NLPA (Next Level Purchasing Association)

JANUARY 17, 2023

They all include enhancements of: Spend Management. The underpinning of effective spend management is the capacity to formulate and execute an Annual Buying Plan. However, the leverage of other critical skills is required to be successful in today’s business landscape. Supply Chain Agility and Visibility.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Spend management Cost of ownership 52

Skill Dynamics

JULY 19, 2024

Let’s take a look at how you can develop and implement your procurement strategy roadmap from start to finish and address key challenges you may face along the way, as well as save costs and mitigate risk. Don’t forget to consider how you will manage the costs of your strategy – this goes beyond just negotiating the lowest price.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

Jaggaer

DECEMBER 13, 2024

Source-to-Contract breaks down into four main activity areas: Spend management: To optimize, you must measure and monitor. Gartner describes spend management as a set of practices that ensure organizations make procurement and sourcing decisions in the interests of both the bottom line and company efficiency.

Sourcing 52

Sourcing Contract Procurement Chief Procurement Officer 52

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

These KPIs could include total cost of ownership, supplier delivery performance, or on-time in-full rates. Overcoming Challenges for Successful Category Management in Procurement While the benefits of category management are substantial, implementing it can come with its own set of challenges.

Category management 52

Category management Management Procurement Supplier relationship management 52

Empowering CPO

AUGUST 20, 2024

Facilitating Informed Decision-Making Spend analysis dashboards provide real-time insights into an organization’s procurement performance, enabling decision-makers to make informed choices based on data-driven insights.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Spend management Cost of ownership 40

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

Improve spend management by implementing a buying plan Effective spend management is crucial for any organization’s financial health. It involves optimizing procurement processes and reducing costs while maintaining the quality of goods and services.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Procurify

MAY 24, 2022

When it comes to shortcomings in procurement processes, here are some problems you should look out for: Maverick spending (rogue spend). High total cost of ownership (TCO). It can help you reduce costs and aid better relationships with suppliers if done the right way. . Late order delivery.

Procurement strategies 52

Procurement strategies Strategy Procurement Cost of ownership 52

Procurement Software

MARCH 11, 2022

When Procurement teams are seen as an integral part of a business’s value chain, the actions of Procurement can drive tangible added value such as: 1.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

When Procurement teams are seen as an integral part of a business’s value chain, the actions of Procurement can drive tangible added value such as: 1.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Una

OCTOBER 9, 2023

It’s a systematic and collaborative way to identify, evaluate, and optimize the acquisition of goods and services that meet your organization’s objectives while minimizing costs and risks. It considers the total cost over the product or service's entire life cycle, including maintenance, warranties, and potential hidden expenses.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Planergy

SEPTEMBER 8, 2022

This includes things like cost per unit (CPU), the total cost of ownership (TCO), scrap/rework costs, etc. By taking the time to identify and track the right key performance indicators (KPIs), you’ll be in a much better position to manage your suppliers effectively and drive improved performance from them over time.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

Una

JANUARY 8, 2024

The value here isn't just held in the initial cost but in the total cost of ownership, environmental impact, and overall efficiency. Office Furniture Cost-First Crusader You decide to pinch pennies on office furniture. When it's time to retire them, the core materials can be reused, closing the loop on their life-cycle.

supply chain budgeting 52

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

Spend Matters

APRIL 24, 2025

Traditionally, procurement teams focused on Total Cost of Ownership (TCO), aiming to reduce direct expenses related to goods and services. However, a broader perspective Total Value of Ownership (TVO) considers additional benefits such as risk mitigation, supplier innovation and operational efficiency.

Procurement 76

Procurement Procurement team Suppliers Sourcing 76