Remove Contract management Remove Cost of ownership Remove Purchasing Remove supply chain software solutions
article thumbnail

Inflation & Procurement

Procurement Templates

ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. Inflation occurs when there is an imbalance between the supply and demand of money and goods. What is inflation?

article thumbnail

6 Essential Procurement Training Courses for Professionals: How To Begin and Advance Your Career in Procurement

SCMDOJO

Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. What is procurement and purchasing Lesson 2. Procurement and Purchasing Cycle Lesson 7. Trends and tendencies in procurement Lesson 3.

professionals

Sign Up for our Newsletter

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

article thumbnail

Top Competencies of Procurement Professionals

NLPA (Next Level Purchasing Association)

With the increasing complexity of supply chains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. However, failing to strategically measure purchasing performance can have significant impacts.

article thumbnail

Top 10 Procurement Best Practices for Modern Businesses

Empowering CPO

Importance of procurement in modern businesses In today’s fast-paced and competitive business landscape, procurement plays a crucial role in driving efficiency, cost savings, and overall success. Cost savings: Digital procurement systems can help identify opportunities for cost reduction, enabling businesses to optimize their spending.

article thumbnail

ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

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.

article thumbnail

A Deep Dive into Category Spend Analysis: Maximizing Value in Procurement

Empowering CPO

By proactively addressing these risks, organizations can minimize disruptions and ensure a reliable supply chain. Consolidating spend with fewer suppliers can lead to volume discounts, improved pricing terms, and streamlined supplier management.

article thumbnail

CMMS vs. EAM: Two asset management tools that work great together

IBM Supply Chain Blog

The growing complexity and scale of operations across industries and the need to track, monitor and manage assets, have been driving the evolution of advanced asset management software. A CMMS automates critical asset management workflows and makes them accessible and auditable. Let’s explore these in more depth.