article thumbnail

Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

In today’s complex global business environment, effective supply chain management (SCM) is crucial for maintaining a competitive advantage. Here’s how companies are using different strategies to address supply chain management and meet their business goals.

article thumbnail

The Importance of Supply Chain Visibility for Procurement

NLPA (Next Level Purchasing Association)

Supply chain visibility is essential for successful procurement, as it enables businesses to proactively manage risks and optimize their supply chain. By having a clear view of their entire supply chain, businesses can identify potential issues and take steps to mitigate them. million, up from $1.9 million in 2015.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Complete Guide to Procurement Technology

World of Procurement blog

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 IBM Emptoris and Oracle Supplier Management.

article thumbnail

Leveraging Critical Factors for Supply Chain Success

NLPA (Next Level Purchasing Association)

Inability to execute good Business Strategies. Flawed or outdated Technology and Equipment that limits visibility. Inefficient Logistics and Business Metrics. The Next Level Purchasing Body of Knowledge underpins, integrates and enhances the essential components of Supply Chain Management in simple how-to-do steps.

article thumbnail

What is asset reliability?

IBM Supply Chain Blog

To be successful, businesses need to have clear, real-time visibility into the condition of their assets and a plan to keep them running smoothly and make repairs quickly when things break. This is why asset reliability is such a critical component of business strategy. What is an asset?

article thumbnail

What is Integrated Business Planning (IBP)?

IBM Supply Chain Blog

Integrated planning incorporates supply chain planning, demand planning, and demand forecasts so the company can quickly assess the impact on inventory levels, supply chain logistics, production plans, and customer service capacity. Strategic planning Integrated Business Planning starts with strategic planning.

article thumbnail

Budgeting Process: Steps and Best Practices for Planning a Budget

Planergy

How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Using financial tools can help save time and resources while improving accuracy in the budgeting process. Why is Business Budgeting Important?