SCMDOJO

JUNE 6, 2023

Data analytics plays a central role in inventory optimization. It provides real-time visibility into stock levels, lead times, and demand patterns. Businesses can make precise forecast demand, identify obsolete inventory, and can use data analytics to make smart decisions about stock allocation and replenishment.

Supply Chain Optimization 72

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency supply chain software solutions 72

Arkestro

APRIL 25, 2023

The workforce shortage reached half a million this year , and many sectors continue to grapple with increased lead times, and volatile material costs. Housing construction has slowed significantly due to high interest rates, and prices of construction inputs increased 40.5% from February 2020 to August 2022.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing supply chain budgeting Real-time Visibility 52

Una

APRIL 23, 2024

Route optimization & logistics planning Cost savings, faster delivery times, and happier customers? By plugging into real-time data, machine learning algorithms do precisely that, optimizing transportation routes to minimize fuel consumption, reduce delivery delays, and improve logistics operations. Where do I sign?

Supply chain management 52

Supply chain management Supply chain management Supply Chain Optimization Supply Chain Efficiency 52

Arkestro

DECEMBER 12, 2022

Supply Chain Visibility. Supply chain visibility is another critical issue. Visibility provides regulatory and consumer assurance in the face of issues like counterfeiting. To combat these issues, health and pharma need supply chain visibility—all the way down the supply chain. Managing Supplier Relationships.

Real-time Visibility 52

Real-time Visibility Procurement e2e Raw materials 52

Spend Matters

DECEMBER 21, 2023

AI can help create greater efficiency and value across all source-to-pay processes, including spend analysis, opportunity identification, sourcing and contract management, category management, supply relationship management and risk management.

Procurement solutions 84

Procurement solutions Procurement e2e Real-time Visibility 84

Empowering CPO

JUNE 26, 2023

From data-driven decision making to real-time spend visibility, predictive analytics, supplier collaboration, intelligent automation, and data security, we will explore each trend in depth, shedding light on their significance and potential impact on businesses.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Collaboration 40

Spend Matters

JUNE 19, 2023

They also improve access to contract information and drive more effective and timely purchasing decisions through the re-use of information to create contract terms and notifications of when to take critical actions. Click to enlarge Contract Lifecycle Management plays a crucial role in organizational risk management.

Contract 89

Contract Management Negotiation Real-time Visibility 89

Arkestro

MARCH 27, 2024

Regardless of industry, procurement buyers fulfill their role by finding the best suppliers, negotiating contracts, and identifying the most cost-effective, timely procurement of goods. They also make strategic decisions that optimize value and minimize costs, all while mitigating risk and staying compliant. Bureau of Labor Statistics.

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

Planergy

JANUARY 19, 2024

How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Taking your time throughout the process ensures you get the best possible match. Taking your time throughout the process ensures you get the best possible match.

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

SCMDOJO

JULY 24, 2023

They can be businesses or individual consumers who expect their orders to be delivered in a timely manner and in good condition. Read More: Evolution of Supply Chain Management and Logistics ] Benefits of Contract Logistics Contract logistics offers several benefits to businesses looking to streamline their supply chain operations.

Contract 90

Contract Logistics Supply Chain Efficiency Supply Chain Optimization 90

Empowering CPO

JULY 17, 2023

Procurement teams are often confronted with issues such as maintaining cost control and visibility over spending, managing relationships with a diverse range of suppliers, staying compliant with a myriad of regulations, mitigating risks in the supply chain, and leveraging new technologies effectively. The result?

Procurement 52

Procurement Supply Chain Efficiency Real-time Visibility Supply Chain Optimization 52

Empowering CPO

JULY 17, 2023

Procurement teams are often confronted with issues such as maintaining cost control and visibility over spending, managing relationships with a diverse range of suppliers, staying compliant with a myriad of regulations, mitigating risks in the supply chain, and leveraging new technologies effectively. The result?

Procurement 40

Procurement Management Supply Chain Efficiency Real-time Visibility 40

Empowering CPO

JUNE 27, 2023

Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility. Data Integration and Visibility: Connecting disparate data sources, such as procurement systems, supplier databases, and financial records, to create a centralized and holistic view of procurement activities.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

Arkestro

MAY 30, 2022

Critical suppliers are deeply integrated with day-to-day operations, and it is the successful management of these suppliers that delivers a competitive advantage leading to greater business impact. Failure resulted in highly visible shortages, public scrutiny, and loss of life. The stakes couldn’t be higher. . Take the Next Step.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Real-time Visibility supply chain software solutions 52

Supply Chain Game Changer

AUGUST 3, 2021

The Coronavirus pandemic created a dramatic and highly visible disruption in that paradigm. When the pandemic winds down there is a very real danger that people will go back to doing, and viewing, things the way they were before the pandemic. Risk management is real. Who foresaw the Suez Canal blockage crisis?

Supply Chain Efficiency 119

Supply Chain Efficiency Supply chain e2e Real-time Visibility 119

IBM Supply Chain Blog

SEPTEMBER 15, 2023

In many of these cases, the outcome could be no assurance to limited assurance and then reasonable assurance over time. It is about accountability and driving comparability for real impact. Furthermore, companies would need to disclose the price and rationale for internal carbon prices.

Sustainability 80

Sustainability Real-time Visibility Data Risk 80

Empowering CPO

JULY 5, 2023

Integrating technology into procurement processes is not just about keeping up with the times; it’s about realizing the potential for enhanced efficiency, accuracy, transparency, and strategic decision-making. Benefits of Utilizing Managed Procurement Services Managed Procurement Services bring a host of benefits to businesses.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Real-time Visibility 52

Empowering CPO

JUNE 26, 2023

In the following sections of this guide, we will provide in-depth analysis, real-world examples, and actionable recommendations to empower healthcare organizations in their journey towards optimizing costs and improving patient care through effective spend analysis. Benefits of Implementing Spend Analysis in Healthcare A.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Empowering CPO

JULY 16, 2023

These services deliver crucial benefits, including cost reduction through strategic sourcing and volume pricing, enhanced supplier performance through rigorous selection and management, improved compliance to regulations, and minimized risk of supply chain disruptions.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Zycus Cognitive Procurement

FEBRUARY 2, 2022

Inefficient inventory management and wastage due to poor visibility into data. By turning their procurement teams into value providers, the organizations can ensure that they are providing quality services at a competitive price while improving efficiency across the board. Lack of compliance and accountability.

Real-time Visibility 40

Real-time Visibility Procurement Supply Chain Efficiency supply chain budgeting 40

Empowering CPO

JUNE 30, 2023

Introduction Have you ever wondered how much time, effort, and money your company spends on procurement? With today’s increasing business complexity and the pressure to do more with less, it’s time to explore how managed procurement services can transform your business. Allow us to introduce ourselves.

Management 40

Management Procurement Real-time Visibility Supply Chain Efficiency 40

Planergy

SEPTEMBER 20, 2023

How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Between booking flights, finding accommodations, and managing expenses, it’s easy to feel overwhelmed. How Do You Find a Corporate Travel Management App?

Management 52

Management Real-time Visibility Budget Spend management 52

Claritum

MAY 2, 2019

If your procurement team is spending over half their time on transactional activity, what opportunities are they missing? Price and Terms *. However, Procurement is also driving or a key player in: Environmental impact analysis (risk management). Ethical checks and assurances (risk management). Delivery *.

Real-time Visibility 44

Real-time Visibility Procurement Purchase orders Eprocurement 44

Empowering CPO

JULY 16, 2023

These services deliver crucial benefits, including cost reduction through strategic sourcing and volume pricing, enhanced supplier performance through rigorous selection and management, improved compliance to regulations, and minimized risk of supply chain disruptions.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Empowering CPO

JULY 2, 2023

In essence, it’s a critical business function that ensures the right goods and services are available at the right time, in the right quantities, at the right price. Real-World Examples of Companies Benefiting from These Services Several companies have experienced the transformative power of Managed Procurement Services.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Empowering CPO

JUNE 14, 2023

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

JUNE 16, 2023

This comprehensive visibility into an organization’s spend data is the cornerstone of strategic sourcing and purchasing decisions. By examining spending patterns and supplier pricing, organizations can identify opportunities for consolidation of spend, volume discounts, or renegotiation of contracts.

Import 52

Import Procurement Supply Chain Efficiency Real-time Visibility 52

Empowering CPO

MAY 8, 2023

Importance of Risk Management in Procurement Procurement plays a critical role in the success of any organization, as it involves acquiring goods and services necessary for business operations. Finally, we will provide practical tips for incorporating risk management best practices into your organization’s procurement process.

Risk management 52

Risk management Risk Procurement strategies Strategy 52

Empowering CPO

MAY 31, 2023

SRM is not a singular concept but is composed of several key components that each play a crucial role: Supplier Information Management: This involves the organized collection and processing of data about suppliers. It includes details like supplier capabilities, infrastructure, product or service range, pricing structures, and key contacts.

Supplier relationship management 52

Supplier relationship management Collaboration Suppliers Supply Chain Efficiency 52

Empowering CPO

JUNE 22, 2023

Risk Mitigation: Spend analysis can reveal dependencies on certain suppliers, leading to better risk management and more diversified supplier portfolios. Compliance Monitoring: It can help to ensure that purchasing activities are in line with company policies and regulations, reducing the risk of non-compliance.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

JUNE 20, 2023

By bringing this ‘long tail’ under management, companies can reduce maverick spending, negotiate better terms with suppliers, and ultimately unlock remarkable savings. Moreover, tail spend analysis can contribute to better risk management, improved compliance, and increased operational efficiency.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

Empowering CPO

JUNE 27, 2023

Here are some common hurdles faced by organizations: Lack of Visibility: Without a robust spend analysis solution, organizations often struggle to gain comprehensive visibility into their spending patterns. Mitigating Supplier Risks: Proactive supplier risk management is crucial for organizational success.

Real-time Visibility 40

Real-time Visibility Supply Chain Optimization Data Suppliers 40

Procurement Templates

JUNE 18, 2023

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. When consumers have more money to spend, they compete for limited goods, driving prices up. What is inflation?

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Supply Chain Game Changer

NOVEMBER 16, 2022

It helps bring predictability to Strategic Sourcing, automates Transactional Procurement (or P2P cycle), and enables proactive Supplier Risk Management. Collaborating with the suppliers without any systems would mean wasting time searching through voicemails, printed documents, and email threads to locate the needed information.

Supply Chain Efficiency 19

Supply Chain Efficiency Procurement Real-time Visibility Supply Chain Optimization 19

Empowering CPO

JUNE 16, 2023

Enhance Compliance: Spend Analysis helps ensure adherence to procurement policies and regulatory requirements, reducing the risk of non-compliance penalties. Risk Management: Spend Analysis can identify dependencies on certain suppliers, thereby helping to manage risks associated with supplier performance or market volatility.

Procurement 40

Procurement Data Real-time Visibility Procurement strategies 40

IBM Supply Chain Blog

APRIL 4, 2024

Conversely, it has a larger scope than task management, which deals with individual tasks, and project management, which handles one-time initiatives. By establishing standardized workflows and decision rules, BPM streamlines the claims process by reducing processing times and minimizing errors.

Real-time Visibility 60

Real-time Visibility Management e2e Supply Chain Efficiency 60

Procurement Software

MARCH 11, 2022

If you don’t know: exactly what you’re buying; from whom; and at what quantities and unit prices; then your business is at risk and you’re leaving cash on the table. No clear understanding of the extent of maverick spend – i.e. the % of total spend which is not being managed by a procurement professional.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Data Category management 52