Procurement Tactics

AUGUST 24, 2022

Supplier Networks — The Ultimate Guide of 2022. Supplier networks are important in the procurement industry to find your preferred supplier. In this article, we will discuss what supplier networks are. After this article, you will have an insight into what supplier networks are. Improved contract terms.

Networking 130

Networking Suppliers Buyers supply chain budgeting 130

Procurement Templates

APRIL 15, 2024

Stage 3: Build Relationships Days 21-30 Supplier Engagement: Identify key suppliers and initiate relationship-building activities, including meetings and performance reviews. Internal Collaboration: Foster collaboration with other departments to ensure alignment and support for procurement initiatives.

Procurement team 130

Procurement team Contract management Innovation Suppliers 130

Procurement Insights

DECEMBER 14, 2022

Titled “Moving Contract Management Beyond Dormant Enforcement,” I talk about the transformation of contracts from being a “tool of enforcement” to becoming a source of “actionable insight” to facilitate greater cooperation and success for buyer and seller. Justin Hiatt, Terzo.

Contract management 53

Contract management Contract Management Buyers 53

ivalua

JANUARY 29, 2020

For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market. That requires extraordinary work internally and co-ordination with key suppliers. The related objective for that firm is that no less than 70% of those new products should come from supplier-generated ideas. .

Collaboration 213

Collaboration Innovation Agile and Lean Supply Chain Procurement 213

ivalua

MARCH 5, 2020

Last week, round 40 Procurement leaders got together in the very pleasant surroundings of the Royal Lancaster Hotel in London to talk about collaboration, and to celebrate Ivalua’s increased presence in the UK. My own contribution was to lead a discussion around collaboration.

Collaboration 130

Collaboration Agile and Lean Supply Chain Procurement supply chain budgeting 130

ivalua

MARCH 24, 2022

Redwood City, CA – March 24th, 2022 – Ivalua, a global leader in spend management, today announced that it has been named a leader in The Forrester Wave : Supplier Value Management Platforms, Q1 2022. In today’s dynamic and uncertain environment, strong supplier relationships are a key competitive advantage. About Ivalua.

Suppliers 130

Suppliers Management Supply Chain Efficiency Supply chain resilience 130

Jaggaer

NOVEMBER 12, 2019

The result has been isolated applications, e.g. for supplier management and for P2P working in parallel with siloed data sets and limited or no synergy. Another disadvantage is that suppliers see little or no value. Solutions that provide better alignment between supply chain and procurement management.

Collaboration 78

Collaboration Suppliers Data supply chain software solutions 78

Procurement Tactics

MARCH 16, 2023

Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. Category Management Category management sorts your spending into areas with the same supplier markets. It enables the company to foster a deeper collaboration with its suppliers.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

The Procuretech Podcast

MARCH 1, 2022

Kicking off this week with the first of a number of interviews we'll be doing over the next couple of months with contract management platforms. My guest today is Elena Mechik of Berlin-based startup Inhubber, which offers a blockchain-based solution for contract management and tracking.

Contract management 40

Contract management Contract Management supply chain software solutions 40

Procurement Tactics

JULY 2, 2023

Laying out the relevant details such as the quality standards, quantities, and specifications of the subject goods or services as well as the other dependencies will allow for an effective collaboration and avoid misinterpretation. Effective Planning Effective planning is where everything starts. A clear budget 4.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

Procurement Insights

NOVEMBER 23, 2023

How do technologies impact the relationships between customers and suppliers? The Inspiration For This Post I recently read a post on LinkedIn talking about “the power of trust” between buyer and supplier. Note that they represented the supplier side interests.

Suppliers 72

Suppliers Buyers Risk management Supply Chain Optimization 72

Procurement Tactics

JUNE 19, 2023

Digitize collaboration Collaboration is a key factor for success in the procurement industry. It enhances supplier relationships, drives innovation, mitigates risks, enables continuous improvement, supports change management, and provides access to industry insights.

Procurement 201

Procurement Collaboration Procurement strategies supply chain software solutions 201

ivalua

FEBRUARY 10, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Procurement Templates

JUNE 18, 2023

Here are some strategies and practices that can be implemented: Long-term contracts: Procurement teams can negotiate long-term contracts with suppliers that include price adjustment mechanisms. Supplier diversification: Relying on a single supplier can increase vulnerability to price fluctuations.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

NLPA (Next Level Purchasing Association)

FEBRUARY 3, 2022

Correcting poor supplier performance is the other side of rewarding good supplier performance. When it is evident through your rating methodology that a supplier’s performance is inadequate, you need to meet with that supplier to improve performance. You may end up with the same or worse problems when switching suppliers.

Suppliers 52

Suppliers Collaboration Inventory Contract management 52

Jaggaer

MAY 19, 2020

“The automation has streamlined the Council’s contract management and supplier performance processes and as such we feel that this has increased our business efficiency and improved internal and third-party collaboration by reducing operating expenses.” – Tommy Burns, Procurement Project Officer – East Ayrshire Council.

Contract 52

Contract Suppliers Management Contract management 52

Zycus Cognitive Procurement

JULY 30, 2021

SUPPLIER RELATIONSHIP MANAGEMENT (SRM) MATURITY IS CORRELATED WITH PROFITABILITY. Hence, procurement teams are compelled to scale up, scale down, pause, or even accelerate processes depending on the market situation and current supplier dynamics. Concerns around supplier data integrity.

Supplier relationship management 52

Supplier relationship management Suppliers Management Procurement 52

Procurement Heads

JULY 26, 2023

I established some real cost savings for the company, by collaborating and using an external supply chain. We implement new contract management procedures so the whole organisation is working to the same contract management levels and principles. So we set KPIs for every contract, to monitor and benchmark.

Contract management 130

Contract management Contract Supply Chain Efficiency Price 130

Una

MAY 22, 2024

From general efficiency tips to procurement-specific strategies, we delve into automation, supplier self-service, AI technologies, and the time-saving, efficiency-boosting benefits of outsourcing to a group procurement organization like Una. Either way, there are several levers you can pull to do more with less in procurement.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization Procurement team 52

Zycus Cognitive Procurement

JANUARY 31, 2023

As businesses strive to remain competitive in times of economic uncertainty, there is an increased need for effective supplier relationship management. A strong collaboration between the purchaser and suppliers can result in lower costs and better quality products, while driving innovation.

Supplier relationship management 40

Supplier relationship management Suppliers Management Supply Chain Efficiency 40

Una

MAY 7, 2024

But in the world of procurement, should-cost analysis is a valuable exercise that can: Provide a benchmark for negotiating prices with suppliers Identify potential cost-saving opportunities , and Ensure that the prices being quoted are fair and reasonable. Instead, the focus should be on agreeing on a fair and reasonable price.

Procurement 52

Procurement Price Negotiation Supply Chain Efficiency 52

Procurement Templates

JUNE 18, 2023

She has focused on streamlining processes, fostering supplier relationships, and driving innovation in the automotive industry. She emphasized procurement excellence, cost management, and supplier diversity to ensure the company’s success in delivering advanced defense technologies.

Leadership 147

Leadership Procurement Agile and Lean Supply Chain Supply Chain Efficiency 147

Procurement Templates

MARCH 3, 2024

Market Research : Conducting research on available suppliers, products, and market trends is essential for making informed procurement decisions. This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation. Assess supplier performance, capabilities, reliability, and overall value delivered.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

NLPA (Next Level Purchasing Association)

FEBRUARY 14, 2024

This strategy unlocks benefits like cost reduction, risk management, and strong supplier relationships. Step 3: Develop Sourcing Strategies : Consider different sourcing strategies, like single-sourcing (reliable supplier, high volume) vs. multi-sourcing (competitive pricing, risk mitigation).

Procurement strategies 52

Procurement strategies Supply Chain Optimization Strategy Procurement 52

World of Procurement blog

APRIL 23, 2024

This technology helps identify bottlenecks, optimize inventory levels, and improve supplier relationships. Spend Analysis Tools These tools collect and analyze procurement data, offering insights into spending patterns, supplier performance, and potential cost savings. They also facilitate quicker contract retrieval and revision.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Real-time Visibility supply chain software solutions 52

World of Procurement blog

APRIL 23, 2024

This technology helps identify bottlenecks, optimize inventory levels, and improve supplier relationships. Spend Analysis Tools These tools collect and analyze procurement data, offering insights into spending patterns, supplier performance, and potential cost savings. They also facilitate quicker contract retrieval and revision.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Real-time Visibility supply chain software solutions 52

ivalua

FEBRUARY 27, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which provide procurement with the tools needed to maximize the value they get from their supplier relationships, automate and streamline processes, and identify opportunities for cost savings. Let’s explore further.

Real-time Visibility 130

Real-time Visibility Procurement Agile and Lean Supply Chain supply chain budgeting 130

World of Procurement blog

APRIL 24, 2024

It's a multifaceted journey from identifying the need for a product or service to the final steps of contract closure and post-purchase evaluation. Identifying the Key Procurement Stakeholders Procurement isn't a solo expedition; it's a collaborative venture. Q: What role does technology play in modern procurement?

Supply Chain Efficiency 52

Supply Chain Efficiency Ethics Procurement Sustainability 52

Empowering CPO

JULY 2, 2023

Yet, the intricacies of this process, especially in terms of supplier management, can present a myriad of challenges. Enter EmpoweringCPO, a dedicated procurement services company committed to transforming the way businesses manage their procurement needs.

Risk management 40

Risk management Risk Suppliers Management 40

ivalua

MAY 17, 2023

Collaboration is key to a successful solution and we are able to achieve this with innovative partnerships. This year, our discussions covered Invoice Automation, Scope 3 Emissions, Contract Management, Supply Chain Collaboration, Indirect/Services Procurement, and Supplier Management–Customer of Choice.

Supply chain resilience 130

Supply chain resilience Agile and Lean Supply Chain Supply Chain Efficiency Supply Chain Optimization 130

Una

JUNE 5, 2024

It’s not just about having a backup supplier or two – it’s about building an entire ecosystem that can flex and pivot as needed. Key elements include diversified sourcing, real-time visibility, strategic inventory management, and the ability to quickly respond to disruptions. The lesson? Diversification is king.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Efficiency Supply chain Real-time Visibility 52

Bonfire

APRIL 3, 2023

Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managing suppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to manage supplier contracts and agreements.

Eprocurement 52

Eprocurement Bidding Strategic sourcing Strategic sourcing 52

Spend Matters

JULY 21, 2022

It currently offers a SxM solution that is rapidly growing to cover other processes (sourcing, contract management, order collaboration, cost optimization). Therefore, they launched Procurence to fill that gap and to serve to foster communication and collaboration between an organization, its suppliers and its customers.

Market analysis 67

Market analysis Procurement Quality management Supply Chain Optimization 67

World of Procurement blog

APRIL 23, 2024

They ensure the company gets the best possible deals in terms of quality, cost, and delivery times by skilfully negotiating with suppliers and vendors. Supplier Management: Identifying, evaluating, and engaging suppliers. Building and maintaining strong relationships with vendors for long-term collaboration.

supply chain budgeting 52

supply chain budgeting Management Procurement Chief Procurement Officer 52

World of Procurement blog

APRIL 23, 2024

They ensure the company gets the best possible deals in terms of quality, cost, and delivery times by skilfully negotiating with suppliers and vendors. Supplier Management: Identifying, evaluating, and engaging suppliers. Building and maintaining strong relationships with vendors for long-term collaboration.

supply chain budgeting 52

supply chain budgeting Management Procurement Chief Procurement Officer 52

World of Procurement blog

MAY 10, 2024

Conducting market research : AI can scan the web to collect pricing information, identify potential suppliers, assess supplier reputations, and keep up-to-date with market and industry trends. Enhancing contract management : Natural language processing enables AI to extract key data from contracts.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

SCMDOJO

APRIL 20, 2023

Within this department, the procurement manager plays a key role in overseeing the entire process, from identifying the need for goods or services to negotiating contracts with suppliers. Read More: Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities ] What does a Procurement Manager do?

Management 98

Management Procurement Contract management Supply Chain Optimization 98