Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Spend Matters

OCTOBER 14, 2024

and its solution for Sourcing, Contracts, Procurement, AP Automation, Vendor Onboarding, Budgets, Reporting & Analytics and Vendor Risk Management. Companies seeking support in areas across the source-to-pay (S2P) process can struggle with managing multiple tools. Here’s why Zapro.ai To potential buyers — Zapro.ai

Sourcing 117

Sourcing Budget Market analysis Risk management 117

IBM Supply Chain Blog

JUNE 10, 2024

In this blog, we’ll explore how businesses can use both on-premises and cloud XaaS to control budgets in the age of AI, driving financial sustainability without compromising on technological advancement. Embracing a culture of experimentation helps businesses drive innovation while minimizing financial risk.

Budget 62

Budget Innovation Demand Sustainability 62

Spend Matters

APRIL 15, 2025

Despite the positive impacts of new technological opportunities, procurement leaders have cited difficulty maintaining data cleanliness, strict budgets, change management with stakeholders, and aging technology as the main barriers to implementation.

Real-time Visibility 72

Real-time Visibility Procurement e2e Supply Chain Efficiency 72

Bonfire

MARCH 17, 2023

Keep reading for a checklist to help you optimize procurement compliance and internal risk management. Educate on the benefits to both them and the organization if the rules are followed—such as spending budget efficiently, increased transparency, avoiding legal issues, streamlined workflows, etc. Everyone has to buy in.”

Risk management 52

Risk management Risk Management Procurement 52

Jaggaer

MARCH 7, 2025

Why Modernizing Government Procurement Matters Government procurement is a complex process, often involving multiple stakeholders, large-scale budgets, and stringent regulatory requirements. But what does the future hold for public procurement, and how can technology fine-tune the process to perfection?

Supply Chain Efficiency 52

Supply Chain Efficiency Real-time Visibility Procurement Supply Chain Optimization 52

Spend Matters

APRIL 17, 2025

Also, not having a proper requirement management process negatively impacts a projects budget, schedule or quality. The fact that there is often a misunderstanding of what technology can do, and, if you add on top of that, a weak business case, then it is no wonder that buying the right technology is often difficult for organizations.

Change management 111

Change management Negotiation supply chain budgeting Budget 111

ivalua

FEBRUARY 25, 2021

Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care?

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Skill Dynamics

JANUARY 14, 2025

A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation. They can improve performance, lead to stronger strategic alignment, and enhance the career development opportunities for your procurement staff.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

Jaggaer

MARCH 20, 2025

Community colleges, public universities, and private institutions alike must navigate the potential for budget cuts, shifts in federal aid programs, and changing regulatory requirements. Budget Shortfalls First, the good news. These could be amended, scrapped or introduced by current and future administrations.

supply chain budgeting 52

supply chain budgeting Procurement Budget Supply Chain Efficiency 52

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. Risk Mitigation In risk management, there is a key role to be played by procurement monitoring.

Supply Chain Efficiency 178

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

Planergy

FEBRUARY 24, 2025

This involves consulting educators, administrators, and department heads to identify specific needs, performance expectations, and budget constraints. Though it makes budgeting a bit more complex , its often worth it. This improves the purchasing power of the group compared to the individual.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Procurement Tactics

OCTOBER 18, 2022

Many companies benefit from the software as it offers improved visibility into the supply chain and enables cost traceability for enhanced budget management. . ProcureWare is an e-procurement system that offers sourcing, contract management, and supplier management functionalities.

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

Spend Matters

APRIL 4, 2024

Compliance and risk management is a growing and interesting use case of GenAI for procurement, finance and, of course, legal operations. Its uptake is only going to grow as organizations begin to rely on its power to tackle big business issues, such as third-party risk management (TPRM).

Real-time Visibility 112

Real-time Visibility Management e2e Risk management 112

Spend Matters

FEBRUARY 5, 2025

Driving change with effective change management strategies You dont need a digital strategy. Lets explore these aspects.

Procurement 115

Procurement Change management Strategy supply chain budgeting 115

Planergy

MARCH 24, 2025

Software like Blackbaud Financial Edge NXT, Sage Intacct, NetSuite ERP, and QuickBooks offers tailored solutions for educational financial operations, including fund management, compliance, and streamlined reporting. Look for options like income statements, budget analysis, and grant usage summaries. Real-time budgeting tools.

Budget 52

Budget Spend management Price Data 52

SCMDOJO

APRIL 15, 2025

This structure adds a legal buffer while allowing for operational flexibilitymaking it a smart foundation for risk management. Dont Put All Your Products in One Basket: Diversification & Supplier Risk Management If your entire supply chain depends on a single supplier, youre one hiccup away from disaster.

Agile and Lean Supply Chain 66

Agile and Lean Supply Chain Supply Chain Efficiency supply chain budgeting supply chain software solutions 66

Procurement Tactics

MARCH 23, 2023

In this sourcing phase, you will need to gather all the information regarding the budget, lead times, and order quantities. Strong contract risk management Many procurement professionals give more attention to identifying the right suppliers and negotiating the terms and conditions of the contract.

Contract 156

Contract Sourcing Purchase orders Bidding 156

ivalua

AUGUST 5, 2020

Line level multi-tax treatment and budget allocation templates that reduce effort. With the solution validating Tax and Budget allocations everything is kept quick, simple and touchless. AP Automation offers streamlined Budget & Tax Treatment. Enables multiple budget allocations at the Line Level.

Budget 130

Budget Buyers Purchase orders Collaboration 130

Procurement Tactics

JULY 17, 2023

It can also help to protect businesses from legal risks. To manage your contracts , it does not necessarily mean that you need a contract management tool. Lastly, contract management tools assist with risk mitigation and compliance. You want a tool that fits your budget and gives you the best value for your money.

Contract management 189

Contract management Contract Management Negotiation 189

Jaggaer

MARCH 24, 2025

These procurement technologies empower teams to move beyond traditional methods, using data-driven insights for smarter sourcing, demand forecasting, and risk management. Impact on Procurement: Spend analytics give CPOs visibility into spending patterns, supplier performance, and inefficiencies.

Procurement 52

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

Spend Matters

JULY 24, 2023

When asked how CPOs would spend additional budget, the ‘Followers’ in the survey said their first choice would be hiring more FTEs, whereas the leaders or ‘Orchestrators of Value’ (who have more fully implemented automation) cited analytics as a priority investment (with external intelligence second). in the 2021 study to 10.9%.”

supply chain budgeting 98

supply chain budgeting Budget Agile and Lean Supply Chain Risk 98

Procurement Templates

JUNE 18, 2023

Supplier collaboration: Engage in collaborative discussions with suppliers to explore ways to manage and mitigate inflationary pressures together. Risk management: Implement robust risk management practices that address inflation-related risks.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Procurement Tactics

OCTOBER 13, 2022

A strategic sourcing manager is common in large enterprises with a huge procurement budget and works with various suppliers that are in different places. . Now that we cleared the confusion, strategic sourcing managers are evidently focused on strategic sourcing. Skills Necessary to be a Strategic Sourcing Manager.

Strategic sourcing 200

Strategic sourcing Strategic sourcing Sourcing Management 200

Planergy

MARCH 18, 2025

Download Free Copy Supply Chain Disruptions in Schools: Challenges and Solutions Category Inventory Written by Keith Murphy 17 min read Tags Education Risk Management Supply Chain Management Last edited March 18, 2025 Download PDF KEY TAKEAWAYS Efficient school supply chains are critical for maintaining consistent educational services.

supply chain budgeting 52

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

Planergy

MARCH 19, 2025

Managing these suppliers isnt just about making purchases; it ensures smooth operations, cost savings, and quality education. However, budget restrictions and transparency requirements present challenges. What is Supplier Management? Proper risk management protects against these situations.

Suppliers 52

Suppliers Management supply chain budgeting Supply Chain Efficiency 52

Procurement Tactics

JULY 12, 2022

Understanding the sources of risk in defense procurement is lacking. . Program management approach. Budgeting sufficient contingency for risk is not implemented in practice. Enable program management and cost assurance functions. Focus on risk management and understanding. . Cross-cutting issues.

Procurement 130

Procurement Export Budget Contract 130

Spend Matters

FEBRUARY 25, 2025

To achieve true adoption, specific action needs to be taken to get people onboard, and these steps need to be defined and accounted for from the start (resources, budget, time). Adoption will not happen automatically.

Real-time Visibility 116

Real-time Visibility e2e Procurement Negotiation 116

Spend Matters

JULY 27, 2023

We recommend considering a few things to gauge your maturity levels such as the company’s goals, current procurement process, budget and resources, risk tolerances, etc. Track and manage risk Supplier onboarding can potentially introduce significant risk to a business.

Suppliers 98

Suppliers Supply Chain Efficiency Risk management Procurement team 98

The Procuretech Podcast

MARCH 12, 2024

How to get a budget for procurement tech This episode delves into the evolving procurement technology market, highlighting a trend towards niche solutions tailored to specific industries and geographies, driven by the unique procurement needs across sectors and regions.

supply chain budgeting 40

supply chain budgeting Budget supply chain software solutions Procurement 40

Skill Dynamics

FEBRUARY 4, 2025

Its also vital that you effectively manage supplier contracts to reduce risk and maximize supplier value. Rights and responsibilities should be outlined clearly from the beginning to set expectations, with proactive risk management occurring continuously to mitigate any risks that arise with individual suppliers.

Procurement 59

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 59

Procurement Tactics

OCTOBER 16, 2022

Collaboration between departments is enhanced when managers are involved in the process. Data security and risk management. Integrating a financial model in the database lessens the risks and enhances the date3 security using the cloud’s server’s built-in features such as redundancy correction and data protection. .

Real-time Visibility 130

Real-time Visibility Budget Inventory control Data 130

Supply Chain Game Changer

OCTOBER 28, 2021

Leadership acceptance, technology budget, and enhanced procurement resources are the first steps towards addressing this not-so-secret secret. Poor Data Quality, Scattered Tech Landscapes, Lacking Leadership Approval/Budgets. All along, we wonder why it’s difficult to receive a technology budget. Budget is Foundational.

supply chain budgeting 89

supply chain budgeting Procurement Supply Chain Efficiency e2e 89

Procurement Tactics

MAY 30, 2023

Knowledge about procurement Procurement managers engage in complex analytical tasks while also requiring effective negotiation abilities with suppliers. Operation Management The field of operations management is extensive, encompassing various activities that are important for a company’s operations.

Management 178

Management supply chain budgeting Procurement Negotiation 178

Procurement Leaders

JANUARY 13, 2023

The head of projects will be responsible for a large portion of that added value, with oversight of third-party risk management, sustainability and supplier diversity. The threat of a global recession next year leaves question marks over Remise’s budget and hiring plans, however, as she explains.

Procurement team 130

Procurement team Sustainability Procurement Risk 130

Spend Matters

JANUARY 10, 2024

Risk management will evolve with emerging risks Businesses are bracing for another challenging year ahead as an influx of threats hits the enterprise. This is a dramatic increase compared to recent years when chief risk officers were much less common. Economic uncertainty still looms.

Procurement solutions 67

Procurement solutions Risk management supply chain budgeting Procurement 67

IBM Supply Chain Blog

APRIL 12, 2024

However, they follow different approaches to risk management by using a risk matrix to assess risk at the start of an optimization cycle. Optimized planning results in lower outages and system downtime, and it increases the efficient use of scarce resources and budget.

Budget 81

Budget Risk Risk management Management 81