How Payment Innovations can Improve Supplier Relationships & Working Capital
ivalua
OCTOBER 19, 2021
The post How Payment Innovations can Improve Supplier Relationships & Working Capital appeared first on Ivalua.
improve-supplier-relationships 
10 Strategies for improving supplier relationship management
Skill Dynamics
AUGUST 15, 2022
Strategic supplier relationship management (SRM) is a key factor for driving competitive advantage for multi-national organizations. These models require both parties to have the following characteristics: mutual respect, an understanding of the mutual benefits of the relationship, trust, fairness, and honesty.
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Five Steps to Improve Supplier Relationships and Reduce Operating Costs
Supply Chain Brain
FEBRUARY 22, 2024
The last few years have continued to reinforce the value of dependable supplier relationships, and timely payments are an important ingredient to the success of those relationships.
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10 Strategies for Improving Supplier Relationship Management (SRM)!
Supply Chain Game Changer
JULY 10, 2019
Supplier Collaboration is a Win-Win Strategy! Supplier Relationship Management (SRM) is the hallmark of the Modern Procurement Function. In this article we are providing our list of 10 strategies for effective Supplier Relationship Management: Understand and Accommodate Supplier Interest. Collaborate.
100 Day Plan
Procurement Templates
APRIL 15, 2024
Review Existing Processes: Analyze current procurement processes, systems, and documentation to identify strengths, weaknesses, and areas for improvement. Stage 3: Build Relationships Days 21-30 Supplier Engagement: Identify key suppliers and initiate relationship-building activities, including meetings and performance reviews.
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Supplier Collaboration Software — What You Should Know
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 Supplier Collaboration Software — What You Should Know The use of supplier collaboration software continues to rise as businesses grow and technology advances. However, what is it?
Spot the mistakes Strategic Sourcing Framework
Procurement Templates
MARCH 3, 2024
Market Research : Conducting research on available suppliers, products, and market trends is essential for making informed procurement decisions. This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation. Assess supplier performance, capabilities, reliability, and overall value delivered.
Advantages of Opting for Procurement Services
ProcurePort
OCTOBER 20, 2023
• Opting for procurement services offers cost savings through improved negotiations, volume discounts, and strategic sourcing, along with significant time efficiency gains and streamlined processes.
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Agile Methodology in Procurement: A Paradigm Shift in Supply Chain Management
ProcurePort
NOVEMBER 10, 2023
It promotes flexible sourcing and working closely with suppliers. It also involves adapting plans and constantly improving through feedback. Successful examples show that being flexible in procurement brings better responsiveness, smoother processes, and strong supplier relationships.
Thought leader: How to get early supplier involvement right
Procurement Leaders
MARCH 26, 2024
For many procurement and supply chain leaders, it is standard practice to involve suppliers early when developing new products and services. Moreover, Toyota, in particular, had set up ingenious systems for collaborative product development by delegating tasks to its closely connected suppliers – its supplier keiretsu.
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Implementing Strategic Sourcing Software: The Initial Steps
ProcurePort
MAY 10, 2023
• Improved Cost Efficiency: Strategic sourcing software enables businesses to analyze and optimize their procurement processes, resulting in significant cost reductions and improved supplier negotiation outcomes.
Ivalua Supports the Digitalization of Tchibo’s Indirect Purchasing Process with its Source-to-Contract Solution
ivalua
NOVEMBER 13, 2022
Additionally, a crucial part of the selection process was finding partners who shared values of customer centricity and quality, which are central to the company’s identity, to be able to build a long-standing relationship. About Ivalua. Ivalua is a leading provider of cloud-based Spend Management software.
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Supplier Integration — The Ultimate Guide of 2023
Procurement Tactics
JANUARY 2, 2023
Supplier Integration — The Ultimate Guide of 2023. Supplier integration enables a robust supply chain process. However, not many people know how to collaborate with their suppliers. . For this article, we will discuss what supplier integration is. So without further ado, let us now delve into supplier integration. .
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Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience
ivalua
FEBRUARY 8, 2023
The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures. As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these.
Key Features of Online Reverse Auction Software
ProcurePort
NOVEMBER 3, 2023
Streamlined procurement, improved supplier relationships, and data-driven decision-making for more efficient and effective sourcing. Cost savings and increased competition through real-time bidding and transparent processes. Online reverse auctions have emerged as a powerful tool in this regard.
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Strategic Procurement — Everything You Should Know
Procurement Tactics
MARCH 16, 2023
Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. Procurement Strategy This key element of strategic procurement is a long-term plan that ensures purchased goods and services from suppliers at the agreed terms, quality, and delivery time are cost-effective.
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Global Supply Chain — Everything About Supply Chain
Procurement Tactics
JUNE 5, 2023
Additionally, we will tell you some tips on how to improve your global supply chain. Thus, it will allow you to effectively implement the tips we shared with you in improving your global supply chain. Instead of importing labor and resources, they can outsource to countries where suppliers provide their services at a reduced cost.
Supplier Management — The Ultimate Guide of 2022
Procurement Tactics
AUGUST 16, 2022
Supplier Management — The Ultimate Guide of 2022. Supplier management is crucial for organizations that have many vendors or suppliers. They need to manage their supplier to maintain the relationship that they have built. For this article, we will discuss what supplier management is. Why is it Important?
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Unlocking Efficiency and Savings: The Benefits of E-Sourcing Tools in Procurement
ProcurePort
SEPTEMBER 27, 2023
Efficient procurement processes can lead to substantial cost savings, improved supplier relationships, and enhanced overall competitiveness. In today’s fast-paced business landscape, procurement plays a pivotal role in an organization’s success.
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A third of UK businesses extend payment terms over impact of rising energy costs, Brexit and COVID-19
ivalua
OCTOBER 20, 2022
59% of UK businesses say suppliers have ended relationships with them due to repeated late payments, while 67% fear late payments could trigger a global cashflow crisis. Additional key findings include: 62% of UK businesses say that paying suppliers late has significantly damaged relationships.
Managing Supply Chain Disruptions: U.S., U.K. Manufacturers Accelerate Procurement
ivalua
JULY 14, 2022
The right technology can help provide the transparency needed to better assess risk and contingency options, and improve the effectiveness and efficiency of collaboration with suppliers.”. Notably, 71% of procurement leaders say they’ve had a supplier take advantage of supply chain problems to unjustifiably increase prices.
How generative AI will revolutionize supply chain
IBM Supply Chain Blog
MAY 1, 2024
Inventory management Generative AI models can continuously generate optimized replenishment plans based on real-time demand signals, supplier lead times and inventory levels. AI-supported what-if modeling helps develop contingency plans such as inventory, supplier or distribution center reallocation.
Business Benefits of Deploying Supplier Performance Dashboard
ProcurePort
MARCH 10, 2022
Are you keen to improve your vendor supplier relationship but don’t know how? Supplier performance dashboards are the latest innovation when it comes to improving vendor monitoring and overall business performance. Tackling supply chain challenges in a digital world requires digital solutions.
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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.
How to Manage Supplier Risk and Performance in an Uncertain Global Economy
ivalua
SEPTEMBER 8, 2022
Most companies recognize that good supplier relationships are more than simply arm’s length transactions between opposing parties. A better way of looking at those relationships is as partnerships—albeit ones that require management and alignment of objectives first and foremost, but ultimately mutually beneficial relationships.
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Canopy: Vendor Analysis — SIM solution overview, competitors, user considerations, analyst summary
Spend Matters
MARCH 25, 2024
This Spend Matters Vendor Analysis gives an overview of Canopy, a supplier information management (SIM) solution that focuses on supplier data and due diligence. It is critical to ensure an organization knows the suppliers it works with, has all the required information on suppliers and that the information is up-to-date.
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Procurement Playbook
Procurement Templates
MARCH 7, 2024
Technology and tools: Recommendations for utilizing procurement software, e-procurement platforms, and other technologies to streamline processes, enhance efficiency, and improve transparency in procurement operations.
What is Supply Chain Management? A Guide to Success
SCMDOJO
APRIL 29, 2024
By streamlining processes, reducing costs, and improving customer satisfaction, companies can achieve higher profitability and sustainability. Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships.
Ivalua Recognized as A Leader in Supplier Value Management Platforms, Q1 2022 report
ivalua
MARCH 24, 2022
Redwood City, CA – March 24th, 2022 – Ivalua, a global leader in spend management, today announced that it has been named a leader in The Forrester Wave : Supplier Value Management Platforms, Q1 2022. In today’s dynamic and uncertain environment, strong supplier relationships are a key competitive advantage. About Ivalua.
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Unlocking Value Creation: The Evolving Role of Procurement
NLPA (Next Level Purchasing Association)
JANUARY 16, 2024
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. Building Strong Supplier Relationships : Strong relationships with key suppliers are essential for value creation.
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Moving Supplier Relationships from Transactional to Strategic
Una
APRIL 13, 2023
Pain Points in Procurement Series Moving Supplier Relationships from Transactional to Strategic Tips for shifting your supplier relationships from transactional to strategic in an effort produce more cost-saving ideas and value. Transactional versus strategic supplier relationships See the difference?
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Supplier Networks — The Ultimate Guide of 2022
Procurement Tactics
AUGUST 24, 2022
Supplier Networks — The Ultimate Guide of 2022. Supplier networks are important in the procurement industry to find your preferred supplier. In this article, we will discuss what supplier networks are. We will discuss its benefits and how you can improve it for your organization. . Improved contract terms.
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Eric Espinasse interview: ‘The more we depend on a supplier, the closer we need to be to them’
Procurement Leaders
DECEMBER 9, 2022
Here, CPO Eric Espinasse describes some of the strategies he has employed to manage the market volatility, from building up inventory to advanced segmentation and closer supplier relationships. The other core challenge we face is the time we have to spend on relationship management vs contract optimisation.
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Supplier Onboarding — The Ultimate Guide
Procurement Tactics
OCTOBER 17, 2022
Supplier Onboarding — The Ultimate Guide . Supplier onboarding in a company can start slowly as its complexity requires the collection of information carefully. In this article, we will discuss what supplier onboarding is. Once you are done reading this article, you will have an in-depth knowledge of supplier onboarding.
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Vendor Scorecards — Everything You Should Know
Procurement Tactics
MAY 24, 2023
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter Vendor Scorecards — Everything You Should Know Vendor scorecards simplify vendor management and are an important factor in monitoring supplier performance. However, what is it? What Are Vendor Scorecards?
Sustainability in Procurement: Strategies and Challenges
ivalua
AUGUST 21, 2022
Among these practices are supplier identification through sourcing, relationship management, and reporting. Strategies to Improve Sustainability in Procurement. 55% of our respondents cited collaboration with all stakeholders to set improvement goals as top strategy to improve sustainability.
Supplier Diversity: From Checking-the-Box to a C-Suite Strategy
ivalua
JANUARY 13, 2023
For the Government, supplier diversity programs are something procurement professionals in the United States (US) have accepted as a key element to their procurement success. Since their inception more than 50 years ago, supplier diversity programs have spread beyond public procurements. Supplier Diversity on the World Stage.
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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.
4 smart technologies modernizing sourcing strategy
IBM Supply Chain Blog
FEBRUARY 28, 2024
Because organizations with strategic sourcing mindsets look beyond price and cost savings-centered supplier selection initiatives. They instead focus on continuous improvement. Sourcing teams are automating processes like data analysis as well as supplier relationship management and transaction management.
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Effective Sourcing Processes within a Firm Can Improve Profits for the Firm
ProcurePort
MAY 26, 2022
The sourcing function ensures that the organization is getting its products from the most suitable suppliers. • If possible, the sourcing function should influence the supply market through engagement with suppliers for mutually beneficial relationships. • An effective sourcing strategy considers […].
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The Pivotal Role of Technology in Modern Procurement
World of Procurement blog
APRIL 23, 2024
This technology helps identify bottlenecks, optimize inventory levels, and improve supplier relationships. Spend Analysis Tools These tools collect and analyze procurement data, offering insights into spending patterns, supplier performance, and potential cost savings.
The Pivotal Role of Technology in Modern Procurement
World of Procurement blog
APRIL 23, 2024
This technology helps identify bottlenecks, optimize inventory levels, and improve supplier relationships. Spend Analysis Tools These tools collect and analyze procurement data, offering insights into spending patterns, supplier performance, and potential cost savings.
Ahlsell Digitizes Management of Trading Goods Suppliers with Ivalua
ivalua
AUGUST 17, 2021
Successful deployment of source-to-contract suite increases tail supplier management efficiency and optimizes overall process automation. Ahlsell was looking to optimize the management of large tail-end trading goods suppliers. The post Ahlsell Digitizes Management of Trading Goods Suppliers with Ivalua appeared first on Ivalua.
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