Procurement Tactics

JUNE 7, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Price Variance — Everything You Should Know Purchase price variance is an important factor for budget preparation, but why? Price Purchase Variance: What is it?

Price 130

Price Purchasing Raw materials Negotiation 130

Procurement Express

MARCH 9, 2025

If you’re managing inventory for your own business or juggling multiple ecommerce accounts, keeping track of purchase orders and stock levels shouldnt feel like a full-time job. Throughout the year, they purchase an additional $10,000 worth of cookies. Thats where QuickBooks Online comes in. Lets dive in.

Purchasing 52

Purchasing Inventory Purchase orders Management 52

Procurement Tactics

JUNE 8, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Order vs Invoice — 7 Key Differences Purchase orders and invoices may be hard to differentiate, especially if you are new in the procurement industry. What is a Purchase Order?

Purchase orders 130

Purchase orders Purchasing Buyers Quantity 130

TYA Suite

MAY 3, 2025

Ever confused purchase orders with sales orders? Youre not alonemany businesses mix up these two important documents, leading to costly mistakes. In any business, whether you're buying goods or selling them, it's essential to understand how purchase orders (POs) and sales orders (SOs) work.

Purchase orders 40

Purchase orders Purchasing Buyers Quantity 40

Procurement Express

DECEMBER 24, 2024

Purchase control is one of those things that feels small until its not. Purchasing is about getting the right stuff at the right time from the right suppliers for a fair price without blowing up your budget or your supplier relationships. How much time is your team wasting on the purchase order process? Maximize cost savings.

Purchasing 40

Purchasing Purchase orders supply chain budgeting Budget 40

ProcurePort

DECEMBER 7, 2023

Three-Way Matching Overview – Three-way matching involves comparing purchase orders, invoices, and receiving reports to ensure accuracy in quantities, prices, and terms. Challenges and Best Practices: – Challenges include […] The post What Is Three-Way Matching & Why Is It Important?

Import 130

Import Vendor relationships Purchase orders Quantity 130

TYA Suite

MAY 3, 2025

Back then, businesses relied on paper purchase ordersphysical forms filled out by hand, signed, mailed, or faxed to suppliers. Today, digital purchase order are part of a larger trend toward automation, integrating with accounting software, inventory systems, and analytics tools to create smarter, more efficient supply chains.

Purchase orders 40

Purchase orders Purchasing Supply Chain Efficiency supply chain budgeting 40

TYA Suite

MAY 13, 2025

is the process of lowering the total amount a business spends on purchasing goods and serviceswithout affecting quality or performance.Its not just about choosing the cheapest option. is important because it directly affects a companys profits, cash flow, and overall growth. Why is Cost Reduction necessary in Procurement?

Strategy 40

Strategy Import Procurement Raw materials 40

Spend Matters

JANUARY 8, 2025

Zip is therefore meant to be the place to initiate a purchase or vendor request through a flexible, configurable intake that requires no code to change and to support communication and approvals to ensure that the need is clearly understood and all sign-offs are obtained.

Market analysis 113

Market analysis Procurement team Sourcing Buyers 113

TYA Suite

APRIL 13, 2025

Every business, big or small, relies on purchasing goods and services to keep operations running smoothly. But without a clear system to manage these purchases, things can quickly spiral into A mess delays, overspending, or even errors. What is a Purchase Order Approval Workflow? unauthorized vendors or overspending). :

Purchase orders 40

Purchase orders Purchasing Real-time Visibility Budget 40

Spend Matters

SEPTEMBER 26, 2023

Forty years ago, the Harvard Business review published Peter Kraljic’s article ‘ Purchasing Must Become Supply Management ,’ which debuted the supplier segmenting method that we now know as the Kraljic matrix. The post Analyst eye on how purchasing must really become supply management appeared first on Spend Matters.

Purchasing 117

Purchasing Supply management Management Supply Chain Efficiency 117

Spend Matters

FEBRUARY 4, 2025

However, its important not to jump into new technology without first understanding your organization’s needs and conducting due diligence to ensure that the tools you roll out are flexible, scalable and capable of supporting long-term growth.

Procurement 105

Procurement Purchasing Negotiation Buying process 105

Procurement Insights

FEBRUARY 14, 2025

Given that off-contract procurement was at epidemic levels (which negatively impacted the buying organization and an increasingly skeptical supply base), it was essential to lessen rather than increase the purchasing cycle time.

Networking 59

Networking Import Procurement Buyers 59

TYA Suite

APRIL 13, 2025

What is compared in AP 3-way matching To do this, three important documents are compared: A purchase order is a document that a company sends to a supplier when they want to buy something. A list of items or services being purchased. The delivery matches what was requested in the purchase order. The price of each item.

Import 40

Import Purchase orders Quantity Purchasing 40

Procurement Tactics

SEPTEMBER 8, 2022

Some referred to it as MRO purchasing which pertains to maintenance, repair, and operations due to its significance to keep the business running. . You may think that this is the same as tactical purchasing. However, it is not true due to the fact that tactical purchasing is focused on short-term transactional activity.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

Spend Matters

FEBRUARY 26, 2025

During one breakout session, Gideon Davis (Administrator, Nevada State Purchasing Division of the Department of Administration), Anna Shpigel (Deputy Assistant Secretary, Massachusetts), and Rose Svitak (Manager, MMCAPs Knowledge and Financial Management Team) talked about the importance of aligning procurement and finance.

Procurement 119

Procurement Bidding Contract management Data 119

Procurement Tactics

MARCH 16, 2023

Additionally, we will talk about the importance and how you can implement strategic procurement. It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. Why is it important? In this article, we will discuss what strategic procurement is.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

ivalua

JANUARY 13, 2021

. – Cost optimization which comes from two sources: first, the savings that are captured from purchasing through preferred suppliers and compliant channels, and second the lower cost of a more efficient purchasing process. This is important to maximize the adoption of the tool and eventually of the process.

Eprocurement 235

Eprocurement Real-time Visibility Purchase orders Budget 235

SCMDOJO

DECEMBER 29, 2024

Key takeaways Importance of Procurement Procurement vs. Purchasing Key Functions Departmental Structure Role Descriptions The blog emphasizes the significance of a well-structured procurement department with qualified personnel to achieve organizational objectives. Read In Detail About Procurement Department Here 2. and sustainability.

Supply Chain Efficiency 87

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 87

ivalua

MAY 30, 2023

It is an important part of the decision-making process and requires careful consideration of a wide range of factors, such as cost, quality, reliability, and delivery times. That’s why it’s important to analyze spend and successfully define/execute sourcing and supplier management strategies across all spend.

Eprocurement 49

Eprocurement Procurement Supply Chain Efficiency Supply chain resilience 49

Procurement Tactics

MAY 21, 2023

We will tell you its importance and the typical acquisitions that a business makes. Thus, you will be able to know the total cost of acquiring an asset and make informed decisions about your purchases. The actual cost will depend on various factors such as the purchase price, financing costs, taxes, and other expenses.

Negotiation 174

Negotiation Purchasing supply chain budgeting Procurement strategies 174

Supply Chain Brain

DECEMBER 30, 2024

When evaluating a potential supply partner, it can be helpful to step back and consider the fundamentals of procurement and their importance to your business.

Purchasing 98

Purchasing Procurement Import Supply 98

Procurement Templates

NOVEMBER 21, 2024

Analyze Total Cost of Ownership (TCO): Incorporate factors like lifecycle costs, maintenance, and disposal into purchasing decisions. Stay Updated on Regulations: Regularly review trade agreements, import/export rules, and labor laws. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g.,

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Procurement Tactics

NOVEMBER 27, 2022

We will discuss with you what green purchasing is and the challenges facing procurement professionals in green procurement. Responsible consumption and production of goods are seen as an important part of the strategy to reduce poverty, improve environmental quality, and bring economic growth. . What is Green Purchasing?

Procurement 191

Procurement Sustainability Purchasing Raw materials 191

Procurement Tactics

OCTOBER 18, 2022

Supplier relationship management software is a very important factor for procurement managers to strengthen their relationship with their suppliers. We will also tell you the reason why it is important to manage supplier relations in your business. . Supplier relationships are very important to every organization.

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

Procurement Tactics

NOVEMBER 29, 2022

We will tell you about MRO purchasing and MRO inventory management. As such, it can become a risky purchase as operations personnel may spend more than what the company needs to operate. . What is MRO Purchasing. MRO purchasing is an indirect spend of businesses that relates to maintenance, repair, and operations.

Procurement 168

Procurement Inventory Purchasing Procurement strategies 168

Procurement Tactics

MAY 18, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Invoice Approvals — The Ultimate Guide Invoice approvals allow you to only pay for what you purchased, which helps you to avoid overpayment. We will check its importance and how it works.

Purchase orders 172

Purchase orders Purchasing Negotiation Procurement strategies 172

Spend Matters

DECEMBER 11, 2024

Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.

Supply Chain Optimization 112

Supply Chain Optimization Management Supply Chain Efficiency Supply chain resilience 112

Procurement Tactics

APRIL 13, 2023

Thus, it is important for companies to ensure that their business operations, especially their procurement, do not negatively affect the environment. We will tell you the importance of a sustainable environment and the issues that revolve around it. We can also monitor and check if our purchases have any negative impact on the planet.

Sustainability 195

Sustainability Raw materials Procurement strategies Negotiation 195

Procurement Tactics

MAY 9, 2023

We will tell you how important it is in your procurement process. In procurement, invoice reconciliation refers to the process of checking the invoices received from a supplier with the purchase orders to verify if they match. During the reconciliation process, discrepancies between the purchase order and invoice are identified.

Purchase orders 182

Purchase orders Negotiation Purchasing Procurement strategies 182

Procurement Tactics

APRIL 17, 2023

As sustainability is a growing focus in many industries around the world, many businesses are integrating it, especially consumers who are demanding to know where the products they purchase come from. As a result, it future-proofs the company’s sustainable purchases and investments by integrating sustainable policies.

Sustainability 182

Sustainability Suppliers Influencing Purchasing 182

Spend Matters

OCTOBER 31, 2024

What is True ValueHub True ValueHub’s solution is an AI and cloud-based software that helps manufacturing companies achieve cost savings on purchased parts and assemblies in mechanical, electro-mechanical and electronics categories. Read also our interview: An Introduction to True ValueHub.

Buyers 117

Buyers Raw materials Networking Suppliers 117

ivalua

JANUARY 31, 2023

Through Ivalua’s EIC, emissions data can be imported from recognized third-party emissions data sources or directly from suppliers; the data is then combined with other information such as environmental risk scores, policies, published targets, or certifications.

Supply Chain Efficiency 246

Supply Chain Efficiency supply chain software solutions Supply chain Innovation 246

Procurement Tactics

APRIL 25, 2023

For this article, we will first discuss what sustainable procurement means and why it is important. Why is Sustainable Procurement Important? As consumers are becoming aware of their part in society, their concern about how their purchasing affects the environment is increasing. Don’t worry, we got you!

Sustainability 168

Sustainability Procurement Ethics Supply Chain Efficiency 168

Procurement Tactics

MARCH 17, 2023

Despite sanctions and banning the import and purchasing from the G7 countries, Urals oil prices maintain their stand in the market. Closed borders, limited production, importation, and exportation all add up to the piling factors of the Urals oil price fluctuation. But why is that? Why are Urals oil prices fluctuating?

Price 166

Price Export Demand Purchasing 166

Spend Matters

MARCH 27, 2025

Too often, she told us, while these transformations are led by technically proficient teams, they underestimate the importance of properly defining the project from a business perspective from the outset. So before drafting your specifications, its important to ask yourself: will this IT system truly improve and simplify users daily work?

Change management 120

Change management Data Import Project management 120

Procurement Tactics

JUNE 28, 2023

In this article, we are going to explore what procurement tracking is, its importance in business and the tools to be used when conducting it for its efficient execution. Procurement Tracking: Why is it Important? Purchase Orders Purchase orders are where the monitoring of the creation and approval of purchase orders comes in.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178