Jaggaer

FEBRUARY 5, 2025

Strategic sourcing makes sense for suppliers that are of strategic importance to your organization. With low value strategic suppliers, such as the supplier of a strategically important but low-cost component such as a microchip designed to do one specific job, the focus is on ensuring continuity of supply.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Procurement Software

MAY 18, 2025

LLMs can highlight important clauses and flag potential issues. Consider total cost of ownership. Contract Analysis Reviewing complex contracts becomes less daunting with AI assistance. Upload contract documents and ask specific questions about terms, obligations, or risks. This reduces review time from hours to minutes.

Procurement 52

Procurement Contract Cost of ownership Budget 52

Jaggaer

APRIL 24, 2025

We have to think about how we measure value in the supply chain; according to Loris research, only 29 percent of companies can easily calculate the total cost of the commodities they are buying. Total cost of ownership (TCO) is cross-functional, time-based, often qualitative, and poorly supported by existing systems.

Demand 52

Demand Logistics Real-time Visibility Procurement 52

ivalua

JUNE 5, 2025

1) Procurement optimizes TCO; purchasing focuses on price per unit Procurement looks at total cost of ownership (TCO), including quality, risk, and long-term value. Here’s how procurement strategy vs. purchasing process interact across five critical areas of enterprise operations.

Purchasing 130

Purchasing Risk Procurement e2e 130

TYA Suite

MAY 23, 2025

As businesses face increasing pressure to improve operations, control expenses, and stay ahead of market demands, the need for improved supplier relationships has never been more important. has an important role to play. Here are three key reasons why its so important: 1.

supply chain software solutions 40

supply chain software solutions Collaboration Suppliers Supply Chain Efficiency 40

ivalua

MAY 21, 2025

Before organizations can fully benefit from agility and automation, it’s important to understand the concept of digital procurement. Enterprises typically see ROI through reduced cycle times, increased spend under management, improved compliance, and lower total cost of ownership. What ROI can I expect from digital procurement?

Real-time Visibility 130

Real-time Visibility Procurement Agile and Lean Supply Chain e2e 130

Jaggaer

FEBRUARY 5, 2025

Agility, the ability to take advantage of opportunities and avoid risks, is all-important for strategic sourcing, and must figure in drawing up strategies. Where and how to buy strategically important goods and services in a way that optimizes value while minimizing risk. Tactical Versus Strategic Sourcing. Whats The Difference?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

TYA Suite

JUNE 2, 2025

Strategic purchasing contributes to competitive advantage by reducing the total cost of ownership and improving 2. Its important to document these purchases carefully and review them afterward to prevent future emergencies. While oversight is important, too many steps or unclear roles can turn simple purchases into long delays.

Purchasing 40

Purchasing supply chain budgeting Purchase orders Quantity 40

Supply Chain Game Changer

JULY 15, 2025

Evaluating total cost of ownership beyond the price tag Focusing solely on the upfront cost of industrial equipment can mask the true financial commitment required over its lifetime. Supply chain stability is also very important in the process of equipment selection.

Supply Chain Efficiency 75

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Agile and Lean Supply Chain 75

Planergy

FEBRUARY 24, 2025

Sustainable Procurement Increasingly important in modern education, sustainable procurement prioritizes environmentally friendly and socially responsible purchasing decisions. Prioritize Total Cost of Ownership (TCO) TCO goes far beyond the initial purchase price, considering the entire lifecycle of an asset or service.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Jaggaer

APRIL 9, 2025

Benefits of Implementing MES Manufacturing execution systems track vast amounts of data and provide real-time insights that can increase production efficiency and save costs. IIoT, artificial intelligence and blockchain being some of the most important. Your budget obviously plays a big role in your considerations too.

Supply Chain Efficiency 52

Supply Chain Efficiency Agile and Lean Supply Chain Raw materials supply chain software solutions 52

Skill Dynamics

APRIL 24, 2025

Their collaboration is essential for: Maintaining optimal inventory levels Ensuring supplier reliability Reducing total cost of ownership Responding quickly to disruptions The most effective businesses treat procurement and supply chain as two parts of the same engine. Thats why continuous procurement training is so important.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

Spend Matters

APRIL 24, 2025

For years, procurement success was largely measured in cost savings. While reducing expenses remains important, digital transformation extends procurement’s role far beyond price negotiations. As early as 2005, experts were already emphasizing the importance of a structured approach to procurement technology implementation.

Procurement 77

Procurement Procurement team Suppliers Sourcing 77

Jaggaer

JANUARY 23, 2025

Of course, if European companies with US production facilities rely on imported raw materials or components, they will also be impacted by tariffs. If this prompts them to look to source domestically, they too will need to restructure supply chains, which will likely increase costs.

Export 52

Export Supply Chain Efficiency Raw materials supply chain budgeting 52

Positive Purchasing

APRIL 3, 2025

Therefore, he needs markets to show weakness to grow i.e. for investors to stop buying stocks and move into bonds precisely what happens if you announce widespread import tariffs. Its important to keep in perspective of the bigger, macro driving factors Ive outlined. Determine who can help us (e.g.

Negotiation 52

Negotiation Procurement supply chain budgeting Price 52

Supply Chain Game Changer

JULY 16, 2025

Once you have shortlisted a few options, it’s essential to consider the total cost of ownership, including licensing fees, implementation costs, and ongoing maintenance fees. This highlights the importance of implementing cybersecurity measures and regularly monitoring automated processes for any anomalies.

supply chain software solutions 64

supply chain software solutions Supply Chain Efficiency Cost of ownership Supply Chain Optimization 64

Supply Chain Brain

JUNE 23, 2025

New production methods and economies of scale are driving down fuel costs. While total cost of ownership today typically requires incentives to reach parity with diesel, the gap is narrowing annually. Infrastructure efficiency.

Supply Chain Optimization 91

Supply Chain Optimization supply chain software solutions Supply Chain Efficiency Real-time Visibility 91

Supply Chain Game Changer

AUGUST 30, 2022

Many businesses use some form of Total Cost of Ownership model to support their Procurement and sourcing decisions. What is the current nature of these Total Cost of Ownership models, and what needs to change to make their use more robust and responsive? What is a Total Cost of Ownership Model?

Cost of ownership 105

Cost of ownership Procurement Supply Chain Optimization Price 105

Pipefy

MAY 22, 2024

A brief introduction to total cost of ownership (TCO) Total cost of ownership refers to all of the expenses that are incurred when purchasing, implementing, deploying, maintaining, and using a product, tool, or equipment. This also includes any time costs associated with downtime, training, or other productivity losses.

Cost of ownership 52

Cost of ownership Purchasing supply chain software solutions Supply Chain Optimization 52

ivalua

JULY 15, 2015

Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions. It is important to understand how the strategic priorities of your executive team have been changing over the past decade.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 147

Procurement Tactics

SEPTEMBER 7, 2022

Why is it Important? The total cost of ownership. Life cycle costing. Organizations can also be saved from the economic costs of disruptions in sustainable procurement such as noncompliance with environmental organizations. Cost reduction. Why is it important? Governmental Pillar. Emerging markets.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

SCMDOJO

JULY 3, 2023

The demand for qualified individuals keeps rising as businesses increasingly understand how important procurement is to their overall strategy. When selecting a programme for procurement training, keep the following important criteria in mind: Evaluate Your Current Goals Analyze your individual requirements and goals.

Cost of ownership 98

Cost of ownership Procurement Category management supply chain software solutions 98

Procurement Tactics

MAY 2, 2023

It is best to align this with important internal stakeholders who can help you with practical and technical considerations. Why are the specifications important? Sustainable specifications are important as it helps ensure that your procurement processes are conducted responsibly, ethically, and sustainably.

Sustainability 204

Sustainability Procurement strategies Negotiation Ethics 204

Supply Chain Game Changer

AUGUST 4, 2020

These lessons must inspire actions plans, strategies, investments, and deployable projects to ensure that our Supply Chains are more robust and resilient in the future.

Supply chain 128

Supply chain Cost of ownership Supply Logistics 128

Procurement Tactics

APRIL 5, 2023

Additionally, we will tell you the growing importance of sustainability and the drivers behind why many businesses embrace it. Additionally, you will be able to know how important it is to integrate sustainability into your procurement processes. Sustainability is also an important factor in corporate social responsibility.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Negotiation 187

Procurement Tactics

APRIL 3, 2023

Economic Benefits Businesses can increase their profits by adopting a total cost of ownership approach to life-cycle cost. Collaboration As the world is increasingly facing environmental challenges, it is important for companies to work together to ensure sustainability. Why is sustainability important?

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Raw materials 183

Procurement Tactics

SEPTEMBER 15, 2022

However, this kind of purchasing is important, especially in the supply chain. . We will discuss its importance and the benefits it can bring to your company. The Importance of Sustainability in Purchasing. Use the Total Cost of Ownership (TCO) approach when buying. Editor's note: Hi there! ENROLL NOW.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

Procurement Tactics

SEPTEMBER 21, 2022

Businesses of all sizes need to save money and reduce costs as much as possible. Sustainability in procurement helps reduce the total cost of ownership through the reduction of energy costs, minimized consumption, over-specification, and environmental and social compliance cost. Risk reduction.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Procurement Leaders

FEBRUARY 26, 2024

It would mean that organisations could make progress in shifting corporate thinking so procurement spend is seen as an investment rather than a cost; and that short-term, opportunistic, and savings-driven decisions are consigned to history.

Cost of ownership 130

Cost of ownership Agile and Lean Supply Chain Sustainability Procurement team 130

IBM Supply Chain Blog

AUGUST 11, 2023

CEOs and CFOs are willing to invest in IT services and technology because they understand and appreciate their importance in building a modern business and delivering exceptional products and customer services. IT cost management has grown in importance because cost control is top of mind for every organization across all industries.

Import 74

Import Management Budget Real-time Visibility 74

Supply Chain Collaborator

JANUARY 7, 2020

You have to ask the right questions to get the right answers to the most relevant challenges inherent in selecting a technology (and more importantly a provider/partner). Seeking detailed answers to questions about TMS features, functionality, data security and costs is surely important. What is the total cost of ownership?

Cost of ownership 92

Cost of ownership Supply Chain Efficiency Supply chain Innovation 92

ivalua

OCTOBER 28, 2015

Suppliers have never been more important. Driven by a desire by manufacturers to insulate themselves from spiraling labor costs, manufacturers shifted production of parts and components into the supply chain. This includes total cost of ownership data, detailed supplier profiles, and external business intelligence.

Suppliers 100

Suppliers Cost of ownership Collaboration Price 100

Una

NOVEMBER 1, 2022

Looking beyond cost. Increased cost savings. As mentioned, strategic sourcing considers the total cost of ownership (TCO), which leads to more significant long-term cost savings for your organization. How to Adjust to Evolving Technology Costs. The Importance of Cross-Functional Collaboration.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

MAY 28, 2014

This is an especially important message for manufacturers’ supply chain organizations. The Cloud: Gartner stated that in 2013 cloud adoption rose by 40%, driven by the low total cost of ownership, which reduced both infrastructure and overall maintenance costs.

Supply Chain Optimization 100

Supply Chain Optimization Innovation Supply chain Cost of ownership 100

Strategic Sourceror

JULY 11, 2022

Furthermore, obtaining additional vendors opens up the possibility of other problems frustrating For this reason, it's important to ask the right questions when evaluating whether a vendor is worth investing in an alternative to the one you're using now or as a supplement. Here are a few to ask that can help you make a smart choice.

Suppliers 57

Suppliers Cost of ownership Supply Chain Efficiency Strategic sourcing 57

Procurement Tactics

MARCH 29, 2023

Become a T-Shaped Procurement Professional Download Whitepaper →  Or receive our famous weekly newsletter The Three Pillars of Sustainability As many companies are shifting to sustainability, it is important for them to understand and adopt Environmental, Social, and Governmental (ESG) goals. Be a Sustainable Expert!

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

Spend Matters

JANUARY 8, 2024

There has also been a growing appreciation that, when done intelligently, buying closer to home can not only ensure greater reliability of supply and higher flexibility, but also be more cost-effective in terms of Total Cost of Ownership. Circular supply models and inclusive chains are gaining importance.

Procurement solutions 102

Procurement solutions Procurement Supply Chain Optimization Supply Chain Efficiency 102