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Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
Rising software costs, lack of procurement oversight, compliance headaches, and clunky vendor management. Many organizations are discovering that without clear procurement software best practices, costs spiral, risks multiply, and efficiency stalls. Key Takeaways What is Procurement Software – and why is it important?
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. This blog explores the most common challenges in digital procurement and the capabilities that matter most.
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. AI, automation, and generative tools are redefining efficiency, allowing procurement teams to move from reactive to proactive decision-making.
Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. Procurement vs. Purchasing: What’s the Difference? What is Procurement?
In our previous posts ( part 1 , part 2 ), we explored the potential of AI agents in procurement, how they can drive efficiency, and the organizational changes required to adopt them effectively. A unified procurement platform ensures that agents function as part of an integrated system.
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys. Approval lead time is another important metric.
We introduced our series on aligning finance and procurement for cash flow optimization and liquidity in this Executive Summary. We then outlined the components of Phase 1: Understanding the Foundations , looking at the differing priorities of finance and procurement and how they might be aligned.
Finance and procurement play critical roles in shaping an organizations financial health and operational efficiency. This series shapes a five-phase approach to aligning finance and procurement. Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration.
This article serves as the executive summary of a six-part series built for finance and procurement leaders aiming to strengthen their organizations cash flow management and liquidity position. Procurement, meanwhile, works to strengthen supplier relationships, capture discounts and reduce total procurement costs.
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. The success of the Procurement team at Utz Brands, Inc.,
Its increasingly evident: GenAI is no longer a future concept; its already reshaping operations in realtime. Yet within many procurement functions, a fundamental question persists: Are we truly prepared to lead in this AI-powered future? To address this shift, ProcureAbility has partnered with dSilo.AI
We introduced our series on aligning finance and procurement for cash flow optimization and liquidity. We then outlined the differing priorities of finance and procurement and how they might be aligned and identified misalignments between finance and procurement. Step 1: Define the problem Why does the misalignment matter?
In the Executive Summary to this use case series on aligning finance and procurement for cash flow optimization and liquidity we examined five phases that help organizations break down silos, align priorities and build the operational and technological capabilities needed to manage cash more effectively.
For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses. And they are testing the limits of procurements preparedness. This makes visibility the cornerstone of any viable tariff management strategy.
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.
Like it or not, Procurement and Supply teams are in the midst of a digital revolution that looks set only to advance. So whats the challenge for Procurement, and why is it tougher for Procurement than many other functions (like HR or Finance) to make tech work for them? Time and resources can also be a stopping point.
Businesses must find effective ways to strengthen their networks and improve flexibility to maintain stability during uncertain times. In supply chain operations, it plays a crucial role in mitigating risks, improving response times, and optimizing workflows. Enhance visibility across the supply chain through structured reports.
The world of procurement is constantly evolving, demanding professionals with the right skills and knowledge. Moreover, two popular options often considered are the MCIPS qualification from the Chartered Institute of Procurement & Supply (CIPS) and the Procurement Track offered by SCMDOJO.
How to gain visibility and control of your indirect spend. 4][5] Supplier Portals Enhance Collaboration: Digital supplier portals are now in use across 35% of procurement platforms. 4][5] Supplier Portals Enhance Collaboration: Digital supplier portals are now in use across 35% of procurement platforms.
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter Integrated Logistics — What You Should Know Integrated logistics is gaining popularity throughout the years to the point of replacing the traditional logistics concepts. However, what is it?
Digital procurement tools offer both immediate benefits and long-term returns. While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. As a result of better data, procurement teams gain a whole range of benefits.
Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.
Procurement Priorities for 2025 and Beyond The manufacturing industry is evolving rapidly, leaving Chief Procurement Officers (CPOs) grappling with challenges that could make or break their organizations. Amid economic uncertainties and geopolitical shifts, procurement leaders face mounting pressure to drive sustained growth.
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter Fourth Party Logistics — Everything You Should Know Fourth-party logistics (4PL) help businesses to optimize their entire chain. In this article, we will discuss what 4PL means.
If you live in a city, state or country, which everybody does, your life and the lives of your family and friends is impacted directly by Procurement. No, I’m not referring to the Procurement department of your company (although, if Ivalua has anything to do about it, there are lots of interesting things happening there too).
The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting. Helps businesses drive cost savings and mitigate procurement risks.
Procurement success in 2023 with our Strategy Course Download Course Details → Or receive our famous weekly newsletter What Are the Benefits of Having a Transport Management System? This will improve visibility and analytical capabilities, which will result in better decision-making.
This month Gartner published its eagerly awaited Magic Quadrant for Procure-to-Pay (P2P) Suites , ranking the top 14 vendors based on ability to execute and completeness of vision. This year’s edition comes at an interesting time, with the Covid-19 pandemic having shifted Procurement priorities and employee working practices.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter AI in Logistics — The Ultimate Guide Artificial intelligence is rapidly revolutionizing industries and logistics is not an exception. CERTIFICATE COURSES Related courses about this subject 1.
Difference Between Procure to Pay and eProcurement. Procure-to-Pay is the sequential process we described earlier. Eprocurement or e-procurement comes from electronic procurement. Cloud-based Procure to Pay platforms are a must-have for any company that wants to become best-class in P2P.
If youre in procurement or supply chain, chances are youve wondered: How can I rethink this process, make smarter decisions, and still save time? Procurement automation. But with procurement automation, things become faster, connected, and smarter. The growing answer among forward-thinking companies? Lets take a look.
It made me wonder if and how the C-Suite view of procurement has evolved over the past 14 years. Starting with the CFO, then the CIO, CEO, and The Board, here is the outline of changes in how top executives view procurement going forward in 2025. Analytics and insights from procurement data were minimal.
Using a procurement management system is one practical strategy to strengthen these connections. This comprehensive guide explores what procurement management software is, its key features, its role in vendor relations, its integration with business processes, and the benefits it offers.
The company saved 700 man-hours annually on admin and increases its share of certified suppliers by 20% Madrid, 13th May 2025 JAGGAER bolsters the digitalisation of procurement processes at Cosentino, a Spanish family-owned company with an international presence and a world leader in the production of surfaces for architecture and design.
51 ChatGPT Prompts to 10X Your Productivity in Procurement Download ChatGPT PDF Procurement Courses Or receive our famous weekly newsletter Last Mile Logistics — What You Should Know Last mile logistics is often associated with e-commerce due to its rising popularity in the modern market. CERTIFICATE COURSES 1.
Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. The powerful concept of Supply Chain Visibility lies at the core of resilience. Supply Chain Visibility refers to tracking and monitoring the movement of goods, services, and information throughout the supply chain.
The answer often lies in disconnected systems, manual workflows, and a lack of visibility between procurement and finance teams. Procure to pay automation addresses these issues by digitizing and streamlining the entire cycle, from to invoice payment. Once a purchase request is submitted, it enters an automated approval process.
Is your procurement process draining your budget? In many organizations, procurement is one of the largest areas of spendingbut its also where hidden savings often go unnoticed. This is why procurement cost reduction is not just an option; its a necessity. Why is Cost Reduction necessary in Procurement? The result?
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. This blog explores procurement vs supply chain strategy and looks at how aligning the two leads to operational excellence. It doesnt have to be that way.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Periodic Inventory System — Everything You Should Know Periodic inventory system is a method in accounting that is usually easier and more cost-effective. However, what is it?
ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. These indices track the average price changes of a basket of goods and services over time. Money buys less than before How should procurement manage inflation?
EDITOR’S NOTE: Chevron was IN NO WAY involved with the following assessment, although I think they will find it to be an interesting read because it leverages their known capabilities and aligns them with my prior research and discussions on procurement efficiency, Shared Services, and Hansens RAM principles.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Inventory Management — Everything You Should Know Inventory management enables companies to ensure that they always have enough stock to fulfill customer orders. However, what is it?
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