibility Price Budget 69

Procurement Tactics

JUNE 28, 2023

Budget and Cost Control Procurement expenditures, monitoring variations in the cost and identifying opportunities for savings, and avoiding unnecessary costs shall be monitored in accordance with the approved budget. Supplier Performance The quality, timeliness, and adherence to contractual commitments of suppliers shall be monitored.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Strategic Sourceror

OCTOBER 27, 2022

" Shoplifting skyrocketed in 2021 for retailers and is prompting a response to get it under control. The report found nearly 45% of employers have increased their spending on loss prevention solutions and over 60% are spending more on technology, such as anti-theft equipment and other tech-enabled assets designed to curb retail crime.

Strategic sourcing 107

Strategic sourcing Strategic sourcing Purchasing Procurement 107

IBM Supply Chain Blog

NOVEMBER 21, 2023

This blog will walk through the recommended options for running MAS on Azure and describe how the IBM, Red Hat and Microsoft Azure components come together and provide a solid foundation for running MAS. This option also provides complete control over the underlying OCP but requires the customer to install, monitor and maintain OCP.

Management 51

Management Inventory Networking Demand 51

Barkers Procurement

OCTOBER 18, 2023

In this blog we review why robust procurement is so crucial for SMEs. The company will have more control over the process and be able to ensure consistent quality and accountability from its suppliers. Procurement makes spending more visible Procurement can help to achieve spend visibility.

Import 52

Import Supply Chain Efficiency Procurement supply chain budgeting 52

Zycus Cognitive Procurement

JULY 6, 2022

However, another category of spending is just as important but often more difficult to track: indirect costs. Indirect spend includes everything from office supplies to marketing and advertising expenses. Therefore, mastering indirect spend can be crucial to your company’s success. Categorize the expenditure . Way Ahead

Category management 52

Category management Competitive bidding Raw materials Eprocurement 52

SCMDOJO

MARCH 19, 2024

In essence, a structured supply chain department as described in the blog can help you deliver the right supply chain strategy and goals which helps cost reduction, improve customer service, on-time delivery, and better working capital. Analyzes procurement data to identify cost-saving opportunities and optimize spending.

Supply Chain Optimization 75

Supply Chain Optimization Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 75

World of Procurement blog

APRIL 23, 2024

Spend Under Management Measures the amount of spend that the procurement team actively manages, aiming for higher percentages for better control. Cost Avoidance Quantifies the efforts that prevent additional costs from being incurred, without necessarily reducing current costs.

Procurement 52

Procurement Supply Chain Efficiency Procurement team Quality 52

World of Procurement blog

APRIL 23, 2024

Spend Under Management Measures the amount of spend that the procurement team actively manages, aiming for higher percentages for better control. Cost Avoidance Quantifies the efforts that prevent additional costs from being incurred, without necessarily reducing current costs.

Procurement 52

Procurement Supply Chain Efficiency Procurement team Quality 52

ivalua

APRIL 13, 2021

In part 1 of this blog I looked at how procurement can actually create new revenue opportunities. While some factors, such as company size and brand, are out of your control, the top factors according to a Forrester Consulting study on collaboration are. Success requires the following: Gain control of enterprise supplier data.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Procurement Supply Chain Efficiency Collaboration 130

World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Inventory Management : Understanding and controlling inventory levels for optimal business performance. Analytical Thinking : Understanding and interpreting data to make informed purchasing decisions.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Inventory Management : Understanding and controlling inventory levels for optimal business performance. Analytical Thinking : Understanding and interpreting data to make informed purchasing decisions.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

Planergy

MAY 30, 2023

Clients and results More Customers We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with Planergy. How to gain visibility and control of your indirect spend. How to gain visibility and control of your indirect spend.

Real-time Visibility 52

Real-time Visibility Management Purchase orders Purchasing 52

World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Value-add : Procurement aims to add value by optimizing processes, consolidating spend, and building supplier relationships.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

IBM Supply Chain Blog

FEBRUARY 12, 2024

Today, this strategy is visible in the My Disney Experience tool, which places the control in the hands of the customer to create their dream Disney trip. Free to join, this program recognizes shoppers into tiers based on their annual store spending—Insiders, VIB, and Rouge.

Sustainability 76

Sustainability Strategy Real-time Visibility Data 76