Procurement Tactics

APRIL 5, 2023

As sustainability is a growing focus in the world, many businesses are integrating it, especially consumers who are demanding to know where the products they purchase come from. As a result, it future-proofs the company’s sustainable purchases and investments by integrating sustainable policies.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

Barkers Procurement

FEBRUARY 20, 2023

It involves taking a long-term view of the organization’s needs and making informed decisions about what to purchase, from whom, and at what cost. In order to make informed purchasing decisions, it is important to have a clear understanding of the organisation’s goals and objectives. Continuous improvement.

Procurement 52

Procurement Cost of ownership Supplier negotiation Quantity 52

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 Templates

SEPTEMBER 14, 2023

LCAs can also reveal hidden costs associated with unsustainable practices. For example, a product with a lower purchase price may have higher long-term operational and disposal costs. By factoring in these hidden costs, organizations can make more cost-effective and sustainable procurement choices.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

ivalua

MARCH 18, 2021

The Strategic Sourcing modules of Ivalua allow Punch Powertrain buyers to define Purchasing needs collaboratively, consolidate the tendering documents and ease costing by suppliers (cost breakdown files, dialogue with the projects on technical feasibility).

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Buyers 130

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

By leveraging data analytics, procurement teams can identify areas for cost savings, such as negotiating better contracts with existing suppliers or consolidating purchases to leverage economies of scale. These KPIs could include total cost of ownership, supplier delivery performance, or on-time in-full rates.

Category management 52

Category management Management Procurement Supplier relationship management 52

Una

JANUARY 30, 2023

Be enablers, not blockers Sometimes, procurement just has to say “no” to a purchase request. For example, you could educate a stakeholder on why Total Cost of Ownership (TCO) matters, or explain the need to balance cost vs risk, or show them how their purchase could be an opportunity to engage with diverse suppliers.

Procurement 98

Procurement Cost of ownership Influencing Purchasing 98

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

MARCH 16, 2023

With plenty of warning, the sourcing team could have taken a more holistic view of value, analyzed vehicle demand, dug into historical spend data, examined total cost of ownership, and moved the conversation beyond cost to align with other company goal such as sustainability or social outcomes.

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

Procurement Tactics

MAY 2, 2023

Environmental benefits Reduction in Energy Consumption Reduction of waste Reduce carbon emissions Improve resource efficiency Limits the negative impacts of purchasing from non-certified sources Restoration of biodiversity Protection of wildlife 2. Here are some of the benefits of sustainable procurement in your business.

Sustainability 204

Sustainability Procurement strategies Negotiation Ethics 204

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 103

Cost of ownership Supply Chain Optimization Procurement Price 103

Procurement Tactics

APRIL 3, 2023

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. Economic Benefits Businesses can increase their profits by adopting a total cost of ownership approach to life-cycle cost.

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Procurement strategies 183

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

Strategically measure purchasing performance Strategic measurement of purchasing performance is critical for any procurement department to succeed. This involves developing key performance indicators (KPIs) to measure performance and using data analytics to analyze purchasing data and identify areas for improvement.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Una

JANUARY 9, 2023

5 steps to take when managing tail spend to avoid making purchases within an organization that go underutilized or unused. The term quickly stuck and came to represent any of our company’s untracked, questionable, and possibly wasteful purchases. So, how many porcelain Dalmatians has your company recently purchased? .

Management 97

Management Spend management Purchasing Procurement team 97

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery. The post A Gameplan for Procurement Transformation appeared first on Next Level Purchasing Association (NLPA).

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. Procurement aims to ensure that the organization is getting the resources it needs to succeed at a cost that maximizes value and minimizes risk.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

IBM Supply Chain Blog

MARCH 27, 2024

To effectively weigh the decision, one must consider the total costs of ownership versus renting—plus a range of other, tangentially related issues. A hyperscale data center should not be considered a one-time purchase. Persons or organizations purchasing items can afford such purchases.

Data 105

Data Purchasing Cost of ownership Quantity 105

Una

FEBRUARY 8, 2023

How to Market Procurement’s Value Beyond Cost Savings How to Use Group Purchasing as a Cost Reduction Strategy What to Do When You Have Limited Buying Power 4. Implement an e-procurement system Implement an e-procurement system to automate the purchase process and reduce the time and cost of manual purchasing.

Procurement 59

Procurement Negotiation Contract Strategic sourcing 59

ivalua

JULY 15, 2015

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 147

NLPA (Next Level Purchasing Association)

JANUARY 17, 2023

Limited visibility can increase the total cost to serve and the total cost of ownership, reduce supply chain performance and increase the loss of value in your supply chain. Purchasing Training Tidbits. The post The Criticality of Procurement Training in 2023 appeared first on Next Level Purchasing Association (NLPA).

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Spend management Cost of ownership 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

Una

OCTOBER 12, 2023

Managing Procurement Risk with a Group Purchasing Organization How GPOs Can Help Improve Procurement Compliance Three Ways to Realign Procurement with Business Objectives Selecting the right approach The best advice is to assess your unique circumstances and objectives to select the most appropriate approach for each sourcing situation.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 52

NLPA (Next Level Purchasing Association)

OCTOBER 17, 2022

Designed to reduce the total cost to serve radically and the total cost of ownership, it is a driver of simplicity and operational cohesiveness. Once challenges have been identified and run through either the PDCA or DMAIC Problem Solving Model, you will realize significant cost reduction and innovation.

supply chain budgeting 52

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

Supply Chain Game Changer

SEPTEMBER 25, 2019

They’re leaving behind more transactional models and becoming more strategic, implementing total cost of ownership Strategic Sourcing models, either centre-led or decentralized. procurement #purchasing #strategydevelopment. Hey Procurement! It’s Time to SELL! The post 10 Steps for Procurement Strategy Development!

Procurement strategies 51

Procurement strategies Strategy Procurement Cost of ownership 51

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

Empowering CPO

MAY 15, 2023

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. The relationship between cost savings and profitability is fairly straightforward.

Procurement 52

Procurement Innovation Quality Cost of ownership 52

Positive Purchasing

JANUARY 13, 2023

Whilst there is still a hefty upfront cost, the cost of ownership for their staff is considerably less than a petrol or diesel vehicle in terms of fuel savings and tax relief benefits. For organizations looking to transition their fleet to electric vehicles however, there are even fewer barriers to adoption. New technology.

Procurement 98

Procurement Cost of ownership Supply Chain Efficiency Demand 98

Supply Chain Game Changer

NOVEMBER 13, 2018

And What is Purchasing? 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. The fundamental objective of any organisation is lowering the cost of goods manufactured. Procurement #SupplyChain #purchasing.

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Barkers Procurement

MAY 11, 2023

Both options create a high cost of ownership, and configuration can be problematic. Automation of purchase orders If you’re searching for P2P software, it’s likely you’re doing so to increase the efficiency of your operation. Here are some of the main ones: In cloud habitation Some organisations build tools internally.

Cost of ownership 52

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

Una

OCTOBER 9, 2023

At the end of this playbook, we’ll also explore how partnering with a group purchasing organization (GPO) can be seamlessly integrated into your strategic sourcing approach, enhancing your ability to drive value and deliver results. 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

Procurement Software

MARCH 11, 2022

Unlike for those who purchase direct materials, it’s much trickier to measure hard savings – i.e. those which are easily visible on the P&L statement – in the indirect space. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile. Great for repeatable purchases.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

Unlike for those who purchase direct materials, it’s much trickier to measure hard savings – i.e. those which are easily visible on the P&L statement – in the indirect space. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile. Great for repeatable purchases.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Jaggaer

APRIL 22, 2019

Purchasing volumes can account for up to 60 percent of revenue for an organization depending on the industry, making it clear that procurement plays a central role in a business’s sustainability effort. 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

Supply Chain Collaborator

FEBRUARY 24, 2017

So, even though it may be delivered in the cloud, the transaction-based pricing model prevents you from capturing the cost savings promised by SaaS delivery in the first place. Your TMS hides total cost of ownership by charging a premium to train new employee/users, carriers, vendors, etc.

Cost of ownership 60

Cost of ownership Bidding Logistics Innovation 60

Sourcing and Supply Chain

JUNE 24, 2021

Business Impact – Total Purchase Cost of the category as % of Total Spend Market Complexity – Positioning of Buyer vs Sellers relative to each other in the marketplace. It is a process for analysing the historical spend (purchasing) data to understand the spending baseline and its evolution over time. Spend analysis.

Category management 52

Category management Management Procurement Market analysis 52

Supply Chain Collaborator

APRIL 7, 2016

Is it even possible to make a well-conceived choice that protects your legacy as visionary leader with a knack for sussing out the solution with the most applicable capabilities with appropriate total costs of ownership? . The answer is absolutely, “YES!” It can be done.

Cost of ownership 61

Cost of ownership Buyers Logistics Change management 61

Planergy

SEPTEMBER 8, 2022

This allows procurement organizations to identify which supplier is not meeting expectations and adjust their purchasing accordingly. Ultimately, supplier scorecards help organizations make better purchasing decisions and ensure they get the best value for their money. Use PLANERGY to manage purchasing and accounts payable.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52