Empowering CPO

FEBRUARY 20, 2023

Factors affecting the success of a Lotting Strategy When the stakes are high for both buyers and suppliers the Lotting Strategy plays a very critical role in ensuring success and eventually higher savings. This helps to achieve higher strategic sourcing project savings and support category management on an ongoing basis.

Strategy 52

Strategy Cost of ownership Strategic sourcing Strategic sourcing 52

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. In this guide, we’ll explore the key principles of category management and how it can benefit your organization.

Category management 77

Category management Management Supplier relationship management supply chain software solutions 77

Skill Dynamics

OCTOBER 19, 2023

Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract. A crucial part of successful procurement strategies is the art and science of negotiation.

Negotiation 52

Negotiation Procurement Procurement strategies Buyers 52

Procurement Software

MARCH 11, 2022

Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

Procurement Software

MAY 9, 2022

It provides a means to better monitor, spot, and address supplier-related risks. Many of today’s SRM software solutions include risk management, compliance management, and due diligence capabilities/functionality. Control & trust are byproducts of better data management. Full-Time Equivalent (FTE) Savings.

Supplier relationship management 52

Supplier relationship management supply chain software solutions Suppliers Management 52

Procurement Software

MAY 9, 2022

It provides a means to better monitor, spot, and address supplier-related risks. Many of today’s SRM software solutions include risk management, compliance management, and due diligence capabilities/functionality. Control & trust are byproducts of better data management. Full-Time Equivalent (FTE) Savings.

Supplier relationship management 52

Supplier relationship management supply chain software solutions Suppliers Management 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Procurement Software

MARCH 11, 2022

Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 52

Procurement Software

MARCH 19, 2024

Generative AI’s current impact in procurement is best illustrated by tech-savvy procurement category managers leveraging apps like ChatGPT and Bard to streamline the execution of routine tasks. Category Management AI will increasingly be used to help to write and generate category strategies.

Procurement 52

Procurement Category management supply chain software solutions Data 52

The Procuretech Podcast

JULY 8, 2020

They're a company who are facilitating easier access to supplier data to help buyers in their negotiation preparation, as well as more general risk management assessment activities related to sourcing and supplier management. In today's episode, I interview Kent Ledgerwood, VP of Customer Success at LevaData.

Suppliers 40

Suppliers Bill of materials supply chain budgeting Negotiation 40

Una

JUNE 6, 2023

Inventory analysis and supplier risk monitoring Predictive analytics to help anticipate demand and optimize inventory levels Helping communicate with suppliers Automating risk management and track supplier performance Keep in mind there is some risk involved in using the tool. I am going to be the buyer.

Procurement 52

Procurement Negotiation Suppliers Strategy 52

Una

JUNE 6, 2023

Inventory analysis and supplier risk monitoring Predictive analytics to help anticipate demand and optimize inventory levels Helping communicate with suppliers Automating risk management and track supplier performance Keep in mind there is some risk involved in using the tool. I am going to be the buyer.

Procurement 52

Procurement Negotiation Suppliers Strategy 52

Supply Chain Game Changer

OCTOBER 28, 2020

The top 5 technical skills were, in order: Inventory Management, Project Management, Best Practice Knowledge, Computer Skills, and Risk Management. Source ,” which includes Buyers, Category Managers, Commodity Managers, Procurement Specialists, Purchasing Managers and Sourcing Managers.

Supply chain 98

Supply chain Supply Leadership Supply chain management 98

Empowering CPO

DECEMBER 3, 2020

This will ascertain a stronger buyer-supplier bond with them. This helps achieve higher strategic sourcing project savings and support category management on an ongoing basis. CPOs should interact with them and make them feel wanted. New suppliers should feel that they also have a chance of winning the bid.

Chief Procurement Officer 52

Chief Procurement Officer Bidding Strategic sourcing Strategic sourcing 52

Empowering CPO

JUNE 14, 2023

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. Category management can lead to better supplier selection, improved negotiation, and enhanced value delivery.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Una

JUNE 15, 2023

The CPO is supported by strategic sourcing managers, category managers, buyers, analysts, contract managers, a compliance officer, an SRM manager, and others as new roles emerge. Inventory management: Outsourcing forecasting and managing inventory levels to meet demand while minimizing costs.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Supply Chain Game Changer

JANUARY 21, 2020

Focus areas included in the SRM cycle (in no particular order are): Risk Management Financial Stability Supplier Self-Assessment Evaluation of Supplier Performance Auditing (amongst other Governance Activities) Supplier Development Programs & Training Buyer-Supplier Collaboration (Inquiries & Communication) Category Management.

Procurement 87

Procurement Supplier relationship management Eprocurement Suppliers 87

The Procuretech Podcast

JUNE 28, 2022

But go on to share some of my own experiences as an under-appreciated category manager: A lot of administrative busy work that companies dump onto procurement professionals, despite it not really being their job. Looking to risk management and crisis avoidance today, how can companies reduce risk?

Sourcing 52

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

Procurement Software

JANUARY 24, 2023

The biggest downside I would take from DPW is that certainly the ratio of buyers to sellers was perhaps 50 / 50. The general consensus was that procurement is having to juggle a lot of different balls, especially now with things like sustainability, diversity and risk management coming more to the forefront.

Procurement 52

Procurement Quality Procurement team Stakeholder engagement 52

Procurement Heads

FEBRUARY 22, 2023

The Procurement and Vendor Management function is responsible for the entire sourcing lifecycle from source to pay within Zurich. As buyers and customers, we have loud voices and should use our influence for good. Whether that is for climate action, human rights or supporting social enterprises and diverse suppliers to thrive.

Sustainability 246

Sustainability Influencing Suppliers Procurement 246

Supply Chain Game Changer

MAY 8, 2019

Focus areas included in the SRM cycle (in no particular order are): Risk Management Financial Stability Supplier Self-Assessment Evaluation of Supplier Performance Auditing (amongst other Governance Activities) Supplier Development Programs & Training Buyer-Supplier Collaboration (Inquiries & Communication) Category Management.

Procurement 50

Procurement Supplier relationship management Eprocurement Suppliers 50

Positive Purchasing

NOVEMBER 1, 2023

James: I’m not an IT person, but I do understand the digital procurement landscape, though I approach it from a procurement category management background rather than a software development/CTO background. A central repository – to manage your sourcing events and contract data.

Procurement 111

Procurement supply chain budgeting Category management Budget 111

Procurement Heads

JANUARY 4, 2023

As a Buyer at British Airways, I bought a range of different categories from engineering spares to airport services. We’re constantly problem-solving and seeking continuous improvement as we devised a way of reporting supplier relationship management benefits using 10 sources of business value.

Supply Chain Efficiency 246

Supply Chain Efficiency Sustainability Agile and Lean Supply Chain Suppliers 246

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? Demand planning capabilities.

supply chain budgeting 221

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

ivalua

APRIL 11, 2019

He also talked about the recent release and the new features there, such as a new user interface across the platform, a new category management module (which I want to investigate more) and an integrated “digital assistant” at platform level.

Bill of materials 100

Bill of materials Raw materials Suppliers Procurement 100

Procurement Software

MAY 23, 2023

There should be less focus on category management and more focus on the top level relationships with the company’s largest and most important suppliers. The book gives the example of Bosch in the automotive industry, with them spanning multiple categories. Taking a category management approach leaves cash on the table.

Procurement 52

Procurement supply chain budgeting Agile and Lean Supply Chain Suppliers 52

Procurement Leaders

JUNE 1, 2022

To boost supplier engagement, category managers and buyers who work with participating businesses included the survey and CO2-reduction engagement as a key element in their supplier interactions.

Strategy 130

Strategy Sustainability Supply Chain Efficiency Suppliers 130

Procurement Software

JULY 4, 2023

RPA will over time take away a lot of the need for operational buyers and purchase admin roles. Security of supply Risk management – covering a broad range of potential use cases. Also useful from a quality management perspective. Blockchain “Isn’t blockchain just something to do with Bitcoin?”

Supply Chain Efficiency 52

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

Procurement Software

AUGUST 22, 2023

Yes, we live in an era where risk management and resilience is the order of the day. But that doesn’t mean that we’re not able to take calculated risks. If you’re hiring “policeman” roles while firing front line Category Managers or Analysts, then please stop and think. How do I think as a business owner?

Procurement 52

Procurement Agile and Lean Supply Chain Procurement team Category management 52