ivalua

OCTOBER 28, 2015

Suppliers have never been more important. Driven by a desire by manufacturers to insulate themselves from spiraling labor costs, manufacturers shifted production of parts and components into the supply chain. Your suppliers can be a competitive advantage or a burden that keeps you from growing. Create a specific data map.

Suppliers 100

Suppliers Cost of ownership Collaboration Innovation 100

Empowering CPO

FEBRUARY 11, 2024

Consulting firms like ours leverage cutting-edge tools and analytics to gain deep insights into market trends, supplier performance, and cost structures. By harnessing the power of data, organizations can identify opportunities for cost optimization, risk mitigation, and process efficiency.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Procurement Tactics

SEPTEMBER 21, 2022

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 is linked with all the suppliers of an organization it chooses to partner with. Risk reduction. Revenue growth.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Planergy

SEPTEMBER 8, 2022

How AP can improve relationships with your key suppliers. Supplier Performance Management: How and What To Measure. Best Practices & Tips Supplier Performance Supplier Relationship Management. Best Practices & Tips Supplier Performance Supplier Relationship Management. Download Free Copy. Written by.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

Spend Matters

JANUARY 8, 2024

Index-linked clauses with key suppliers can also be used to ensure fairness and balanced exposure for all parties. As businesses seek greater control over risk, sustainability, availability and costs, some businesses are contemplating full backward integration in the value chain.

Procurement solutions 73

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 73

Skill Dynamics

MARCH 12, 2024

Exploring Strategic Cost Management in Our Future Skills Course Skill Dynamics recognizes the critical role of strategic cost management and is committed to empowering professionals with the necessary skills and insights through our Future Skills course.

Cost optimization 69

Cost optimization Cost of ownership Procurement Strategy 69

Empowering CPO

FEBRUARY 20, 2023

Factors affecting the success of a Lotting Strategy When the stakes are high for both buyers and suppliers the Lotting Strategy plays a very critical role in ensuring success and eventually higher savings. Thus depending on their capabilities they may quote aggressively or decide not to quote at all.

Strategy 52

Strategy Cost of ownership Strategic sourcing Strategic sourcing 52

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. Strengthen Supplier Relationships: Traditionally, supplier relationships have often been transactional.

Category management 52

Category management Management Procurement Supplier relationship management 52

ivalua

MARCH 18, 2021

The Belgium-based automotive supplier, specialising in sustainable and affordable propulsion system solutions, deployed Ivalua’s platform in September 2020 for the sourcing of components for the DT2 program, within the company’s Joint Venture operations: Punch Powertrain PSA e-transmissions. About Punch Powertrain.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Buyers 130

Barkers Procurement

FEBRUARY 20, 2023

Strong supplier relationships. Building strong relationships with suppliers is an important aspect of strategic procurement. This includes identifying and evaluating potential suppliers, negotiating favourable terms, and maintaining ongoing communication and collaboration. Continuous improvement.

Procurement 52

Procurement Cost of ownership Supplier negotiation Quantity 52

Zycus Cognitive Procurement

JANUARY 2, 2023

AI-led AP automation solutions deliver faster time to value at a lower cost of ownership. Enterprises can achieve a greater degree of invoice automation and drive AP transformation via cost-efficient invoice processing, better supplier communications, dynamic discounting, fraud detection and global compliance.

Cost of ownership 52

Cost of ownership Vendor management Data Risk 52

Procurement Tactics

APRIL 3, 2023

Social Benefits For social benefits, the number one is working with suppliers who engage with communities to ensure a better life for all the people working for the supplier. 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

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

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

Una

MARCH 16, 2023

Just calling to let you know we’re selling the current motor pool vehicles and will be switching to a cheaper supplier for our commercial fleet.” Other reasons include risk reduction , creating a cost-conscious culture, and more effective change management when implementing new procurement processes, technologies, and strategic initiatives.

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

Una

OCTOBER 12, 2023

Onshoring can involve relocating manufacturing facilities or sourcing products and services locally to support domestic suppliers and Made in America policies. Quality and Compliance Different regions and suppliers may have varying standards of quality and regulatory compliance. Offshoring Offshoring is the opposite of onshoring.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 52

Una

JANUARY 30, 2023

Expand the focus beyond cost savings Realistically, cost savings will always be in the top three priorities for procurement. But focusing on cost at the expense of everything else damages supplier relationships, stakeholder perceptions, and long-term value generation.

Procurement 98

Procurement Cost of ownership Influencing Purchasing 98

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

The Future of Procurement Technology Supplier Relationship Management (SRM) Enhancement: Justification : Strengthening supplier relationships through SRM initiatives fosters collaboration, innovation, and mutual growth. This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Empowering CPO

FEBRUARY 20, 2023

Along with cost efficiency, the quality should also improve and the evaluation is more on the Total Cost of Ownership and not only on price. Exploring Low-Cost Country Sourcing Opportunities: When the sourcing plan is being prepared, the focus is to identify categories, irrespective of their supplier base.

Procurement 52

Procurement Cost of ownership Category management Sourcing 52

Skill Dynamics

NOVEMBER 17, 2022

These can take many forms, for example implementing a new process or tool that will help with supplier negotiations, being involved earlier by the stakeholder in an RFP process, or using total cost of ownership (TCO) analysis to select a supplier.

supply chain budgeting 96

supply chain budgeting Cost of ownership Supplier negotiation Supply chain 96

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. Decisions around Supplier Selection. Unfortunately, it is not usually an easy task to select a supplier. Supply Chain Agility and Visibility.

Agile and Lean Supply Chain 52

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

Una

FEBRUARY 8, 2023

Take a deep breath and dive into this list of back-to-basic cost reduction strategies to generate impressive savings and demonstrate the value that procurement can bring. Take your context into account – company size, supplier landscape, team skillset, and appetite for change.

Procurement 59

Procurement Negotiation Contract Strategic sourcing 59

TYA Suite

DECEMBER 16, 2022

Procurement involves aspects such as finding the right supplier, analyzing the pricing, supply chain, etc. is totally focused on the cost of the orders, and procurement focuses on the creation of value and TCO (Total Cost of Ownership). Purchasing process doesn't have anything to do with the supplier relationship.

Purchasing 52

Purchasing Procurement Eprocurement Cost of ownership 52

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

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. In order to achieve this, cross-functional commodity teams are used to evaluate suppliers and their capabilities.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Empowering CPO

MAY 15, 2023

When a company commits to buying large quantities from a supplier, it often gets a better per-unit price. Another common cost-saving strategy involves supplier negotiations. The key to successful negotiation often lies in understanding the supplier’s business, including their costs, constraints, and competitive pressures.

Procurement 52

Procurement Innovation Quality Cost of ownership 52

SCMDOJO

JULY 29, 2022

That there are no constraints on lot size : Suppliers do sometimes request a minimum order quantity or the stock keeping unit comes in a specific package with a specific quantity. So, the calculated Economic Order Qty (EOQ) might be a small value, while the minimum order quantity by the supplier might be a higher value.

Quantity 107

Quantity Supply chain management Supply chain management Supply Chain Efficiency 107

Procurement Tactics

MARCH 29, 2023

Full and fair opportunity In the context of procurement, this ensures that all suppliers of the company are treated equally and all have the same opportunity to work with the company. Ethical behavior From sourcing, creation, and delivery of the product, to how employees are treated in the company, Ethical behavior must be observed.

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

Empowering CPO

FEBRUARY 1, 2024

The focus is on building robust supplier relationships, enhancing procurement processes, and fostering a culture of continuous improvement. The result is not just cost savings but a holistic transformation that positions organizations for sustained success in an ever-changing business landscape.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Sustainability 40

SCMDOJO

FEBRUARY 13, 2023

The procurement department encompasses all steps in acquiring goods, services, and works from external suppliers and performs various functions such as managing the procurement process, developing strong relationships with internal stakeholders, and negotiating contracts. Research other options to source the best value products and services.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Empowering CPO

NOVEMBER 12, 2020

This powerful insight can help in achieving reduction in Total Cost of Ownership (TCO) on an ongoing basis. Continuous cost reduction. Some of the reasons are: Insights gained can significantly help category managers in achieving reduction in total cost of ownership on an ongoing basis. Full utilization of tools.

Category management 52

Category management Cost of ownership Procurement Strategic sourcing 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. They’re upgrading their Procurement technology, process, and talent, implementing more sophisticated Supplier Relationship Management systems.

Procurement strategies 51

Procurement strategies Strategy Procurement Cost of ownership 51

Supply Chain Game Changer

NOVEMBER 13, 2018

Strategic Sourcing is a proven approach to understanding and delivering significant cost reduction based on Total Cost of Ownership (TCO), building a sustained value – creating relationship with the suppliers and category spend reduction in order to create and sustain a competitive advantage.

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Procurify

MAY 24, 2022

You are staring at Excel sheets trying to make sense of the numbers before the important meeting with your largest supplier that starts in a few minutes. . When reviewing your current procurement strategy, here are some questions you should ask: Who are your suppliers? Who are your best-performing suppliers and who are the worst?

Procurement strategies 52

Procurement strategies Strategy Procurement Cost of ownership 52

Una

JANUARY 8, 2024

They know how to discover niches in the business where they can best add targeted value, and they see supplier relationships as a value-creating goldmine rich with the potential for innovation and competitive advantage. Office Furniture Cost-First Crusader You decide to pinch pennies on office furniture. So, how can procurement help?

supply chain budgeting 52

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

Procurify

MAY 12, 2022

Procurement, on the other hand, is the process of sourcing and purchasing the goods and services a company needs to fulfill its business objectives, usually from an external source, like a third-party vendor or supplier. . It can also ensure supplier quality, efficiency, and timeliness. Identify suppliers. Payment to supplier.

Purchasing 52

Purchasing Procurement Purchase orders Cost of ownership 52

Una

OCTOBER 9, 2023

Strategic sourcing has become a pivotal approach to procurement, offering a pathway to significant cost savings , enhanced supplier relationships, and optimized sourcing practices. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers. Improved Compliance Compliance is necessary.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

JULY 16, 2023

Managed procurement services leverage expert knowledge and cutting-edge technology to not only simplify the procurement process but also to identify cost-saving opportunities, ensure supplier compliance, and manage risks. 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