World of Procurement blog

APRIL 23, 2024

At its most basic, a supply chain is a system consisting of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer. What Is a Supplier? A supplier provides products or services to another entity in the supply chain. What Is a Vendor?

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. Improved Customer Satisfaction A structured department is better equipped to handle customer demands. Materials Planner Forecasts material needs based on production plans and sales forecasts.

Supply Chain Optimization 76

Supply Chain Optimization Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 76

IBM Supply Chain Blog

FEBRUARY 19, 2024

Supply chain disruptions are caused by a variety of factors, from pandemics, natural disasters and political instability to supplier bankruptcy and IT failures. To mitigate these risks , companies need the resources and technology to develop robust contingency plans.

supply chain software solutions 90

supply chain software solutions Supply chain management Supply chain management Supply Chain Efficiency 90

Finale Inventory

APRIL 18, 2024

These fees penalize sellers for consistently maintaining low stock levels relative to historical sales data. Knowing your sell-through rate helps predict future demand and determine how quickly your inventory moves. Here’s how to build a robust replenishment strategy with the right data: 1.

Inventory 52

Inventory Real-time Visibility Strategy Demand 52

Supply Chain Game Changer

JANUARY 19, 2022

Improve Your Supplier Relationships. When it comes to supply chain and logistics , always remember that the supply chain process starts with your suppliers. Therefore, one of the strategic solutions to improve your supply chain is to evaluate and maintain good relationships with your suppliers. Great suppliers are reliable.

Supply Chain Efficiency 109

Supply Chain Efficiency Agile and Lean Supply Chain Supply chain Strategy 109

Procurement Heads

APRIL 27, 2023

But I think procurement leaders are often particularly skilled in this area; since it is often imperative to bring together different departments and stakeholders, for example, to agree on a specification or select a supplier. Also key was demand planning, matching our purchasing plans with the ever-changing demand situation.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Stakeholder engagement Supply chain 130

Procurement Heads

APRIL 27, 2023

But I think procurement leaders are often particularly skilled in this area; since it is often imperative to bring together different departments and stakeholders, for example, to agree on a specification or select a supplier. Also key was demand planning, matching our purchasing plans with the ever-changing demand situation.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Stakeholder engagement Supply chain 130

SCMDOJO

JUNE 21, 2023

SCaaS: Supplier Relationship Management SCaaS – Supplier Relationship Management (SRM) empowers professionals to efficiently manage company suppliers. However, many companies lack awareness regarding supplier onboarding, selection, and S&OP with supplier management. Why outsource Demand Planning?

Supply Chain Optimization 91

Supply Chain Optimization Supply Chain Efficiency supply chain budgeting supply chain software solutions 91

Supply Chain Trend

FEBRUARY 5, 2024

To this special feature I wrote a commentary, highlighting The Limitations of Forecasts and Plans on Decision Making and the changing role of the forecaster/planner.

Demand Planning 60

Demand Planning Demand Supply chain Collaboration 60

SCMDOJO

APRIL 4, 2023

By harnessing the power of data and analytics, companies can uncover valuable insights into their supply chain processes, pinpoint areas in need of improvement, and make informed decisions that can boost their bottom line. When it comes to managing a supply chain, having access to real-time data can be a game-changer.

Supply Chain Analytics 111

Supply Chain Analytics Supply Chain Optimization supply chain budgeting Supply Chain Efficiency 111

SCMDOJO

AUGUST 16, 2023

[Read More: Rivian: Navigating Supply Chain and Operational Challenges and Embracing Growth ] Walmart’s Supply Chain: Integrated Supply Chain Success Data-Driven Success Factors In the realm of modern supply chain management, data-driven strategies play a pivotal role in enhancing a company’s competitiveness.

Supply Chain Efficiency 76

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Supply chain 76

Arkestro

JANUARY 4, 2023

Reducing supplier risk. This, coupled with the typical 30-plus years’ experience procurement veteran approaching retirement, companies are seeing their tribal knowledge about suppliers and processes walk out the door and not be replaced.”. scenario-driven demand plans. Ensuring continuity of supply. Reducing spend.

Supply Chain Optimization 104

Supply Chain Optimization Procurement team Agile and Lean Supply Chain Supply Chain Efficiency 104

EazyStock

NOVEMBER 17, 2022

The extended sales period sees increased pressure on companies to get ahead on their demand planning and ensure they have the necessary inventory. It is also important to consider qualitative data. As suppliers’ lead times increase, so does the risk of running out of stock or longer lead times for the end customer.

Purchasing 52

Purchasing Supply Chain Optimization Supply Chain Efficiency Inventory 52

EazyStock

NOVEMBER 17, 2022

The extended Black Week sales period sees increased pressure on companies to get ahead on their demand planning and ensure they have the necessary inventory. It is also important to consider qualitative data. In the event of high demand for stock items, there is also a risk of tension between customers and suppliers.

Purchasing 52

Purchasing Supply Chain Optimization Supply Chain Efficiency Inventory 52

EazyStock

NOVEMBER 17, 2022

The extended Black Week sales period sees increased pressure on companies to get ahead on their demand planning and ensure they have the necessary inventory. It is also important to consider qualitative data. In the event of high demand for stock items, there is also a risk of tension between customers and suppliers.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Inventory Real-time Visibility 52

Finale Inventory

SEPTEMBER 6, 2023

Demand planning with inventory management software and data reports. For businesses, it means meticulous planning to get ahead of Q4 in order to navigate the whirlwind of sales, promotions, and elevated customer expectations. Q4 Demand Planning is Crucial Inventory demand planning for Q4 isn’t a casual month-long affair.

Demand Planning 52

Demand Planning Inventory Demand Purchasing 52

Una

AUGUST 2, 2022

Ivalua/Hackett’s 2022 Procurement Insights and Key Issues report found that laggards are being held back by concerns including fear of failure, access to suppliers, legacy system costs, and teams lacking the skills to leverage digital transformation. Procurement is noticeably lagging behind other functions in terms of digital transformation.

Procurement 98

Procurement Supply Chain Efficiency Real-time Visibility supply chain budgeting 98

Supply Chain Game Changer

JULY 28, 2021

A supply chain manager is responsible, among others, for the transportation of goods from the manufacturer to the supplier. Logistics and transportation are essential for the well-functioning of the company or business and if done and planned wisely, they can be very efficient and low cost. Inventory Management and Demand Planning.

Supply Chain Efficiency 98

Supply Chain Efficiency Supply chain Supply chain management Supply chain management 98

NLPA (Next Level Purchasing Association)

JUNE 23, 2022

In this broader perspective, the process includes executive S&OP, Material Requirements Planning, Master Scheduling, Plant and Supplier Scheduling, Manufacturing Capacity, Outsourcing, Distribution and other detailed planning/coordination (1). Link strategic planning with day-to-day sales and operational activities.

Demand Planning 52

Demand Planning Demand supply chain budgeting Strategic planning 52

EazyStock

JANUARY 17, 2022

Digitalizing processes to incorporate artificial intelligence will deliver improved data accuracy and enhanced visibility to help quickly interpret and analyze information to make more informed decisions. With accurate data, businesses can adapt and drive improvements faster. Improving Demand Forecasting and Demand Planning.

Supply chain management 52

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Efficiency 52

Empowering CPO

JUNE 26, 2023

As a leading procurement services company specializing in spend analysis, EmpoweringCPO understands the vital role that insightful data plays in driving informed decision-making and optimizing procurement processes. Businesses are now harnessing the power of data to drive their procurement strategies and achieve better outcomes.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Collaboration 40

Supply Chain Trend

AUGUST 13, 2020

Understanding this differentiation is important for the manager trying to navigate autonomous planning: rather than assuming everything can be autonomous, the manager can take a more sophisticated view onto the people, process & technology needed to support the future of integrated planning.

supply chain software solutions 147

supply chain software solutions Supply Chain Optimization supply chain budgeting Supply chain 147

Supply Chain Collaborator

JUNE 4, 2019

Harnessing today’s unprecedented (and still growing) computing power, AI for supply chain crunches all the data collected by the disparate systems that comprise the supply chain management tech stack to arrive at optimal decisions for supply chain management without the need for human intervention.

Supply chain management 74

Supply chain management Supply chain management supply chain software solutions Supply Chain Efficiency 74

NLPA (Next Level Purchasing Association)

MAY 7, 2023

By aligning procurement plans with the overall S&OP process, organizations can ensure that they have the right materials available to meet customer demand, while minimizing inventory carrying costs and reducing the risk of stockouts. Supply Risk Checklist Vendor Risk Management Your Business Strategy Is Foolproof, Right?

supply chain budgeting 52

supply chain budgeting Demand Strategic planning Demand Planning 52

EazyStock

NOVEMBER 18, 2022

Put simply, it helps you invest in the right stock using the data in your NetSuite ERP. Inventory optimization is about having the right amount of inventory to meet customer demand without wasting money on unnecessary stock. We minimize stockouts, improve stock availability and help you manage your suppliers.

Purchase orders 52

Purchase orders Inventory Demand Demand Planning 52

Supply Chain Game Changer

JULY 21, 2021

In supply chain, simply observing your entire supply chain in action to assess it is not possible, but with data and a reliable performance management system like The Owl, you can at-least have a real-time view of your supply chain performance through KPIs and metrics. Procurement Cost. Cash to Cash Cycle Time (Cash).

Supply Chain KPIs 98

Supply Chain KPIs supply chain budgeting Supply Chain Efficiency supply chain software solutions 98

EazyStock

NOVEMBER 18, 2022

Put simply, it helps you invest in the right stock using the data in your NetSuite ERP. Inventory optimization is about having the right amount of inventory to meet customer demand without wasting money on unnecessary stock. We minimise stockouts, improve stock availability and help you manage your suppliers.

Purchase orders 52

Purchase orders Inventory Demand Demand Planning 52

Una

SEPTEMBER 6, 2022

Procurement process automation can involve anything from automated supplier discovery, payment processing, spend analytics , and contract approval. Taken together, they can give your lean team more time to focus on strategic activities that add value, such as supplier relationship management and long-term planning.

Agile and Lean Supply Chain 98

Agile and Lean Supply Chain supply chain budgeting Procurement Procurement strategies 98

Zycus Cognitive Procurement

MAY 31, 2022

Unreliable supplier assessments. Without a reliable supplier, the entire launch could be at risk. Unfortunately, supplier assessments can often be unreliable, particularly during the early stages of a launch. In addition, supplier assessments are often based on assumptions and guesses, rather than actual data.

Procurement 40

Procurement Raw materials Price Demand 40

Supply Chain Game Changer

OCTOBER 1, 2019

It is often contrasted with digital, which is how computers store and process data using ones and zeros.” This demand would be translated to bills of material and component requirements through manual or semi-automated means. Product information and parameters would be manually entered into reports and systems.

Supply Chain Optimization 82

Supply Chain Optimization Supply Chain Efficiency supply chain software solutions Supply chain 82

Finale Inventory

JUNE 29, 2022

Inaccurate Demand Forecasting. It is important for businesses to have a system that predicts the demand they will experience over a certain period of time based on data and trends. However, if the data is inaccurate, it can lead to a business purchasing more inventory than they need, creating a surplus. Customer Loyalty.

Inventory 52

Inventory supply chain software solutions Demand Price 52

Supply Chain Game Changer

OCTOBER 12, 2021

I hold people, suppliers, and teams accountable for delivering on their commitments. Today, supply chain is all about processing, integrating, and analyzing data. The scale, complexity, and speed that goes into planning, producing, and delivering a product cannot be compared to anything that existed even five years ago.

Leadership 105

Leadership Supply Chain Efficiency Supply chain Distribution channels 105

Supply Chain Game Changer

MARCH 23, 2021

It is easy for an Executive to issue high level orders to add new suppliers for instance, but the number of processes and the amount of effort required to make that seemingly simple request happen can be enormous. New Supplier and Materials Set Up. Following is a list of the tasks required. Warehouse Order Fulfillment.

Supply Chain Efficiency 64

Supply Chain Efficiency Supply chain Real-time Visibility Supply 64

SCMDOJO

NOVEMBER 17, 2023

Inventory Management & Optimization: Managing inventory as working capital, focusing on demand planning, optimization, safety stock management, and meeting customer service expectations. Understanding and applying technologies like IoT and big data are highlighted as essential components for staying ahead in the field.

Agile and Lean Supply Chain 72

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 72

The Procuretech Podcast

FEBRUARY 22, 2022

Data may have changed by the time you have tried to update and work collaboratively on an Excel and email-based project. Direct material supply chains often have added layers of complexity, where you need to understand relationships beyond your 1st tier suppliers. Demand planning. Spend analytics.

supply chain software solutions 40

supply chain software solutions Supply Chain Efficiency Innovation Supply chain 40

Supply Chain Game Changer

NOVEMBER 10, 2018

Supplier chain collaboration itself isn’t new. With pricing under pressure from recession-scarred consumers, the temptation for retailers is to transfer the pain upstream to their suppliers by passing on price reductions and forcing them to bear an increasing share of costs. Without the apps, the iPhone is just another ordinary phone!

Collaboration 66

Collaboration Supply Chain Optimization Agile and Lean Supply Chain supply chain budgeting 66

Planergy

DECEMBER 8, 2022

How AP can improve relationships with your key suppliers. Demand forecasting helps you make educated business decisions based on various metrics, including economic factors. Because handling these tasks manually is time-consuming, plenty of forecasting tools aggregate the data for you. Types of Demand Forecasting Models.

Demand 52

Demand Data supply chain software solutions Inventory 52