Procurement Tactics

DECEMBER 21, 2022

After taking the time to read this article, you will have a deeper understanding of what supply chain collaboration is all about. Thus, allowing you to know if your decision is right when the time comes you are going to collaborate in the supply chain. . Enhanced ethical standards. Ultimate Supplier Plotting Checklist 2023.

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Collaboration Supply Chain Optimization Supply Chain Efficiency Supply chain 199

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. Sourcing and procurement professionals operating with a strategic sourcing mindset assess a supplier’s quality, reputation and service.

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Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 84

Empowering CPO

MAY 31, 2023

Introduction In today’s interconnected world of business, Supplier Relationship Management (SRM) stands as a pillar of success for organizations across the globe. It’s the concerted effort of strategically planning and managing all interactions with suppliers that supply any goods and/or services to an organization.

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Supplier relationship management Collaboration Suppliers Supply Chain Efficiency 52

Arkestro

MARCH 27, 2024

Regardless of industry, procurement buyers fulfill their role by finding the best suppliers, negotiating contracts, and identifying the most cost-effective, timely procurement of goods. The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing.

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Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

Spend Matters

MARCH 11, 2024

For our readers who couldn’t/didn’t attend, here are our own reflections based on the time we had ( if we missed you, apologies, but do reach out to us here to get your procurement tech solution in front of our analysts ). Supplier Master Files have changed, he said. So cleansing of SMFs is vital, even though it takes time.

Procurement strategies 93

Procurement strategies Innovation Strategy Procurement 93

ivalua

MAY 6, 2021

These include faster co-innovation with suppliers, working with sustainable and ethical suppliers and empowering employees — all of which will lead to increased business agility. . Smart software shifts from drilling down on existing data to alerting up, so managers can respond to events or trends in real time. .

supply chain software solutions 130

supply chain software solutions Procurement Agile and Lean Supply Chain Supply Chain Efficiency 130

Empowering CPO

FEBRUARY 11, 2024

Consulting firms like ours leverage cutting-edge tools and analytics to gain deep insights into market trends, supplier performance, and cost structures. Procurement market intelligence is a key pillar of it, providing organizations with real-time information on supplier capabilities, emerging trends, and potential risks.

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SCMDOJO

JUNE 6, 2023

Data analytics plays a central role in inventory optimization. It provides real-time visibility into stock levels, lead times, and demand patterns. Businesses can make precise forecast demand, identify obsolete inventory, and can use data analytics to make smart decisions about stock allocation and replenishment.

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Supply Chain Optimization supply chain budgeting Supply Chain Efficiency supply chain software solutions 72

Empowering CPO

JULY 3, 2023

These services often encompass a wide range of tasks, from supplier management and contract negotiation to spend analysis and process improvement. These methods often involve manual, time-consuming processes, a lack of transparency in supplier relationships, and difficulty in managing and analyzing large volumes of procurement data.

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Innovation Strategy Procurement Management 52

Let's Talk Supply Chain

MARCH 26, 2023

Today I’m joined by Blume Global , a market-leading, sustainability-focused software brand that is removing a huge $1 trillion of waste from the global supply chain, and making logistics processes more agile, dependable, and sustainable with innovative execution and visibility solutions.

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Real-time Visibility Agile and Lean Supply Chain Supply Chain Optimization supply chain software solutions 52

Empowering CPO

JUNE 26, 2023

By embracing these trends, businesses can unlock a world of opportunities, drive cost savings, enhance supplier relationships, and ultimately achieve procurement excellence. Procurement data encompasses a wide range of information, including historical spend, transaction details, contracts, supplier information, and market intelligence.

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Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Collaboration 40

Una

APRIL 27, 2023

Delaying procurement involvement can be problematic because it increases the risk of selecting a supplier that is non-compliant, carries reputational risk, or is poor value for money. In some cases, the entire purchase may need to be re-evaluated or renegotiated, leading to wasted time and resources. Then there’s the compliance angle.

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Procurement Real-time Visibility Purchasing Risk 98

Empowering CPO

MAY 5, 2023

It is responsible for managing the entire process of acquiring goods and services, from identifying suppliers to ensuring timely deliveries. In essence, procurement serves as the backbone of an organization’s supply chain, contributing to cost savings, risk management, and supplier relationship management.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain budgeting Procurement Real-time Visibility 52

Spend Matters

MARCH 25, 2024

Having led multiple projects to select and deploy technologies and worked both as a practitioner and a consultant, he knows the amount of time and effort procurement puts into finding a practical solution to help them run more efficiently, and that spurred his move to form iKinetiq. “A

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Procurement contracts Contract Procurement Negotiation 111

IBM Supply Chain Blog

MARCH 16, 2023

Furthermore, even a simple garment like a t-shirt can change hands multiple times, with raw materials coming from one supplier and other parts of the process like spinning, knitting and sewing each happening elsewhere. These incentives will require traceability and visibility to understand whether they are being faithfully executed.

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Supply Chain Efficiency Sustainability Raw materials Real-time Visibility 57

Procurement Heads

AUGUST 2, 2023

Additionally, it felt like the right time for a new challenge, as I had spent nearly 24 years with my previous employer. Increase in cyber-attacks hindering our supply chain which is a current real threat. I made the transition after having an in-depth conversation with John Murphy and other Executives of the company.

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Supply chain Real-time Visibility Sustainability Procurement strategies 130

Empowering CPO

JULY 5, 2023

However, procurement can also be complex, time-consuming, and fraught with challenges. These providers bring to the table a depth of experience, specialized knowledge, state-of-the-art technology, and a global network of suppliers to streamline and enhance your procurement processes. Do you need to improve supplier relationships?

Management 52

Management Procurement Real-time Visibility Ethics 52

Empowering CPO

JUNE 14, 2023

It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing. But, it’s far more than just buying.

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Innovation Procurement Supply Chain Efficiency Sustainability 52

IBM Supply Chain Blog

MARCH 13, 2023

A 2022 study by IBM’s Institute for Business Value found that the majority of CEOs surveyed were under intense pressure from investors to improve transparency around sustainability factors such as emissions, resource use, fair labor and ethical sourcing. “Look at how you can extend, enhance or augment your ERP.”

Supply Chain Efficiency 52

Supply Chain Efficiency Real-time Visibility Sustainability Supply Chain Optimization 52

Claritum

MAY 2, 2019

If your procurement team is spending over half their time on transactional activity, what opportunities are they missing? Perhaps, opportunities to drive profitability within your organisation; develop environmental or ethical initiatives; or engage with suppliers to develop stronger business relationships? Supplier Management.

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Real-time Visibility Procurement Purchase orders Eprocurement 44

Arkestro

AUGUST 15, 2022

With growing pressure on businesses worldwide, developing an effective ESG strategy for your organization ensures that all transactions with suppliers are conducted in a way that aligns with these principles. Governance is concerned with all-things business ethics and compliance. They can also manifest across the supply chain.

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Strategy Real-time Visibility Supply Chain Efficiency Suppliers 52

Empowering CPO

JUNE 27, 2023

By examining spending patterns across various categories, such as suppliers, departments, and geographies, businesses can uncover hidden opportunities for cost savings, mitigate risks, and enhance their overall procurement efficiency. Mitigating Supplier Risks: Proactive supplier risk management is crucial for organizational success.

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Real-time Visibility Supply Chain Optimization Data Suppliers 40

IBM Supply Chain Blog

NOVEMBER 3, 2022

If you haven’t been thinking about these questions, the time to start is now. Here are some reasons why sustainability is a differentiator that can increase revenue and profits: Differentiate your brand: Over the last 12 months , certain brand values have become more important when deciding to shop sustainably or ethically in some categories.

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Supply Chain Efficiency Sustainability Agile and Lean Supply Chain Supply Chain Optimization 115

Empowering CPO

JUNE 22, 2023

It not only helps businesses to reduce costs and increase efficiency, but also strengthens supplier relationships, and enhances value creation. Risk Mitigation: Spend analysis can reveal dependencies on certain suppliers, leading to better risk management and more diversified supplier portfolios.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Planergy

JULY 5, 2022

How to gain visibility and control of your indirect spend. Ethical Sustainability & Responsibility Procurement. Getting Started with Environmental, Social and Governance Practices ESG leadership begins with the top but it can’t stay there if you want to make a real impact. Cristian Maradiaga. King Ocean. Written by.

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Sustainability Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 52

Supply Chain Game Changer

JULY 3, 2019

But, as stakeholders in the future of tomorrow, we also have to be conscious about the necessary steps to realize sustainable impact, for real. So, what are the steps that need to be taken in businesses globally to make real sustainable impact? It’s created at our suppliers. Suppliers and partners.

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Sustainability Sourcing Supply Chain Efficiency Real-time Visibility 58

Procurement Heads

JULY 27, 2022

Many buyers who have started their careers in the last 15 years haven’t been exposed to some of the real challenges where the cost of what you buy can rise by 5-10% every year. Do you predict any trends in the next 3-5 years in the UK for businesses that perhaps use overseas suppliers?

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Buyers Sustainability Procurement Real-time Visibility 130

SCMDOJO

APRIL 24, 2024

Whether it will be worth it, only time will tell. The amplified visibility lets companies verify the authenticity and provenance of products, reduces the risk of counterfeiting, and helps ensure regulatory compliance. An expensive one, we dare say. Blockchain and supply chain transparency We can’t complete our list without blockchains.

Supply Chain Efficiency 57

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization supply chain budgeting 57

Supply Chain Opz

JANUARY 22, 2016

Thus, increased real-time visibility into shipments leads to more efficient throughput of goods and reduced logistics lead times. That would shorten hauling times, automate routes and scheduling, and make deliveries much more predictable. Connected devices can also support the warehouse worker (i.e.

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Supply Chain Efficiency supply chain software solutions Supply Chain Optimization Supply chain 49

HICX

SEPTEMBER 11, 2023

Table of Contents What is supplier risk management? What are the benefits of supplier risk management? What is supplier risk management? As organizations scale and increase in size, so too does the organization’s number of suppliers, which means there are more risks to be managed.

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Risk management Risk Suppliers Management 52

Empowering CPO

JUNE 27, 2023

This transformative practice enables organizations to delve deep into their purchasing data, gaining invaluable insights that can revolutionize their supplier relationship management (SRM) strategies. SRM encompasses various activities, including supplier selection, performance evaluation, contract negotiation, and collaborative innovation.

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Supplier relationship management Suppliers Management Negotiation 52

HICX

AUGUST 17, 2023

Table of Contents What is Supplier Performance Management? What are the benefits of Supplier Performance Management? What is Supplier Performance Management? Supplier Performance Management is an organized framework that evaluates, tracks and optimizes suppliers’ performance.

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Supply Chain Trend

DECEMBER 22, 2023

Intelligent IBP effectively combines human and machine strengths with good decision practices to consistently make timely, high-quality, horizon agnostic business decisions. I think it is time to update the IBP belief sytem to be more reflective of current times, technology & ways of working, and create a modern IBP vision.

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Supply Chain Efficiency Supply Chain Optimization Quality supply chain budgeting 78

Supply Chain Game Changer

JANUARY 8, 2020

There are huge opportunities, all along the chain, to make a real impact: to reduce waste, provide more visibility into where products come from, and make the system more sustainable. Howell outlines how consumers, suppliers and manufacturers all have a role to play. It’s what we do, as a profession.

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Supply Chain Efficiency Sustainability Supply chain Raw materials 41

ivalua

JUNE 1, 2022

Overall, their strategy must move toward data-driven decision-making to provide real-time information visibility. By bridging the gaps, Amrest could even start the tendering process earlier with a wider range of suppliers. Suppliers can support company growth as part of the Amrest procurement journey.

Real-time Visibility 130

Real-time Visibility Agile and Lean Supply Chain Supply Chain Efficiency Procurement 130

Empowering CPO

MAY 4, 2023

By effectively managing the purchasing process, companies can better control their expenditures and optimize their supply chain, ensuring the availability of the right products and services at the right time. Greater transparency: Real-time tracking of procurement activities allows for better monitoring and control of the entire process.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Empowering CPO

JUNE 27, 2023

It provides invaluable insights into spending patterns, supplier performance, and opportunities for cost optimization. Real-world success stories and case studies illustrating the significant impact of spend analysis on achieving tangible cost savings and procurement optimization.

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