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Embracing AI and Predictive Procurement to Overcome Industry Challenges

Arkestro

Fortunately, procurement teams can overcome these challenges — but they need higher-quality procurement data and optimized procurement processes to make it happen. In this blog, we’ll share how to improve data quality, leverage attribution frameworks, and optimize cadence and tempo to increase cost savings.

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Critical differences between IT procurement and legacy sourcing

The Good Spending

A few years ago, companies purchased printers, consumables, and technical support as separate products and services to support printing. Even IT hardware is now being purchased not as a physical object. High complexity of demand management As we know, the procurement process starts with demand planning and analysis.

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From Spend to Supply — Coupa’s direct spend management progress

Spend Matters

Purchase Order (PO) collaboration for buyers and suppliers to know in real-time the status of POs and Scheduling Agreements (SA), acknowledgements, ASNs, etc. Forecast collaboration on forecasts and demand plans to anticipate shortages or bottlenecks and automate exception management.

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What is a Sourcing Agency and How does it work?

SCMDOJO

Task-Specific Services: Primarily involved in tasks like supplier identification, negotiation, and quality control. READ MORE ON: “STRATEGIC SOURCING VS. PURCHASING – 7 KEY DIFFERENCES” at our website SCMDOJO! Here, the agency seeks to understand the client’s specific needs, budget constraints, and quality standards.

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6 Career Paths in Supply Chain Management You Can Take

SCMDOJO

Planning roles include: A supply chain planner analyzes performance and improves processes. A demand planner estimates the future demand for given products. (Do Do check out our Demand Planning Ultimate Guide ) A production planner ensures the required manufacturing output meets the demand.

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Leveraging Lean Procurement

Una

Utilizing a GPO as an extension of your procurement team can help streamline the purchasing process, save costs, and save time by eliminating indirect spend contract negotiations. Procurement can play an integral part through better demand planning (enabled through spend analytics) and by reducing duplicate orders and maverick spend.

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Supply Chain as a Service (SCaaS): A Golden Opportunity for the Supply Chain Industry

SCMDOJO

Companies with advanced supply chain practices excel in delivering quality third-party logistics management, SKU optimization, efficient transport management, and swift handling of B2B/B2C shipments. Supply Chain Planning as a Service has emerged as a game-changer, enabling companies to efficiently outsource non-core activities.