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What Lieferkettengesetz Means for Procurement? The German SupplyChain Act, or Lieferkettengesetz, is a new piece of legislation that came into effect January 2023 with an extended remit from January 1, 2024. For procurement organizations, the German SupplyChain Act presents both challenges and opportunities.
The global supplychain landscape is undergoing significant transformations, influenced by rapid technological advancements, shifting consumer expectations, and the intricacies of international commerce. Conversely, a student who quickly grasps procurement strategies can be challenged with advanced case studies and leadership projects.
The past few years have been a boon for procurement, which has become increasingly strategic and critical to business. The pandemic has accelerated this trend, with the Procurement function front and center in the fight to ensure supplychain resilience and continuity, reduce costs and protect the bottom line.
33 Procurement Interview Questions in 2022. Sustainable SupplyChain — The Ultimate Guide. The sustainable supplychain is adopted by many companies due to the increasing pressure to demonstrate greater environmental and social responsibility. SupplyChain Sustainability: What is it? First Name.
It made me wonder if and how the C-Suite view of procurement has evolved over the past 14 years. Starting with the CFO, then the CIO, CEO, and The Board, here is the outline of changes in how top executives view procurement going forward in 2025. Analytics and insights from procurement data were minimal.
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter Procurement Managers — The Ultimate Guide Procurement managers are not easy, but the role is rewarding, interesting, and crucial to the success of a business. What is a Procurement Manager?
Procurement Strategy Take the lead with our proven 5-step procurement strategy 3. Sustainable Procurement Maintain high profitability while moving toward sustainability 4. What is Procurement Tracking? Procurement Tracking is the process of monitoring and managing procurement activities.
Consider this your business suddenly faces a major supplychain disruption. But the truth is, a fragile supplychain can make or break your companys success in today’s world. But the truth is, a fragile supplychain can make or break your companys success in today’s world. Vet thoroughly.
Managing a successful supplychain requires more than just ensuring products are delivered on time its about building strong, effective partnerships with your suppliers. This software enables companies to create more efficient and transparent relationships with their suppliers, improving the overall performance of their supplychain.
33 Procurement Interview Questions in 2023. Sustainable Procurement Analysis — The Ultimate Guide. Procurement analysis is used to collect and analyze data for businesses to gain insights and make informed decisions. In this article, we will discuss what sustainable procurement analysis is. Download Whitepaper →. .
A procurement playbook is a comprehensive document or set of guidelines that outlines the processes, procedures, best practices, and standards for managing procurement activities within an organization. It serves as a reference guide for procurement professionals and other stakeholders involved in purchasing goods and services.
33 Procurement Interview Questions in 2022. Sustainable SupplyChain Consulting — The Ultimate Guide. Sustainable supplychain consulting firms are hired by many big businesses to help them with their goals. In this article, we will discuss what sustainable supplychain consulting firms are.
The pandemic wreaked havoc on businesses and their supplychains, but even in these trying times, there’s a silver lining. The job of sourcing professionals is to understand the risk in the supplychain and manage it so they can react quickly when a problem occurs.” But cost reduction is no longer sufficient.
Below are the oldest procurement blogs identified from the web results, ranked by their earliest documented or implied launch date, with details on their content, longevity, and relevance to procurement professionals. Content: Covers procurement technology (e.g., organizational founding, industry presence).
The Manufacturing SupplyChain Journey through AI and Automation Manufacturing SupplyChains Explained The manufacturing supplychain comprises all the processes a business uses to turn raw materials and components into final products that are ready to be sold to customers, whether these are consumers or other businesses.
72% of procurement leaders say vendor data is scattered across tools, emails, and spreadsheets. This makes it hard for procurement teams to find what they need quickly, and even harder to manage vendors in a smooth, professional way. That is why an increasing number of firms are using Vendor Lifecycle Management Software.
Since reverse auctions focus heavily on price competitiveness, this can be easily done with sourcing software tools. This allows the procurement team to quickly identify the lowest or most favorable bid based on cost factors. There is still scope for the software to throw some of these factors into the assessment.
The process creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. In some categories it makes sense to conduct a competitive sourcing event, for example an online auction using eSourcing software.
Nearly a third (32%) of procurement teams concede to cutting corn ers with their sourcing criteria for suppliers to secure supply. 81% of procurement teams feel pressured by executive teams to respond more quickly and effectively to challenges such as inflation, disruptions, and shortages. Redwood, CA, 25 October, 2022.
33 Procurement Interview Questions in 2022. Procurement Function — Everything a Procurement Professional Should Know. The procurement function is one of the keys for a business to succeed. The global pandemic and the ongoing war between Russia and Ukraine have disrupted the supplychain. Procurement Today.
Choosing the best source for procurement and supplychain information and practical guidance depends on your organization’s needs, the type of advice you seek, and the stage of your procurement transformation. Jason Busch (Spend Matters) Strengths : Industry-specific expertise in procurement technologies.
In today’s complex global business environment, effective supplychain management (SCM) is crucial for maintaining a competitive advantage. Here’s how companies are using different strategies to address supplychain management and meet their business goals.
Modern Spend Management and Accounts Payable software. Download Free Copy Ultimate Guide to Procurement in Education: Tips for Schools & Academies Category Spend Management Written by Keith Murphy 16 min read Tags Education Procurement Last edited February 24, 2025 Download PDF IN THIS ARTICLE What is Procurement in Education?
Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.
This is where operational procurement proves its true value. But what exactly does procurement operations mean, and why is it so important? In this blog, well explore the true meaning of operational procurement, how it supports core business functions, and the impact it can have on overall performance.
Hansen’s agent-based model (ABM), notably implemented within Canada’s Department of National Defence (DND), has had a significant influence on the procurement industry by demonstrating the advantages of a people- and process-centric approach over traditional technology-led methods. within three months.
In 2024, blockchain technology is expected to transform various industries, and procurement is no exception. This insightful guide explores how blockchain is impacting , contributing to transparency, security, and efficiency across supplychains.
ESG Sustainability Reporting As procurement’s intelligent source-to-pay and supplier collaboration platform, JAGGAER One enables customers and stakeholders to achieve their environmental, social, and governance (ESG) objectives by simplifying, automating, and embedding sustainability principles directly into our softwaresolutions.
Secondly come eProcurement, SupplyChain Collaboration, Invoicing, and Payments. These four steps constitute the downstream procure-to-pay part of the process. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration.
How did you get into procurement? At university, I followed a few classes on procurement and supplychain, loved it and decided that was the career path I wanted to take. These two different sides of your brain that need to work to be good at procurement are what I really enjoy. Where do I start?
How did you get into procurement? At university, I followed a few classes on procurement and supplychain, loved it and decided that was the career path I wanted to take. These two different sides of your brain that need to work to be good at procurement are what I really enjoy. Where do I start?
Earth Day (April 22nd) is a celebration of commitment to creating a safer, healthier and cleaner world, making it a natural time to reflect on the power and value of sustainable procurement programs. Procurement at the pivot point. Clear steps to sustainable procurement. A quick look at the regulatory landscape.
Spend Matters is once again delighted to release the ‘ 50 Procurement Providers to Know ’ and ‘ 50 Procurement Providers to Watch ’ lists, announced at the SIG Global Executive Summit on October 17. Here’s how Onventis describes itself: “We are pioneers in cloud-based solutions, transforming purchasing and finance processes since 2000.
Subscribe to SupplyChain Game Changer. For many people who work in SupplyChain Management, or for those on the outside, it functions on the foundation of processes, formulae, and metrics. This is very much the core of SupplyChain education and certification as well. Subscribe Here! Email Address.
In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making.
At Spend Matters, it’s as important for us to get to know the requirements and opinions of the procurement community of practitioners as it is for us to understand the world of tech solutions and their providers. So it was good to see a nice mix of both presenting at Procurement Strategies and Innovation (PSI) last week.
Hansens agent-based Metaprise Model directly addresses the core concerns of Chief Procurement Officers (CPOs) by combining human-AI collaboration, real-time adaptability, and ecosystem-wide integration. Example: A global manufacturer unified JD Edwards, NetSuite, and IFS workflows using agents, reducing procurement cycle times by 35%.
Procurement transformation, although innovative and beneficial, often arises alongside a resistance to change, lack of skills and data issues within teams. As modern supplychains become larger and more intricate, strong procurement strategies are needed to minimize any risk and maximize growth and efficiency.
In this age of supplychain disruptions that hold the power to upend entire industries, strength and resilience across the entire value chain is no longer a nice-to-have—it’s a survival tactic. They also factor in how a strong partnership could reduce supplychain risk and advance sustainability.
Subscribe to SupplyChain Game Changer. SupplyChain Education and Certification – What’s Missing? The supplychain and logistics fields are among the fastest growing career fields. Subscribe Here! Email Address. Explore Jobs Within the Niche. What should you be ready to say?
The role of procurement extends beyond transactional activities. A procurement strategy allows an organization to navigate an increasingly complex global supplychain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. What is a procurement strategy?
Resources / Blog / How (and Why) Sustainability Became an Essential Part of Procurement Processes How (and Why) Sustainability Became an Essential Part of Procurement Processes In todays rapidly evolving procurement landscape, sustainability is no longer just a buzzword its a business necessity.
The preliminary run uses the RAM 4-Model Assessment tool to access the Procurement Insights proprietary archives and many cross-reference sources using my AI for AI platform. Regular auditing and bias mitigation are required to ensure fair and ethical results. Financial Justification Upfront Costs and ROI: AI solutions like Certa.ai
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