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 Purchase Price Variance — Everything You Should Know Purchase price variance is an important factor for budget preparation, but why? Price Purchase Variance: What is it? Why is it Important?

Price 130

Price Purchasing Raw materials Negotiation 130

Spend Matters

JANUARY 7, 2025

But cutting back on these costs never feels quite as urgent as purchases tied directly to revenue. Employees are bypassing approvals Rogue spending occurs when employees make purchases without following established approval chains or proper authorization. This leads to redundant purchases, budget overruns and a lack of accountability.

Procurement 119

Procurement Purchasing Vendor relationships Suppliers 119

Procurement Templates

NOVEMBER 21, 2024

Analyze Total Cost of Ownership (TCO): Incorporate factors like lifecycle costs, maintenance, and disposal into purchasing decisions. Legal and Compliance Knowledge Actionable Steps: Learn Contract Law Basics: Understand key contract clauses like force majeure, indemnity, and termination rights. Coursera, Udemy).

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Procurement Express

MARCH 9, 2025

If your company relies on vendors, an efficient purchase order (PO) system is essential for keeping cash flow predictable and preventing budget surprises. Fortunately, QuickBooks Online gives you a simple way to manage purchase orders, streamline approvals, and keep vendor relationships smooth. What is a purchase order?

Purchase orders 52

Purchase orders Purchasing Real-time Visibility Vendor relationships 52

ivalua

DECEMBER 7, 2022

Ivalua, a global leader in spend management , today announced that bol.com, the largest online retailer in the Netherlands and Belgium, has selected Ivalua’s solution to digitalize its indirect Source-to-Contract (S2C) processes. The project has been delivered in partnership with Accenture. Learn more at www.ivalua.com. Follow us at @Ivalua.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Contract Sourcing 130

Procurement Insights

FEBRUARY 18, 2025

EDITOR’S NOTE: I have recently completed a preliminary analysis of Packaging & Container Companies’ challenges to enable greater supplier collaboration and automation around the purchase order process, including PO confirmations, shipment notices, and price/quantity changes.

Purchase orders 52

Purchase orders Collaboration Purchasing Suppliers 52

Procurement Insights

FEBRUARY 21, 2025

Example of a Metaprise in ProcureTech: A large enterprise connects multiple ERP systems, supplier networks, contract management tools, and risk assessment platforms into one AI-driven ecosystem that autonomously negotiates, optimizes spend, and ensures compliance. sourcing, supplier onboarding, contract approvals).

Supply Chain Optimization 75

Supply Chain Optimization Contract management Networking Contract 75

TYA Suite

MAY 3, 2025

Back then, businesses relied on paper purchase ordersphysical forms filled out by hand, signed, mailed, or faxed to suppliers. Today, digital purchase order are part of a larger trend toward automation, integrating with accounting software, inventory systems, and analytics tools to create smarter, more efficient supply chains.

Purchase orders 40

Purchase orders Purchasing Supply Chain Efficiency supply chain budgeting 40

Spend Matters

FEBRUARY 4, 2025

First, know when its time for a new process: There are several key indicators that a procurement process needs to be updated, like a spike in rogue spending, overlapping vendors, missed contract renewals, and a lack of visibility into employee requests.

Procurement 106

Procurement Purchasing Negotiation Buying process 106

Procurement Tactics

SEPTEMBER 8, 2022

Some referred to it as MRO purchasing which pertains to maintenance, repair, and operations due to its significance to keep the business running. . You may think that this is the same as tactical purchasing. However, it is not true due to the fact that tactical purchasing is focused on short-term transactional activity.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

TYA Suite

APRIL 13, 2025

Every business, big or small, relies on purchasing goods and services to keep operations running smoothly. But without a clear system to manage these purchases, things can quickly spiral into A mess delays, overspending, or even errors. What is a Purchase Order Approval Workflow? unauthorized vendors or overspending). :

Purchase orders 40

Purchase orders Purchasing Real-time Visibility Budget 40

Spend Matters

APRIL 23, 2025

The event included several new product announcements as well as company updates following Docusigns major announcement at last years event, the advent of a new contract management category called Intelligent Agreement Management (IAM) designed for wider organizational appeal beyond just procurement and legal departments.

Contract 73

Contract Contract management Collaboration Management 73

TYA Suite

APRIL 13, 2025

When your business is small, using spreadsheets or sticky notes to track purchases might seem easy. It saves time, reduces mistakes, and gives you a clear view of all purchases, helping you make better decisions. Once approved, the business selects a trusted supplier, negotiates terms, and sends a purchase order.

Purchasing 40

Purchasing supply chain budgeting Supply Chain Efficiency Real-time Visibility 40

Procurement Tactics

MARCH 16, 2023

It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. It can also help you with contract management and compliance processes.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Procurement Tactics

APRIL 17, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Sustainable Government Procurement — Shifting to Sustainability Sustainable government procurement is the commitment of the government to achieve sustainability in its purchases. However, what is it?

Sustainability 201

Sustainability Procurement Negotiation Bidding 201

Spend Matters

APRIL 24, 2025

Spendflos State of SaaS Procurement 2025 report analyzed tens of thousands of SaaS contracts and surveyed finance and procurement leaders across the US and UK to understand how SaaS is being bought and used by organizations. CFOs are increasingly demanding proof of ROI before approving renewals or new purchases. It gets worse.

Procurement team 76

Procurement team Contract Negotiation Budget 76

Spend Matters

FEBRUARY 13, 2025

For the third piece of tech, a contract management system, the Legal Department was a strong ally. It has completely changed our end-to-end enterprise contracting process. The team launched many new sourcing opportunities and engaged with stakeholders in different ways resulting in other positive impacts for the company.

Influencing 105

Influencing Procurement supply chain budgeting e2e 105

Spend Matters

MARCH 25, 2025

Procurement features and capabilities Standardized contract templates that can be reused across multiple transactions. Purchase order management, allowing users to assign, update and track POs for AWS Marketplace transactions. Flexible pricing models, including pay-as-you-go, subscription-based and custom enterprise agreements.

Procurement solutions 98

Procurement solutions Procurement Purchase orders Data 98

Procurement Tactics

FEBRUARY 19, 2023

Contract management ChatGPT can provide assistance to procurement professionals by assisting them in managing their contracts by providing information on the contract terms and conditions. It can also assist you in handling disputes with suppliers and answer your questions about contract renewals.

Procurement 287

Procurement Market analysis Contract Suppliers 287

Procurement Tactics

OCTOBER 18, 2022

You cannot get favorable contract terms for the goods and services you want to acquire if you do not have an amicable working relationship with your suppliers. . Having SRM software allows you to develop stronger supplier relationships and negotiate better contract terms with your suppliers. . Want to become a Negotiation Game Changer?

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

Pipefy

APRIL 22, 2025

Automation within the source-to-pay (S2P) cycle from sourcing to payment is redefining how businesses handle suppliers, contracts, quotes, and payments. In simple terms, it spans the entire process from identifying a purchasing need to final payment. S2P identifies the purchasing need up to the payment to the supplier.

Sourcing 59

Sourcing Real-time Visibility Procurement e2e 59

Procurement Tactics

MARCH 26, 2023

Open tendering, also known as competitive bidding, is a process aimed to purchase goods or services at the lowest possible price. His/Her team solicits quotations from potential suppliers to award the contract for specified services or goods. Once evaluated, the organization will award the contract to the winning bidder.

Bidding 197

Bidding Suppliers Competitive bidding Price 197

ivalua

FEBRUARY 10, 2023

Inflationary pressures can cause frustration levels among suppliers due to increased costs or reduced demand from customers, particularly when it comes to repeated orders or fixed pricing contracts. This could include negotiating more favorable terms with suppliers or renegotiating existing contracts to ensure that prices remain competitive.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Spend Matters

FEBRUARY 26, 2025

During one breakout session, Gideon Davis (Administrator, Nevada State Purchasing Division of the Department of Administration), Anna Shpigel (Deputy Assistant Secretary, Massachusetts), and Rose Svitak (Manager, MMCAPs Knowledge and Financial Management Team) talked about the importance of aligning procurement and finance.

Procurement 119

Procurement Bidding Contract management Data 119

Procurement Tactics

JUNE 28, 2023

Purchase Orders Purchase orders are where the monitoring of the creation and approval of purchase orders comes in. Delivery and Logistics The status of goods and services purchased, such as their delivery timelines, transportation times, or receipt is monitored. The key elements are typically: 1.

Supply Chain Efficiency 178

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

ivalua

SEPTEMBER 13, 2020

For organizations, this means employees can easily and quickly buy all the goods and services need from preferred contracts, ensures they stay within budget and work with required approvals. Supplier, contract, legal tax and policy compliance. Pain-Point: Purchasing compliance and collaboration.

e2e 204

e2e Procurement Budget Contract 204

Spend Matters

MAY 14, 2025

It is about running an RFx or finding new suppliers in response to a trigger, like a contract expiry, a supply issue or a cost-cutting initiative. In addition to Cirtuo, Spend Matters has also reviewed akirolabs and Positive Purchasing’s Capella. Strategic sourcing, by contrast, is more tactical.

Category management 95

Category management Spend management Management Sourcing 95

Spend Matters

DECEMBER 17, 2024

On the procurement side, the interest is in the Purchase Request coding for accounting and spend categorization. The main drivers of the ROI analysis are Spend Compliance (user and supplier compliance for value realization), Process Improvement, Price Reduction and Cash Management.

Procurement 109

Procurement Change management Strategic sourcing Strategic sourcing 109

Procurement Software

MARCH 16, 2025

This makes it easier to track spending patterns, supplier performance, ESG data, and contract compliance. Dealing with all of these contracts, sourcing events and purchase requests simultaneously, without a digital solution, results in email overload. As a result of better data, procurement teams gain a whole range of benefits.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

Spend Matters

MARCH 19, 2025

They are: BEST-OF-BREED Category Top Tech Score Customer Favorite Score AP Automation/I2P Tipalti Tipalti Contract Management Sirion Evisort Carbon Management SupplHi SupplHi eProcurement Promena Promena Sourcing Arkestro DeepStream Spend Analytics Sievo Ignite Procurement Supplier Management SupplHi SupplHi Intake & Orchestration Zip Pivot SUITES (..)

Eprocurement 85

Eprocurement Contract management Contract Sourcing 85

SCMDOJO

MARCH 14, 2025

It emphasizes the need for fair competition among suppliers and aims to eliminate corrupt practices that have historically plagued government contracts. Additionally, this shift is indicative of a broader trend towards responsible purchasing, aligning government contracts with societal values and aspirations.

Procurement 82

Procurement Bidding Competitive bidding Contract 82

Procurement Tactics

JANUARY 4, 2023

Starting work with a new vendor or renewing a contract with an existing one requires a lot of work for your firm’s legal department. You need to draft the contract, negotiate the terms and conditions, ensure you and the vendor have done your due diligence, and much more. . Proper Signing of the Contracts with Vendors.

Procurement 195

Procurement Contract Negotiation Quality 195

ivalua

MARCH 16, 2020

Körber’s purchasing and supply chain management organisation is responsible for all procurement processes. The project to implement the cloud-based platform is led by OptiBuy, a consulting company specialising in procurement management and the implementation of IT solutions.

Agile and Lean Supply Chain 49

Agile and Lean Supply Chain Procurement Supply Chain Efficiency Chief Procurement Officer 49

SCMDOJO

DECEMBER 29, 2024

Key takeaways Importance of Procurement Procurement vs. Purchasing Key Functions Departmental Structure Role Descriptions The blog emphasizes the significance of a well-structured procurement department with qualified personnel to achieve organizational objectives. Read In Detail About Procurement Department Here 2.

Supply Chain Efficiency 93

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 93

Pipefy

MAY 8, 2025

But when it’s disorganizedeverything stalls: emergency purchases, lack of supplies, unhappy suppliers, rework, and of course, wasted money. It helps standardize processes, automate approvals, and enforce smart rules (such as requiring two approvers for purchases over $1,000). AI agents can be introduced even at this early stage.

Procurement 59

Procurement Purchasing Procurement team Purchase orders 59

Procurement Templates

FEBRUARY 19, 2024

Catering Tender When responsible for the Catering Contract- what do you need to know? Cost Plus Contract- the client pays for all the operating cost such as food, labour and sundries. Fixed price contract- An annual cost of catering is agreed between parties at the commencement of the contract. All operating cost.

Contract 130

Contract Purchasing Price Suppliers 130

Spend Matters

MAY 8, 2025

A phased approach is essential, beginning with foundational improvements, such as automating purchase orders or streamlining contract management, before advancing to more complex AI-driven capabilities. Another common pitfall is trying to do too much with one implementation.

Procurement 63

Procurement Cost of ownership Stakeholder engagement Contract 63