Contract management Purchasing Risk management Supply chain resilience 
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.
Empowering CPO
JUNE 30, 2023
These experts don’t just handle the purchasing, but they also bring in their knowledge, skills, and technology to streamline the process, manage risks, and ultimately, unlock greater value for the business. But in today’s complex business environment, procurement services have evolved beyond these basic functions.
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Zycus Cognitive Procurement
JANUARY 24, 2023
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. As per Zycus’ Pulse of Procurement Survey, risk management was the top procurement priority for CPOs in 2022.
Procurement Software
APRIL 2, 2024
May also have integrations with other data points, or offer vendor intake or contract management capability. Enterprise-level spend analytics software can easily be purchased within this price bracket. Third Party Risk Management Software Resilinc Resilinc offers a comprehensive solution for enhancing supply chain resiliency.
Supply Chain Game Changer
APRIL 15, 2020
Recent reports pictured about from Deloitte’s CPO Survey in 2019 found that 81% of Procurement Leaders aren’t satisfied with their solutions for Supply Chain Risk & Compliance, 71% aren’t satisfied with existing solutions for SIM, SRM & SPM, 64% aren’t satisfied with their solutions for Contract Management.
Empowering CPO
JUNE 14, 2023
It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing.
Empowering CPO
JUNE 27, 2023
Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement. This granularity allows procurement teams to identify specific areas for improvement, negotiate better contracts, and optimize supplier relationships.
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