Arkestro

MARCH 27, 2024

Resources / Blog / Unleashing the Power of Procurement Buyers: Delving into this Impactful Role Unleashing the Power of Procurement Buyers: Delving into this Impactful Role Buyers have always played an important role in the procurement industry, helping organizations obtain goods and maintain a careful balance of speed, cost-efficiency, and quality.

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Supply Chain Brain

OCTOBER 16, 2022

The lull in purchasing has worsened throughout the year as high inflation, rising labor costs and recession fears have triggered a reassessment of procurement budgets.

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Purchasing Buyers Budget Procurement 52

Spend Matters

AUGUST 23, 2022

Categories: Accounts Payable , P2P , Payments , Procurement Systems & Architecture , Purchasing Tags: EU , P2P , procurement strategy and planning Even the most customer-centric companies can have a blind spot when it comes to their own buying processes. Nipendo finds that in many organizations, low buyer adoption is a key issue.

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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. In case you’re still on the fence about investing in invoice purchase order software read on to learn about […].

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Purchase orders Purchasing Procurement team Buyers 130

ProcurePort

DECEMBER 26, 2019

Employing best practices in purchase requisitions will enable your business to streamline order and stock management, improve vendor-buyer relationship, operate more cheaply, prevent fraud and improve the speed at which your firm operates.

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SCMDOJO

JUNE 3, 2022

And that’s no other than a purchase order. It’s hard to ignore how important Purchase Orders (POs) are to growing retail businesses. But what exactly is a purchase order , and why do CPAs need one? We’ll also look into the many benefits you can get by using a purchase order system. What Is a Purchase Order?

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Purchase orders Purchasing Quantity Buyers 102

Una

AUGUST 4, 2022

IT Procurement | 'Stranger Things' Keeping IT Buyers Awake at Night. Here are just a few of the most frightening challenges keeping IT buyers awake at night. The term refers to the common situation where employees purchase software that hasn’t been authorized by the central team. Do you have questions about group purchasing?

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Una

MAY 23, 2023

Group Purchasing and Indirect Spend: A Fairy-tale Romance A unique take on the relationship between group purchasing and indirect spend and how the two work together to drive cost savings and value. Once upon a time, in the bustling World of Procurement, there existed a charming knight known as Group Purchasing.

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Purchasing Supply Chain Efficiency Supply Chain Optimization Procurement 97

Supply Chain Dive

DECEMBER 4, 2023

The apparel company has been cautious in its own buying while trying to meet the needs of department stores and others who seek agility to meet demand.

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Supply Chain Brain

MAY 18, 2021

Ensuring customers enjoy a frictionless post-purchase experience, from delivery through return, is crucial if omnichannel retailers are to satisfy buyers, retain customers and drive repeat purchase.

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Purchasing Buyers 90

Supply Chain Brain

JULY 17, 2021

The majority of mid-sized to large B2B buyers anticipate that their organizations will continue to do more purchasing online, according to a report by Amazon Business.

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Spend Matters

JULY 14, 2022

Categories: Accounts Payable , Finance , Invoicing , Payments , Purchasing , Sponsored Article Tags: Sponsored Article Virtual cards are a fast-growing and popular payment method with businesses for a variety of reasons. However, even if a buyer decides to pay their suppliers early, they are unable to because of operational shortcomings.

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TYA Suite

DECEMBER 16, 2022

Purchase requisition and purchase order are simply interdepartmental forms which serve the purpose of handling the accounting and finances better. involves purchase requisition and purchase order. involves purchase requisition and purchase order. What is a purchase requisition?

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All Things Supply Chain

MAY 5, 2023

Apple sales fall but iPhone demand persists Apple sales have continued to fall, as the economy slows and buyers, squeezed by rising prices, put off purchases of computers and iPads.…

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Supply chain Buyers Price Purchasing 222

Procurement Tactics

JANUARY 5, 2023

It allows them to have a purchasing experience that provides process improvement and better spend management for the entire organization without leaving their e-procurement system. Approved purchasers from the buying organization can access hosted catalogs as part of the purchasing process. PunchOut Catalog: What is it?

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Spend Matters

APRIL 22, 2024

Penny is a cloud-based procurement solution that covers the procurement journey from purchase requisition to sourcing to payments. Customers can pick and choose from an array of modules (Purchase Requisition, E-Sourcing, Orders, GRN, Bills, Payments). This Vendor Analysis explores Penny’s platform, application and supporting services.

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Procurement strategies Purchasing Procurement solutions Buyers 89

The Good Spending

FEBRUARY 21, 2022

The buyer's challenges with descriptive sales So, as the HBR article suggests, buyers are uncertain and stressed. Typically, we lack time and resources to properly analyze the information, bend under the pressure of multitasking , and suffer from anxiety caused by post-purchase accountability.

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Una

MAY 23, 2023

Group Purchasing and Indirect Spend: A Fairy-tale Romance A unique take on the relationship between group purchasing and indirect spend and how the two work together to drive cost savings and value. Once upon a time, in the bustling World of Procurement, there existed a charming knight known as Group Purchasing.

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Purchasing Supply Chain Efficiency Supply Chain Optimization Procurement 52

Una

AUGUST 9, 2022

How to Use Group Purchasing as a Cost Reduction Strategy. For most of us, 2020 was no time to purchase a new car or book a future trip to Disneyland. A group purchasing organization (GPO) leverages the collective buying power of its members to obtain volume discounts from suppliers and retailers. in April 2020. Related Posts.

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Purchasing Strategy supply chain budgeting Procurement team 96

Procurify

MAY 12, 2022

Many people use the terms procurement and purchasing interchangeably. In this guide, we clarify any confusion on the difference between procurement and purchasing, and deep dive into each area. What is purchasing? For example, by creating and fulfilling purchase orders and arranging payment for goods. Before we begin.

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Pipefy

JANUARY 31, 2023

Why purchase request approval is important The purchase requisition approval process is the final layer of review that’s required for all purchase requests. Once purchase requisitions are processed and approved, a purchase order is generated and submitted to the vendor or supplier for fulfillment.

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ProcurePort

OCTOBER 11, 2023

Reverse auctions are a procurement strategy that flips the traditional purchasing process on its head, allowing suppliers to compete for a buyer’s […] The post Reverse Auctions for Cost Savings in a Down Economy appeared first on ProcurePort Blog. One such method gaining popularity is the use of reverse auctions.

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Procurement strategies Buyers Innovation Purchasing 130

Procurify

JUNE 21, 2022

In order to float and not sink in the current business environment, companies may need financing solutions to deliver purchase orders. Thus, when a company lacks liquidity, purchase order financing can help. The importance of purchase orders. First, every buyer sends a purchase order to their supplier to make an official order.

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Purchase orders Purchasing Supply Chain Optimization Suppliers 52

World of Procurement blog

APRIL 23, 2024

Mastering it can lead to significant cost savings, improved efficiency, and enhanced quality of products or services purchased. This approval is typically obtained through a purchase requisition process where the procurement need is formally requested and justified.

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World of Procurement blog

APRIL 23, 2024

Mastering it can lead to significant cost savings, improved efficiency, and enhanced quality of products or services purchased. This approval is typically obtained through a purchase requisition process where the procurement need is formally requested and justified.

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Purchase orders Procurement Quantity Budget 52

ivalua

MARCH 18, 2021

The Strategic Sourcing modules of Ivalua allow Punch Powertrain buyers to define Purchasing needs collaboratively, consolidate the tendering documents and ease costing by suppliers (cost breakdown files, dialogue with the projects on technical feasibility).

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Strategic sourcing Strategic sourcing Sourcing Cost of ownership 246

EazyStock

NOVEMBER 17, 2022

This year, purchasing teams are also facing continued challenges due to global supply chain and logistics pressures, component shortages, and soaring prices for electricity and fuel. The key is to keep track of your inventory planning and purchasing processes. Successful sales during this period come down to many factors.

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Purchasing Supply Chain Optimization Supply Chain Efficiency Inventory 52

EazyStock

NOVEMBER 17, 2022

This year, purchasing teams are also facing continued challenges due to global supply chain and logistics pressures, component shortages, and soaring prices for electricity and fuel. The key is to keep track of your inventory planning and purchasing processes. Successful sales during this period come down to many factors.

Purchasing 52

Purchasing Supply Chain Optimization Supply Chain Efficiency Inventory 52

Procurement Leaders

MARCH 26, 2024

On the other hand, if the buyer would involve the supplier intensely, it would provide the functional specifications ( see Figure 2, above ), such as the expected weight of the new car, and request a new wheel design from its supplier.

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Procurement Tactics

DECEMBER 7, 2022

Financial supply chain or supply chain finance describes a set of technology-based solutions that helps lower financing costs and enhance the business experience for sellers and buyers connected in sales transactions. . While suppliers can gain quick access to money the buyer owes them, the latter can get more time to pay their balances.

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Supply Chain Efficiency Supply Chain Optimization supply chain software solutions Supply chain 181

Supply Chain Brain

FEBRUARY 28, 2024

Technology and funding programs are crucial to decarbonizing heavy-duty transportation, as are ones helping offset the high upfront purchase costs that have deterred buyers.

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Buyers Purchasing 59

ivalua

JULY 13, 2022

Buyers are expected to scrutinize every aspect of the purchasing process to identify ways to reduce their carbon footprint, source sustainable materials, and promote diversity. As the sourcing function evolves, digital procurement technologies have become crucial tools for buyers to capture and report their sustainability achievements.

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Una

DECEMBER 20, 2022

Your procurement team’s sourcing strategy might favor a strategic, project-based, long-term contract, or one-off spot-purchase approach. To drive more SUM within your organization, you’ll also have to focus on encouraging buyers to choose the right vendors. Proper purchase authorization. Sourcing and managing suppliers.

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Management Buyers Procurement team Contract 98

ivalua

APRIL 20, 2021

Leveraging purchasing power to capture volume- based pricing within a competitive supply chain builds sticky relationships with healthy suppliers, keeps input costs low, and acts as a hedge against inflation. The reality is, to turn inventory, make the sale, and then collect funds takes most buyers over 30 days. Is it worth it?

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Supply Chain Efficiency Buyers Suppliers Purchasing 130

Procurement Tactics

MARCH 23, 2023

Digital platforms can help the source-to-contract process to be more manageable as it allows for automated bidding, digital purchase orders, online payments, and supplier collaboration. In this stage, you will need to issue an RFQ or RFP if you are sure to make a purchase and you know the specifics of what you want to buy.

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ProcurePort

MAY 12, 2022

In a normal procurement process, buyers, usually organizations or institutions, send their purchase requests to suppliers to inquire about product availability, pricing, and delivery. • • Managing agreements is a critical part of any procurement process.

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Contract management Contract Management Buyers 130

Una

NOVEMBER 29, 2022

Tim is the CEO and Co-Founder of DLA Ignite as well as the Author of Social Selling: Techniques to Influence Buyers and Changemakers. Social Selling: Techniques to Influence Buyers and Changemakers. Do you have questions about group purchasing? In this episode of The Sourcing Hero podcast, Host Kelly Barner welcomes Tim Hughes.

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