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Coupa announced during its Inspire 2025 event that it has acquired Cirtuo, a provider of category management (CatMan) software. The move addresses a long-standing gap in many procurement technology offerings: helping teams define and manage procurement strategies, rather than just executing sourcing events.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. Done well, it can become a key driver of competitive advantage.
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.
In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supply chain risk management. Direct materials management is essential for aligning demand, supply and product objectives throughout the product lifecycle.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g.,
This Spend Matters Vendor Analysis gives an overview of LightSource, a sourcing solution built for direct materials. Procurement teams that manage direct materials sourcing continue to face persistent challenges, even as digital tools become more widely adopted. This content is for members only.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. S2P: Where to Start Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle.
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we spoke with Nick Francis, Chief Technology and Marketing Officer (CTMO) at Commercial Value Management specialist Brooklyn Solutions.
For global manufacturers, managing direct and indirect material spend can get very complicated very quickly. In response to these challenges, a leading heavy equipment manufacturer selected GEP to redesign its source-to-contract processes and implement a convergent data model to help manage procurement data across its multiple locations.
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we asked Austin Fuller, Director, Product Marketing at supply chain risk management specialist Exiger Have you witnessed a significant change of appetite for risk-related tech over recent years from your customer base? “Yes,
The modern procurement leader must manage risk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Procurement teams are spread thin and have to manage everything from basic sourcing to board-level ESG compliance. Procurement has long sought a strategic seat at the table.
As little as 10 years ago, we heard stories of pretty much indifference to risk: “supply risk management was young,” we heard, and “we didn’t worry too much about risk; we spent a very small percentage of our time on it.” But from my experience, each team does this very differently, with each using its own technology to manage risk.
This Spend Matters Vendor Analysis provides an overview of EffiGO and its source-to-pay (S2P) solution. These are supported through integrated platforms and systems which ensure processes are managed in an organized and effective platform. Different teams often use varied systems, creating silos and inefficiencies.
The high-tech and telecom sectors face a contract management crisis if the process isn’t managed properly. What can CPOs do to ease the contract management burden?
Thats why local SEO, or Search Engine Optimization, is critically important for any business operation, and Supply Chain Management is no exception. If you are looking for ways to improve your supply chain management performance, e.g., by cutting costs and saving time, you must consider leveraging local SEO.
Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. Strategic sourcing plays a critical role in this transformation, ensuring organizations secure the best value while mitigating risk.
Why stakeholder management matters in procurement digital transformation Stakeholder management is the foundation of any successful procurement digital transformation initiative. To understand why, lets look at the following parallel: Procurement professionals often discuss spend under management (SUM) as a key metric of success.
Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Savings can be cashable or non cashable i.e. cost avoidance.
A Fortune 500 CPG company partnered with GEP to improve end-to-end category management, optimize direct spend categories, and increase strategic focus on tail spend.
In a strategic dance of adaptation, household giant Clorox is contemplating a delicate tango of sourcing shifts to counterbalance the looming impact of a hefty $100 million tariff blow. This strategic evaluation involves meticulously analyzing sourcing alternatives and potential partnerships to navigate the evolving trade landscape.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
What is Source to Pay (S2P)? Yet in the case of source to pay, it is wholly justified. That said, many organizations, including large enterprises, may not think in terms of source to pay as an end-to-end process, if they think about it at all. Yet there are good reasons to do so. the public sector).
Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.
Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations? The paper highlights real-world examples and use cases that demonstrate generative AI's transformative effects on operational efficiency, risk management, and cost reduction.
In this Spend Matters Vendor Analysis we provide an overview of Onventis and its solution for source-to-pay (S2P). Source-to-pay solutions allow organizations to streamline how they manage their procurement lifecycle from start to finish. First, it is one of the few providers in the space that is fully focused on the mid-market.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Who Should Prioritize an S2P Digital Transformation?
To potential buyers CADDi Drawer is an innovative company that leverages cutting-edge AI technology to transform how manufacturing drawings and procurement data are managed. The post CADDi Drawer: Vendor Analysis Drawing management solution overview, competitors, user considerations, analyst summary appeared first on Spend Matters.
It's no secret that hiring for a senior management position is a tough task for recruiters, and remaining open to changes and seeking better ways to source candidates is critical. How to Source Talent. In this eBook, learn: The Discovery Processes.
Automation within the source-to-pay (S2P) cycle from sourcing to payment is redefining how businesses handle suppliers, contracts, quotes, and payments. What is Source-to-Pay (S2P)? Before we talk about making it smarter, its worth reviewing what the source-to-pay journey actually covers. Procurement automation.
As part of our theme this quarter on Procurement’s role and value in supply chain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways.
In this fast-paced economic landscape, the importance of strategic supplier relationship management cannot be overstated. Join us as we delve into the world of Supplier Relationship Management, unlocking the secrets to success in the face of tariff uncertainty.
One of the most effective strategies for building resilience is integrating project management into supply chain operations. A well-managed supply chain does not just survive crises it thrives in them. These include alternative sourcing strategies, backup transportation routes, and emergency inventory reserves.
Speaker: Fernando Penteado, CPSM - Supply Chain and Logistics Executive, Global Markets Expert, and International Speaker
Now, as a variety of disruptive events cause supply chain challenges, companies are contemplating bold moves to keep business moving, including moving sourcing and manufacturing closer to home markets and maintaining a larger reserve stock to help manage the fluctuations in supply and demand.
To potential buyers — True ValueHub can save category managers and buyers significant time and money by identifying new opportunities based on a deep analysis of costs and drivers. The traditional ways of driving cost savings with multiple RFQs, e-auctions, sourcing from low-cost countries are no longer very effective.
This meant that implementing one of the full end-to-end spend management suites was not feasible from a cost and change management perspective. Utzs Procurement team had never focused on influencing budget owners in the corporate services area to strategically source their categories. It has been a home run.
Ongoing training is important for procurement teams to keep up with the constantly evolving and advancing procurement tech and services landscape, specifically in niche areas such as category management, supplier management, negotiation and strategic sourcing and in the broader areas of change management and leadership.
The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. AI is the game-changer that allows procurement professionals to escape the cycle of transactional work and focus on what really moves the needle: strategic sourcing, supplier collaboration, and advanced analytics.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data.
Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. OECD Due Diligence Guidance (2011) covers responsible sourcing practices. Social media is a growing source of supplier information today that is used alongside or within some of these tools.
Change management isnt a sidekick in this story; its the star of the show. Low adoption rates: Technologies like e-sourcing have been available for years, yet adoption among companies sits at around 60%-70%. Driving change with effective change management strategies You dont need a digital strategy. Lets explore these aspects.
When you look behind the scenes of a global business operation, procurement strategy and supply chain management are usually top priorities, though theyre not always working in sync. The Role of Procurement & Supply Chain in Business Success Procurement and supply chain management play pivotal roles in how a business performs.
Many businesses start their contract management journey with a familiar friend: the humble spreadsheet. Lets face it, as your contract volume grows and the need for efficient tracking, reminders, and collaboration intensifies, those once-reliable spreadsheets can quickly become sources of frustration and strain.
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