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

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. Our contract management and supplier relationship management services help manage the risks associated with procurement.

Management 40

Management Procurement Supply Chain Efficiency Supplier relationship management 40

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.

Procurement 90

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 90

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. It requires deep market knowledge, strong analytical skills, and cross-functional collaboration.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

ivalua

FEBRUARY 25, 2021

According to the panelists, there are some key features and functionality that make best-in-class supply chain solutions a better choice for healthcare organizations: Guided procure-to-pay compliance: The concept of compliant purchasing in healthcare encompases the front-end user experience. Efficient warehouse management.

supply chain budgeting 221

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

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. Procurement professionals had to sift through piles of invoices, purchase orders, and receipts to manually categorize and analyze spending patterns.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40