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.

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

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

Procurement Leaders

FEBRUARY 26, 2024

This might be a bold claim but when Amanda Davies, Chief Procurement & Sustainability Officer at Mars Wrigley, announced that she was adding R&D to her remit to become Chief R&D, Procurement & Sustainability Officer, it provided a welcome reminder of the opportunity we have as a function.

Cost of ownership 130

Cost of ownership Agile and Lean Supply Chain Sustainability Procurement team 130

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.

Strategic sourcing 246

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 246

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. 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

Spend Matters

JANUARY 8, 2024

In 2024, this will require continued transformation as businesses look to increase resilience, swift value delivery, combatting inflation and sustainable procurement practices. Index-linked clauses with key suppliers can also be used to ensure fairness and balanced exposure for all parties.

Procurement solutions 68

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 68

SCMDOJO

JULY 3, 2023

Procurement training equips you to excel in the corporate world by teaching you everything from supplier dynamics to negotiating strategies. Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management.

Cost of ownership 81

Cost of ownership Procurement Category management supply chain software solutions 81

Una

NOVEMBER 1, 2022

These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Investing in procurement technology , team training, and supplier relationship management will have greater rewards than short-term selections based on the lowest price or aggressive supplier negotiations.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

FEBRUARY 25, 2021

They may not consider potential issues of integrations, supplier onboarding, supply chain data management, change management and system optimization, all of which add to complexity and costs. ERPs tend to be built for the back office, so they lack the consumer-like user experience that leads to high user adoption among suppliers.

supply chain budgeting 221

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

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

Empowering CPO

MAY 4, 2023

With the growing emphasis on sustainability, ethical sourcing, and digital transformation, procurement is no longer just about cost reduction; it’s an essential function that can provide a strategic advantage to modern businesses.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 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

Skill Dynamics

MARCH 12, 2024

Today’s competitive business landscape demands cost optimization tools that significantly move the needle. It’s about more than just cutting expenses; it’s about making strategic decisions that drive sustainable growth and create value.

Cost optimization 69

Cost optimization Cost of ownership Procurement Strategy 69

Empowering CPO

FEBRUARY 1, 2024

As a trailblazer in the field, we lead the way with our innovative suite of services, offering organizations a strategic edge in achieving sustainable success. The focus is on building robust supplier relationships, enhancing procurement processes, and fostering a culture of continuous improvement.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Sustainability 40

Skill Dynamics

OCTOBER 19, 2023

Nonetheless, there is a whole lot more to opimizing procurement processes than just cutting costs and then increasing efficiencies. Your business needs a broader vision to address sustainability, deliver on risk management and resilience challenges, nurture buyer and supplier relationships, as well as meet procurement excellence.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 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

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

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

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

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

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

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

SCMDOJO

APRIL 11, 2023

It covers the basics of procurement, including procurement strategies, contract management, and supplier selection. The course covers Activity Based Costing, Working Capital, the Cash-to-Cash cycle, and Discounted Cash Flow Analysis. The course is designed to be interactive, engaging, and easy to follow. Rating: Not provided.

Supply chain management 114

Supply chain management Supply chain management supply chain software solutions Supply chain 114

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

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

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

The concept is fundamental to sustainable growth, competitive advantage, and long-term success. Why does procurement need to move beyond cost-cutting to value creation? Understanding Cost vs. Value You’re not alone if you’re struggling to get a handle on the difference between cost and value in procurement.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Agile and Lean Supply Chain Purchasing 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 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

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

SCMDOJO

APRIL 26, 2023

This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money. This strategy also ensures strategic supplier relationship management as per the various categories. Read More: What Does a Procurement Manager Do?

Category management 77

Category management Management Supplier relationship management supply chain software solutions 77

NLPA (Next Level Purchasing Association)

OCTOBER 17, 2022

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. . Procurement professionals are evaluated on their ability to control costs, manage supplier risk, enforce environmental policies, and spend ethically.

supply chain budgeting 52

supply chain budgeting Risk Agile and Lean Supply Chain Risk management 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

The Good Spending

NOVEMBER 5, 2021

Selecting suppliers by cost-only criteria (even as sophisticated as the TCO) contradicts procurement ambition to become the contributors of a value. This article will map our journey from cost-cutting to value delivery on the road to Procurement 4.0. term sustainability. VBP will provide.

Procurement 52

Procurement Bidding Supply Chain Efficiency Contract 52

Supply Chain Game Changer

MARCH 24, 2020

A sole source is a supplier selected because they are uniquely able to provide the materials or components, whether by virtue of intellectual property or other means of going to market with exclusivity. Taking Total Cost of Ownership Seriously. This Supply Chain mapping must also include your transportation service suppliers.

Agile and Lean Supply Chain 82

Agile and Lean Supply Chain Supply chain Supply Cost of ownership 82

Supply Chain Game Changer

JANUARY 14, 2020

I’ve made a career rethinking supply chain strategy, sales and operations planning, and talent management helping executives and their teams reimagine their approach to supply chain management by: 1) leveraging new ways of thinking about supply chain and sustainability in the world we share.

Leadership 66

Leadership Agile and Lean Supply Chain Supply Chain Optimization Supply chain 66

Supply Chain Game Changer

MARCH 6, 2019

Organizations are ‘going carbon neutral by 2025’, and ‘implementing Artificially Intelligent business systems’ and ‘sourcing form solely environmentally friendly suppliers’. A report in 2016 by GT Nexus, “showed there is a demand for ethically and sustainably sourced products. Total Value Ownership (TVO).

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

Empowering CPO

JUNE 27, 2023

We have helped numerous organizations achieve significant cost savings, enhance supplier relationships, mitigate risks, and streamline procurement processes through our category spend analysis services. We will explore cost reduction opportunities, supplier performance enhancement, risk mitigation, and compliance assurance.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40