World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

IBM Supply Chain Blog

FEBRUARY 28, 2024

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

Sourcing 95

Sourcing Strategy Supply Chain Efficiency e2e 95

World of Procurement blog

APRIL 24, 2024

Procurement, however, is the broad orchestra conductor, encapsulating the strategic process of sourcing, negotiating, and managing the acquisition of goods and services essential for an organization's operations. Market Analysis & Sourcing Strategy : Understanding market dynamics and developing strategic sourcing plans.

Procurement 52

Procurement Supplier relationship management Strategic sourcing Strategic sourcing 52

Empowering CPO

JULY 2, 2023

Modern procurement services encompass a wide range of activities such as strategic sourcing, category management, contract negotiation, risk management, and supplier relationship management. However, in today’s complex and globalized economy, procurement goes far beyond simple buying.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

The Future of Procurement Technology Supplier Relationship Management (SRM) Enhancement: Justification : Strengthening supplier relationships through SRM initiatives fosters collaboration, innovation, and mutual growth. The Drive to an Automated World: Is it the End of the Road for Procurement?

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. It involves the process of identifying, selecting, acquiring, and managing resources that a business needs to fulfill its operations and meet its goals.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. It involves the process of identifying, selecting, acquiring, and managing resources that a business needs to fulfill its operations and meet its goals.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

IBM Supply Chain Blog

DECEMBER 13, 2023

Additional goals might be risk management and mitigation, supplier relationship management and sustainability considerations. Tasks such as vendor selection criteria, contract management and compliance initiatives should be clearly defined. Be flexible.

Procurement strategies 65

Procurement strategies Strategy Procurement Supply Chain Efficiency 65

Empowering CPO

JULY 17, 2023

Understanding Managed Procurement Services Acknowledging procurement’s strategic significance, an increasing number of businesses are embracing Managed Procurement Services (MPS). Strategic Sourcing : Identifying optimal suppliers, negotiating contracts, and nurturing long-term relationships.

Procurement 52

Procurement Supply Chain Optimization Supply Chain Efficiency Strategic sourcing 52

Empowering CPO

JUNE 30, 2023

They now encompass a wide range of activities including supplier selection and negotiation, contract management, risk assessment, spend analysis, and strategic sourcing, to name just a few. 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

Empowering CPO

JULY 2, 2023

However, with time, the function evolved, incorporating strategic elements such as supplier relationship management, risk management, and sustainable sourcing. Supplier Management: Nurturing relationships with suppliers, managing contracts, and ensuring performance and compliance.

Management 52

Management Procurement Strategic sourcing Strategic sourcing 52

Empowering CPO

JULY 17, 2023

Through these services, businesses can leverage the provider’s expertise, technologies, and relationships to enhance the efficiency and effectiveness of their procurement operations. 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

ivalua

AUGUST 17, 2021

However, it is important to understand the differences and varying degrees of focus between direct and indirect spend in procurement and sourcing. They will need to understand internal and external forces and increasingly get to grips with balancing cost savings with long term supplier relationships.

Procurement 130

Procurement Procurement team Sourcing Supplier relationship management 130

Una

NOVEMBER 2, 2023

Instead of being bogged down by the minutiae of procurement such as supplier negotiations and contract management, a GPO takes on these responsibilities, allowing you to allocate your time and resources where they matter most. On the contrary, GPOs are designed to align with your strategy, not replace it.

Negotiation 52

Negotiation Purchasing Strategic sourcing Strategic sourcing 52

Una

JUNE 15, 2023

10 Procurement Outsourcing Services Explore ten procurement outsourcing services available to help your sourcing function save more money, time, and effort. The CPO is supported by strategic sourcing managers, category managers, buyers, analysts, contract managers, a compliance officer, an SRM manager, and others as new roles emerge.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Empowering CPO

JUNE 30, 2023

In simple terms, they are a suite of services where a third-party provider, like EmpoweringCPO, manages various procurement functions on behalf of an organization. These services can range from strategic sourcing and supplier management to purchase order management and invoicing.

Management 40

Management Procurement Supply Chain Efficiency Strategic sourcing 40

SCMDOJO

FEBRUARY 13, 2023

Strategic sourcing: Procurement performs a market analysis to identify potential sources of supply and support the organization’s needs. Supplier relationship management: Procurement manages relationships with suppliers to ensure coordination and effective workflow.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

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. Case Studies of Innovative Procurement A.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 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. Take into account things like your current skill level, desired improvement areas, and professional objectives.

Cost of ownership 82

Cost of ownership Procurement Category management supply chain software solutions 82

Supply Chain Game Changer

JANUARY 21, 2020

CIPS (Chartered Institute of Procurement & Supply) defines eSourcing as “a broader concept as it incorporates the key elements of the buying process, such as knowledge, specification, requests for quotation/tender/e-auction, evaluation/negotiation and contract (CIPS: Electronic commerce and e-Business)”. Supplier Relationship Management.

Procurement 87

Procurement Supplier relationship management Eprocurement Suppliers 87

Empowering CPO

FEBRUARY 20, 2023

All Tools and Systems in Place: They should have the right kinds of tools for procure to pay process, this includes tools like Supplier Relationship Management, Contract Management, Sourcing (SFX), Auction Event Management Tools, and Spend Tools among others that may be required depending on the size and type of an organization.

Procurement 52

Procurement Cost of ownership Category management Sourcing 52

Empowering CPO

JUNE 26, 2023

These compliance obligations impact procurement processes, contract management, and supplier selection, requiring meticulous attention to detail and documentation. Spend analysis helps identify preferred suppliers, assess supplier performance, and negotiate contracts, fostering stronger relationships with key suppliers.

supply chain budgeting 52

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

Empowering CPO

MAY 5, 2023

It is responsible for managing the entire process of acquiring goods and services, from identifying suppliers to ensuring timely deliveries. In essence, procurement serves as the backbone of an organization’s supply chain, contributing to cost savings, risk management, and supplier relationship management.

Supply Chain Efficiency 52

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

Supply Chain Game Changer

MAY 8, 2019

CIPS (Chartered Institute of Procurement & Supply) defines eSourcing as “a broader concept as it incorporates the key elements of the buying process, such as knowledge, specification, requests for quotation/tender/e-auction, evaluation/negotiation and contract (CIPS: Electronic commerce and e-Business)”. Supplier Relationship Management.

Procurement 50

Procurement Supplier relationship management Eprocurement Suppliers 50

Empowering CPO

JUNE 30, 2023

It involves everything from identifying requirements, sourcing suppliers, negotiating contracts, managing orders, ensuring timely delivery, to evaluating supplier performance. Procure-to-Pay (P2P) Services: We manage the entire P2P process, from requisition to payment, ensuring efficiency, accuracy, and compliance.

Management 40

Management Procurement Real-time Visibility Supply Chain Efficiency 40

Let's Talk Supply Chain

MARCH 23, 2023

This month we’re proud to feature Erica Patterson, Director of Contracts Management & Supplier Diversity at Philadelphia Gas Works. Erica is an accomplished contracts specialist with education experience at the University of Phoenix where she earned a Doctorate in Management and Organizational Leadership.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Optimization supply chain software solutions Supply chain 52

ivalua

NOVEMBER 26, 2019

If you are getting started, you are likely looking to start with technology to address a specific process ( Strategic Sourcing or P2P for example). For advanced respondents looking to build a competitive advantage, the top obstacles are integration of S2P tools followed by Procurement’s change resistance (13%). Plan to avoid those.

Procurement 130

Procurement Sourcing Spend management Innovation 130

Procurement Software

MAY 14, 2024

Cost Savings and Supplier Relationship Management: The strategic and automated approach provided by process orchestration results in cost efficiencies, optimised supplier selection, and strengthened supplier relationships, driving overall value creation in procurement.

Procurement 52

Procurement Real-time Visibility e2e Chief Procurement Officer 52

Procurement Heads

JANUARY 4, 2023

Even at that point blue chip corporations recognised the value of procurement and understood that when you’ve got substantial third-party spend, it’s important to use strategic sourcing approaches. In 2020, I moved back into corporate life as Head Of Supplier Relationship Management with Coventry Building Society.

Supply Chain Efficiency 246

Supply Chain Efficiency Agile and Lean Supply Chain Sustainability Suppliers 246

CPO Rising

MARCH 22, 2024

It’s Friday, which means we’re sharing another CPO Rising Listicle. Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help procurement teams improve operations. We’ll also include a summary graphic for you to share with your team.

Chief Procurement Officer 40

Chief Procurement Officer Negotiation Contract Suppliers 40

Empowering CPO

JUNE 16, 2023

Risk Management: Spend Analysis can identify dependencies on certain suppliers, thereby helping to manage risks associated with supplier performance or market volatility. Spend Analysis also plays a pivotal role in strategic sourcing and procurement optimization.

Procurement 40

Procurement Data Real-time Visibility Suppliers 40

CPO Rising

MAY 12, 2023

Fridays (in 2023) means that it’s time for another CPO Rising Listicle. Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help procurement teams improve operations. We’ll also include a summary graphic for you to share with your team.

Chief Procurement Officer 52

Chief Procurement Officer Negotiation Contract Import 52

Procurement Software

JUNE 13, 2023

DeepStream DeepStream Technologies is a rapidly growing source-to-contract software based in London, providing an e-sourcing and contract management platform. They place a high focus on providing a great user experience and easy onboarding for suppliers. It takes care of the full eProcurement lifecycle.

supply chain software solutions 52

supply chain software solutions Contract management Contract Sourcing 52

ivalua

FEBRUARY 25, 2021

A purpose-built solution can enforce proper governance and standards, automate master data optimization activities, identify product standardization opportunities, and automate category management for strategic sourcing in supply chain. Demand planning capabilities.

supply chain budgeting 221

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

Procurement Software

MARCH 5, 2024

The software was founded by a group of seasoned procurement professionals who have developed a full-suite spend management platform with two overriding principles: time to value and ease of use. FRDM FRDM is a software company specialising in supply chain risk management.

Real-time Visibility 52

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

Empowering CPO

JUNE 27, 2023

Supplier Collaboration: Fostering closer collaboration and communication with suppliers through digital platforms and portals. This facilitates better supplier relationship management, enhances transparency, and enables effective supplier performance monitoring.

Real-time Visibility 40

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

Procurement Software

JULY 18, 2023

Procoto offers features including: Strategic sourcing Smart databasing Workflow approvals RFP management Data transformation The platform’s tools and analytics aim to level the playing field between small and large companies – giving leverage to SMEs. Contract Management 9.

Purchasing 52

Purchasing Contract Negotiation Real-time Visibility 52