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Procurement Strategy: Optimizing Your Path to Success

NLPA (Next Level Purchasing Association)

Case Studies in Action Walmart’s Transformation : Walmart leveraged its procurement strategy for cost savings and supply chain efficiency. Johnson & Johnson’s Innovation Focus : Johnson & Johnson used technology and strong contract management in their procurement strategy.

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Beginner’s Guide to Managing Spend

NLPA (Next Level Purchasing Association)

Supplier Relationships: Managing spend involves evaluating, selecting, and nurturing relationships with suppliers. Cultivating strong supplier partnerships enhances collaboration, fosters innovation, and ensures a reliable supply chain.

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How will Generative AI in Procurement impact us?

Procurement Software

It will take time before we have dedicated generative AI-driven procurement software. Generative AI’s current impact in procurement is best illustrated by tech-savvy procurement category managers leveraging apps like ChatGPT and Bard to streamline the execution of routine tasks. Let’s look at each one separately.

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Top Competencies of Procurement Professionals

NLPA (Next Level Purchasing Association)

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. These competencies are essential for ensuring that organizations can secure the goods and services they need at the best possible value.

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Managing Outsourcing Risk: A New Framework for Banking and Beyond

Jaggaer

The EBA guidelines provide a solid framework with key steps companies must take to protect their business from risk and to ensure the supply chain sustainability. . How Integrated Procurement Software Solutions Can Help Banks Get Compliant . Download it here now. About the Author.

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SUSTAINABLE PROCUREMENT FOR COMPLIANT, FUTURE-READY ENTERPRISES

Zycus Cognitive Procurement

Responsible Contract Management: . Avoiding contract renewals with suppliers who do not meet the required health and safety criteria. Foolproof Supplier Information Management: . Zycus is committed to building simple, intuitive, cost-effective, and highly scalable source-to-pay solutions for the future-ready enterprise.