Procurement Tactics

JUNE 7, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Supplier Collaboration Software — What You Should Know The use of supplier collaboration software continues to rise as businesses grow and technology advances. However, what is it?

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supply chain software solutions Collaboration Suppliers Supply Chain Efficiency 130

Procurement Templates

APRIL 15, 2024

Stage 3: Build Relationships Days 21-30 Supplier Engagement: Identify key suppliers and initiate relationship-building activities, including meetings and performance reviews. Contract Management: Review and standardize contract management processes to improve compliance and reduce contractual risks.

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Procurement team Contract management Innovation Suppliers 130

World of Procurement blog

JANUARY 12, 2022

Over Christmas, I started thinking about the top Contract Management trends for 2022. One general observation I have of us Contract Managers is that there is a fantastic opportunity to become more closely aligned with our Legal colleagues. I’ve been reviewing a lot of contracts.

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Contract management Contract Management e2e 52

Value Match

AUGUST 11, 2022

Management of PPE Contracts. 58% of this value has been awarded for products and suppliers whilst 41% was dedicated to procuring related services. 6 actions to manage and mitigate risk. For critical contracts, ensure there are executive sponsors and internal transparency around service and commercial performance.

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Contract management Contract Management Bidding 52

ivalua

APRIL 25, 2023

Ivalua, a global leader in spend management , and KPMG Norway today announced that Aker BP has gone live with Ivalua’s S2C and Supplier Relationship and Risk Management (SRM) solutions to streamline its direct and indirect procurement operations. About Ivalua Ivalua is a leading provider of cloud-based Spend Management software.

Contract 130

Contract Suppliers Supply Chain Efficiency Sourcing 130

Procurement Insights

DECEMBER 14, 2022

Titled “Moving Contract Management Beyond Dormant Enforcement,” I talk about the transformation of contracts from being a “tool of enforcement” to becoming a source of “actionable insight” to facilitate greater cooperation and success for buyer and seller. Justin Hiatt, Terzo.

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Contract management Contract Management Buyers 48

Procurement Tactics

AUGUST 24, 2022

Supplier Networks — The Ultimate Guide of 2022. Supplier networks are important in the procurement industry to find your preferred supplier. In this article, we will discuss what supplier networks are. After this article, you will have an insight into what supplier networks are. Improved contract terms.

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Networking Suppliers Buyers supply chain budgeting 130

ivalua

MARCH 24, 2022

Redwood City, CA – March 24th, 2022 – Ivalua, a global leader in spend management, today announced that it has been named a leader in The Forrester Wave : Supplier Value Management Platforms, Q1 2022. In today’s dynamic and uncertain environment, strong supplier relationships are a key competitive advantage. About Ivalua.

Suppliers 130

Suppliers Management Supply Chain Efficiency Supply chain resilience 130

ProcurePort

OCTOBER 9, 2023

Contract management is a critical aspect of manufacturing operations, impacting everything from procurement to supplier relationships. While advanced technology on the production floor is essential, the […] The post Revolutionizing Manufacturing Contracts: The AI Advantage appeared first on ProcurePort Blog.

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Contract Contract management Strategy Suppliers 130

The Procuretech Podcast

MAY 20, 2020

We talk about how the human touch, combined with automation of repetitive tasks, is the best solution when considering how to best manage your supplier contracts. Contract Management – Daniel Barnes from Ikaros Consultancy 2:42 Daniel explains how he landed into the contract management space in the procurement world.

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Procurement Tactics

JUNE 22, 2023

That’s why for today, we will explore the differences between the sales order and purchase order and highlight some software commonly used to manage these orders. A sales order is a confirmation document a supplier/seller issued to the buyer. A purchase order is a document created and issued by the buyer to a seller/supplier.

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Purchase orders Purchasing supply chain software solutions Buyers 200

Procurement Templates

MARCH 7, 2024

Key components typically found in a procurement playbook include: Procurement policies and procedures: Clearly defined rules and regulations governing procurement processes, such as vendor selection criteria, bidding procedures, and contract management protocols.

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Supply Chain Efficiency Procurement Ethics Contract management 130

The Procuretech Podcast

MARCH 1, 2022

Kicking off this week with the first of a number of interviews we'll be doing over the next couple of months with contract management platforms. My guest today is Elena Mechik of Berlin-based startup Inhubber, which offers a blockchain-based solution for contract management and tracking.

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Contract management Contract Management supply chain software solutions 40

Zycus Cognitive Procurement

DECEMBER 1, 2020

There are many benefits of contract management software, especially in today’s world. Also, contract management software provides the legal, procurement, financial, sales, and contract administration teams with a useful set of tools to effectively and efficiently manage the entire contract management process.

Contract management 40

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Procurement Tactics

MARCH 16, 2023

Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. Category Management Category management sorts your spending into areas with the same supplier markets. It enables the company to foster a deeper collaboration with its suppliers.

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Procurement Procurement strategies supply chain budgeting Contract management 238

World of Procurement blog

JULY 27, 2021

Why you need a Contract Lifecycle Management System Contract Lifecycle Management (CLM) systems are a must-have for effective Contract Management. There is no way you would want to build a process outside of the CLM to ensure "you were doing Contract Management" without implementing it.

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Contract management Contract Management Contract administration 52

Procurement Insights

NOVEMBER 23, 2023

How do technologies impact the relationships between customers and suppliers? The Inspiration For This Post I recently read a post on LinkedIn talking about “the power of trust” between buyer and supplier. Note that they represented the supplier side interests.

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Suppliers Buyers Risk management Supply Chain Optimization 65

ivalua

DECEMBER 21, 2021

Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.

Contract 130

Contract Sourcing Suppliers Data 130

CPO Rising

MARCH 10, 2023

The Best-in-Class contract management approach is multi-tiered, relying on an interconnected series of capabilities that ultimately drive visibility and insights and are founded on repeatable principles via the standardization, automation, and linkage of key processes (e.g.,

Contract 52

Contract Strategic sourcing Strategic sourcing Contract management 52

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. Supplier Performance The quality, timeliness, and adherence to contractual commitments of suppliers shall be monitored. This approach promotes efficiency throughout the whole procurement process.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

ivalua

JUNE 10, 2020

From inventory management to customer shipping, leave nothing to chance when it comes to supply chain risks. With that in mind, let’s take a look at how supplier risk management can benefit your business and prevent the disruption of services. Understanding Supplier Risk Management. Product recalls.

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Risk management Risk Suppliers Management 147

ProcurePort

MAY 19, 2021

Any marketplace is going to be influenced by the dynamic that develops between buyers and suppliers. In procurement, the practice of maintaining vendor relationships is known as supplier management. Supplier management is arguably one of […]. The post What is Supplier Management?

Suppliers 130

Suppliers Vendor relationships Management Influencing 130

Procurement Templates

NOVEMBER 13, 2022

Quite simply the Pareto rule is to concentrate 80% of your spend time and effort in 20% of your suppliers, or if you are able to be even more efficient aim for 90% of your spend in the top 10 suppliers. Review the c ategory management opportunities. Carry out Contract Management. Execute the pre- sourcing steps.

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Procurement Contract management Contract Sourcing 130

The Procuretech Podcast

SEPTEMBER 5, 2023

00:03:40] Contract life cycle management. [00:10:01] 00:10:01] Post-signature contract lifecycle management. [00:11:01] 00:14:09] Leveraging supplier relationships. [00:18:20] 00:18:20] Value leakage in contracts. [00:22:10] Timestamps: [00:02:00] Introducing Dominique Kindt CEO of With and Birdseye. [00:03:40]

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Contract Contract management Management Negotiation 40

NLPA (Next Level Purchasing Association)

FEBRUARY 3, 2022

Correcting poor supplier performance is the other side of rewarding good supplier performance. When it is evident through your rating methodology that a supplier’s performance is inadequate, you need to meet with that supplier to improve performance. You may end up with the same or worse problems when switching suppliers.

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Suppliers Collaboration Inventory Contract management 52

Spend Matters

MAY 22, 2023

Categories: Spend Analysis Tags: PRO In this Spend Matters PRO Vendor Analysis , we provide an overview of Ignite Procurement and its solution for spend analytics, supplier management and carbon accounting. We originally covered Ignite Procurement in 2020 only two years after it launched its product.

Suppliers 60

Suppliers Management Procurement Contract management 60

ivalua

DECEMBER 17, 2019

Procure-to-pay (P2P) automation and analytics won’t work very well without accurate supplier master data. This Gartner report, “Gain Control Over Your Supplier Master Data Before It’s Too Late,” has lots of ideas for improvement. Accurate supplier master data is just one aspect of a Digital Procurement journey.

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Data Suppliers Risk Procurement 130

Spend Matters

MARCH 11, 2024

It provides customers with a platform that connects buyers with qualified suppliers and offers a range of capabilities (in-app and as services) such as category management, demand management, e-sourcing, auctions, supplier management and contract management.

Procurement solutions 102

Procurement solutions Sourcing Procurement Market analysis 102

Procurement Tactics

JULY 2, 2023

Supplier Selection Another key factor to consider when making a successful job order is by identifying the right supplier for your procurement. Procurement professionals can assess the prospective suppliers on the basis of their ability and commitment to comply with the criteria and metrics need for your business procurement needs.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

ivalua

SEPTEMBER 20, 2021

Rapid Optimization of Contract Management, Supplier Management and Direct Materials Sourcing. Asian Paints conceptualized a technology solution using Ivalua’s Supplier Information Management , Sourcing and Contract Management solutions to streamline the end-to-end contract management and sourcing processes. .

Contract 130

Contract Collaboration Sourcing Contract management 130

Spend Matters

OCTOBER 30, 2023

The supplier management solution (SxM) also offers considerable contract management depth due to its historical and unchanged focus on post-contract activities.

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Contract management Contract Suppliers Management 92

RPF360

DECEMBER 29, 2022

Procurement technology includes a range of interesting solutions including contract management, data sources, RFP management systems, spend analytics and more. Explore our favorite procurement technology solutions in this blog. The post The top 23 procurement technology tools for 2023 appeared first on RFP360.

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ProcurePort

MARCH 23, 2021

The post How to Assess Supplier Risk Management in Procurement: An Overview, Report, and Checklist appeared first on ProcurePort Blog. In fact, the right risks, made with calculations and well-founded information, yield some of the best rewards. That being said, there are certain times and places that we want to […].

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Risk management Risk Suppliers Management 182

Procurement Tactics

FEBRUARY 19, 2023

Sourcing suppliers ChatGPT can help procurement professionals to identify potential suppliers by analyzing supplier data. Additionally, it can identify potential suppliers based on their industry, location, or product/service offerings. Here are some ways ChatGPT can help procurement professionals: 1.

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Procurement Market analysis Contract Suppliers 287

ivalua

JULY 11, 2022

New release features AI-powered contract management, more seamless messaging and communications, supplier risk and performance enhancements and procure-to-pay efficiency . AI-powered contract management. On the AI front, Ivalua enhanced its leading CLM solution with AI-Powered Contract Data Capture.

Supply chain resilience 130

Supply chain resilience Collaboration Supply Chain Efficiency supply chain budgeting 130

ivalua

FEBRUARY 10, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.

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Price Strategy Sourcing Real-time Visibility 264

Procurement Insights

MARCH 28, 2024

Both Supplier Discovery and Contract Management surfaced as the lowest-hanging fruit for the fastest win. “The hot topic was where to get started with AI and the importance of finding a quick win.

Data 73

Data Contract management Supply chain management Supply chain management 73