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Streamline Supplier Onboarding and Data Management with Supplier Management Software

ProcurePort

Effective supplier management is crucial for businesses to maintain smooth operations in their supply chain and drive growth. However, the process of onboarding new suppliers, gathering their information, and managing supplier data can be time-consuming and prone to errors when done manually.

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Finding Meaning in Your Supplier Master Data

ProcurePort

Did you know that poor data analytics costs the United States more than $3.1 Your supplier data is incredibly invaluable and embracing it may increase your business’ operating margins by up to 60% according to McKinsey. The post Finding Meaning in Your Supplier Master Data appeared first on ProcurePort Blog.

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5 Key Business Processes for Effective Supplier Master Data Management

ProcurePort

A centralized Supplier Data Management solution must support five crucial business processes relating to supplier relationships. The post 5 Key Business Processes for Effective Supplier Master Data Management appeared first on ProcurePort Blog.

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DATA! AI don’t need no stinkin’ DATA!

Procurement Insights

Both Supplier Discovery and Contract Management surfaced as the lowest-hanging fruit for the fastest win. However, one line from the above excerpt that does require some clarification, is the conclusion reached by the panel’s recommendation “ to avoid AI projects that involve dependency on clean data.

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The Cost-Plus World of Supply Chains: The Macroeconomic and Geopolitical Environment

From new pricing strategies and material substitutability to alternative suppliers and stockpiling, a new GEP-commissioned Economist Impact report reveals that enterprises are adopting a variety of approaches underpinned by data and technology.

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12 Ways To Get Control Over Supplier Master Data

ivalua

Procure-to-pay (P2P) automation and analytics won’t work very well without accurate supplier master data. Yet that goal — data accuracy — remains a considerable challenge for many Procurement and Accounts Payable organizations. Accurate supplier master data is just one aspect of a Digital Procurement journey.

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8 Tips to Help Procurement Optimize Supplier Master Data

ivalua

Gartner predicts that by 2023, organizations that don’t optimize supplier master data management (MDM) could have wrong information for half of their suppliers! The advice comes from this report: “ Gartner Supplier Master Data: Gain Control Over Your Supplier Master Data Before It’s Too Late.”

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How One Manufacturer Used GEP SOFTWARE To Save $45M in Direct Material Sourcing

Multiple legacy systems prevent procurement from standardizing processes and tracking what they’re spending with each supplier.

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Return to Success: Streamlining Returns in the Supply Chain for Enhanced Efficiency

Speaker: Cathy Morrow Roberson, Research Manager for the Reverse Logistics Association

Businesses need to leverage advanced tracking systems and data analytics to identify bottlenecks and improve supply chain visibility. While establishing efficient communication channels with suppliers and empowering customers with comprehensive return information can be challenging, it is attainable with the right approach and tools.