SCMDOJO

MARCH 14, 2025

Financial Evaluation For the bids that qualified the technical evaluation, proceed with the financial evaluation and process the submissions as per the evaluation criteria Key Activities: Price Analysis Compare total costs, unit rates, taxes, warranties, and payment terms. lowest price = highest score) to rank commercial offers.

Bidding

Procurement Software

JULY 6, 2025

Even in direct materials procurement, it’s challenging to get recognition for crucial work like deferring commodity price increases or offsetting inflation to maintain current price levels. With indirect spend, we’re often dealing with one-time purchases with no previous price history.

Procurement

Jaggaer

FEBRUARY 5, 2025

When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price. Since reverse auctions focus heavily on price competitiveness, this can be easily done with sourcing software tools.

Strategic sourcing

Spend Matters

MAY 8, 2025

What is the full cost assessment over time? Cost considerations should extend beyond initial pricing to include total cost of ownership. Many organizations overlook hidden costs, such as implementation fees, maintenance and integration expenses.

Procurement

Jaggaer

FEBRUARY 5, 2025

The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Your focus here is to get security of service at a good price. Traditional sourcing focuses on high volumes and bulk buying to secure discounts.

Strategic sourcing

Jaggaer

APRIL 24, 2025

But with wild fluctuations in prices, currency conversion rates, lead times and so on, IT systems have had difficulty coping in recent years. Food manufacturers need to look at signals such as the price of commodities and patterns of consumer demand to plan their buying based on outside-in bidirectional orchestration.

Demand

TYA Suite

MAY 13, 2025

This is why procurement cost reduction is not just an option; its a necessity. By reducing procurement costs, businesses can increase profit margins without raising prices or cutting corners. When you spend less on purchasing, your profit increaseswithout needing to raise prices. Bulk buying is another strategy.

Strategy

Jaggaer

FEBRUARY 5, 2025

It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Nishiguchi set out eight steps in strategic sourcing: Assessment of a companys current spending (what is bought, where, at what prices?)

Strategic sourcing

Arkestro

NOVEMBER 12, 2024

Today’s procurement challenges go far beyond cost negotiations and sourcing. Businesses must now navigate sustainability, risk management, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets. However, this convenience comes with a downside.

Procurement

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. While initial pricing often draws the most attention, long-term value is determined by factors extending well beyond the purchase phase.

Supply Chain Efficiency

Procurement Software

MAY 18, 2025

Cloud-based options often offer pay-as-you-grow pricing models. Consider total cost of ownership. They create streamlined workflows from requisition to payment. User-friendly interfaces require minimal training. Automation eliminates manual data entry and reduces errors. This makes them accessible even with limited budgets.

Procurement

TYA Suite

JUNE 2, 2025

But purchasing is more than just placing orders, it's a structured process that ensures the right items are bought, from the right sources, at the right price, and at the right time. It follows defined steps to reduce waste, control costs, avoid delays, and ensure quality.

Purchasing

Planergy

FEBRUARY 24, 2025

Market Research Comprehensive market research helps institutions identify potential suppliers, compare pricing, evaluate product quality, and understand emerging technologies and solutions relevant to educational contexts. Think about how major retail giants can afford to keep their pricing low – bulk buying power.

Procurement

TYA Suite

MAY 23, 2025

The price of supplier collaboration software can vary depending on the features, scalability, and level of support provided. It's essential to evaluate the total cost of ownership, including any setup fees, subscription costs, and potential costs for additional users or features.

supply chain software solutions

SCMDOJO

APRIL 11, 2025

Control Costs: Track value beyond just the purchase price and manage inventory effectively. Struggling with the true cost of ownership or serving your customers? A lower TCO indicates better value sourcing, even if the initial purchase price isn’t the absolute lowest. Our course breaks down TCO/TCS.

Supply Chain KPIs

Planergy

MAY 8, 2025

3] Predictive analytics helps teams anticipate shifts in raw material pricing, labor availability, or regulatory changes. These strategies help reduce the total cost of ownership while building long-term supplier relationships.[1] 1] Spend visibility platforms identify previously overlooked savings opportunities.

Strategy

Jaggaer

APRIL 9, 2025

But investigate the total cost of ownership (TCO) rather than price alone consider licensing, implementation, maintenance, and training costs. Bear in mind that different vendors have different pricing models, which are not so easy to compare. Your budget obviously plays a big role in your considerations too.

Supply Chain Efficiency

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.

Supply chain management

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. Traditionally, procurement teams focused on Total Cost of Ownership (TCO), aiming to reduce direct expenses related to goods and services.

Procurement

Procurement Insights

MARCH 17, 2025

Core Offering : Tracks commodity prices, production costs, and market trends to arm procurement teams with data for better supplier negotiations. Ideal for complex, high-stakes negotiations where game theory can model supplier behavior and optimize total cost of ownership. large enterprises, strategic sourcing).

Negotiation

Jaggaer

JANUARY 23, 2025

Possible impacts on US supply chain and procurement If tariffs are indeed imposed, this means higher costs for US manufacturers, which will incentivize them to look for domestic suppliers of raw materials, components, and investment goods such as machine tools.

Export

Positive Purchasing

APRIL 3, 2025

Let battle commence negotiate price hikes down. Consider: What are the areas of supply that we can switch onshore or otherwise to avoid tariff impact easily, where there is market capacity and we can secure comparable, or minimal additional total cost of ownership? There are four steps to take: Map the biggest impacts.

Negotiation

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

ivalua

MARCH 18, 2021

Ultimately, the buyer can efficiently compare offers and select the optimal supplier(s) according to a best value/best price logic or lower total cost of ownership. This greatly increases the company’s agility, allowing highly efficient purchasing operations.

Strategic sourcing

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

SCMDOJO

SEPTEMBER 19, 2024

I worried whether I could successfully convey the message that even with the great prices, the total cost for the parts would be more than what it would cost to source locally or regionally. Separating these two costs fosters quicker analysis and buy-in. This led me to create the model described below.

Price

Procurement Tactics

SEPTEMBER 7, 2022

Sustainable procurement refers to the adoption of environmental, social, and governmental (ESG) factors together with the usual price and quality considerations by the organization. . The total cost of ownership. Life cycle costing. Now that we already had a recap, Let us now go to sustainable procurement. Revenue growth.

Sustainability

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

Empowering CPO

FEBRUARY 20, 2023

As is true the objective of every strategic sourcing project is to reduce the total cost of ownership. In keeping the above points in perspective it is very essential that the vendor pricing evaluation methodology should be very robust. Components should be normalized so as to have meaningful comparisons.

Price

ivalua

MARCH 18, 2021

Ultimately, the buyer can efficiently compare offers and select the optimal supplier(s) according to a best value/best price logic or lower total cost of ownership. This greatly increases the company’s agility, allowing highly efficient purchasing operations.

Strategic sourcing

Una

NOVEMBER 1, 2022

Investing in procurement technology , team training, and supplier relationship management will have greater rewards than short-term selections based on the lowest price or aggressive supplier negotiations. TCO takes into account the long-term costs and expenses incurred during a product’s useful life and eventual disposal.

Strategic sourcing

Spend Matters

JANUARY 8, 2024

Rapid value delivery As inflation begins to cool, the challenge for businesses in 2024 and beyond will be to systematically capture this release of prices in most areas. As businesses seek greater control over risk, sustainability, availability and costs, some businesses are contemplating full backward integration in the value chain.

Procurement solutions

Procurement Templates

JUNE 18, 2023

ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. When consumers have more money to spend, they compete for limited goods, driving prices up. What is inflation?

Procurement

ivalua

OCTOBER 28, 2015

Driven by a desire by manufacturers to insulate themselves from spiraling labor costs, manufacturers shifted production of parts and components into the supply chain. It shouldn’t be about beating up a supplier on price or strong arming suppliers. Your suppliers can be a competitive advantage or a burden that keeps you from growing.

Suppliers

SCMDOJO

APRIL 3, 2022

They are far more convenient than conventional discussions and negotiations, providing procedural integrity and transparency while also lowering final prices owing to enhanced supplier competitiveness. General Cost Reductions: Maybe it is just one of the advantages of eAuctions, but it is still significant!

Supply Chain Efficiency

Procurement Tactics

APRIL 5, 2023

Risk management Refusing to adopt sustainability has its own consequences and can severely affect the brand value, reputation, market capitalization, market share, legal exposures, price fluctuations, access to supply, ethical exposures, financial liabilities, and the risks associated with operating licenses.

Sustainability

Procurement Templates

SEPTEMBER 14, 2023

Procurement, traditionally seen as a function focused on sourcing goods and services at the best possible prices, has now evolved into a strategic driver for sustainability. LCAs can also reveal hidden costs associated with unsustainable practices.

Sustainability