NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

In conclusion, embarking on a procurement transformation journey is not just a strategic choice; it’s a necessity in today’s dynamic business landscape. The post A Gameplan for Procurement Transformation appeared first on Next Level Purchasing Association (NLPA).

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Procurement Heads

SEPTEMBER 21, 2022

I quickly moved up into MRO purchasing and became even more passionate about saving my company money using smart supply chain solutions and strategic procurement. I was otherwise convinced that “purchasing just buys parts”. Nobody says, “I want to be a Buyer when I grow up!” And I would love to change that.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Procurement Purchasing 130

Strategic Sourceror

AUGUST 3, 2022

During the pandemic, when buying activity was frenzied and personal savings were substantial, the modus operandi for retailers was pretty straightforward: If you have it in stock, customers will purchase it — whether in store or online. It's just painful on the path from here to there." Brought to you by the StrategicSourceror.

Inventory 104

Inventory supply chain budgeting Supply Chain Optimization Consumer demands 104

Strategic Sourceror

NOVEMBER 23, 2022

With inflation raging, millions of budget-minded buyers will be sure to take advantage of the price reductions while they last. The declining trend suggests the novelty factor of Black Friday has worn off with some buyers. This suggests that people may not have as much to purchase by the time Black Friday rolls around.

supply chain budgeting 62

supply chain budgeting Buyers Budget Strategic sourcing 62

Strategic Sourceror

FEBRUARY 6, 2023

Prospective buyers say the environmental benefits of EVs are fueling their interest. A Blog for Procurement, Supply Chain and Purchasing Professionals, sponsored by Corcentric , a leading Procurement Service Provider, specializing in Strategic Sourcing, Procurement Resources and Procurement Advisory.

Raw materials 140

Raw materials Strategic sourcing Strategic sourcing Demand 140

Strategic Sourceror

SEPTEMBER 16, 2022

From cereal staples like Cheerios to snack treats like Ho-Hos and Ding Dongs, pantry staples are beloved by grocery buyers because they know what they're getting with each bowl or individually wrapped snack cake. According to S&P Global, Brazil is the global leader in soybean production. Brought to you by the StrategicSourceror.

Export 104

Export Buyers Strategic sourcing Strategic sourcing 104

Strategic Sourceror

DECEMBER 5, 2022

Increase competitiveness When items are out of stock and customers are unable to purchase what they're looking for, it represents a missed sales opportunity. That's because buyers know that if they can't find a given product, they won't stop searching; they'll try to buy elsewhere — and will likely be successful.

Inventory 62

Inventory Strategy Supply Chain Efficiency Management 62

Una

MARCH 8, 2023

This can happen if the supplier is unwilling to budge on pricing or if the buyer is unwilling to accept a lower quality product. Unrealistic demands: Negotiations can quickly break down if the buyer or supplier makes unreasonable or unrealistic demands, such as asking for a price that is significantly lower than market rates.

Supplier negotiation 97

Supplier negotiation Negotiation Suppliers Buyers 97

Empowering CPO

DECEMBER 2, 2020

Spot Buying is for immediate, Ad-Hoc & one-off purchases. These users are not trained as buyers and due to limited purchasing skills they end up buying products/services at higher cost without understanding the supplier market dynamics. to meet the buyer’s need.

Management 52

Management Strategic sourcing Strategic sourcing Buyers 52

Strategic Sourceror

AUGUST 5, 2022

Ever since, they're lucky to have the orders in buyers' hands within three months. He added that since candy bars are inexpensive, a 20% increase in what's charged likely won't phase buyers to the same degree as a similar percentage increase would for other industries. Brought to you by the StrategicSourceror.

Supply chain 104

Supply chain Supply Buyers Consumer demands 104

Una

AUGUST 17, 2022

The figure’s head represents the top 1% of strategic suppliers to your organization. This is where strategic sourcing professionals spend most of their time, communicating directly with their top suppliers through an SRM program , and using cutting-edge procurement software to analyze spend and track risk.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

ivalua

FEBRUARY 8, 2023

Procurement technology can also help businesses improve supplier relationships and enhance communication between buyers and suppliers. Digital transformation will lead to the evolution and digitization of key procurement processes, from source-to-pay. Create speed and transparency.

Supply chain resilience 242

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

Strategic Sourceror

DECEMBER 20, 2022

When a warehouse receives an order from a customer, a multitude of actions take place for the desired item to be selected, handled, packaged, placed and shipped to the buyer. As its title suggests, automated fulfillment refers to the implementation of technologies that automate fulfillment. Brought to you by the StrategicSourceror.

Supply Chain Optimization 108

Supply Chain Optimization Supply Chain Efficiency Order Fulfillment Demand 108

Strategic Sourceror

JANUARY 20, 2023

Businesses that buy from suppliers based in countries with weaker currencies could expose themselves to significant risk if the values of those currencies drop too much, while those that sell to certain buyers might make bloated returns that artificially inflate performance reports and revenue projections.

supply chain budgeting 62

supply chain budgeting Raw materials Supply chain Supply 62

Strategic Sourceror

NOVEMBER 21, 2022

Whatever they sell and wherever they may be selling it — be it in store or online — retailers can expect at least some of their products will find their way back because merchandise doesn't fit, doesn't work, is the wrong order or a buyer changed their mind about their original purchase.

Purchasing 57

Purchasing Strategic sourcing Strategic sourcing Buyers 57

ivalua

JUNE 29, 2020

As is, the healthcare supply chain is complex with multiple players involved such as manufacturers, distributors and group purchasing organizations (GPOs) supporting and interacting with multiple departments and care delivery points. Quite often there can be a general lack of spend and vendor management and strategic sourcing activities.

Agile and Lean Supply Chain 219

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 219

Strategic Sourceror

OCTOBER 4, 2022

And when taking into account solely the food that people purchased at grocery locations, prices were up more than 13% year over year. Typically meat is among the most expensive food items that families purchase, although costs can vary considerably depending on the type of meat as well as the cut. While this average was 7.6%

Price 57

Price Strategic sourcing Strategic sourcing Purchasing 57

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. Purchasing vs Procurement When it comes to the procurement department, it’s essential to understand the difference between purchasing and procurement.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Planergy

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. RFX – request for X – can refer to any request a buyer issues a vendor – thereby applying to any of these documents. Introduction to you as a buyer and your company background. Download Free Copy.

Buyers 52

Buyers Supply Chain Efficiency Suppliers Price 52

Strategic Sourceror

NOVEMBER 30, 2022

While supply chain disruptions have frustrated both buyers and sellers since 2020, many of the previous bottlenecks have since been dislodged, setting the industry up for what could be a banner year from a sales perspective, despite high inflation. Brought to you by the StrategicSourceror.

Retail Supply Chain 62

Retail Supply Chain Supply Chain Efficiency Supply chain Supply 62

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

Strategic Sourceror

SEPTEMBER 22, 2022

Erika Marsillac, professor of supply chain management at Old Dominion University in Virginia, told Supply Chain Dive that businesses essentially got ahead of themselves with respect to buyer appetite. Retail sales are down from January Perhaps the best indication of buyers' newfound thriftiness is retail sales.

Inventory 57

Inventory Agile and Lean Supply Chain Buyers Supply chain 57

Strategic Sourceror

SEPTEMBER 28, 2022

According to global markets firm CME Group, sheet prices dropped in August compared to July , continuing a month-over-month downward trend in what it costs to purchase steel. Dealers' supply of all-new cars is showing signs of improvement after the pandemic led to slim pickings for buyers perusing showrooms.

Price 62

Price Demand Strategic sourcing Strategic sourcing 62

Una

JANUARY 1, 2024

Identify your serial mavericks – those who consistently purchase without following procurement policy – and approach them for a chat. Resources to help: 8 Benefits of Reducing Maverick Spend How to Optimize Your Spend with a Strategic Sourcing Process 6 Ways to Manage Maverick Spend How to Control Your Wildest Maverick Spenders 3.

Procurement 52

Procurement supply chain software solutions Contract Suppliers 52

SCMDOJO

SEPTEMBER 18, 2023

Here is a list of some common procurement synonyms: Sourcing Acquisition Purchasing Buying Procuring Acquiring Obtaining Securing Obtaining Stocking Resourcing Attaining Gaining Fetching Obtaining Now let’s get into the meanings of some of these synonyms for procurement: 1.

Procurement 100

Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 100

Sourcing and Supply Chain

JUNE 24, 2021

Later on, it is categorically understood that for multiple sources of consumption or multi factory plants, sourcing a similar product by different persons may lead to consumption of more time, money, and resources. It results in specialization in category for a buyer and ends up in a better deal with saving time, resources, and money.

Category management 52

Category management Management Procurement Market analysis 52

Procurement Software

MAY 21, 2024

Evolution of automation: the Procure-to-Pay (P2P) example In most purchasing departments today, the requisition to PO process is something that still gets managed by people. Existing automated sourcing and negotiation software is geared towards one-time spend which can’t be covered by classic e-procurement or outsourced integrator strategies.

Supplier negotiation 52

Supplier negotiation Negotiation Suppliers Procurement 52

Una

AUGUST 23, 2022

In episode 56 of the Sourcing Hero podcast , Kelly Barner spoke with Barry Rogers, Senior Manager of Strategic Sourcing and Procurement at New Relic, Inc., There are a lot of factors to consider when purchasing IT ranging from supplier reputation and cost to support, reliability, fit-for purpose, and more. Related Posts.

Collaboration 98

Collaboration Procurement Purchasing Data 98

Strategic Sourceror

SEPTEMBER 16, 2022

Meanwhile, buyer demand rose, which came as a surprise to suppliers and led to price hikes. A Blog for Procurement, Supply Chain and Purchasing Professionals, sponsored by Corcentric , a leading Procurement Service Provider, specializing in Strategic Sourcing, Procurement Resources and Procurement Advisory.

Price 70

Price Inventory Strategic sourcing Strategic sourcing 70

Una

JUNE 15, 2023

10 Procurement Outsourcing Services Explore ten procurement outsourcing services available to help your sourcing function save more money, time, and effort. 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.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Strategic Sourceror

DECEMBER 7, 2022

Buyers taking advantage of convenience shopping In some respects, the growth in spending and shopping activity makes sense — particularly as it pertains to the uptick in Cyber Monday buying. " More Americans shopped for the holiday online, saving on gas. Almost 73 million leveraged Black Friday deals via online means.

supply chain budgeting 62

supply chain budgeting Strategic sourcing Strategic sourcing Budget 62

Strategic Sourceror

NOVEMBER 18, 2022

Offering deep discounts on merchandise to inflation-weary buyers can help sellers cut down on the inventory they have to carry over into next year. Retailers are also dealing with a glut of inventory, due in part to supply chain bottlenecks that have since worked themselves out. What trends will emerge in e-commerce in 2023?

Strategic sourcing 62

Strategic sourcing Strategic sourcing Inventory Buyers 62

Strategic Sourceror

SEPTEMBER 16, 2022

While Food Rocket has brick-and-mortar locations, it's primarily known for delivering buyers' grocery items within approximately 15 minutes of their orders. 7-Eleven and Circle K are competitors — Nos. Their success with delivery has led many companies to continue using them. Brought to you by the StrategicSourceror.

Strategic sourcing 62

Strategic sourcing Strategic sourcing Demand Influencing 62

Strategic Sourceror

DECEMBER 14, 2022

Restaurants that specialize in lettuce, or for whom changing the vegetable would compromise quality or customer satisfaction, are issuing surcharges on lettuce , but informing buyers of their temporary policy through signage, Restaurant Business Online reported. Brought to you by the StrategicSourceror.

Price 57

Price Strategic sourcing Strategic sourcing Supply chain 57

Planergy

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These programs are beneficial for both buyers and suppliers. Benefits for Buyers. PSPs benefit buyers because they can lead to reduced costs, improved quality and service levels, and increased procurement efficiency.

Contract 52

Contract Suppliers Buyers Price 52

Procurement Software

MAY 14, 2024

This phase is critical for early procurement involvement in both your strategic projects and more routine, tactical purchases alike. This strategic alignment ensures data integrity, fosters collaboration, and maintains transparency from the initial purchase request at intake all the way through to final payment and recordkeeping.”

Procurement 52

Procurement Real-time Visibility e2e Chief Procurement Officer 52

Strategic Sourceror

SEPTEMBER 16, 2022

" She added that while no one can predict the future, she's confident that marking down prices will incentivize buyers to come to their stores and online checkouts. "We're cutting out receipts, and we are being more promotional." Brought to you by the StrategicSourceror.

Price 57

Price supply chain budgeting Inventory Strategic sourcing 57