World of Procurement blog

APRIL 23, 2024

This blog explores the types of technologies revolutionizing procurement, their benefits, and the return on investment (ROI) they deliver. Spend Analysis Tools These tools collect and analyze procurement data, offering insights into spending patterns, supplier performance, and potential cost savings.

Supply Chain Efficiency 52

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

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

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 84

Collaboration e2e Budget Leadership 84

IBM Supply Chain Blog

DECEMBER 8, 2023

This holiday season, shoppers are ready to shop again and they’re prepared to spend even more. This gives you clear visibility into the whole IT environment through dynamic infrastructure visualizations and opens the door for AI to suggest remediation actions. Last year, almost 200 million people shopped on Black Friday.

e2e 120

e2e Real-time Visibility Management Data 120

Barkers Procurement

OCTOBER 18, 2023

In this blog we review why robust procurement is so crucial for SMEs. Procurement makes spending more visible Procurement can help to achieve spend visibility. Not all employees may know the budgets and whether it’s possible to make a spend when invoices come through.

Import 52

Import Supply Chain Efficiency Procurement supply chain budgeting 52

Supply Chain Game Changer

SEPTEMBER 22, 2022

Without them, it will be more difficult to manage spending, control budgeting, vet your suppliers, and do what you need to do to get the most out of your procurement process. Spend Visibility. Spend visibility is a pretty big deal when it comes to procurement or any type of invoicing management for that matter.

supply chain budgeting 101

supply chain budgeting Real-time Visibility supply chain software solutions Procurement 101

Procurement Tactics

JULY 20, 2023

This integration enables businesses to have real-time visibility into order status, inventory levels, and supplier performance, enabling them to make informed decisions and respond quickly to changing market demands. By having records of past spending, businesses can estimate costs and make informed decisions to ensure profitability.

supply chain software solutions 134

supply chain software solutions Suppliers Management Real-time Visibility 134

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

APRIL 15, 2024

For example, as manufacturers, we create a knowledge base, but no one can find anything without spending hours searching and browsing through the contents. This enables real-time visibility into process states (normal/abnormal), alleviates frequent process obstructions, and detects and predicts golden batch.

Real-time Visibility 103

Real-time Visibility Supply Chain Efficiency Agile and Lean Supply Chain Data 103

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. They have all the data they need, without the noise.

Supply Chain Efficiency 52

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

ivalua

APRIL 13, 2021

In part 1 of this blog I looked at how procurement can actually create new revenue opportunities. The top being visibility into and timeliness of payments. Extend visibility into sub-tiers. Extend that visibility in depth and map out the suppliers your suppliers depend on to provide you the goods/services purchased.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Procurement Supply Chain Efficiency Collaboration 130

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

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. You’ll find automated full-stack visibility, one-second granularity and three seconds to notify. It’s time for IT to go from reactive to proactive and preventative.

Real-time Visibility 96

Real-time Visibility Cost optimization Budget Data 96

World of Procurement blog

APRIL 23, 2024

Its functionalities range from supplier management, purchase order management, invoice management, spending analysis, to electronic tendering, and contract management. Spend Analysis Tools: Provide insights into spending patterns, helping businesses identify savings opportunities and improve procurement strategies.

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency supply chain budgeting Procurement 52

World of Procurement blog

APRIL 23, 2024

Its functionalities range from supplier management, purchase order management, invoice management, spending analysis, to electronic tendering, and contract management. Spend Analysis Tools: Provide insights into spending patterns, helping businesses identify savings opportunities and improve procurement strategies.

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency supply chain budgeting Procurement 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. Within this domain, spend analysis plays a pivotal role in enabling informed decision-making and optimizing procurement processes.

Real-time Visibility 40

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

Arkestro

JUNE 6, 2023

Resources / Blog / What Does Finance Think of Procurement? In this blog we’ll break down procurement from the finance perspective, addressing common metrics, challenges, and solutions. Efficiency Both CFOs and CPOs prioritize efficient spending down to the last dollar. What Does Finance Think of Procurement?

Supply Chain Efficiency 52

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

Procurement Tactics

JUNE 28, 2023

These tools allow for automated, integration to suppliers and visibility in procurement data at any time. Organizations can obtain visibility of trends in procurement and supplier performance, as well as demand patterns with the use of modern analytical tools and technologies.

Supply Chain Efficiency 178

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

IBM Supply Chain Blog

AUGUST 16, 2023

Gartner predicted that cloud spending would reach nearly $600 billion by the end of 2023. However, organizations have considered slowing cloud spend because of recent economic headwinds. Optimizing cloud spend is not only about cutting costs; it’s about making decisions that produce optimal results for every use case.

Real-time Visibility 69

Real-time Visibility Budget Cost optimization Demand 69

Empowering CPO

JUNE 26, 2023

As a leading procurement services company specializing in spend analysis, EmpoweringCPO understands the vital role that insightful data plays in driving informed decision-making and optimizing procurement processes. That’s why we are dedicated to providing our clients with the most up-to-date insights and expertise in spend analysis.

Real-time Visibility 40

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

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 ease of use, simple implementation, and visibility across robust procurement workflows are unmatched with end-to-end platforms. Learn more about how Corcentric can help you.

e2e 52

e2e supply chain budgeting supply chain software solutions Strategic sourcing 52

Procurement Leaders

JANUARY 8, 2024

The results of the transformation were profound: a 50% reduction in the number of days to delivery, as well as much tighter financial controls and supplier visibility in a sector where “because it’s a matter of life and death, speed is of the essence”.

Real-time Visibility 130

Real-time Visibility Procurement Inventory Suppliers 130

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

Zycus Cognitive Procurement

APRIL 18, 2022

And it holds good for our Spend Management as well! When it comes to S pend A nalysis , it has been too easy to recognize the most visible parts of the business. After all, it makes sense to keep spends that directly impact your business on a tight leash, right? These are known as Maverick spends. Andy Benoit.

Data 40

Data Real-time Visibility Suppliers Purchasing 40

ivalua

MARCH 28, 2019

The huge growth in the use of technology has been the most visible part of that developing picture. There may be different models in use, but there is a pretty well-accepted logical methodology behind how organisations approach their management of major spend areas. Until recently also Managing Editor, Spend Matters UK/Europe.

Procurement 167

Procurement Agile and Lean Supply Chain Real-time Visibility Innovation 167

ivalua

DECEMBER 6, 2022

Many large organizations implement a Procure to Pay platform with the aim to deliver efficiency, visibility, simplicity, and compliance. Calculating value leakage is a complex assignment, but we estimate that value leakage amounts to 2-4% of total spend reflected by: . Over, early, and late payments . Maverick buying .

e2e 130

e2e Suppliers Procurement Contract 130

Arkestro

FEBRUARY 6, 2024

Resources / Blog / How Predictive Procurement Orchestration Helps Unlock Savings in 60 Days How Predictive Procurement Orchestration Helps Unlock Savings in 60 Days What if you could implement a procurement platform that was so easy to use, your team could be up and running after just one hour of training? You can unsubscribe at any time.

Competitive bidding 52

Competitive bidding Procurement Real-time Visibility Supply Chain Efficiency 52

Arkestro

MARCH 27, 2024

Resources / Blog / Unleashing the Power of Procurement Buyers: Delving into this Impactful Role Unleashing the Power of Procurement Buyers: Delving into this Impactful Role Buyers have always played an important role in the procurement industry, helping organizations obtain goods and maintain a careful balance of speed, cost-efficiency, and quality.

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 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 71

Cost optimization Real-time Visibility Price Budget 71

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

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

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

Planergy

MARCH 2, 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.

supply chain budgeting 52

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

Supply Chain Trend

APRIL 24, 2019

Lack of visibility. The behavioural weaknesses – lack of pro-activity and accountability should be no surprise to me or the readers of my blog. The time might have come to change that and spend some time on mental training. Lack of accountability. Or maybe as a mental toughness coach I’m just biased!

Supply Chain Optimization 107

Supply Chain Optimization Supply chain Supply Leadership 107

Future Purchasing

OCTOBER 4, 2022

The real value is spending some quality time with your stakeholders to discuss potential categories to focus on and identify resources required to make the cross-functional working more effective. Spend : Profile historic and future spend profiles for all major categories, segmenting by business units and major suppliers as a minimum.

Category management 52

Category management Collaboration Real-time Visibility Management 52

Barkers Procurement

JANUARY 26, 2024

Enhanced spend and supply base information through robust analytics helps make better decisions, and even exploring the possibilities of the creation of a digital supply chain ‘twin’ can provide valuable insights through scenario planning. We combine spend analytics with professional expertise to deliver excellence for our clients.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Procurement e2e 52