Spend Matters

FEBRUARY 27, 2023

Vendigital’s team uses analytics tools to help clients tidy their data so they can make informed improvements to their businesses, e.g., internal cost reduction, supply chain design and strategic sourcing. To the buyer — Vendigital offers a SaaS analytics tool and experts to interpret the analysis.

Suppliers 76

Suppliers Strategic sourcing Strategic sourcing Buyers 76

Spend Matters

MARCH 8, 2023

Categories: Procurement Strategy & Planning , Procurement Systems & Architecture , Strategic Sourcing Tags: PRO In this Spend Matters PRO Vendor Analysis, we give an overview of akirolabs, a category strategy management solution built to support the transformation of procurement from a tactical function to the role of value orchestrator.

Strategy 77

Strategy Strategic sourcing Strategic sourcing Management 77

Procurement Insights

OCTOBER 24, 2022

In short, by focusing on savings, the wrong practices and buyer behaviors were rewarded, e.g., beating down suppliers, vendor rationalization etc. What is worth noting is that back in 2007, the executive participants in a CPO Agenda Roundtable said that one strategic sourcing professional is worth ten run-of-the-mill buyers.

Strategic sourcing 59

Strategic sourcing Strategic sourcing Buyers Procurement 59

Spend Matters

NOVEMBER 2, 2022

Categories: E-Sourcing , Procurement Systems & Architecture , Sourcing , Strategic Sourcing Tags: PRO This Spend Matters PRO Vendor Analysis provides an overview of Globality and its services sourcing solution. Globality’s solution uses AI technology to implement a self-service approach to services procurement.

Sourcing 80

Sourcing Strategic sourcing Strategic sourcing Ethics 80

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. A strategic sourcing strategy is key to ensuring vendors with the potential to deliver the most value. When authorization is required, make sure buyers are getting it right.

Management 98

Management Buyers Procurement team Contract 98

Procurement Tactics

MARCH 23, 2023

In this sourcing phase, you will need to gather all the information regarding the budget, lead times, and order quantities. In strategic sourcing , you will have to dedicate time and effort to researching suppliers who can deliver quality products, at the right time and quantity.

Contract 156

Contract Sourcing Purchase orders Bidding 156

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

Consider these courses and resources from NLPA: Data Analytics for Procurement Professionals Microsoft Excel for Purchasing Professionals Excel Basics for Buyers Strategic Sourcing Optimization: Justification : Applying strategic sourcing principles, including category management, supplier segmentation, and Total Cost of Ownership (TCO) analysis, optimizes (..)

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Procurement Heads

SEPTEMBER 21, 2022

Nobody says, “I want to be a Buyer when I grow up!” My biggest achievement of all time is saving the company I worked for $52 million on a global strategic sourcing initiative. How can we encourage more women to choose procurement as a viable career? And I would love to change that. Every step of the way, be grateful.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Procurement Purchasing 130

CPO Rising

MARCH 11, 2024

When I started in procurement in what feels like way too many years ago, it was as a buyer. A few years later I got a new title, strategic buyer! Since then, it feels like the term “strategic buyer” has been replaced by category manager, but […] Nothing actually changed but I got a fancier title.

Category management 52

Category management Management Buyers Procurement 52

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. Brought to you by the StrategicSourceror.

Export 104

Export Buyers Strategic sourcing Strategic sourcing 104

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

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

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. But a new forecast suggests deal hunting on Black Friday may not be as widespread as it's been in the past.

supply chain budgeting 62

supply chain budgeting Buyers Budget Strategic sourcing 62

Procurement Tactics

AUGUST 25, 2022

Kearney where he spent 10 years in the consulting firm’s strategic IT and operations practice which drives client business transformation and optimization initiatives. He is a member of the advisory board for the world’s premiere global association for sourcing and procurement professionals.

Procurement 231

Procurement Supply Chain Optimization Agile and Lean Supply Chain supply chain budgeting 231

Strategic Sourceror

DECEMBER 5, 2022

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. 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.

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

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. The quote is received within a day, the specialist puts the analysis together and discusses with the buyer. to meet the buyer’s need.

Management 52

Management Strategic sourcing Strategic sourcing Buyers 52

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

ivalua

JUNE 29, 2020

Quite often there can be a general lack of spend and vendor management and strategic sourcing activities. For example, unique workflow and fields in a requisition to capture doctor, patient, product serial numbers & procedure details and route specific product types to specialized buyers/suppliers.

Agile and Lean Supply Chain 219

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

Spend Matters

SEPTEMBER 20, 2022

Categories: Analysis , P2P , Procurement Strategy & Planning , Spend Analysis , Strategic Sourcing Tags: PRO This Spend Matters PRO Vendor Analysis updates an analysis of Cirtuo, a strategy management solution.

Strategy 70

Strategy Management Strategic sourcing Strategic sourcing 70

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

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

AUGUST 3, 2022

"Now that we ourselves are reducing [inventory] and they're reducing theirs, it'll lead for an opportunity to re-normalize for both and it'll be for the benefit of all over time," Mininburg noted, referring to several of Helen of Troy's largest buyers, like Walmart, Amazon and Target. It's just painful on the path from here to there."

Inventory 104

Inventory supply chain budgeting Supply Chain Optimization Consumer demands 104

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 Price Suppliers 52

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

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

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

Procurement Software

MAY 9, 2022

SRM is a nuanced discipline as it requires a fine balance between control & trust from buyer and supplier alike. This can enhance buyer-supplier transparency and ensure a more open, trust-filled, and honest business relationship. Your SRM strategy plans to put your buyer-supplier relationships under the lens. About Kodiak:

Supplier relationship management 52

Supplier relationship management supply chain software solutions Suppliers Management 52

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

Procurement Software

MAY 9, 2022

SRM is a nuanced discipline as it requires a fine balance between control & trust from buyer and supplier alike. This can enhance buyer-supplier transparency and ensure a more open, trust-filled, and honest business relationship. Your SRM strategy plans to put your buyer-supplier relationships under the lens. About Kodiak:

Supplier relationship management 52

Supplier relationship management supply chain software solutions Suppliers Management 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. Brought to you by the StrategicSourceror.

supply chain budgeting 62

supply chain budgeting Strategic sourcing Strategic sourcing Budget 62

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

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

Strategic Sourceror

SEPTEMBER 28, 2022

Dealers' supply of all-new cars is showing signs of improvement after the pandemic led to slim pickings for buyers perusing showrooms. With pandemic restrictions lifted, automakers are primed to increase production to meet the needs of customers who are in the market. However, new-vehicle inventory remains below where it was pre-COVID.

Price 62

Price Demand Strategic sourcing Strategic sourcing 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. Brought to you by the StrategicSourceror.

Strategic sourcing 62

Strategic sourcing Strategic sourcing Demand Influencing 62

Arkestro

MARCH 13, 2023

Using intelligent first offers, their buyers can quickly request more accurate quotes from qualified suppliers and rapidly reach best value award decisions. Result With a boost in productivity, the procurement team is now able to focus on more strategic projects and have a bigger impact on the organization overall.

Bidding 52

Bidding Raw materials Procurement team Strategic sourcing 52