Una

NOVEMBER 1, 2022

These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Strategic sourcing is a holistic approach to developing supply channels that consider all activities within a procurement cycle to secure the best goods and services for the business.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Tactics

MARCH 29, 2023

Transparency In every decision and activity that impacts the environment, society, and economy, there should be transparency when it comes to sustainability goals and objectives. Transparency is the basis for stakeholders to collaborate to achieve sustainability. Frequently asked questions + What is Sustainability?

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

Empowering CPO

FEBRUARY 11, 2024

At EmpoweringCPO, we understand the pivotal role it plays in optimizing the supply chain, reducing costs, and fostering long-term competitiveness. Consulting firms like ours leverage cutting-edge tools and analytics to gain deep insights into market trends, supplier performance, and cost structures.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability 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. To thrive, procurement functions need to become strategic partners within the organization, actively driving growth and efficiency.

Category management 52

Category management Management Procurement Supplier relationship management 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

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

Supply Chain Game Changer

NOVEMBER 19, 2018

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. Digital transformation of the supply chain will change everything – for the better.

Supply Chain Efficiency 45

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

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. Offshoring Offshoring is the opposite of onshoring.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 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

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 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

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

SCMDOJO

FEBRUARY 13, 2023

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, on the other hand, encompasses all the steps involved in acquiring goods, services, and works from external suppliers.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

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. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

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

Jaggaer

APRIL 22, 2019

Procurement teams are in a unique and important position to drive such initiatives forward as these improvements are only possible through actions taken in the supply chain. using a total cost of ownership strategy) and identify key risks (and related costs) to avoid. A quick look at the regulatory landscape.

Sustainability 91

Sustainability Supply Chain Efficiency Procurement supply chain software solutions 91

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

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. Value-Creation Maestro You invest a bit more in fuel-efficient, low-maintenance vehicles with a longer lifespan.

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

TYA Suite

DECEMBER 16, 2022

And it helps the organization to function efficiently. 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 52

Purchasing Procurement Eprocurement Cost of ownership 52

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

Positive Purchasing

JANUARY 13, 2023

We are seeing a lot of bottlenecks in supply chains, so we must be thinking far into the future of what energy we need, so we can provide the services that are in demand ahead of this. Another point to consider is where your supplier is sourcing their renewable energy from. New technology.

Procurement 98

Procurement Cost of ownership Supply Chain Efficiency Demand 98

Supply Chain Trend

DECEMBER 22, 2023

In the end, IBP is a philosophy, or belief system that strives for transparency, near perfect integration and alignment, both horizontal (between functions, BUs, even companies) and vertical (between strategy, planning and execution). These are ideas of enhancement, evolution, not replacement. So, there are many possible approaches.

Supply Chain Efficiency 78

Supply Chain Efficiency Supply Chain Optimization Quality supply chain budgeting 78

Procurement Software

MARCH 11, 2022

In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategic sourcing and supplier collaboration. Bonuses or additional goods / services provided at no extra cost.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategic sourcing and supplier collaboration. Bonuses or additional goods / services provided at no extra cost.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Supply Chain Game Changer

MARCH 6, 2019

Subscribe to Supply Chain Game Changer. Organizations are ‘going carbon neutral by 2025’, and ‘implementing Artificially Intelligent business systems’ and ‘sourcing form solely environmentally friendly suppliers’. The responsibility of sourcing responsibly is shared between stakeholder, supplier, buyer and society at large.

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

Sourcing and Supply Chain

JUNE 24, 2021

Hence, buyers have also adopted the concept of suppliers to bundle the requirement of multiple locations and the similar product as a category to have a better understanding, control, and volume to negotiate. It maximizes value, efficiency, quality, and innovation, as well as mitigating risk. Top 10 Global Zinc Suppliers Data.

Category management 52

Category management Management Procurement Market analysis 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. The verdict?

supply chain budgeting 221

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

Procurement Tactics

SEPTEMBER 15, 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. Negotiate sustainability with your suppliers.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 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. Greater transparency: Real-time tracking of procurement activities allows for better monitoring and control of the entire process.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Strategic Sourceror

JULY 11, 2022

Does your potential supplier have suppliers? Every once in a while, a supplier is the single source for the materials you need. But more often than not, your supplier will also have a supplier. Ideally, however, the vendor you partner with should have multiple suppliers.

Cost of ownership 57

Cost of ownership Suppliers Supply Chain Efficiency Strategic sourcing 57

Procurement Templates

JUNE 18, 2023

Here are some strategies and practices that can be implemented: Long-term contracts: Procurement teams can negotiate long-term contracts with suppliers that include price adjustment mechanisms. These mechanisms can be tied to inflation indices or specific cost drivers, allowing for adjustments in prices based on changes in inflation.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

SCMDOJO

APRIL 3, 2022

They are far more convenient than conventional discussions and negotiations, providing procedural integrity and transparency while also lowering final prices owing to enhanced supplier competitiveness. Digital bidding, or eAuctions, are a more efficient way of negotiating with vendors in the international market.

Supply Chain Efficiency 138

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 138

SCMDOJO

APRIL 26, 2023

This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money. It involves segmenting spending into areas that contain similar or related products, allowing for a focused approach on categories that offer opportunities for consolidation and efficiencies.

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. It helps in achieving better cost management and savings, improving supplier relationships, ensuring the quality of goods and services, and mitigating risks associated with supply chain disruptions.

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. It helps in achieving better cost management and savings, improving supplier relationships, ensuring the quality of goods and services, and mitigating risks associated with supply chain disruptions.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

Una

SEPTEMBER 21, 2023

These actions typically involve negotiating better deals with suppliers , optimizing procurement processes, and finding cost-efficient alternatives for goods and services. Here are some cost-saving levers you can pull: Negotiation and supplier management Negotiation skills are at the heart of cost savings.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52

Empowering CPO

JUNE 27, 2023

With our extensive expertise and innovative approach, we empower organizations to harness the true potential of spend analysis and unlock hidden opportunities for savings, efficiency, and growth. We will explore cost reduction opportunities, supplier performance enhancement, risk mitigation, and compliance assurance.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40