Procurement Templates

NOVEMBER 21, 2024

Coupa, Ariba) Data analytics tools (e.g., Coupa, Ariba) Data analytics tools (e.g., Resources: Online courses on strategic sourcing (e.g., Use Data-Driven Arguments: Leverage cost breakdowns and benchmarks to negotiate better terms. Free online tutorials on data visualization and analytics.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. Let’s look at what strategic sourcing is, its best practices, and five key benefits: What is the difference between strategic sourcing and procurement? Strategic sourcing best practices. Here are four best practices for strategic sourcing: 1.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. Data Collection : Gather comprehensive data related to spending within each procurement category. Can you spot the mistakes!

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Procurement Freelancers

JUNE 10, 2023

To optimise an organisation’s supplier base, procurement experts employ strategic sourcing, a methodical, data-driven strategy.… … The post An Insight Into Strategic Sourcing first appeared on Procurement Blog | Procurement & Supply Chain News.

Strategic sourcing 95

Strategic sourcing Strategic sourcing Sourcing Supply chain 95

ProcurePort

NOVEMBER 19, 2020

This means mining through data, staying updated on the latest technology being used within the organization for strategic sourcing, and staying on top of current market trends as well. However, taking this sentiment one step further, strategic businesspeople conduct continuous internal evaluations on their […].

Sourcing 264

Sourcing Strategic sourcing Strategic sourcing Data 264

Spend Matters

NOVEMBER 25, 2024

Overall, spend analytics plays a vital role in helping procurement teams drive strategic sourcing initiatives, enhance supplier relationships and ultimately contribute to the organization’s bottom line. Additionally, it can model and marry a variety of data alongside the spend, from contracts to risk.

Procurement team 120

Procurement team Market analysis Strategic sourcing Strategic sourcing 120

ivalua

JUNE 26, 2023

Vishal Patel and Peter Hunt delivered their session ‘Creating Value with Strategic Sourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to category management and strategic sourcing. The answer is simple – automation.

Supply Chain Efficiency 244

Supply Chain Efficiency Strategic sourcing Strategic sourcing Procurement 244

Spend Matters

APRIL 10, 2025

Supply chains are more complex than ever, stakeholder expectations are soaring and the sheer volume of data that procurement teams must sift through is overwhelming. With AI, procurement teams can process and analyze vast amounts of data (i.e., big data) in real time, spotting correlations and trends that would otherwise go unnoticed.

Supply Chain Efficiency 107

Supply Chain Efficiency Supply Chain Optimization Procurement Procurement team 107

Spend Matters

MAY 14, 2025

Strategic sourcing, by contrast, is more tactical. Coupa customers already benefit from community insights and have been able to integrate market data from partners like Beroe and WNS (The Smart Cube). But until now, they could not use that data to build actual strategies in a structured way.

Category management 109

Category management Spend management Management Sourcing 109

Spend Matters

FEBRUARY 13, 2025

But to make its potato chips, Utz buys many different materials from many different suppliers, and Procurement needed greater data granularity. Utzs Procurement team had never focused on influencing budget owners in the corporate services area to strategically source their categories.

Influencing 106

Influencing Procurement supply chain budgeting e2e 106

Let's Talk Supply Chain

MARCH 2, 2025

In this fast-paced economic landscape, the importance of strategic supplier relationship management cannot be overstated. By harnessing the‍ power of data-driven insights, organizations can navigate these challenging waters with precision and grace.

Supplier relationship management 52

Supplier relationship management Data Suppliers Management 52

IBM Supply Chain Blog

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

Let's Talk Supply Chain

MAY 19, 2025

Recognized as a trusted and independent source of procurement research, ProcurementIQ offers a comprehensive library of data and analysis on over 1,000 categories. It created a very open and honest feedback loop And it all started with conversation and collaboration. 29.17] The ideal client for ProcurementIQ.

Purchasing 52

Purchasing Supply Chain Efficiency Data Agile and Lean Supply Chain 52

Spend Matters

JANUARY 23, 2025

The momentum around this ‘best practice’ has been further accelerated by the marketing efforts of market intelligence companies selling data and even a few purpose-built software platforms to make these efforts more efficient and accurate. supplier count, event size).

Price 107

Price Negotiation supply chain software solutions Supply Chain Optimization 107

Spend Matters

MAY 1, 2025

Heres how to fix these issues: Standardize catalog data and supplier onboarding: Implement structured data validation for accurate pricing and seamless supplier integration. Limited data visibility for purchasing decisions: Procurement teams struggle to track supplier performance, risk factors and cost-saving opportunities.

Real-time Visibility 77

Real-time Visibility supply chain budgeting Procurement Supply Chain Optimization 77

Una

AUGUST 31, 2023

Overcoming Challenges with Strategic Sourcing for SMEs Explore how strategic sourcing for SMEs can help procurement professionals overcome the unique challenges of operating a small business. There’s a good argument to be made that the smaller you are, the more strategic you need to be.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

Procurement Tactics

MARCH 16, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Strategic Procurement — Everything You Should Know Strategic procurement allows businesses to meet the demand of the current procurement landscape by making sense of the data and automating the procurement process.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Planergy

MARCH 10, 2025

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Data-driven insights improve resource allocation and student outcomes. Technology simplifies data storage, analysis, and accessibility for schools.

Data 52

Data Management Budget Real-time Visibility 52

Spend Matters

MAY 13, 2025

From automating repetitive tasks to enabling more informed data-driven decision making, the impact of this technology is both significant and rapidly accelerating. Enabling faster, more confident decisions With AI surfacing insights from fragmented and complex data sets, procurement teams can make decisions faster and with more confidence.

Real-time Visibility 69

Real-time Visibility Procurement Procurement team Strategic sourcing 69

Jaggaer

JULY 4, 2024

Christian Heinrich, Co-Founder and Managing Director, c arbmee The 80% Challenge I was recently delighted to participate in a JAGGAER live webinar focused on the introduction, in recent years, of carbon emissions measurement as a factor in strategic sourcing. Data transparency Data transparency will be essential to carbon accounting.

Strategic sourcing 59

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 59

Spend Matters

DECEMBER 17, 2024

For those who do not have robust strategic sourcing to start with, the process efficiency, particularly for order-to-invoice to get the right price, will resonate most (i.e.: On the Invoice side, the cognitive scan and capture really gets people excited about the potential to reduce manual data entry. 2- and 3-way matching).

Procurement 109

Procurement Change management Strategic sourcing Strategic sourcing 109

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. 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 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. 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

Arkestro

DECEMBER 26, 2024

Resources / Blog / 5 Procurement Industry Trends to Watch in 2025 5 Procurement Industry Trends to Watch in 2025 In recent years, the procurement industry has undergone unprecedented transformations driven by the adoption of digital transformation, big data, and advanced technology like artificial intelligence (AI), machine learning, and automation.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

ivalua

JUNE 29, 2020

According to OECD and National Health Expenditure data, US healthcare spending per person was approx $10,224 in 2017. According to 2019 Definitive Healthcare data, U.S. Across this supply chain there is typically a lack of visibility due to siloed information and data. The only way to really understand that is data.

Agile and Lean Supply Chain 219

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 219

ivalua

DECEMBER 21, 2021

Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.

Contract 130

Contract Sourcing Suppliers Data 130

Spend Matters

APRIL 23, 2025

For the past 12 years, Sammy Rashed has applied the experience he gained from being a procurement and strategic sourcing leader at Novartis and Merck to serve as the expert facilitator of several practitioners-only Procurement Think Tanks globally.

Procurement team 74

Procurement team Procurement Data Sourcing 74

Spend Matters

OCTOBER 31, 2024

The idea for True ValueHub was born out of the pain points our Founder, Gautam Pasari, experienced first-hand over the years working for various manufacturing companies while leading their strategic sourcing, category management and digital transformation functions.

Real-time Visibility 123

Real-time Visibility Supply Chain Efficiency Buyers Category management 123

Procurement Templates

DECEMBER 11, 2024

Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Foster Strategic Alliances: Build long-term partnerships with suppliers through joint ventures and co-development projects. Automate supplier evaluation using real-time data.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Cost of ownership 130

Jaggaer

JULY 10, 2024

But to do this effectively you must first enrich your information with data on supplier risk and ESG. Category management: You can then take this enriched data and turn it into insights that help to inform and define executable category strategies.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Bidding 52

TYA Suite

NOVEMBER 25, 2024

What is strategic sourcing and how does it work? Strategic sourcing is a method used by businesses to buy goods and services in a way that focuses on long-term value, not just short-term savings. Strategic is about building strong, lasting relationships with suppliers that deliver the best overall value.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

Skill Dynamics

FEBRUARY 4, 2025

Strategic Sourcing and Supplier Relationship Management Strategic sourcing skills are crucial for procurement professionals to effectively identify and then leverage opportunities within the supply base to create value. Strategic sourcing can also help reduce the overall risk in a given supply chain.

Procurement 59

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 59

Procurement Insights

DECEMBER 11, 2024

This integration will streamline strategic sourcing, reducing cycle times and enhancing efficiency. Ensuring data security across the supply chain will become paramount, with procurement professionals playing a key role in safeguarding against cyber threats.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Procurement Supply Chain Efficiency Sustainability 59

Jaggaer

FEBRUARY 28, 2025

However, simply cutting costs isnt a sustainable strategy CPOs must move beyond tactical price reductions and embrace strategic cost management. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing. Ready to digitally transform your business?

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Supply Chain Optimization Real-time Visibility 52

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. Sustainable master data management and governance: As much as 55% of projects fail due to data management issues.

supply chain budgeting 221

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

Jaggaer

FEBRUARY 20, 2025

Rather than treat procurement as a series of disparate tasks, global organizations in all sectors implement efficiency across the source-to-pay journey. Big data and digital technologies support the aggregation of purchases across business units to improve performance, provide better spend analysis, and drive business value.

Sourcing 52

Sourcing e2e Supply Chain Efficiency Strategic sourcing 52

Procurement Tactics

AUGUST 25, 2022

Kearney where he spent 10 years in the consulting firm’s strategic IT and operations practice which drives client business transformation and optimization initiatives. He is a member of the advisory board for the world’s premiere global association for sourcing and procurement professionals.

Procurement 231

Procurement Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 231