Procurement Tactics

JULY 2, 2023

Budget Control When it comes to maintaining budgetary control throughout the entire procurement process, job orders are crucial. Managers and businesses may be able to monitor their expenditures in comparison with the approved and allocated budget by indicating expected costs and financial parameters in a job order.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

NLPA (Next Level Purchasing Association)

JULY 20, 2023

The Impact on Procurement & Purchasing Teams Managing spend has a direct impact on the success of Procurement & Purchasing Teams. Resource Allocation: By strategically managing spend, teams can allocate resources in a way that aligns with the organization’s objectives and priorities.

Management 40

Management supply chain budgeting supply chain software solutions Spend management 40

Procurement Tactics

JANUARY 8, 2023

It can also help drive sustainability initiatives in your supply chain and procurement process. . The Closed Loop Spend Management. You may ask yourself, why is closed loop spend management being brought up? Allocate budgets that reflect potential social and environmental impacts and levers.

Sustainability 207

Sustainability Procurement Agile and Lean Supply Chain Supply Chain Optimization 207

Planergy

JANUARY 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Here we’ll discuss various potential supply chain disruptions and what you can do to mitigate the risks to keep your business up and running throughout whatever circumstances are thrown your way.

Risk 52

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

ivalua

MARCH 17, 2021

Office of Management and Budget (OMB) estimates federal grants to states and local governments in FY2019 totaled nearly three quarters of a trillion dollars. To put that in perspective, the US GDP that year was just over $21 trillion and federal spend was $4.4 trillion, making grants roughly 17% of the total federal budget. .

Supply Chain Efficiency 130

Supply Chain Efficiency Management supply chain budgeting Budget 130

Arkestro

MARCH 27, 2024

After years of focusing on cost reduction, the majority of procurement leaders say they plan to spend more and increase workloads in 2024, meaning procurement buyers will have more power to influence change and optimize spend across the entire supply chain. But what does a procurement buyer do, exactly?

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

Spend Matters

JANUARY 5, 2024

Its approach uses an all-in-one spend platform that combines expense management, corporate cards, travel and business accounts. Gatekeeper combines contract lifecycle management with third-party risk management, two areas that are related but usually addressed with disparate software tools.

e2e 78

e2e Procurement supply chain software solutions Contract 78

Procurify

AUGUST 11, 2022

While dealing with the ongoing inflation, companies must navigate supply chain disruptions, geopolitical issues in certain markets, labour shortages and the foggy business environment caused by the pandemic. Using effective spend management software can help you keep track of upcoming payments and revise your procurement process.

supply chain budgeting 52

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

ivalua

APRIL 28, 2023

Ivalua Spend Management Insights [ivory-search] Payment Cards FAQ: More Cash Rewards, Less Effort April 28, 2023 | | Innovation by Steve Carter Unlock your Payment Solution Organizations are rethinking their traditional payment methods as they seek to maximize savings while securely streamlining the invoicing process.

Innovation 130

Innovation Purchasing supply chain budgeting Contract 130

Procurement Software

NOVEMBER 28, 2022

This statistic comes from a recent article all about the procurement analytics software market and its potential to explode in terms of growth. Just for the record, I didn’t spend $4,500 to read it in full!). Implementation took too long and it was a costly consulting project on top of the outlay for the actual software itself.

Procurement 59

Procurement supply chain software solutions supply chain budgeting Supply Chain Efficiency 59

Procurement Software

NOVEMBER 21, 2022

The experience of COVID-19 also showed that poorly managed vendor master data contributed to some of the delivery delays and supply chain disruption. These are usually not the household names with massive marketing budgets to sponsor glitzy conferences. Typically, this is the CFO. The outlook for procuretech is bright.

supply chain budgeting 52

supply chain budgeting Chief Procurement Officer supply chain software solutions Supply Chain Optimization 52

Planergy

MARCH 2, 2023

Tail spend analysis helps companies identify areas of spend that are falling through the cracks, allowing them to make more informed decisions and achieve greater savings. Establishing Tail Spend Analysis Metrics Companies should establish metrics to measure their progress to ensure they get the most out of their tail spend analysis.

supply chain budgeting 52

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

Pipefy

OCTOBER 25, 2023

In a recent survey conducted by Pipefy, 55% of C-suite executives responded that “improved agility” was a primary benefit they expected from process automation software. The same percentage reported considered error reduction as a main driver behind their adoption of process automation software.

Innovation 52

Innovation Strategy e2e Supply Chain Efficiency 52

Planergy

DECEMBER 29, 2022

Managing the challenges with best practices, including using procurement software for the marketing spend category helps simplify your process. By finding the right partnerships and putting together a comprehensive plan, businesses can ensure they’re getting the most out of their marketing budget.

Procurement 52

Procurement Raw materials supply chain budgeting supply chain software solutions 52

Procurify

JULY 20, 2022

Before, purchasing managers often prioritized spend management. Although this is still an important part of their job, strictly working with low-cost suppliers isn’t always the best way to manage spending. Companies that adapt to supply chain volatility can swim against the tide. .

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Procurement Software

MARCH 11, 2022

This is usually measured against budget standard costs, which are based on last price paid or moving average price. These often rely on procurement professionals’ negotiation skills to avoid costs that otherwise would hit the company’s budget. Many companies only acknowledge savings based on Purchase Price Variance , or PPV.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

This is usually measured against budget standard costs, which are based on last price paid or moving average price. These often rely on procurement professionals’ negotiation skills to avoid costs that otherwise would hit the company’s budget. Many companies only acknowledge savings based on Purchase Price Variance , or PPV.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Zycus Cognitive Procurement

JANUARY 24, 2023

As per the experts “ PLAN for 2023 requires a synergy between people, process and technology aspects.” Technology: CPOs should look for an integrated platform to manage all the spending and processes, such as third-party risk, sourcing, supply chain, invoicing, contracting, and payments.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Empowering CPO

JUNE 26, 2023

Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making. Supplier Collaboration: Spend analysis fosters collaboration with key suppliers.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Planergy

AUGUST 21, 2023

Improve Visibility of Committed Spend Committed spend is part of the spend management process, which is used to manage company funds using measures such as procurement, outsourcing, and supply chain management to better meet established company spending goals.

Real-time Visibility 52

Real-time Visibility Purchasing supply chain software solutions Spend management 52

Una

JANUARY 8, 2024

You snag a bunch of budget-friendly printers without considering the long game. Company Vehicles Cost-First Crusader As the fleet manager, decide to go for the cheapest company vehicles available. Not to mention, they're guzzlers, and your fuel budget is through the roof. Financial Value Show me the money!

supply chain budgeting 52

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

Planergy

JANUARY 19, 2023

Additionally, since it requires minimal effort and resources compared to other cost analysis methods, it has become a popular choice among many businesses looking for ways to optimize their budgeting process. How Pareto Analysis Helps Your Procurement Strategy? Download PDF What’s your goal today?

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Procurement Software

JUNE 13, 2023

There doesn’t seem to be a month go by without a new solution coming onto the market offering eSourcing software as part of their offering. Knowing which solution is suited to your business and level of procurement maturity is a minefield. Which eSourcing solutions are best suited to mid-market businesses?

supply chain software solutions 52

supply chain software solutions Contract management Contract Sourcing 52

Planergy

JULY 18, 2023

Remember that this number should always be positive; if it isn’t, you may need to adjust your budget or restructure some of your debt payments to ensure adequate business liquidity. You can accomplish this by negotiating discounts with the most important suppliers in your supply chain, or finding suppliers who offer better pricing.

Import 52

Import supply chain budgeting Inventory Budget 52

Planergy

SEPTEMBER 8, 2022

Furthermore, regular assessment of supplier performance can help you identify potential supply chain risks early on so that they can be remedied before they cause major problems. Are the supplier’s costs reasonable and in line with your budget? Do you know how much you can realistically afford to spend? Related Posts.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

Procurement Software

MARCH 11, 2022

Why is spend analytics software so important? Anyhow, in this article, we’re going to take a look at: How to get a reliable spend analysis without the help of specialised spend analytics software. Some of the advantages that procurement analytics software can provide. Why a solid spend analysis is essential.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Data Category management 52

Procurement Software

MARCH 11, 2022

Why is spend analytics software so important? Anyhow, in this article, we’re going to take a look at: How to get a reliable spend analysis without the help of specialised spend analytics software. Some of the advantages that procurement analytics software can provide. Why a solid spend analysis is essential.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Data Category management 52

Procurement Software

MARCH 5, 2024

If you want to search the whole range of procurement tech companies out there beyond just startups, then check our our free software directory. Focal Point Focal Point is a growing Atlanta-based procurement startup offering a unique solution tacking three different challenges within procurement.

Real-time Visibility 52

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

Planergy

AUGUST 25, 2022

This new digital strategy also uses predictive analysis to detect patterns, and predict outcomes, while offering better risk management capability. Just as your software becomes obsolete if you don’t update it regularly, creating and maintaining a digital business model is fluid, so be sure to adapt and scale your model as needed.

Data 52

Data supply chain budgeting Purchasing supply chain software solutions 52

Planergy

JANUARY 18, 2024

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy?

Management 52

Management Procurement Supplier relationship management Real-time Visibility 52

Procurement Software

FEBRUARY 20, 2024

European procurement software startups are growing fast, and we’re constantly seeing new ones landing onto the scene. If you want to search the whole range of procurement tech companies out there beyond just startups, then check our our free software directory. Procuretech in Europe is buzzing right now.

Supply Chain Efficiency 59

Supply Chain Efficiency supply chain software solutions Procurement Real-time Visibility 59

Spend Matters

NOVEMBER 2, 2023

Travel and Expense management leveraging SAP Concur is an easy plug in for travel spend management and all spend flowing through expense reporting. AI, GenAI and Joule SAP made some announcements about SAP Joule, its GenAI-powered copilot solution.

Networking 88

Networking Spend management Suppliers Supply Chain Optimization 88

Planergy

JULY 21, 2023

You set the budget and deliverables, then work with various freelancers with a test assignment. You don’t pay for the service if no content needs to be created, so there’s no need to keep a retainer or spend money on unused services, allowing for better control over spend management.

Management 52

Management Procurement supply chain budgeting Budget 52

Pipefy

NOVEMBER 24, 2023

Many organizations have implemented software automation tools that allow them to get more done at a lower cost, but procurement is one area that has lagged behind in this trend. A single solution can and should perform as many of these steps as possible, although this goal is typically difficult to achieve.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency e2e 52

Barkers Procurement

JUNE 21, 2023

The concept of an overarching Business Spend Management platform (BSM) is a relatively new and compelling concept, championed by our partners at Coupa, and is just as strategically important as your ERP, MRP or CRM systems. In essence, a BSM platform provides Finance with an extremely strict and powerful budget management measure.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Budget Procurement team 52

Procurify

JULY 18, 2022

Simply put, it is the use of software to manage as much of the procure-to-pay cycle as possible. Software takes over repetitive, time-consuming tasks, reduces approval bottlenecks and creates a centralized, organized home for all of your procurement documents. . What is procurement process automation?

Procurement 52

Procurement Purchase orders supply chain software solutions Purchasing 52

Pipefy

JANUARY 5, 2023

Digital procurement means letting go of manual data entry, paperwork, and complex request management and instead opting to use software that streamlines procurement through integration and automation. For example: the ERP system, SAP, Netsuite, and other finance software. The first choice will be the software type.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 52