Procurement Tactics

APRIL 3, 2023

Procurement Strategy Course Take the lead with our proven 5-step procurement strategy 3. Other environmental benefits include: Reduction in Energy Consumption Limits the negative impacts of purchasing from non-certified sources Restoration of biodiversity Protection of wildlife 2.

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Procurement strategies 183

Empowering CPO

FEBRUARY 11, 2024

Our strategic sourcing outsourcing emphasize the importance of developing strong ties with suppliers, creating a win-win scenario that goes beyond short-term cost savings. The concept of Total Cost of Ownership (TCO) considers not only the purchase price but also factors in operational, maintenance, and end-of-life costs.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Procurement Tactics

SEPTEMBER 7, 2022

Thus, their concern about how their purchasing affects the environment is increasing. Although the trend in procurement is to find sustainable and renewable resources, innovation will have a big part in achieving sustainability goals. . My name is Marijn Overvest, I'm the founder of Procurement Tactics. Life cycle costing.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Una

NOVEMBER 1, 2022

These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. And, like Milton, management assumed procurement people were happily left alone in dank office spaces, content having their red staplers by their side. Looking beyond cost. Increased cost savings.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Skill Dynamics

MARCH 12, 2024

Making informed decisions, supporting profitability objectives, and aligning with strategic priorities are all positive impacts of cost optimization tools. Considering TCO goes beyond simply evaluating the initial purchase price. This includes maintenance, operation, support, and disposal costs.

Cost optimization 69

Cost optimization Cost of ownership Procurement Strategy 69

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery. This cross-functional engagement ensures alignment of objectives, reduces silos, enhances communication, and leads to more effective procurement strategies that support the organization’s overall goals.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Una

OCTOBER 12, 2023

Avoiding a one-size-fits-all approach, it aims to identify the “right” location or mix of locations for sourcing based on factors like cost, quality, lead times, and risk mitigation. Rightshoring considers the specific needs and goals of the organization to create a tailored procurement strategy.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 52

Empowering CPO

MAY 15, 2023

At its core, procurement is about acquiring the goods and services a company needs to fulfill its business model. It’s the art of sourcing, negotiating, and purchasing, all while maintaining a keen eye on quality and cost. But in recent times, this function has evolved far beyond the simple act of purchasing.

Procurement 52

Procurement Innovation Quality Real-time Visibility 52

Una

MARCH 16, 2023

If the procurement team in this example had more influence, the logistics manager wouldn’t have dreamed of making this sort of decision without first engaging them. Why do so many companies lack procurement influence? Ignorance of what procurement can do and the value it can bring.

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Una

JANUARY 8, 2024

Boosting Business Growth With the Help of a Group Purchasing Organization A playbook for boosting business growth, moving beyond the outdated perceptions of procurement, and turning it into one of your organization’s most important sources of value. What if procurement wasn’t just about cutting costs and securing deals?

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Agile and Lean Supply Chain Purchasing 52

Procurement Tactics

SEPTEMBER 15, 2022

Sustainable Purchasing — The Ultimate Guide. Sustainable purchasing might be a term that many people are not familiar with. However, this kind of purchasing is important, especially in the supply chain. . In this article, we will talk about what sustainable purchasing is. What is Sustainable Purchasing?

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

Una

OCTOBER 9, 2023

Together, we’ll walk through the ins and outs of strategic sourcing, simplify its concepts, and arm you with the tools and knowledge you need to elevate your procurement strategy to the next level. In particular, they’ve zeroed in on the cost-cutting of their organization’s day-to-day transactions.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Barkers Procurement

MAY 11, 2023

Consider the bigger picture P2P is part of the wider procurement strategy, and your software should be as well. Both options create a high cost of ownership, and configuration can be problematic. Automation is the way forward, and a piece of software that automates processes will lend your procurement a big boost.

Cost of ownership 52

Cost of ownership Real-time Visibility Purchase orders Procurement strategies 52

Procurement Tactics

MARCH 29, 2023

As many governments and people around the world are being aware of how their purchasing behavior can affect the planet, many have demanded companies of every size embrace sustainability within their operations. Without any changes in how the planet is run, then it will suffer irreparable damage that all of us will incur.

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

Supply Chain Game Changer

NOVEMBER 13, 2018

Check out What Exactly Is Procurement? And What is Purchasing? There has been transformation in the Procurement function over the past decade. From the starting point of the traditional buy-sell, transaction-based purchasing, the practice has moved through stages of change that redefines most aspect of the business.

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

World of Procurement blog

APRIL 23, 2024

One critical area that often comes under scrutiny is the procurement process. Procurement isn't just about purchasing goods and services; it's a strategic function that if executed well, can significantly contribute to a company's competitive advantage.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

World of Procurement blog

APRIL 23, 2024

One critical area that often comes under scrutiny is the procurement process. Procurement isn't just about purchasing goods and services; it's a strategic function that if executed well, can significantly contribute to a company's competitive advantage.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Empowering CPO

JULY 16, 2023

Procurement extends beyond simple purchasing to include activities such as sourcing, negotiation, contract management, and supplier relationships. Managed procurement, on the other hand, adopts a proactive, strategic, and holistic approach to procurement.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Empowering CPO

JULY 16, 2023

Procurement extends beyond simple purchasing to include activities such as sourcing, negotiation, contracts management, and supplier relationships. Managed procurement, on the other hand, adopts a proactive, strategic, and holistic approach to procurement.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Empowering CPO

MAY 4, 2023

Importance of procurement in modern businesses In today’s fast-paced and competitive business landscape, procurement plays a crucial role in driving efficiency, cost savings, and overall success. Develop a Comprehensive Procurement Strategy A. Some of the key benefits include: 1.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Supply Chain Game Changer

MARCH 6, 2019

But, when my mom was buying a new vehicle, she didn’t decide to scrap the vehicle from 1993 and purchase one from 1995. Here are 7 Trending Business Practices disrupting Traditional Procurement ! Sourcing has become an increasing business critical element of an overall procurement strategy. Say I purchase a car.

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

Jaggaer

JULY 25, 2019

The vast majority of organizations, even if they talk about “source to pay” or “purchase to pay” as though these were seamless process steps, store data from each step in a separate repository. In our survey report, we set out a roadmap for implementing a digital transformation strategy. by scanning paper invoices).

Data 45

Data Procurement Budget Cost of ownership 45

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. However, high or unpredictable inflation can create economic instability and erode people’s purchasing power, leading to decreased consumer confidence and investment.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.

Category management 77

Category management Management Supplier relationship management supply chain software solutions 77

Una

SEPTEMBER 22, 2022

A guide to IT procurement for navigating the complex IT sourcing process in a way that drives organizational efficiencies and improves your bottom line. Comprehensive Guide to IT Procurement. Procurement embodies purchasing across a wide range of categories. IT Procurement Best Practices. Focus on data.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Claritum

OCTOBER 21, 2019

To help guide your search, we’ve compiled important considerations and questions, relating specifically to addressing automation of Indirect Procurement. Indirect spend can be complex for an organisation to manage, because it covers many categories of spend and many purchases are unique in nature. What reports are available?

Eprocurement 32

Eprocurement Suppliers Data Procurement 32

Una

SEPTEMBER 21, 2023

Volume discounts One common way to achieve cost savings is by leveraging the purchasing power of the organization. Buying in bulk or consolidating purchases across departments can often lead to volume discounts, reducing the cost per unit. Cost avoidance is more focused on minimizing risks and potential future costs.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52

Supply Chain Game Changer

NOVEMBER 23, 2018

Check out What Exactly Is Procurement? And What is Purchasing? In any company or industry that sells products the cost of the raw materials and components is often the single largest expense. In some cases there is a great level of planning applied before a single purchase order is placed. Subscribe Here!

Category management 61

Category management Strategy Raw materials Management 61

Skill Dynamics

OCTOBER 19, 2023

The Essentials of Procurement Optimization Taken at its most basic level, procurement optimization is simply the strategic process of improving every aspect of procurement operations. This involves aligning procurement strategies with the overall business objectives such as innovation, sustainability, and resilience.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 52

The Good Spending

NOVEMBER 5, 2021

TLC analysis requires a deep understanding of supply chain costs - customs, duties, tariffs, and 3PL services. Total Cost of Ownership (TCO) TCO considers all costs associated with acquiring, operating, and maintaining evaluating bids. However, it still neglects revenue, risk, or social objectives.

Procurement 52

Procurement Bidding Supply Chain Efficiency Contract 52

Empowering CPO

JUNE 27, 2023

The same holds true for procurement professionals striving to navigate the complexities of expenditure management without proper spend analysis. By analyzing and scrutinizing your spending patterns, you gain valuable insights that can revolutionize your procurement strategies.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

Supply Chain Game Changer

MARCH 24, 2020

For far too long Supply Chain has been considered a back office, transactional functions placing purchasing orders and moving and receiving goods. Taking Total Cost of Ownership Seriously. What are the Supply Chain lessons we must learn from? Supply Chain Lessons. The Importance of Supply Chain Talent.

Agile and Lean Supply Chain 82

Agile and Lean Supply Chain Supply chain Supply Cost of ownership 82