World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Purchasing is more transactional and tactical. Purchasing focuses specifically on the buying transaction.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Zycus Cognitive Procurement

JANUARY 24, 2023

As per the experts “ PLAN for 2023 requires a synergy between people, process and technology aspects.” Technology: CPOs should look for an integrated platform to manage all the spending and processes, such as third-party risk, sourcing, supply chain, invoicing, contracting, and payments.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Empowering CPO

JUNE 14, 2023

These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing. The focus here is primarily on cost reduction, with procurement seen as a cost center rather than a value-add function. The necessity of incorporating sustainability into procurement practices.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

World of Procurement blog

MAY 8, 2024

What is Supply Chain Management (SCM) Supply Chain Management (SCM) is the management of the flow of goods, services, information and finances as they move from raw materials to final product, from manufacturer to consumer. The ultimate goal of SCM is to reduce costs while satisfying customer demands.

Agile and Lean Supply Chain 40

Agile and Lean Supply Chain Supply chain management Supply chain management Supply Chain Optimization 40

ivalua

FEBRUARY 25, 2021

ERP vs. Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? That’s the question we set out to answer in our recent panel discussion with Procurement and Supply Chain experts.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Supply Chain Game Changer

MARCH 18, 2021

Subscribe to Supply Chain Game Changer. Procurement professionals surveyed in the 2019 CPO Rising study responded that limited budgets and lack of modern procurement technologies were the top seen as the top 2 hurdles for achieving procurement objectives between 2020–2022 (CPO Rising 2019). Subscribe Here! Email Address.

Procurement team 61

Procurement team Procurement supply chain budgeting Agile and Lean Supply Chain 61