World of Procurement blog

MAY 8, 2024

What is Procurement? Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. Scope : Procurement spans the entire process from identifying requirements to contract closure. Stakeholders : Procurement involves multiple internal stakeholders across the organization.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

ivalua

MAY 9, 2023

Ivalua Spend Management Insights [ivory-search] Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study May 9, 2023 | | Innovation by Alex Saric In today’s age of uncertainty, procurement departments are under tremendous pressure. The next two involve technology. The same applies internally.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Procurement Collaboration Supply Chain Efficiency 130

Procurement Software

APRIL 23, 2024

Spend analytics software would be the first tech investment I’d make in a greenfield Head of Procurement role. You have to know what you’re spending your money on before you can start to transform your procurement operations. To do this quickly and efficiently, spend analytics software is your best friend.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Supply Chain Efficiency supply chain budgeting 52

Spend Matters

FEBRUARY 13, 2024

Neither oral nor text-based conversational AI (also known as conversational user experience [CUX] and conversational interfaces [CUI] the latter of which include chatbots) is by no means new, despite the relatively recent prolific uptake by procurement solution vendors.

Supply Chain Efficiency 82

Supply Chain Efficiency supply chain software solutions Procurement Supply Chain Optimization 82

World of Procurement blog

MAY 8, 2024

Demand forecasting utilizes historical sales data, market trends, and customer insights to predict future demand. It involves the active streamlining and integration of key processes across purchasing, manufacturing, warehousing, and transportation. The ultimate goal of SCM is to reduce costs while satisfying customer demands.

Agile and Lean Supply Chain 40

Agile and Lean Supply Chain Supply chain management Supply chain management Supply Chain Optimization 40

IBM Supply Chain Blog

DECEMBER 20, 2023

A robust AI strategy will enable these organizations to navigate the complexities of integrating AI, adapt quickly to technological advancements and optimize their processes, operational efficiency and overall growth. Without an AI strategy, organizations risk missing out on the benefits AI can offer. What is an AI strategy?

Strategy 79

Strategy Ethics Supply Chain Efficiency Supply Chain Optimization 79

SCMDOJO

AUGUST 21, 2023

Beyond dance moves, they offer bite-sized insights for success, promising to elevate you above inefficiencies. As TikTok and influencers gain prominence, they’re reshaping consumer behavior and marketing. Discover the Top 10 TikTokers reshaping how you view supply chains.

Supply Chain Optimization 97

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain supply chain software solutions 97

Empowering CPO

JUNE 27, 2023

As a trusted provider of procurement services, our spend analysis offerings are designed to unlock the true potential of your business data, providing insights that can lead to transformative growth. This is where the power of spend analysis comes into play. This is a question we at EmpoweringCPO can help answer.

Real-time Visibility 52

Real-time Visibility Supply Chain Optimization Purchase orders Supply Chain Efficiency 52

Una

NOVEMBER 30, 2022

Value Creation Through Digital Transformation in Procurement. But COVID also revealed the growing value placed on the expertise of procurement professionals and a shifting company viewpoint from back-office worker bees to valued C-suite consultants. Prioritizing a digital procurement strategy to gain competitive advantage.

Procurement 97

Procurement Supply Chain Efficiency Supply Chain Optimization Supply chain 97

The Good Spending

MARCH 3, 2024

It all started in the attempt to understand the theoretical concept of servitization , i.e., the transformational shift from a product-centric to a service-centric business model and logic that we observe extensively in the area of IT procurement, in particular. This is where the main topic of this post resides.

Procurement 59

Procurement Sourcing Category management Procurement strategies 59

Procurement Heads

JUNE 6, 2023

Darron: I am Director of Orbis Procurement, which is a partnership of three local authorities, and as such am Director of Procurement for Surrey County Council, East Sussex County Council and Brighton and Hove City Council. I have been in procurement way too long, I stopped counting after 25 years!

Contract management 130

Contract management Contract Supply Chain Efficiency Procurement 130

Empowering CPO

FEBRUARY 1, 2024

Introduction In the ever-evolving landscape of procurement, organizations are realizing that strategic sourcing is not merely a process but a comprehensive approach that can redefine the trajectory of businesses. Our approach encompasses the development and implementation of cutting-edge procurement dashboards and tools.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Sustainability 40

Spend Matters

OCTOBER 26, 2023

The ascent of cost reduction and value creation as key focal points for the procurement professional is indisputable. The most direct avenue to addressing both aspects lies in enhancing the efficiency of procurement through dedicated source-to-pay and spend management platforms. It’s a strategy that can yield short-term gains.

Chief Procurement Officer 84

Chief Procurement Officer Procurement Spend management Strategy 84

Spend Matters

OCTOBER 24, 2023

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. Together, they manage an annual procurement volume exceeding $16 billion, engaging with more than 350,000 suppliers.”

Procurement solutions 87

Procurement solutions Supply Chain Efficiency Procurement supply chain software solutions 87

SCMDOJO

JULY 3, 2023

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. Do not worry!

Cost of ownership 79

Cost of ownership Procurement Category management supply chain software solutions 79

Empowering CPO

MAY 5, 2023

Embracing digital technologies has become a necessity for companies to streamline operations, improve customer experiences, and increase overall efficiency. Procurement’s Role in Driving Business Success Procurement, often viewed as a behind-the-scenes function, plays a critical role in a company’s success.

Supply Chain Efficiency 52

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

Empowering CPO

JANUARY 28, 2024

Introduction In the dynamic realm of procurement, organizations strive to not only meet their immediate needs but also to establish sustainable and cost-effective supply chains. By adopting this approach, organizations can strategically manage their procurement processes to achieve significant cost savings and operational efficiency.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Optimization 40

Empowering CPO

JUNE 16, 2023

One of the essential tools to gaining this understanding is a process known as spend analysis. Brief Overview of Spend Analysis Spend analysis is a process that involves collecting, cleansing, classifying, and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance.

Import 52

Import Procurement Supply Chain Efficiency Real-time Visibility 52

Empowering CPO

JUNE 27, 2023

Introduction Unleashing the Power of Spend Analysis for Procurement Success In the world of procurement, data is the key to unlocking strategic decision-making and maximizing cost savings. Spend analysis, the process of comprehensively evaluating an organization’s expenditures, plays a pivotal role in driving procurement success.

Procurement 52

Procurement Supply Chain Optimization Real-time Visibility Procurement strategies 52

IBM Supply Chain Blog

MARCH 8, 2023

We’ll now explore the approach IBM Consulting takes when embarking upon AI projects. IBM Consulting has capabilities in Foundation Models delivery at scale. IBM Consulting brings industry expertise to understand the regulatory constraints and how to derive value with AI by augmenting specific workflows.

Ethics 52

Ethics Data Innovation Business strategy 52

Spend Matters

NOVEMBER 6, 2023

Technological progress has revolutionized the business world, transforming industries and redefining work. For procurement professionals and solution providers, understanding the evolution of technology and its impact is crucial for staying competitive in the ever-changing market.

Procurement 110

Procurement Data Collaboration Purchasing 110

Procurement Software

MARCH 5, 2024

US procurement startups are killing it. It’s no surprise that in the home of big tech, Silicon Valley and seemingly endless VC investors, there’s a thriving and diverse procurement tech ecosystem. Let’s have a look at the who’s who in the American procurement startup space. Hot diggity dawg!

Real-time Visibility 52

Real-time Visibility supply chain software solutions Procurement Supply Chain Efficiency 52

Una

JUNE 13, 2023

How to Impress During a Procurement Job Interview Explore strategies candidates can use to bring their A-game to the table and impress the hiring managers during a procurement job interview. Below, we share some strategies that are sure to impress in a procurement job interview. Then, read it again.

Procurement 52

Procurement Management Ethics Negotiation 52

World of Procurement blog

MAY 8, 2024

The types of contracts that typically require robust management include: Procurement contracts - Agreements with suppliers and vendors for goods, services, and materials. Employment/freelancer contracts - Agreements with employees, contractors, and consultants. Many have law degrees or procurement training.

Contract management 52

Contract management Contract Management e2e 52

Una

JANUARY 9, 2023

Tail spend refers to an organization’s high-volume, low-value transactions that are typically unmanaged by the procurement team. Some procurement departments use the 80/20 Pareto principle to focus on the large (80 percent) clients and contracts where supposedly greater savings can be realized, choosing to ignore the smaller 20 percent.

Management 97

Management Spend management Purchasing Procurement team 97

Empowering CPO

JUNE 27, 2023

Introduction Overview of Spend Analysis and Its Significance in Procurement In today’s competitive business landscape, effective procurement strategies play a vital role in the success of organizations. One crucial aspect of procurement is gaining insights into spending patterns and optimizing expenditures.

Real-time Visibility 40

Real-time Visibility Supply Chain Optimization Data Suppliers 40

IBM Supply Chain Blog

JUNE 23, 2023

Your forward-looking, strategic CFO is driving AI efforts to enable proactive business insights across the enterprise, while streamlining business processes and optimizing financial performance. You may have also deployed the latest cloud-native innovations and improved your operating expenses in the process.

Data 55

Data Innovation Strategy Suppliers 55

Empowering CPO

JUNE 30, 2023

Introduction Welcome to another EmpoweringCPO blog post, where we strive to bring clarity and insight to the exciting world of procurement. Today, we delve into a topic that has been on our minds for quite some time – the prevalent misconceptions about managed procurement services.

Management 52

Management Procurement Procurement team Negotiation 52

Procurement Leaders

MARCH 22, 2023

Could you share a little bit of insight about your procurement team structure, strengths and challenges? Cyber is a huge and growing threat – what are you doing to mitigate the risk from a people, process and technology perspective? Three years ago, we finalised our structural transformation to a global category-focused team.

Supply Chain Efficiency 130

Supply Chain Efficiency Risk Supply chain Suppliers 130

Una

SEPTEMBER 22, 2022

Ultimate Guide to IT Procurement. A guide to IT procurement for navigating the complex IT sourcing process in a way that drives organizational efficiencies and improves your bottom line. Comprehensive Guide to IT Procurement. Procurement embodies purchasing across a wide range of categories. Who Owns IT Procurement?

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Empowering CPO

JUNE 27, 2023

Spend analysis is the process of systematically examining an organization’s procurement data to gain insights into its spending patterns, identify cost-saving opportunities, and enhance decision-making. Welcome to a world where spend analysis takes center stage. What is Spend Analysis?

Real-time Visibility 40

Real-time Visibility Data Quality Supply Chain Optimization 40

Planergy

DECEMBER 25, 2023

How to gain visibility and control of your indirect spend. It is the driving force behind financial decision-making, providing essential insights that guide strategic planning and budgeting. Using finance business intelligence data , their insights can directly impact a company’s bottom line and drive its strategic direction.

Real-time Visibility 52

Real-time Visibility Data Budget Strategic planning 52

Una

JULY 3, 2023

Procurement-Specific Leadership Skills Along with thorough understanding and experience, here are eight procurement-specific leadership skills that will make you a better leader. It doesn’t matter, they say, whether you’re a senior executive in a consultancy or a partner in a law firm – all you will need are generic skills.

Leadership 52

Leadership Procurement Ethics Supply Chain Optimization 52

Procurement Software

FEBRUARY 20, 2024

European procurement software startups are growing fast, and we’re constantly seeing new ones landing onto the scene. Lots of European procurement tech startups are still in early or growth phase. Lots of European procurement tech startups are still in early or growth phase. Procuretech in Europe is buzzing right now.

Supply Chain Efficiency 59

Supply Chain Efficiency supply chain software solutions Procurement Real-time Visibility 59

Empowering CPO

JUNE 20, 2023

In the realm of procurement, every corner of the spend landscape deserves attention, and an often overlooked area is the ‘tail spend’ A. These are often lower-value, infrequent purchases made off-contract, which can escape the radar of traditional procurement strategies due to their seemingly insignificant individual costs.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

Spend Matters

JANUARY 23, 2024

The distinction between traditional or mundane AI and GenAI remains blurry in the procurement industry as GenAI takes on a life of its own. It’s also worth remembering that some elements of GenAI have seen use in procurement and supply chain applications for years. AI existed for a long time before generative AI (GenAI) emerged.

Category management 63

Category management Data Procurement supply chain software solutions 63

Pipefy

AUGUST 10, 2023

This guide discusses the power and benefits of process intelligence, its implementation, examples, and future insights. Process mapping relies on teams of consultants tracking a process from beginning to end by closely monitoring the actions workers perform to complete the process. Reading recommendation: What Is Workflow Management?

Real-time Visibility 52

Real-time Visibility e2e Data Risk 52