How to Build a Strong Supplier Relationship in Strategic Sourcing
Procurement Freelancers
NOVEMBER 26, 2023
Are you tired of the never-ending struggle with suppliers to meet your organization’s needs? Does…
how-to-build-a-strong-supplier-relationship-in-strategic-sourcing 
Spot the mistakes Strategic Sourcing Framework
Procurement Templates
MARCH 3, 2024
I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. By the way, when doing sourcing preparations it doesn’t mean that you can’t work on multiple parts at once and go back and forth before the tender is issued but there is a typical order.
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Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike
ivalua
FEBRUARY 10, 2023
Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy.
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Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience
ivalua
FEBRUARY 8, 2023
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Work to achieve 100% supply chain visibility.
Episode 101: Maximizing the Value of Strong Supplier Partnerships with Juli Lassow
Una
FEBRUARY 7, 2023
EPISODE 101 Maximizing the Value of Strong Supplier Partnerships with Juli Lassow By Kelly Barner | February 8, 2023 After all of the turbulence of the last few years, relationships between procurement and suppliers have reached a place of stability – at least for now.
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4 smart technologies modernizing sourcing strategy
IBM Supply Chain Blog
FEBRUARY 28, 2024
Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.
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Navigating the Procurement Business Processes: A Comprehensive Guide
World of Procurement blog
APRIL 24, 2024
Understanding the Procurement Process At its core, the procurement process is a strategic axis around which the efficiency, effectiveness, and ethical standards of a business revolve. This process encompasses all activities involved in sourcing, acquiring, and managing the resources necessary for an organization's operations.
The Art and Science of Buying Versus Procurement: Navigating the Nuances
World of Procurement blog
APRIL 24, 2024
It involves selecting a supplier and purchasing products that meet specific criteria such as price, quality, and delivery times. Procurement, however, is the broad orchestra conductor, encapsulating the strategic process of sourcing, negotiating, and managing the acquisition of goods and services essential for an organization's operations.
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CPO Spotlight: Nick Priest
Procurement Heads
DECEMBER 7, 2022
For the latest in Procurement Heads ‘ CPO Spotlight series, he spoke with James Dobbin about how he got into procurement, some of the trends he’s seeing in the financial and procurement space and whether the pandemic has pushed us closer to a cashless society. How did you get into procurement?
4 strategic sourcing use cases to strengthen your supply chain
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. For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one.
Procurement 101: Your Essential Guide to Strategic Sourcing
World of Procurement blog
MAY 8, 2024
Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.
Category Management in Procurement
NLPA (Next Level Purchasing Association)
FEBRUARY 29, 2024
In today’s dynamic business landscape, category management in procurement has become an essential weapon for procurement teams seeking to optimize spend, strengthen supplier relationships, and drive growth. It’s a strategic approach that goes beyond simply buying goods and services.
Procurement Best Practices You Should Know
World of Procurement blog
APRIL 23, 2024
By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. These policies should outline how procurement activities are to be conducted, from supplier selection to contract execution, ensuring consistency and compliance across the organization.
Procurement Best Practices You Should Know
World of Procurement blog
APRIL 23, 2024
By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. These policies should outline how procurement activities are to be conducted, from supplier selection to contract execution, ensuring consistency and compliance across the organization.
Is a career in procurement future-proof?
Procurement Heads
FEBRUARY 9, 2023
With advancements in automation and artificial intelligence, many industries are seeing a shift in how work is performed, and procurement is no exception. Today, procurement professionals play a key role in managing supplier relationships, reducing costs, and ensuring the quality of goods and services.
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DuPont CPO Gonzalez on geopolitical risks, building relationships and prioritising amid the polycrisis
Procurement Leaders
FEBRUARY 3, 2023
” Gonzalez spoke to Tim Burt, community advisor at Procurement Leaders, to shed light on the steps his organisation is taking to look after its employees, manage risk, as well as build the strong functional foundations and working relationships it needs to help steer the business through these treacherous times. .”
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When Procurement Bear Fruit
Procurement Templates
MARCH 6, 2024
They’re adept at building fruitful relationships with vendors while ensuring we get the juiciest deals. They’re all about fostering positive relationships and vibes in the office while still keeping a keen eye on the bottom line. When procurement bear fruit who are you within the fruit basket?
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Webinar Recap: Procurement 2022, Big Trends and Predictions
ivalua
JANUARY 31, 2022
Disruptions in global supply chains, labor market shortages, strong consumer demand. Disruptions in global supply chains, labor market shortages, strong consumer demand. The Criticality of the Supply Chain (and Suppliers). Building and maintaining supply chain resilience will be critical in a post-Covid-19 world.
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What is Supply Chain Management? A Guide to Success
SCMDOJO
APRIL 29, 2024
Are you interested in understanding how businesses effectively manage their supply chains? Look no further – this guide is here to help you grasp the fundamentals of supply chain management (SCM) and how it can lead to success.
CTA
ivalua
APRIL 27, 2023
The question is, how do you balance all three while maintaining continuous operations and generating revenue at the same time? She also explained how Ivalua was instrumental in making that happen. She also explained how Ivalua was instrumental in making that happen. Those are three hot topics in the enterprise today.
A Balancing Act: Drive Sustainability while Managing Cost and Risk
ivalua
APRIL 27, 2023
The question is, how do you balance all three while maintaining continuous operations and generating revenue at the same time? She also explained how Ivalua was instrumental in making that happen. Geopolitical manipulation on suppliers worldwide adds to the pressure. Those are three hot topics in the enterprise today.
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The Big Interview with Nathalie Adotevi
Procurement Heads
APRIL 26, 2023
How did you get into procurement? I found the unique role that procurement plays in being at the heart of a business’ strategy as well as at the very source of its operational performance really interesting. There is also a separate team that looks after sourcing, contracting and payment activities.
The Big Interview with Nathalie Adotevi
Procurement Heads
APRIL 26, 2023
How did you get into procurement? I found the unique role that procurement plays in being at the heart of a business’ strategy as well as at the very source of its operational performance really interesting. There is also a separate team that looks after sourcing, contracting and payment activities.
Unlocking Value Creation: The Evolving Role of Procurement
NLPA (Next Level Purchasing Association)
JANUARY 16, 2024
Procurement, traditionally focused on cost reduction, is undergoing a transformation to become a strategic driver of value creation for organizations. By working closely with suppliers to improve quality and efficiency, procurement can help your company deliver a superior product or service, ultimately driving sales growth.
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How to Build Procurement Influence – and Why it Matters
Una
MARCH 16, 2023
Pain Points in Procurement Series How to Build Procurement Influence and Why it Matters How to build procurement influence as a way to stay engaged with other business functions, drive value, and achieve more desirable outcomes. Hi, is that the procurement team? It’s Joe from logistics.
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How To Achieve Maximum Value With Supplier Relationship Management
Skill Dynamics
FEBRUARY 6, 2024
Supplier relationship management is a business strategy utilized by organizations to strategically build relationships with their suppliers that are mutually beneficial. The entire relationship needs to be considered from the point of view of growth.
Procurement Strategy Case Studies — 5 Insightful Examples
Procurement Tactics
DECEMBER 26, 2022
Setting the appropriate strategy in procurement is the first step to improving control and effectiveness of the overall procurement and sourcing activities. We will explore the problems that arise and how they have conquered them with their strategy. . 33 Procurement Interview Questions in 2023. Download Whitepaper →. .
Streamlining supply chain management: Strategies for the future
IBM Supply Chain Blog
FEBRUARY 19, 2024
Here’s how companies are using different strategies to address supply chain management and meet their business goals. Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics.
How to Implement a Strategic Sourcing Process
Una
OCTOBER 9, 2023
How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. Let’s get started.
Supply Chain Planning — The Ultimate Guide of 2022
Procurement Tactics
AUGUST 15, 2022
For this article, we will show you steps on how to create a successful supply chain plan. For this article, we will show you steps on how to create a successful supply chain plan. The supply plan involves sourcing or procuring raw materials, components, and other materials needed for production. First Name. Download Free PDF.
The Big Interview with Emma Giles
Procurement Heads
NOVEMBER 9, 2022
Could you tell us a bit about yourself, your background and how you got into procurement? We are, like many others, thinking hard about how we mature as an SRM team given the increasingly complex landscape we operate (and want to succeed) in as a business. What roles and responsibilities does Procurement/ SRM have within Allianz?
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Focusing Beyond Cost in Procurement
Una
MARCH 30, 2023
In episode 100 of The Sourcing Hero podcast, our host Kelly Barner reels off a list of not-so-flattering nicknames for procurement she’s encountered that would make any purchasing professional wince. That’s why we’re urging the profession to expand the focus beyond cost to unearth other sources of value.
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Supplier Motivation, A Key Component of Supplier Management
ivalua
APRIL 8, 2020
Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. This multi-channel strategy tailored to suppliers’ capabilities is what differentiates best-in-class from a peer group as a report from The Hackett Group reveals.
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Balancing Procurement’s Biggest Priorities in the Fast Lane
Una
JANUARY 24, 2024
Balancing Procurement's Biggest Priorities in the Fast Lane No matter the industry, Sourcing Heroes need to be adept at identifying and balancing procurement’s priorities to make the biggest impact.
What Makes a Supplier Strategic?
Una
JUNE 8, 2023
What Makes a Supplier Strategic? Explore what makes a supplier strategic, learn why it matters, and how you can get noticed by supplier partners that are critical to your business. What makes a supplier strategic - and why does it matter? The fact is that procurement teams can only do so much.
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Top 10 CEOs Who Have Had Roles in Supply Chain
SCMDOJO
JANUARY 30, 2023
From tech giants to manufacturing leaders, the top 10 CEOs in the supply chain industry have blazed a trail of success. Explore their stories and accomplishments, and be inspired to become an effective leader in your own right. Don’t forget! The Top 10 CEOs Who Have Worked As Supply Chain Professionals 1.
Procurement Synonyms: All The Words You Need to Know in 2023
SCMDOJO
SEPTEMBER 18, 2023
Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. Sourcing plays a crucial role in building strong supplier relationships and achieving cost-effectiveness in the supply chain.
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The AI Advantage: Unlocking New Value for Procurement Teams
World of Procurement blog
MAY 10, 2024
This frees up procurement professionals to focus on high-value strategic activities. Conducting market research : AI can scan the web to collect pricing information, identify potential suppliers, assess supplier reputations, and keep up-to-date with market and industry trends. This supports strategic sourcing efforts.
How to build a successful procurement strategy
IBM Supply Chain Blog
DECEMBER 13, 2023
It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. It should be a strategic roadmap that, when effectively designed and implemented, aligns with the mission of the organization and greatly contributes to its success.
Understanding the Role of a Procurement Manager
World of Procurement blog
APRIL 23, 2024
They ensure the company gets the best possible deals in terms of quality, cost, and delivery times by skilfully negotiating with suppliers and vendors. Supplier Management: Identifying, evaluating, and engaging suppliers. Building and maintaining strong relationships with vendors for long-term collaboration.
Understanding the Role of a Procurement Manager
World of Procurement blog
APRIL 23, 2024
They ensure the company gets the best possible deals in terms of quality, cost, and delivery times by skilfully negotiating with suppliers and vendors. Supplier Management: Identifying, evaluating, and engaging suppliers. Building and maintaining strong relationships with vendors for long-term collaboration.
Procurement-Specific Leadership Skills
Una
JULY 3, 2023
The hard-won skills that you’ve developed over the course of your procurement or supply management career will always be relevant, no matter how high you climb. They provide guidance on optimizing the sourcing process, enhancing supplier relationships, and leveraging procurement as a strategic function that adds value to the business.
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Why Local Sourcing Is The Best Way To Build Social License
Una
AUGUST 15, 2023
Why Local Sourcing Is The Best Way To Build Social License Tips for developing positive relationships with local stakeholders, accessing community resources, and fostering sustainability to build a strong social license. What is local sourcing - and why does it matter? What is social license?
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Procurement Managed Services Benefits
Barkers Procurement
OCTOBER 2, 2023
You have to build and maintain fruitful working relationships with your suppliers. You have to build and maintain fruitful working relationships with your suppliers. Below is a look at how a procurement managed service can transform your business. You have to comply with rules and regulations.
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