Spend Matters

MARCH 11, 2024

It is especially important for midsize to large public institutions or private sector companies that don’t have the luxury of a large procurement team but still need to manage spend in the most efficient and effective manner. It is exactly the kind of challenge that VORTAL addresses.

Procurement solutions 103

Procurement solutions Sourcing Procurement Market analysis 103

ProcurePort

SEPTEMBER 29, 2021

Invoice purchase order software (I/PO software) refers to technology that syncs purchase orders created by buyers and invoices generated from fulfilled purchase orders. It’s a pragmatic solution that has simplified life for procurement teams and vendors.

Purchase orders 130

Purchase orders Purchasing Procurement team Buyers 130

Una

DECEMBER 20, 2022

Once onboarded, procurement teams must allocate substantial SRM activities to ensure these suppliers continue to deliver value. To drive more SUM within your organization, you’ll also have to focus on encouraging buyers to choose the right vendors. When authorization is required, make sure buyers are getting it right.

Management 98

Management Buyers Procurement team Contract 98

ivalua

JULY 13, 2022

With mounting pressure for organizations to make tangible contributions to Environmental, Social, and Governance (ESG) initiatives, the procurement function must strategize to implement and report their collective efforts. ESG Objectives for Buyers. Supplier Selection.

Sustainability 130

Sustainability Buyers Suppliers Procurement 130

Procurement Leaders

SEPTEMBER 8, 2022

Fast forward a few months, and with those same events continuing to challenge procurement teams, leaders have revealed what it is that they want. Instead, developing team skills and talent tops CPOs’ agenda for the coming 12 months. It caps a growing recognition of the importance of the people staffing today’s procurement teams.

Supply Chain Efficiency 195

Supply Chain Efficiency Procurement team Buyers Procurement 195

Procurement Tactics

JUNE 8, 2023

The purchase order is written in great detail and should follow a process that is defined by the company’s procurement team. If your company depends on the daily procurement of materials or services, any delay will cause interruptions in the daily operations of your company or organization. What is its Purpose?

Purchase orders 130

Purchase orders Purchasing Buyers Quantity 130

World of Procurement blog

APRIL 23, 2024

This strategy will detail how to approach the market, evaluate suppliers, and conduct the procurement while ensuring compliance with policies and regulations. Step 3: Budget Approval and Requisition Budget approval is a critical step that ensures the procurement team has the necessary funds to proceed.

Purchase orders 52

Purchase orders Procurement Quantity Budget 52

World of Procurement blog

APRIL 23, 2024

This strategy will detail how to approach the market, evaluate suppliers, and conduct the procurement while ensuring compliance with policies and regulations. Step 3: Budget Approval and Requisition Budget approval is a critical step that ensures the procurement team has the necessary funds to proceed.

Purchase orders 52

Purchase orders Procurement Quantity Budget 52

ivalua

JUNE 27, 2022

Ivalua’s global reach of buyers and their suppliers helps us deliver on our mission-providing access to working capital to businesses so they can grow and thrive. C2FO: Buyers on the Ivalua platform can pay their suppliers early and proactively set goals for return on their cash. How will the C2FO partnership benefit businesses?

e2e 130

e2e Buyers Suppliers Supply chain 130

Spend Matters

AUGUST 16, 2023

This week we’ve spoken with Georg Rösch , VP Direct Procurement Strategy at cloud-based business automation suite JAGGAER to find out what the firm is hearing directly from its customers and prospects in terms of their current priorities. It’s an exciting, yet challenging, time for procurement teams.

Procurement 89

Procurement Procurement team Buyers Risk 89

ivalua

FEBRUARY 8, 2023

Procurement teams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. Work to achieve 100% supply chain visibility. Why is visibility so important?

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

Supply Chain Game Changer

NOVEMBER 26, 2018

If you don’t have a Supplier CoC, I’d strongly suggest looking into developing one with your sourcing and procurement team. Supplier compliance and governance is a result of quality due diligence on the part of a sourcing and procurement team. SCM #SupplyChain #ikea #retail #logistics #procurement #purchasing.

Procurement team 43

Procurement team Supplier relationship management Procurement Suppliers 43

Procurement Insights

SEPTEMBER 30, 2023

(In the test case, a major public sector organization realized a 23% cost of goods savings annually over a period of several years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.) What are the common denominators?

Buyers 64

Buyers Procurement team Quality Contract 64

Spend Matters

DECEMBER 29, 2023

Access Spend Matters dedicated ‘ Artificial Intelligence in Procurement ’ page for more AI insights. AI IN PROCUREMENT Just as fraudsters are becoming more sophisticated in their tactics, procurement teams need to elevate their approach to fighting fraud throughout the entire procure-to-pay (P2P) process.

Procurement solutions 56

Procurement solutions Procurement Procurement team Buyers 56

ivalua

JUNE 4, 2020

In this article we’ll review how supplier management capabilities in Source-to-Pay technology can free-up and enable a manufacturer’s direct material procurement team to do what they do best to ensure the supply chain remains resilient and agile: be creative and strategic. Managing a complex network of direct material suppliers.

Agile and Lean Supply Chain 173

Agile and Lean Supply Chain Supply chain resilience Supply Chain Efficiency Supply chain 173

Procurement Leaders

JUNE 9, 2022

Reflecting that, T-Mobile’s procurement team has since implemented new initiatives, with a focus on providing additional support for diverse suppliers, incentivising internal staff and encouraging diverse hiring practices in its wider supply base. The supplier diversity team has been grown from just one person to four since 2019.

Supply chain 130

Supply chain Supply Procurement team Suppliers 130

Spend Matters

OCTOBER 19, 2023

We are pleased to announce that the recognized Future 5 providers are: akirolabs — Founded by procurement veterans, akirolabs is a Berlin-based digital solution that helps transform procurement from a tactical function to a value orchestrator.

Supply Chain Optimization 91

Supply Chain Optimization Supply Chain Efficiency Procurement team Buyers 91

Spend Matters

MAY 17, 2023

Our current globally interconnected era in which suppliers and buyers communicate across time zones, languages and sociopolitical barriers has only complicated this issue further. It is necessary for a supply chain’s health that all buyers have accurate, easy-to-access, up-to-date information about their suppliers. Read more. )

Suppliers 69

Suppliers Buyers Risk Procurement team 69

Una

AUGUST 17, 2022

There are dozens of definitions of tail spend in circulation, but here are the main features you need to know: Tail spend is not actively managed by the procurement team. It's decentralized by buyers in the business (not procurement people). Put simply, procurement teams can’t do everything.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

Spend Matters

MARCH 8, 2023

akirolabs wants to change that and has developed and designed a solution specifically to augment procurement teams and not just automate processes. When you consider the myriad of very complex challenges that lie ahead of many procurement teams (ESG, VUCA, etc.), this augmentation is precisely what they need.

Strategy 77

Strategy Strategic sourcing Strategic sourcing Management 77

Spend Matters

AUGUST 28, 2023

Zivio focuses on simplifying complex services categories to help procurement teams achieve contract compliance improvements whilst improving efficiency, visibility and control. To potential buyers — Zivio focuses on what makes complex services procurement challenging by bringing interesting and valuable features.

e2e 87

e2e Sourcing Real-time Visibility Procurement team 87

Spend Matters

JANUARY 17, 2024

In this Spend Matters Vendor Analysis, we give an overview of ChAI, a pricing/market intelligence solution built to provide procurement teams with deep insights into the evolution of commodities. Understanding the evolution of commodity prices is crucial for procurement professionals.

Raw materials 56

Raw materials Supply Chain Efficiency supply chain budgeting Strategic planning 56

Pipefy

JANUARY 9, 2023

These are just some of the many challenges procurement teams have had to face since the pandemic and throughout 2022. What all of these obstacles have made clear is that process resilience and long-term procurement strategies are essential for mitigating future risks. 5 procurement trends for 2023.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Procurement Procurement team Supply Chain Efficiency 59

ivalua

AUGUST 17, 2021

Procurement can and should be a significant value generator for the larger organization. There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: . Creating Value occurs when sourcing and procurement uses relevant sourcing processes and tools to engage and select the best fit supplier.

Procurement 130

Procurement Procurement team Sourcing Supplier relationship management 130

Spend Matters

FEBRUARY 26, 2024

Procurement teams commonly follow this principle to prioritize activities and define focus areas to maximize return on investment. To potential buyers: The growth of Fairmarkit’s solution is a testament to how tailoring a tool to spend management is key to turning that segment into a more positive ROI.

Market analysis 99

Market analysis Sourcing Spend management Purchasing 99

Una

APRIL 18, 2023

By Mackenzie Oakley | April 18, 2023 Search This article is inspired by a recent episode of The Sourcing Hero podcast featuring Harold Hendrickx, a fractional CPO and the founder of TransExecutive, a company that deploys the Procurement Task Force model to help procurement teams enable, optimize, transform, and rapidly deliver value.

Procurement 98

Procurement Procurement team Leadership Supply Chain Optimization 98

Procurement Leaders

MARCH 10, 2023

” The multitude of risks buyers face represents an issue Boldu is not focused on one specific threat. Consequently, the digital infrastructure and communication with suppliers are quite different at a local level.”

Collaboration 147

Collaboration Supply chain Management Risk management 147

Arkestro

FEBRUARY 6, 2024

Arkestro’s Personal Touch Across the Globe When a large organization with a complex supply chain came to Arkestro to implement our PPO platform, our professional services team traveled to three of their global locations to make sure PPO could be their strategic superpower this year. The results were immediate.

Competitive bidding 52

Competitive bidding Procurement Real-time Visibility Supply Chain Efficiency 52

Procurement Tactics

JUNE 7, 2023

Supplier collaboration goes beyond traditional buyer-supplier relationships by promoting cooperation, transparency, and innovation throughout the supply chain. Regular collaboration between buyers and suppliers helps align their goals and strategies, making sure that every interaction benefits both parties.

supply chain software solutions 130

supply chain software solutions Collaboration Suppliers Supply Chain Efficiency 130

Skill Dynamics

OCTOBER 19, 2023

A crucial part of successful procurement strategies is the art and science of negotiation. 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.

Negotiation 52

Negotiation Procurement Procurement strategies Buyers 52

ivalua

JUNE 29, 2022

Creating a dialogue with suppliers ensures that procurement teams can identify opportunities for innovation in a green supply chain that benefits all parties. However, a lack of the right procurement tools restricts businesses from accessing these benefits.

Strategy 130

Strategy Supply Chain Efficiency Sustainability Real-time Visibility 130

Procurement Tactics

JULY 2, 2023

Enhanced Collaboration Collaboration among the procurement team, stakeholders, and suppliers is enhanced by job orders. The Common Reference Points serve as an instrument of cooperation, ensuring consistency between all interested parties for the purpose of achieving procurement targets and promoting efficient collaboration.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

Procurement Tactics

AUGUST 24, 2022

It is a virtual platform where suppliers and buyers located anywhere in the world can collaborate together. Benefits of Supplier Network for Suppliers and Buyers. The procurement team and finance team work together to cross-check the items ordered and paid. Reduction of manual efforts. Reduction in paper flows.

Networking 130

Networking Suppliers Buyers supply chain budgeting 130

ivalua

SEPTEMBER 28, 2020

So for the last decade the Procurement teams have been pushing the ‘No-PO, No Pay’ mantra, it’s now even ‘Government Policy’. However, ask any AP team member, in any company and they’ll tell you it’s impossible, ‘our business just doesn’t work like that!’ There are exceptions to every rule, and that rule just doesn’t work.

supply chain budgeting 237

supply chain budgeting Purchase orders Networking Buyers 237

Arkestro

OCTOBER 29, 2023

Resources / Blog / 5 Chilling Challenges Facing Procurement Today 5 Chilling Challenges Facing Procurement Today From uncovering hidden supply chain specters to exorcizing bothersome data demons, procurement managers certainly have their hands full. More often than not, the raw data can be inaccurate or misleading.

Procurement 52

Procurement Procurement team Supplier relationship management Supply Chain Optimization 52

Arkestro

MAY 9, 2022

The question is, how do CPOs, CFOs, and procurement teams navigate this new terrain? The knee-jerk reaction might be to move to a new procurement app. Forcing the procurement team to adopt all-new software simply adds chaos to the mix. More specifically, what is the compelling use case for a buyer?

Procurement 52

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

Spend Matters

JANUARY 4, 2023

It addresses complex challenges involved in the optimization of product and supply chain designs with a new approach that opens the door to new use cases and markets for procurement teams.

Supply Chain Optimization 79

Supply Chain Optimization Supply Procurement team Sustainability 79