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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?
Clearly, there is a potent argument for developing a category strategy for AI support in procurement, as all the key stages in categorymanagement immediately apply to understanding what we want and need. This is often a manual process and influenced by recency, familiarity, history, and data-free opinions.
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 supplychain optimization and resilience, procurement must have a concrete role in delivering outcomes that matter to the business. Intake managementsoftware 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 supplychain optimization and resilience, procurement must have a concrete role in delivering outcomes that matter to the business. Intake managementsoftware that supports these controls can help standardize how requests are handled and who gets involved.
Success depends on integration, transparency, and alignment with help from modern spend analysis software that supports trusted data, configurable logic, and cross-functional collaboration. Schedule a demo of Ivalua’s Spend Analysis solution today! Discover hidden savings and take control of your spend. The culprit?
In procurement, these MVPs are the professionals driving smarter and more sustainable purchasing decisions. This role focuses on reducing supplychain risks through improved relationships, audits, and comprehensive evaluations of supplier performance at all levels of the chain. The Risk Manager.
Unlike our colleagues purchasing direct materials, measuring hard savings – i.e. those visible on the P&L statement – becomes a complex puzzle in the indirect space. How do you consistently generate measurable savings on categories that are purchased irregularly or have highly variable specifications?
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.
Fewer Emails Procurement teams typically manage more suppliers than Sales teams do customers. Dealing with all of these contracts, sourcing events and purchase requests simultaneously, without a digital solution, results in email overload.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical CategoryManager often spends at least a third of their time performing busywork. Adults should be treated as adults.
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.
The process creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. In some categories it makes sense to conduct a competitive sourcing event, for example an online auction using eSourcing software.
CategoryManagers memorised ERP commands as if they were sacred. Categorymanagement Modern categorymanagers orchestrate ecosystems of suppliers, technologies, and internal stakeholders. They design category strategies that integrate seamlessly with business innovation cycles.
Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the SupplyChain department working on a number of different projects. In addition, the broader supplychain organization was working to implement other new tools and processes.
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 categorymanagementsoftware. And they are testing the limits of procurement’s preparedness.
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.
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?
Watch industry leader Rachel Repper of Amazon, recruitment expert Andrew Daley, Mark Webb and Mark Hubbard of Future Purchasing for a practical discussion on the State of Procurement Training in 2025 and how to deliver a measurable ROI from investing in your team.
Ivalua’s new Environmental Impact Center empowers Procurement and SupplyChain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions. This data is accessible across Ivalua’s Source-to-Pay solution to facilitate more sustainable procurement decisions within daily operations.
ERP vs. Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychainsolutions 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.
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.
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.
It can also help drive sustainability initiatives in your supplychain and procurement process. . The Closed Loop Spend Management. For example, for everything that you procure, there will be a corresponding impact embodied in your purchase such as the water or carbon in its creation. What is closed loop spend management?
The company provides packaging solutions to some of the world’s leading global food and beverage manufacturers including Coca-Cola, Heineken, Molson Coors, Nestle, and PepsiCo. Ivalua is a leading provider of cloud-based Spend Managementsoftware. About Ivalua.
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!
Read More: Top 10 SupplyChainManagement Courses to Boost Your Career ] Accreditation and Industry Recognition Check to see if the training programme is acknowledged by the procurement sector or accredited by the relevant professional organizations. What is procurement and purchasing Lesson 2. Types of procurement.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical CategoryManager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.
Spend analytics software would be the first tech investment I’d make in a greenfield Head of Procurement role. To do this quickly and efficiently, spend analytics software is your best friend. This usually justifies the business case to invest in spend analytics software to categorise this quickly and more easily.
Written by Jonathan O’Brien , leading procurement expert and CEO of Positive Purchasing Ltd. Going forward, I think we need to be far more entrepreneurial in our mindset as we solve the challenges of an increasingly global supplychain and diversified supply base.
Why is spend analytics software so important? And yet, especially in many manufacturing industries, goods and services purchased from external suppliers can account for 60% of a company’s revenue. Some of the advantages that procurement analytics software can provide. Who will be the main users of the software?
Why is spend analytics software so important? And yet, especially in many manufacturing industries, goods and services purchased from external suppliers can account for 60% of a company’s revenue. Some of the advantages that procurement analytics software can provide. Who will be the main users of the software?
In this episode of the Procuretech Podcast, host James Meads is joined by a multiple published author, procurement training business owner and SaaS entrepreneur - Jonathan O'Brien, CEO of Positive Purchasing. Sustainability, supplychain risk, digital transformation and visibility. Categorymanagement is the first step.
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.
Pere Sivecas , Spend Matters Development PM and Software Architect, has compiled a four-part video series that covers the basics you need to know, the first two of which are free while parts three and four require a basic Insider subscription.
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.
Demand management embedded within the procurement process. How is this considered throughout the supplychain and reported at a senior level. Organisation undertakes a full assessment of the waste within the supplychain in relation to risk-based existing contracts. a purchaser of simple machine tools).
Inventory valuation plays a crucial role in procurement and supplychainmanagement. This article explores the key differences, advantages, and practical considerations of FIFO LIFO for procurement and supplychain professionals. Works seamlessly with inventory managementsoftware to automate stock rotation.
What makes FIFO (First-In, First-Out) such a vital strategy for inventory management in Purchasing and Procurement? In the fast-paced and ever-changing world of supplychains, FIFO stands out as a simple yet transformative approach. Logistics & SupplyChain : Enhances throughput in distribution centers.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical CategoryManager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.
2021 saw a massive amount of challenge for procurement teams; supplychainmanagement challenges, political changes, trade barriers, COVID related staff shortages in all areas, blocked ports and working from home have thrown it all up into the air. At its heart lie a few easy to apply concepts.
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