Procurement Software

MARCH 11, 2022

Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile. Many companies only acknowledge savings based on Purchase Price Variance , or PPV. This is usually measured against budget standard costs, which are based on last price paid or moving average price.

Procurement

Procurement Software

MARCH 11, 2022

Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile. Many companies only acknowledge savings based on Purchase Price Variance , or PPV. This is usually measured against budget standard costs, which are based on last price paid or moving average price.

Procurement

Planergy

JANUARY 19, 2023

This would mean that 70% of your spending is going toward one type of product—in this case, stationery—and 30% is being spent on other types of office supplies. Pareto Spend Analysis is an incredibly useful tool for optimizing supply chain management processes, reducing costs, and improving overall efficiency.

supply chain budgeting

World of Procurement blog

MAY 8, 2024

It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. In summary, procurement is a strategic function focused on maximizing value, reducing costs, and building competitive advantage.

Strategic sourcing

Pipefy

JANUARY 5, 2023

Businesses choose digital procurement because it reduces their dependence on spreadsheets and email threads, and because it standardizes their processes. It connects the procurement process to both new and legacy components of the existing tech stack, as well as any relevant apps and software tools. Benefits of digital procurement.

Procurement

Pipefy

AUGUST 1, 2023

In the past, that meant cutting facilities budgets or reigning in travel allowances. Business operations generally fall under the umbrella of one of the following categories: product management, supply chain, inventory, forecasting, scheduling, quality, or facilities planning. Operations are, after all, where the money is spent.

Strategy

Empowering CPO

JUNE 26, 2023

Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making. Supplier Collaboration: Spend analysis fosters collaboration with key suppliers.

supply chain budgeting

Procurement Software

JUNE 25, 2024

This approach ensures you’re securing the best possible deal, effectively reducing expenses and contributing to improved financial performance. Cost Reduction Cost reduction in procurement transcends mere price negotiations. Rather, it maintains it against potential increases.

Procurement

IBM Supply Chain Blog

APRIL 4, 2024

These include connecting different systems and software to streamline processes and improve data flow across the organization, for example human resource management (HRM) or customer relationship management (CRM) Human-centric BPM centers around human involvement, often where an approval process is required.

Real-time Visibility

Empowering CPO

JULY 2, 2023

This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reduce costs. It plays a vital role in ensuring smooth operational continuity by securing the required resources and managing the supply chain effectively.

Management

Pipefy

MAY 9, 2023

Supplier KPIs Suppliers, by definition, comprise a crucial link in your supply chain. This constitutes a high risk for shortages and bottlenecks; potential customers will take notice as was recently shown with the most recent supply chain disruptions. After all, your shortages are their problem, as well.

Procurement

Procurement Software

MARCH 11, 2022

What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. Eliminate maverick spend.

Spend management

Procurement Software

MARCH 11, 2022

What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. Eliminate maverick spend.

Spend management