Spend Matters

JANUARY 8, 2024

For several years now, Spend Matters has been collecting and publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market. Index-linked clauses with key suppliers can also be used to ensure fairness and balanced exposure for all parties.

Procurement solutions 72

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 72

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

In today’s dynamic business landscape, category management in procurement has become an essential weapon for procurement teams seeking to optimize spend, strengthen supplier relationships, and drive growth. In this dynamic environment, traditional procurement practices that focus on transactional tasks are no longer enough.

Category management 52

Category management Management Procurement Supplier relationship management 52

Procurement Tactics

MARCH 29, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Pillars of Sustainability — Everything About Sustainability The pillars of sustainability should be embedded into an organization’s strategy to achieve sustainability. However, what are these pillars?

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

Empowering CPO

JULY 16, 2023

Introduction Brief Explanation of Managed Procurement Services In today’s interconnected business world, the seamless acquisition of goods and services is paramount to the smooth operation of any organization. This is where managed procurement services come into the picture.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. Automation increases efficiency and reduces errors, leading to faster and more accurate procurement cycles.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Una

NOVEMBER 1, 2022

For decades, procurement professionals saw as much daylight as the basement-dwelling character Milton Waddams in Office Space. Procurement professionals are abandoning traditional sourcing practices in favor of more responsive strategies to supply chain management in pursuit of more significant cost savings and organizational efficiencies.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Una

OCTOBER 12, 2023

Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement Explore the nuances between offshoring and other approaches to procurement and how each one can impact the bottom line, supply chain resilience and overall strategic objectives.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 52

Empowering CPO

FEBRUARY 11, 2024

Introduction In the ever-evolving landscape of procurement, organizations are turning to strategic sourcing services to navigate the complexities and achieve sustainable success. At EmpoweringCPO, we understand the pivotal role it plays in optimizing the supply chain, reducing costs, and fostering long-term competitiveness.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Empowering CPO

JULY 16, 2023

Introduction Brief Explanation of Managed Procurement Services In today’s interconnected business world, the seamless acquisition of goods and services is paramount to the smooth operation of any organization. This is where managed procurement services come into the picture.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Positive Purchasing

JANUARY 13, 2023

Here he looks at how we will power procurement for the future. Specifically, what we need to know about energy and the future of how the industry and transport will be powered, plus, what procurement needs to be planning for. The impact on procurement is huge. Are we ready for future energy needs? New technology.

Procurement 98

Procurement Cost of ownership Supply Chain Efficiency Demand 98

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

Jaggaer

APRIL 22, 2019

Earth Day (April 22nd) is a celebration of commitment to creating a safer, healthier and cleaner world, making it a natural time to reflect on the power and value of sustainable procurement programs. Procurement at the pivot point. using a total cost of ownership strategy) and identify key risks (and related costs) to avoid.

Sustainability 91

Sustainability Supply Chain Efficiency Procurement supply chain software solutions 91

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

procurement is a critical business function that requires a unique set of skills and expertise. To succeed in this field, procurement professionals must possess a variety of competencies, ranging from negotiation and supplier management to risk assessment and financial analysis.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

SCMDOJO

JULY 29, 2022

The objectives and advantages of Economic Order Qty (EOQ) are to minimize inventory carrying costs and ordering costs while simultaneously limiting the probability of stock out to avoid any lost sales or customer loss. Like safety stock calculations , EOQ is one of the most important equations in supply chain planning.

Quantity 103

Quantity Supply chain management Supply chain management Supply Chain Efficiency 103

Supply Chain Game Changer

NOVEMBER 19, 2018

Check out Procurement Experiences, Trends and the Future! In the book, The Living Supply Chain , the authors argue that, “Speeding up the supply chain is at the root of everything that is good: improved revenue, reduced working capital, higher profitability, and less obsolete inventory.

Supply Chain Efficiency 45

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 45

Empowering CPO

FEBRUARY 1, 2024

Introduction In the ever-evolving landscape of procurement, organizations are realizing that strategic sourcing is not merely a process but a comprehensive approach that can redefine the trajectory of businesses. Our approach encompasses the development and implementation of cutting-edge procurement dashboards and tools.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Sustainability 40

TYA Suite

DECEMBER 16, 2022

You may have seen people use procurement and purchase interchangeably. And it helps the organization to function efficiently. Now, how do you differentiate procurement vs purchase these terms? To differentiate these terms, you need to understand the definition of procurement and purchase these terms.

Purchasing 52

Purchasing Procurement Eprocurement Cost of ownership 52

Supply Chain Game Changer

NOVEMBER 13, 2018

Check out What Exactly Is Procurement? There has been transformation in the Procurement function over the past decade. A Paradigm Shift in the Procurement Function. The Evolution of Procurement’s Value Proposition. Are we witnessing the dawn of a big shift in the way strategic procurement is done? Subscribe Here!

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Procurement Software

MARCH 11, 2022

Like it or not, cost avoidance is a hard sell to most CFOs. Procurement organisations are still primarily measured on cost savings. For anyone working in indirect procurement, this is especially frustrating. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

Like it or not, cost avoidance is a hard sell to most CFOs. Procurement organisations are still primarily measured on cost savings. For anyone working in indirect procurement, this is especially frustrating. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Una

OCTOBER 9, 2023

DOWNLOAD PLAYBOOK Table of Contents Introduction In procurement and supply chain, staying ahead of the game is not just a goal – it’s a necessity. Strategic sourcing takes into account a few key concepts: Total Cost of Ownership TCO shows how strategic sourcing looks beyond the initial purchase price.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

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

NLPA (Next Level Purchasing Association)

OCTOBER 17, 2022

Continuous Improvement and Risk Management Systems have long been essential to realizing supply chain and organizational success. This is especially true at a time when organizations are preoccupied with ensuring reliable supply lines, cost reduction, risk mitigation, business continuity, and so on. . PDCA stands for: .

supply chain budgeting 52

supply chain budgeting Risk Agile and Lean Supply Chain Risk management 52

Sourcing and Supply Chain

JUNE 24, 2021

Procurement is a highly analytical and structured process that is based on the DMAIC – Define, Measure, Analyze, Improve, and Control. There is a constant focus on understanding costs and value, and looking for ways to take cost out of the product.

Category management 52

Category management Management Procurement Market analysis 52

Supply Chain Game Changer

MARCH 6, 2019

Subscribe to Supply Chain Game Changer. 7 KPIs Your Procurement Team May Be Ignoring! Procurement is a business function that has undergone a lot of change in the last few years. As a believer in the power of procurement, this recognition makes me happy. Subscribe Here! Email Address. Responsible Sourcing.

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

Procurement Templates

JUNE 18, 2023

Money buys less than before How should procurement manage inflation? ChatGPT Procurement departments can take several steps to manage inflation effectively. Procurement professionals should consider diversifying their supplier base to have alternative options available.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

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. Introduction A. Some of the key benefits include: 1.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

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 76

Category management Management Supplier relationship management supply chain software solutions 76

World of Procurement blog

APRIL 23, 2024

In an ever-evolving marketplace, businesses are constantly looking for ways to streamline operations, cut costs, and enhance efficiency. One critical area that often comes under scrutiny is the procurement process. Why You Need a Procurement Strategy A well-defined procurement strategy is essential for several reasons.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

World of Procurement blog

APRIL 23, 2024

In an ever-evolving marketplace, businesses are constantly looking for ways to streamline operations, cut costs, and enhance efficiency. One critical area that often comes under scrutiny is the procurement process. Why You Need a Procurement Strategy A well-defined procurement strategy is essential for several reasons.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

ivalua

FEBRUARY 25, 2021

ERP vs. Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? That’s the question we set out to answer in our recent panel discussion with Procurement and Supply Chain experts.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Procurement Tactics

SEPTEMBER 15, 2022

33 Procurement Interview Questions in 2022. However, this kind of purchasing is important, especially in the supply chain. . Once you are done reading this article, you will have a deeper understanding of why companies are adopting sustainability not just in purchasing but also in the supply chain. First Name.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

Planergy

SEPTEMBER 8, 2022

If suppliers feel like you’re constantly criticizing them or looking for ways to reduce costs, they may be less likely to want to do business with you in the future. This allows procurement organizations to identify which supplier is not meeting expectations and adjust their purchasing accordingly. Aim for Continuous Improvement.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

SCMDOJO

APRIL 3, 2022

Procurement specialists can use eAuctions to engage and negotiate with more vendors utilizing an organized approach which thus eliminates any need for cumbersome one-on-one meetings. Throughout a genuine and collaborative cooperation with business vendors, they produce innovative approaches to current procurement difficulties.

Supply Chain Efficiency 138

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 138

Strategic Sourceror

JULY 11, 2022

As noted by Supply Chain Dive, a diversified supplier base ensures that if your supplier runs into issues with one, they can pivot to the other(s) to avoid disruption or delay. What will be your total cost of ownership to partner with another supplier? This helps to more accurately determine your return on investment.

Cost of ownership 57

Cost of ownership Suppliers Supply Chain Efficiency Strategic sourcing 57

The Good Spending

NOVEMBER 5, 2021

Procurement is on the journey from cost-cutting to value delivery Naturally, Procurement started in the lowest cost arena, where the cheapest bid wins. As we evolved from the transactional cost-cutting tool to a more strategic role, we realized that the cost is just an element of the complex equation.

Procurement 52

Procurement Bidding Supply Chain Efficiency Contract 52

Skill Dynamics

OCTOBER 19, 2023

Numerous platforms and needs, on top of a multi-tiered supply chain, have made origin tracing even more challenging. Nonetheless, there is a whole lot more to opimizing procurement processes than just cutting costs and then increasing efficiencies.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 52