article thumbnail

Next Phase of AI & Digital Category Management

Future Purchasing

Clearly, there is a potent argument for developing a category strategy for AI support in procurement, as all the key stages in category management 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.

article thumbnail

Spend Matters Future 5 2024 – Introducing True ValueHub

Spend Matters

To potential buyers — True ValueHub can save category managers 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 supply chain industry practitioners.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What About Procurement Objectives?

Procurement Templates

Action Steps: Automate Processes: Implement cutting-edge procurement software to automate routine tasks, reducing manual errors and boosting efficiency. Implement Lean Procurement Practices: Use lean management principles to minimize waste and streamline procurement operations. Cut the waffle and get to the point.

article thumbnail

How to Build a Successful Procurement Strategy in 2025

ivalua

No matter the focus, whether cost reduction and quality improvement, or supply chain optimization 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.

article thumbnail

How to Build a Successful Procurement Strategy in 2025

ivalua

No matter the focus, whether cost reduction and quality improvement, or supply chain optimization 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.

article thumbnail

Direct vs Indirect Procurement: Key Differences, Challenges, and Opportunities

ivalua

Direct and indirect procurement are two fundamental approaches in supply chain management, each serving distinct functions within an organization. Who Owns It in the Enterprise Typically, direct procurement is managed by supply chain or operations teams. It also includes travel and consultant spend.

article thumbnail

Strengthening procurement – Transforming through people and skills

Spend Matters

This role focuses on reducing supply chain risks through improved relationships, audits, and comprehensive evaluations of supplier performance at all levels of the chain. The Risk Manager. The category manager. The Quality and Sustainability Advocate.