Thu.Sep 01, 2022

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Procurement vs. purchasing vs. sourcing differences

RPF360

When you’re buying for your business, what do you call it? It seems like an easy question, but there are a lot of terms that refer to this process. On the surface, they all seem to mean the same thing. Some call it procurement. Others say purchasing. And, still others call it sourcing. Knowing [.]. The post Procurement vs. purchasing vs. sourcing differences appeared first on RFP360.

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Interim Insight

Procurement Heads

What are the benefits of hiring an interim procurement professional? Interim procurement practitioners are predominately highly experienced individuals who have made a conscious decision to deliver project-based or programme-related outcomes. Due to their extensive knowledge and ability to ‘parachute’ into organisations at short notice, interim hires are an attractive offering for many businesses in need of immediate support.

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An Introduction to Contract Management: How does it Work?

ProcurePort

• If you’re looking for ways to manage spending and improve your profit base you cannot afford to overlook contract management. • You see, according to analysts from PricewaterhouseCoopers, effective contract management can save businesses up to 2% of their annual costs. And without an efficient contract management strategy, companies stand to lose 9.2% of […].

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Head2Head with Peter Aves

Procurement Heads

Tell us a bit about your background. I am the Chief Finance and Operations Officer at Pool Re. I am now actually the longest-serving member of staff at Pool Re and have been here for 13 years. I am a chartered accountant, before joining Pool Re I had a number of roles, none of which were in insurance, I kind of fell into the role here. My main role here is primarily that of being a CFO, but one of the things I like about it here is that it is a fairly small business so we tend to have quite broa

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GEP Procurement & Supply Chain Tech Trends Report

The technological landscape is dynamic and changes quickly. And for procurement and supply chain leaders looking to harness the power of technology to navigate complex challenges and an uncertain business environment, keeping up with the latest trends can be its own obstacle. So, what’s on the technological horizon for procurement and supply chain for the year ahead?

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Best Buy Says Supply-Chain Strains Are Improving Heading Into Fall

Supply Chain Brain

Consumer-electronics retailer Best Buy added to the mounting signs of ample capacity and receding freight rates, with a note that transportation markets are “stabilizing and moderating” heading into the fall peak season.

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6 Reasons To Hire an IT Consulting Firm!

Supply Chain Game Changer

Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. Hiring a Software Development Team – Pros and Cons! Technology has undoubtedly revolutionized the way business is conducted. Every industry has seen transformative technological innovations that have enabled them to become more productive and efficient. As a result, the demand for information technology and IT consulting services has also increased. .

More Trending

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Amazon offers sellers long-term inventory storage with new service

Supply Chain Dive

Amazon Warehousing & Distribution allows the company to capture more value from its fulfillment network, which has grappled with excess capacity this year.

Inventory 101
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Without a Minute to Spare: Time-Sensitive Deliveries Just Got Faster

Supply Chain Brain

Challenge: An international building solutions provider needed a better way to deliver concrete to building sites. Avoiding delays and interruptions was essential as concrete is highly perishable with a shelf life of just 90 minutes.

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Essential Uses of Bitcoin!

Supply Chain Game Changer

Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. The Functioning of Bitcoin! It is OK to get confused and leave wondering about the use of Bitcoin. The winner of the digital currency should have the necessary element and careful hand and understand the essential uses of Bitcoin. The properties of unique Bitcoin are connected with the protocols, and without appealing reasons, nobody will invest in the currency which is not traditionally connected.

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Part Five: Top Trends and Challenges Shaping Procurement Leader Priorities

Supply Chain Brain

To navigate today’s dynamic environment, Procurement Leaders must isolate the trends impacting their function, unpack the challenges they pose, and prioritize the actions needed in response to shape their strategic plans now and into the future.

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Scaling Logistics for Success: A White Claw Story

Speaker: Scott Campbell and Molly Feller

As the demand for your products skyrockets 🚀, you're likely experiencing logistical challenges that are preventing you from scaling your business. The sudden surge in demand can be exciting, but it can also put a strain on your supply chain and logistics operations. In this webinar, join Scott Campbell, Vice President, Logistics & Demand at Mark Anthony Services and Molly Feller, VP Logistics as a Service Operations at e2open, as they explore the challenges that arise when companies expe

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How Online Marketing Has Changed the Game!

Supply Chain Game Changer

Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. Hiring a Digital Marketing Agency! Is it a Good Move? The entire world of business has changed forever and one of the featured and most notable changes has been the move online, including online marketing. Just a few decades ago it was only outbound and so-called traditional marketing techniques that were used by business to generate leads and build their brand among the general public and those who were interested in their p

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Bridgestone announces $550M plant expansion to meet demand for smart tires

Supply Chain Dive

The expansion will pave the way for the company to scale production of tires equipped with RFID tags.

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Top 5 Progressive Jackpot Slots to Play and Win!

Supply Chain Game Changer

Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. How to Start Playing Online Casinos! When slot machines initially became renowned, the winnings were in the shape of flavoured gum! Fruity fruits were employed instead of cash in the inaugural Fruit Slots! The most you can hope for is to get your favourite taste! Things have evolved tremendously over the centuries, and today’s highest rewards from internet slot games are in the eight-figure range, with progressive jackp

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The evolving role of procurement needs the latest technology to meet the demands of today’s working environment 

Spend Matters

Categories: Change Management , Procurement Strategy & Planning , Procurement Systems & Architecture , Purchasing Process , Solution Providers , Technology Tags: intake-to-procure , procurement strategy and planning , Procurement Systems and Architecture Over the past few years, CFOs have begun to view procurement teams as strategic partners that can move beyond filling orders and managing spend.

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Rethinking Direct Materials Sourcing: The Tools You Need To Manage Costs, Risks and Sustainability

Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions. While some embrace cutting-edge tools like AI and blockchain for global trade functions, others lag in technology adoption.

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How to Maximize Crypto Trading Gains!

Supply Chain Game Changer

Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. Tips for Professional Crypto Trading! Everybody has different ways of adopting the currency and making more than 300% profit. One of the beautiful lines that described the quality investor is to become innovative in trading to maximize crypto trading gains. It does not matter how intelligent a person is in trading.

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Risk Vendor Profiles (Part 4): Supplier management suites risk-monitoring solutions — Coupa, GEP, Ivalua, Jaggaer, Medius (Wax Digital), SAP Ariba, Zycus

Spend Matters

Categories: Analytics , Procurement Systems & Architecture , Risk Performance and Compliance , Solution Providers , Source to Pay , Supplier Risk and Compliance Management , Supply Chain Visibility , Supply Risk , Supply Risk Management , Technology Tags: PRO This Spend Matters PRO analysis is the fourth in our 7-part series on Risk technology solutions and services vendors, focusing on organizations' increasing need to manage and mitigate risk scenarios.

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Escaping a ‘Black Hole’ – a Microsoft Dynamics

Let's Talk Supply Chain

This tale of black holes isn’t science fiction; it’s the story of a real distributor who blasted off from an antiquated system of 12 physical clipboards on a wall to create a command-and-control center on a smartphone. The results? Out of this world. Pete first shared his story with me when I was considering coming aboard Cavallo as CEO. I wanted to explore the actual daily lives of the company’s customers.

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The Challenge of Multi-color Organization Models

The Good Spending

Seeking the source of consulting challenges. As a procurement consultant, I'm increasingly exposed to the IT software development industry. In my latest consultancy endeavors, I have realized that my traditional views, actionable advice, and best-practice tools aren't working efficiently enough. (I believe) it's not because I'm orthodox - my background and skills are diverse enough to offer variable solutions.

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Supply Chain Orchestration: A New Era in Supply Chain Management

When the only certainty is uncertainty, what does that mean for today’s supply chain management approaches? This eBook delves into how supply chain orchestration can help businesses unlock agility, transparency, intelligence, and trust across their end-to-end supply chain.

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Why we should all get behind remanufacturing and reduce e-waste

Value Match

Categories. Best Practice Guides. Bid Management. Business. Case Study. Circular Economy. Community Story. Contract for Change. Environment and Climate. Equality and Inclusion. Government Buying Standards. House of Commons Committee of Public Accounts. Human Rights and Modern Slavery. Legislation. National Audit Office Reports. News. Procurement Best Practice.

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Procurement in 5-Minutes: How do you measure procurement success at a small company versus a large company?

Sourcing Solved

Procurement in 5-Minutes. We live and work in a busy world in which there is little time to read, watch or listen beyond the headlines. Hello, my name is Iain Campbell-McKenna, and this is “Procurement in 5-minutes.” That’s right, in 5-minutes I promise to tackle some of the biggest challenges and deepest questions our profession and industry face on a day-to-day basis.

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Perpetual Inventory vs. Physical Inventory: What Are the Major Differences?

Finale Inventory

Perpetual inventory systems and physical inventory systems attempt to keep businesses organized and provide them with data that can help them make accurate decisions and know the correct amount of available inventory. However, these different types of inventory systems achieve these goals through different means. What Is Perpetual Inventory? Perpetual inventory systems are methods of inventory management that keep track of inventory in real-time.

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Takeaways from NIGP Annual Forum 2022

Bonfire

Innovations shaping our future—that was the theme of this year’s NIGP Annual Forum hosted in Boston from August 21st to 24th. Getting together to share knowledge and experiences while tackling new challenges is something so fundamental to public procurement and we love to see the collaboration and passion for the profession at these events. This year, we’re celebrating the (usually unsung) superheroes in public procurement and, between our booth and the events we hosted, we were able to truly sh

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GEP Outlook Report 2024

Procurement and supply chain leaders have faced their share of disruption and economic turmoil these past four years. Whether from geopolitical tensions or the havoc caused by the pandemic and its aftershocks, plenty of challenges remain. Despite this, leaders are seeing a glimmer of light at the end of the tunnel — inflation is decreasing, interest rates are leveling off and supply chain volatility is easing.

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Making Decisions with Speed and Confidence: An Interview with Jakob Manz from Archlet

Art of Procurement

Philip Ideson recently interviewed Jakob Manz. Co-Founder and Managing Director at Archlet, as part of our ongoing Startup & Growth. The post Making Decisions with Speed and Confidence: An Interview with Jakob Manz from Archlet appeared first on Art of Procurement.

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Digital Readiness: How To Build A Digital Culture That Embraces The Future Rather Than Fears It

Procurement Insights

Editor’s Note: The following is a repost of the September 1st article I wrote for the Market Dojo blog. A few years ago, I remember having breakfast with Duncan Jones at a Virginia conference in which he shared an interesting story with me. Early in his career – pre-Forrester, I believe, he was working on a project to upgrade a company’s tech capability that would drive greater efficiency and increased savings.

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Better Together - Building Long-Term Capacity and Resilience in the Food Industry Supply Chain at the 2022 FMI Supply Chain Forum

Supply Chain Brain

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The True Cost of Shipping Damages

The Network Effect

The post The True Cost of Shipping Damages appeared first on The Network Effect.

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How to Create a Blueprint for Fleet Resilience

Speaker: Jeff Dickinson - President and CEO of Railgistixs Transport, Supply Chain and Logistics Thought Leader

Despite the ongoing transformation of the supply chain and logistics landscape, the steadfast importance of carrier safety remains a core principle. From prioritizing preventative maintenance to optimizing fleet utilization, the fundamentals persist. If you’re overlooking and neglecting essential safety precautions today, this could result in expensive repairs and potential safety hazards in the future. 🚧 Join Jeff Dickinson for a conversation on how to mitigate risk, enforce compliance,

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Three Ideas to Challenge Your Thinking About Digital Procurement

HICX

By Anthony Payne, CMO of HICX. Nearly every company is involved in some form of digital procurement transformation. But how many are actually seeing it pay off? . According to research by Bain & Company , only 8% of global companies have been able to achieve their targeted outcomes from digital technology investments. The same is true in the procurement function, where many leaders are still struggling to deliver enough value from costly digital plans.

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Luc Broussaud, CPO Signify to Speak at DPW Amsterdam 2022 alongside JAGGAER and riskmethods

Jaggaer

The post Luc Broussaud, CPO Signify to Speak at DPW Amsterdam 2022 alongside JAGGAER and riskmethods appeared first on JAGGAER.

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Why Players Like Retro Slots!

Supply Chain Game Changer

Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. 6 Benefits of Playing Free No Download Slot Machines! Aside from researching the best minimum deposit casinos , another important thing you may be interested in is the Retro Slots. As basic slot machine variants, the online Retro Slots today work on simple 3-reel structures. The detail does not end there as there is more about them.

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How Do GPOs Make Money?

Una

What's a GPO and How Do GPOs Make Money? By Mackenzie Oakley | September 1, 2022. Group purchasing remains one of procurement’s best-kept secrets. Not because the concept is new, but because inaccurate, preconceived notions surrounding the concept of group purchasing still exist in the sourcing world today. Some procurement professionals are concerned that a group purchasing organization , or GPO, won’t be able to accommodate their unique requirements.

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GEP Spend Category Outlook 2024

Your Roadmap to Smarter Spend Management in 2024 Geopolitical, economic and supply chain challenges will stick around in 2024, but don’t despair. There are strategic opportunities to leverage AI-powered technology and digital toolsets to overcome these hurdles more effectively. GEP experts in nearly two dozen critical categories guide you in the right direction in our annual comprehensive resource — GEP Spend Category Outlook 2024.