World of Procurement blog

APRIL 23, 2024

Procurement analytics is the process of collecting, processing, and analyzing data related to an organization's purchasing activities to improve efficiency, reduce costs, and provide valuable insights into supply chain operations. This can be broken down by suppliers, departments, or individual goods and services.

Procurement 52

Procurement Supply Chain Optimization supply chain budgeting supply chain software solutions 52

World of Procurement blog

APRIL 23, 2024

Procurement analytics is the process of collecting, processing, and analyzing data related to an organization's purchasing activities to improve efficiency, reduce costs, and provide valuable insights into supply chain operations. This can be broken down by suppliers, departments, or individual goods and services.

Procurement 52

Procurement Supply Chain Optimization supply chain budgeting supply chain software solutions 52

ivalua

FEBRUARY 10, 2023

It also has an impact on procurement teams as they are responsible for managing supplier relationships, identifying opportunities for cost savings, and ensuring that goods and services are delivered on time and within budget.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Procurify

JULY 20, 2022

If you are a purchasing manager struggling to meet your saving targets, you’re not alone. . Although cost-saving has been a top priority for a long time, new requirements in procurement are surfacing and bringing challenges with them. Risk management and mitigation. Written by: Procurify. Lack of visibility.

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Procurement Heads

JANUARY 30, 2023

I am an IT Buyer and procure software and hardware. I am responsible for the purchasing activities of Balfour Beatty on a large scale worth millions of pounds and have to make important decisions on what to recommend to our internal stakeholders and CIO. My role also involves ad-hoc IT renewals and managing this process.

supply chain budgeting 130

supply chain budgeting supply chain software solutions Negotiation Real-time Visibility 130

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

Procurement Software

APRIL 2, 2024

But often, those who aren’t familiar with the procurement software market mistakenly overestimate the cost. You don’t need a 6-figure software budget or a large sum to hire consultants for implementation. There’s plenty of digital procurement solutions out there for every budget. Let’s dive in.

supply chain budgeting 52

supply chain budgeting supply chain software solutions Procurement Budget 52

The Procuretech Podcast

OCTOBER 3, 2022

In this episode, we're going to extend that a little bit and talk about supply chain. Democratising Supply Chain Training - Dr. Muddassir Ahmed from SCM Dojo . Today's guest is a big personality in the supply chain space: Dr. Muddassir Ahmed, CEO of SCM Dojo. . He then moved to the UK for a PhD scholarship.

supply chain software solutions 40

supply chain software solutions supply chain budgeting Supply chain Supply 40

Arkestro

JANUARY 23, 2024

Procurement managers play a key role in this rapid growth, helping organizations optimize costs, negotiate favorable terms with suppliers, and ensure financial efficiency. The best procurement managers are masters of risk mitigation and budget management, while also maintaining high quality standards and a competitive edge.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Arkestro

MARCH 27, 2024

After years of focusing on cost reduction, the majority of procurement leaders say they plan to spend more and increase workloads in 2024, meaning procurement buyers will have more power to influence change and optimize spend across the entire supply chain. But what does a procurement buyer do, exactly?

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

NLPA (Next Level Purchasing Association)

JULY 20, 2023

To new members of a Procurement & Purchasing team, it’s important to understand the role of managing spend and its impact on organizational success. At its core, managing spend refers to the process of strategically controlling and optimizing the financial resources allocated for procurement and purchasing activities.

Management 40

Management supply chain budgeting supply chain software solutions Spend management 40

Arkestro

APRIL 25, 2023

The workforce shortage reached half a million this year , and many sectors continue to grapple with increased lead times, and volatile material costs. In fact, 71% of all companies said the cost of raw materials is the biggest threat to their supply chain in 2023. from February 2020 to August 2022.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing supply chain budgeting Real-time Visibility 52

Procurement Tactics

AUGUST 31, 2022

A great e-invoicing software will have numerous levels of security measures to safeguard records and confidential information from hackers. . Using e-invoice software can minimize late payments. Features of E-Invoicing Software. Managing old invoices is difficult. E-Invoicing Software Tools in 2022.

supply chain software solutions 130

supply chain software solutions Procurement supply chain budgeting Supply Chain Efficiency 130

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

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.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Procurement Tactics

AUGUST 24, 2022

Thus, it reduces costs and increases the profits of organizations. . Usually, organizations like supplier networks due to the following reasons: Reduced purchasing cycle times. Reduces paper invoice volume and manual processing. Contract management. Reduced purchasing cycle times.

Networking 130

Networking Suppliers Buyers supply chain budgeting 130

Planergy

MARCH 2, 2023

Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency. It’s an important part of any organization’s financial management, as it helps identify wasteful spending and uncover potential savings.

supply chain budgeting 52

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

World of Procurement blog

MAY 10, 2024

Some of the key capabilities and use cases for AI in procurement include: Automating repetitive and routine tasks : AI can take over low-value tasks like invoice processing, purchase order creation, expense report auditing, and other administrative workflows. This improves compliance and reduces contractual risks.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

SCMDOJO

JULY 3, 2023

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.

Cost of ownership 78

Cost of ownership Procurement Category management supply chain software solutions 78

World of Procurement blog

JULY 27, 2021

You were probably expecting us to state it is “to buy or purchase a service or an object”. Whilst Procurement can often be carried out via a purchase, it is more than just purchasing. You’ll also notice that Procurement is often talked about as part of the Supply Chain. How to do Procurement?

Procurement 52

Procurement Procurement team supply chain budgeting Contract management 52

Pipefy

MAY 23, 2023

In its long history , procurement has evolved from self-contained purchasing entities to an essential business partner handling processes involving several departments and many subprocesses. Below we’ll cover digital procurement solutions, essential features, and their benefits for optimized digital procurement workflows.

Procurement solutions 52

Procurement solutions Procurement e2e supply chain software solutions 52

Procurement Software

NOVEMBER 28, 2022

This statistic comes from a recent article all about the procurement analytics software market and its potential to explode in terms of growth. In other words, I would lump e-sourcing, contract management and certain supply chain risk and resilience technology into this definition too. during that period.

Procurement 59

Procurement supply chain software solutions supply chain budgeting Supply Chain Efficiency 59

Procurement Software

MARCH 11, 2022

Typically, the value that a procurement professional contributes to a business can usually be measured either in: Hard cost savings, or; Other, less tangible but equally important forms of value: Cost avoidance. Sustainability initiatives within the supply chain. Third party risk management. Supplier innovation.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

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 26, 2023

Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Procurement Software

MARCH 11, 2022

Typically, the value that a procurement professional contributes to a business can usually be measured either in: Hard cost savings, or; Other, less tangible but equally important forms of value: Cost avoidance. Sustainability initiatives within the supply chain. Third party risk management. Supplier innovation.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 52

Empowering CPO

JULY 2, 2023

If you’re new to the term, Managed Procurement Services refers to the outsourcing of a company’s procurement functions to a specialized firm. This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reduce costs.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Supply Chain Game Changer

NOVEMBER 22, 2018

Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? The company is exploring whether or not to outsource IT, Accounting/Finance, Payroll, Human Resources, Software and Hardware Development, because they have been in the red at more than $100 million. What is happening in the marketplace?

supply chain budgeting 63

supply chain budgeting Procurement Supply Chain Efficiency supply chain software solutions 63

Empowering CPO

JULY 17, 2023

From securing raw materials to procuring top-tier services, these purchases directly impact a company’s efficiency, productivity, and bottom line. From supplier relationship management to purchasing and payment processing, MPS providers cover a wide spectrum of procurement-related activities.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Supply Chain Optimization 52

Empowering CPO

MAY 11, 2023

Definition and Concept Sustainable procurement is a procurement method that integrates environmental and social considerations into decisions alongside the traditional parameters of cost, quality, and delivery. Practices, Starbucks sets a variety of social, economic, and environmental standards for coffee purchasing.

Sustainability 52

Sustainability Procurement Supply Chain Efficiency Raw materials 52

Procurement Tactics

OCTOBER 18, 2022

Supplier Relationship Management Software — Everything You Should Know. Supplier relationship management software is a very important factor for procurement managers to strengthen their relationship with their suppliers. However, what is this supplier relationship management software?

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

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

Procurement Software

JUNE 13, 2023

There doesn’t seem to be a month go by without a new solution coming onto the market offering eSourcing software as part of their offering. Knowing which solution is suited to your business and level of procurement maturity is a minefield. Which eSourcing solutions are best suited to mid-market businesses?

supply chain software solutions 52

supply chain software solutions Contract management Contract Sourcing 52

Una

JULY 6, 2022

Benefits of a Group Purchasing Organization. A guide to exploring the benefits of working with a group purchasing organization to save money, time and effort. A group purchasing organization leverages the collective purchasing power of thousands of businesses to secure lower prices for their members. Cost Savings.

Purchasing 92

Purchasing Category management Real-time Visibility Supply Chain Efficiency 92

Procurement Templates

JUNE 18, 2023

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?

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

ivalua

MARCH 9, 2023

Upstream covers all the strategic procurement activities such as spend analysis, sourcing, contract management and supplier management (which includes supplier information, risk and performance management). Contract Management: The piece that connects the upstream and the downstream, where value starts being captured.

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

Pipefy

JANUARY 30, 2024

That’s where procurement, sourcing, and purchasing technology comes in. Learn about six solutions that can be applied in 2024, why you should apply them, and how to get started. Finally, procurement teams are responsible for anticipating and responding to disruptions in the supply chain and their own process.

Agile and Lean Supply Chain 52

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

Procurement Software

MARCH 5, 2024

If you want to search the whole range of procurement tech companies out there beyond just startups, then check our our free software directory. Focal Point Focal Point is a growing Atlanta-based procurement startup offering a unique solution tacking three different challenges within procurement.

Real-time Visibility 52

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