This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Subscribe What’s the Difference Between Commodity Management and CategoryManagement? The business that is selling either raw materials or processed goods has to deal with inventory management. With CM, one can: Optimize Sales Multiple SKUs increase the visibility of the brand.
SCMDOJO Academy elevates your procurement and supplychain skills through its extensive course library. Mastering Procurement – Essentials Skills and Competencies Mastering Procurement by Maryna Trepova is the ultimate Procurement and PurchaseManagement course for Engineers, Entrepreneurs, Managers, and Students.
To potential buyers — True ValueHub can save categorymanagers and buyers significant time and money by identifying new opportunities based on a deep analysis of costs and drivers. Unlike many ProcureTech companies, True ValueHub was founded and is run by procurement and supplychain industry practitioners.
No matter the focus, whether cost reduction and quality improvement, or supplychainoptimization and resilience, procurement must have a concrete role in delivering outcomes that matter to the business. Intake management software that supports these controls can help standardize how requests are handled and who gets involved.
No matter the focus, whether cost reduction and quality improvement, or supplychainoptimization and resilience, procurement must have a concrete role in delivering outcomes that matter to the business. Intake management software that supports these controls can help standardize how requests are handled and who gets involved.
Direct and indirect procurement are two fundamental approaches in supplychainmanagement, each serving distinct functions within an organization. Who Owns It in the Enterprise Typically, direct procurement is managed by supplychain or operations teams. Find Out More What Is Procurement?
When done right, spend analysis enables cost savings, supplier optimization, risk reduction, and more strategic sourcing decisions. Why Spend Analysis Fails to Scale Effectively For many organizations, spend analysis often starts with strong intentions to optimize costs and improve procurement strategies.
Big data and digital technologies support the aggregation of purchases across business units to improve performance, provide better spend analysis, and drive business value. Categorymanagement: Whereas spend management aims to depict the entire landscape, categorymanagement fills in the detail for each major spend category.
I recently hosted a webinar in which our star speaker was Lora Cecere, Founder at SupplyChain Insight. Supplychainmanagement typically does not fit very well with procurement, which is a challenge at the best of times, and can be a disaster in difficult times. As late as the 1990s, supplychains were very local.
It is a process that creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Assessment of the supply market (who offers what?) Such categories are better suited to tactical sourcing.
Acquisitions Coupa buys Cirtuo, adds categorymanagement to its spend management suite Coupa announced during its Inspire 2025 event that it has acquired Cirtuo, a provider of categorymanagement software. And they are testing the limits of procurement’s preparedness.
The process creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Draw up selection criteria optimizing outcomes against risk. Which Suppliers Are Truly Strategic?
This focus and track record however, was in some ways at the expense of fully optimizing and maximizing procurements total strategic value to the enterprise as a whole. The historical approach focused on reacting to operational elements, like a plant being short of potatoes, instead of demand driven supplymanagement processes.
Procurement teams now include specialists such as categorymanagers with deep market knowledge who drive sourcing events and significantly impact the companys bottom line. A prime example of this is sustainability: since a large portion of emissions lie within the supplychain, procurement holds a crucial lever here think Scope 3.
market volatility, supplier risk scores, spend thresholds), ensuring continuous optimization without manual rule changes. Prescriptive Adaptation: The ABM will not just predict outcomes but will prescribe optimal adaptive strategies for individual agents or the system as a whole.
Targeted Learning: SCMDOJO offers a range of courses and learning paths focusing on specific procurement areas, such as e-auctions, contract negotiation, cost optimization, and supplychain resilience. This allows you to tailor your learning to your particular needs.
However, these strategies often only account for direct procurement or the purchases associated with the products a company sells. Indirect spending, or those purchases that fall into the everything else categoryfrom IT equipment and professional services to payrollaren’t always held to the same standard. The list goes on.
The following sections explore how shared KPIs can be monitored to support financial reporting and budgeting, measure procurements impact through supplier performance, compliance and cost savings and optimize alignment efforts through tracking best practices. Category-based budgeting should align with corporate financial strategies.
Poll Time The following is a poll that was posted in the Global & PurchasingSupplyChain Professionals LinkedIn Group, which has over 164,000 members. Reality: No one invested time in proper training, and categorymanagers are still relying on spreadsheets. What is the edge one driver has over another?
The IDC MarketScape evaluated Direct Spend vendors for the strengths and challenges providing decision makers responsible for purchasing direct sourcing solutions with clear, actionable insight.
ERP vs. Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts.
Categorymanagement 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 categorymanagement and how it can benefit your organization.
In 2022, he was awarded the Special Mentioned Individual Award by SupplyChain Asia for his contribution to the national emergency procurement for the Covid-19 operation. Furthermore, He was voted by SupplyChain Digital as one of the top 10 procurement executives worldwide. Trillion budget. . Rajeev Karmacharya.
It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. When strategic procurement is done correctly, it can help an organization to optimize its profit margin, reduce risks, and streamline the process of purchasing goods and services needed to achieve business goals.
Benefits of a Group Purchasing Organization. A guide to exploring the benefits of working with a group purchasing organization to save money, time and effort. A group purchasing organization leverages the collective purchasing power of thousands of businesses to secure lower prices for their members. Savings and beyond.
In today’s dynamic business landscape, categorymanagement in procurement has become an essential weapon for procurement teams seeking to optimize spend, strengthen supplier relationships, and drive growth. This is where categorymanagement in procurement emerges as a game-changer.
It can also help drive sustainability initiatives in your supplychain and procurement process. . The Closed Loop Spend Management. Perform sustainable sourcing initiatives to optimize costs and reduce social and environmental impacts. . Manage and monitor cost savings and sustainability impact for each initiative.
Among these strategies, the role of supplychain capability stands out as a key factor in driving success. A well-optimizedsupplychain not only ensures efficient delivery and cost-effectiveness but also provides companies with a competitive advantage in the market.
In recent years, there has been a significant shift in the supplychain industry as more and more women are choosing careers in this traditionally male-dominated field. This rise of women in the supplychain is not only breaking gender barriers but also bringing a fresh perspective and new ideas to the table.
Categorymanagement is the strategic end-to-end process for managingcategories of related supplier spend that aligns business goals and requirements with supply market capability. Effective internal cross-functional working is the foundation of successful categorymanagement. Further reading.
Subscribe to SupplyChain Game Changer. A “Don’t Touch” Strategy will Dramatically Lean out your SupplyChain! I started thinking about the Costco SupplyChain. What is it that makes Costco’s SupplyChain so effective? There is less Master Data to be managed. .
A procurement playbook is a comprehensive document or set of guidelines that outlines the processes, procedures, best practices, and standards for managing procurement activities within an organization. It serves as a reference guide for procurement professionals and other stakeholders involved in purchasing goods and services.
O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategic sourcing, supplier relationship management, categorymanagement, vendor quality, sustainability, and compliance. Lastly, Ivalua will ensure seamless integration with O-I’s existing ERP platform, as well as several third-party solutions.
Before we tackle what strategic sourcing managers are, we must first know strategic sourcing to fully grasp their role in the company. . Strategic sourcing is a part of the supplychain and puts an emphasis on customized solutions and strategic partnerships. Time management. Strategic sourcing managers have a lot to do.
If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.
Introduction In the dynamic world of business, the ability to effectively manage and optimizesupplychains has emerged as a critical success factor. At the heart of this revolution lies a powerful tool that many companies are now leveraging to achieve competitive advantage: Managed Procurement Services.
A Wider Horizon You will be familiar with the idea of optimizing what you buy. Now, with the need to move beyond price and security of supply to sustainable and ethical sourcing, procurement must become a more strategic and proactive function. However, eventually achieving true enterprise-wide change will require so much more.
Among them were supplychain disruptions , inflation, and supply scarcity and shortages. Companies Will Scale Their Procurement Knowledge Base and Enablement Programs To Attract and Retain A New Profile of CategoryManagement Talent. The SupplyChain Will Continue to Heal. Inflation will go down.
Effective supplychainmanagement is essential for success in the dynamism and connectivity of modern companies. To accomplish this, you require the skills of supplychain experts who can manage the complexity and difficulties of today’s global supplychains. With a Ph.D.
eAuctions are online real-time dynamic discussions between one purchasing organization and a group of pre-qualified vendors competing for the purchaser’s trade. eAuctions technology can reduce the cost of purchasing products and services by up to 20%. It’s time for the Auctioneer to take the stage!
AI can help create greater efficiency and value across all source-to-pay processes, including spend analysis, opportunity identification, sourcing and contract management, categorymanagement, supply relationship management and risk management.
How to (Actually) Transform Your Business with Group Purchasing Learn how to transform your business with group purchasing and add an average of 18-22% savings per category to your bottom line. I’m known to buy things on sale and shop around for the best price when making a larger purchase. I also like a good deal.
And What is Purchasing? From the starting point of the traditional buy-sell, transaction-based purchasing, the practice has moved through stages of change that redefines most aspect of the business. This can be achieved through reduction in prices of purchased products & services and reduction in their specific consumption.
Subscribe to SupplyChain Game Changer. Featuring Our 10 Best Inventory Management Articles! As I settled into the job and started learning, and studying, the various SupplyChain metrics I was surprised when I looked at the Inventory Turnover performance of the company. Subscribe Here! Email Address.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content