IBM Supply Chain Blog

FEBRUARY 28, 2024

Because organizations with strategic sourcing mindsets look beyond price and cost savings-centered supplier selection initiatives. They consider factors—like supplier performance or sustainability —that support long-term partnerships, advance business needs and increase purchasing power.

Sourcing 105

Sourcing Strategy Supply Chain Efficiency e2e 105

World of Procurement blog

APRIL 23, 2024

The procurement of materials is a vital process in supply chain management, involving the timely acquisition of high-quality goods and services at the most economical prices from reliable suppliers. Effective procurement strategies require a deep understanding of market trends, supplier landscapes, and the latest technologies.

Procurement 52

Procurement Inventory control supply chain budgeting Real-time Visibility 52

World of Procurement blog

APRIL 23, 2024

The procurement of materials is a vital process in supply chain management, involving the timely acquisition of high-quality goods and services at the most economical prices from reliable suppliers. Effective procurement strategies require a deep understanding of market trends, supplier landscapes, and the latest technologies.

Procurement 52

Procurement Inventory control supply chain budgeting Real-time Visibility 52

SCMDOJO

AUGUST 16, 2023

The company has implemented sophisticated barcode scanning and point-of-sale systems to collect real-time data from its stores. By employing these technologies, Walmart gains valuable insights into customer buying behavior, sales trends, and inventory levels.

Supply Chain Efficiency 74

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Supply chain 74

Procurement Heads

FEBRUARY 8, 2023

Currently, wholesale gas and electricity prices have been fixed for firms from October until March 2023, but the help is under review due to the cost. One of the common themes I’m hearing from large organisations is that they are finding a lack of visibility looking ahead for energy spend.

Real-time Visibility 130

Real-time Visibility Price Negotiation Sourcing 130

Let's Talk Supply Chain

AUGUST 28, 2022

Cargo Chief enables 3PLs and freight brokers to expand their carrier network, gain visibility into real-time pricing, and streamline their processes. And Hubtek is a tech-enabled talent and automation solutions provider for transportation companies across North America. Check out our other podcasts HERE.

Real-time Visibility 98

Real-time Visibility Price Collaboration Supply Chain Efficiency 98

IBM Supply Chain Blog

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Sourcing and procurement professionals operating with a strategic sourcing mindset assess a supplier’s quality, reputation and service.

Strategic sourcing 86

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 86

Supply Chain Game Changer

SEPTEMBER 22, 2022

Choosing suppliers. Getting the right amount of products at the right price. After that, a request for a proposal gets sent out to potential suppliers. Then, the suppliers submit their bids and the company decides which one to hire. Spend Visibility. Real-time Spend Tracking. Subscribe Here!

supply chain budgeting 101

supply chain budgeting Real-time Visibility supply chain software solutions Procurement 101

ivalua

JANUARY 13, 2021

– Spend control through real-time visibility into budget consumption, negotiated prices, preferred suppliers, engagement channels. – Process efficiency with reduced cycle times and considerably decreased errors or fraud opportunities. Rules and workflow engines automate this part for you.

Eprocurement 235

Eprocurement Real-time Visibility Purchase orders Budget 235

Procurement Tactics

JUNE 26, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Top 10 US Dropshipping Suppliers — Pricing & Reviews The US dropshipping market reached an estimated amount of $15.64 Top 10 US Dropshipping Suppliers Study Procurement Study Negotiations 1.

Price 195

Price Suppliers Negotiation Real-time Visibility 195

Procurement Software

APRIL 23, 2024

Located in Amsterdam, Netherlands, the company leverages advanced AI technologies to enhance procurement processes, focusing on efficiency and data visibility. Their platform is particularly noted for its capabilities in spend data classification, risk and opportunity identification, and supplier data enrichment.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Supply Chain Efficiency supply chain budgeting 52

Procurement Tactics

JUNE 19, 2023

Artificial intelligence is being used to automate routine and time-consuming work in warehouses such as packing and sorting of goods which helps to improve efficiency, reduce errors and costs. It is also used to improve the accuracy of demand forecasting, inventory management , and transportation planning.

Logistics 193

Logistics supply chain budgeting supply chain software solutions Real-time Visibility 193

ivalua

MARCH 27, 2023

The first and most visible element of this change are the emergence of Government tax networks or Continuous Transaction Controls (CTC) systems. Europe will join Latin America, India, China, and other countries already on the path to real-time tax collection. Instant invoice approval, no supplier inquiries, and no exceptions.

Procurement strategies 130

Procurement strategies Agile and Lean Supply Chain Real-time Visibility Networking 130

Procurement Tactics

MARCH 27, 2023

Although it always relates to demand and sales projections, forecasting can also be used to determine product pricing, lead times, labor needs, and more. The integration of AI into forecasting improves accuracy, saves more money, and helps businesses react to exceptions in real-time.

supply chain budgeting 192

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 192

Procurement Tactics

DECEMBER 21, 2022

After taking the time to read this article, you will have a deeper understanding of what supply chain collaboration is all about. Thus, allowing you to know if your decision is right when the time comes you are going to collaborate in the supply chain. . Ultimate Supplier Plotting Checklist 2023. Enhanced ethical standards.

Collaboration 199

Collaboration Supply Chain Optimization Supply Chain Efficiency Supply chain 199

Supply Chain Collaborator

MARCH 26, 2018

The lede from a recent Wall Street Journal article blares, “ Some of the biggest food suppliers are struggling to manage soaring logistics costs in a fast-changing consumer market. These improvements may even be enough to help offset the need to hike prices on consumers which helps keep a food producer more competitive.

Price 60

Price Real-time Visibility Supply Chain Efficiency Logistics 60

Zycus Cognitive Procurement

OCTOBER 20, 2022

In broader terms, cognitive procurement can augment all parts of procurement, such as identifying potential suppliers, automating the contract management process, and creating a touchless procurement experience. By considering a more comprehensive range of data points, AI helps identify the best suppliers and negotiate the best terms.

Real-time Visibility 59

Real-time Visibility Procurement Procurement team Risk 59

Empowering CPO

JUNE 26, 2023

By embracing these trends, businesses can unlock a world of opportunities, drive cost savings, enhance supplier relationships, and ultimately achieve procurement excellence. Procurement data encompasses a wide range of information, including historical spend, transaction details, contracts, supplier information, and market intelligence.

Real-time Visibility 40

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

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

Pipefy

DECEMBER 20, 2023

P2P analytics is important because it offers a layer of visibility and transparency to data across the entire procure-to-pay cycle. With access to spend data and supplier metrics, procurement and finance teams gain control over financial operations and become more informed and efficient decision makers.

Import 52

Import Procurement Real-time Visibility Data 52

Arkestro

DECEMBER 12, 2022

Limited Supplier Network. Relying on a limited number of suppliers can lead to back-orders and other delays. Constrained supply chains and the associated shortages have resulted in mounting pressures for organizations to diversify their supplier bases. Supply Chain Visibility. Managing Supplier Relationships.

Real-time Visibility 52

Real-time Visibility Procurement e2e Raw materials 52

Empowering CPO

MAY 31, 2023

Introduction In today’s interconnected world of business, Supplier Relationship Management (SRM) stands as a pillar of success for organizations across the globe. It’s the concerted effort of strategically planning and managing all interactions with suppliers that supply any goods and/or services to an organization.

Supplier relationship management 52

Supplier relationship management Collaboration Suppliers Supply Chain Efficiency 52

Spend Matters

JUNE 19, 2023

They mainly make requisitions and purchase orders to suppliers through searches in internal or external catalogs or via configurable electronic forms. budget compliance and inventory availability), enable effective spend, preferred supplier and category management.

Procurement solutions 87

Procurement solutions Procurement supply chain budgeting Real-time Visibility 87

Zycus Cognitive Procurement

JANUARY 16, 2023

You must have found yourself struggling with limited visibility into preferred or contracted suppliers, contract utilization status, budgeting issues, and multiple requirements for sourcing low dollar items or services. It is usually time consuming, require multiple approvals and follow ups. Lack of pricing compliance .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

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. The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing. Bureau of Labor Statistics.

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

Arkestro

FEBRUARY 6, 2024

Supplier and Buyer Engagement In India, our team worked to train over 15 buyers. The buyers were extremely engaged before, during, and after launching events in the Arkestro platform, and were in constant contact with their suppliers to see how Arkestro’s game theory, data science, and ML worked in real time.

Competitive bidding 52

Competitive bidding Procurement Real-time Visibility Supply Chain Efficiency 52

Procurement Software

APRIL 18, 2023

eAuctions are a negotiation method that allow buyers to leverage market-driven pricing opportunities. This ensures they get the best deal possible with their suppliers. These negotiations take place in real time, with all prospective suppliers at once. This involves suppliers competing in sequential bidding.

Bidding 52

Bidding Supply Chain Efficiency Real-time Visibility Negotiation 52

Arkestro

JUNE 6, 2023

Ultimately, both want the same goal — ensuring business outcomes are positive, timely, and on-budget. Purchases in Time and Budget: How many purchases are on budget and on time? Procurement Cost Reduction: How are costs being reduced over time? Emergency Purchase Ratio: How many unplanned purchases are being made?

Supply Chain Efficiency 52

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

Planergy

JANUARY 19, 2024

How to gain visibility and control of your indirect spend. Taking your time throughout the process ensures you get the best possible match. Vendor analysis evaluates and compares various suppliers based on their pricing, quality, reputation, reliability, and service delivery. What is a Vendor Analysis Report?

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

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

Empowering CPO

FEBRUARY 11, 2024

Consulting firms like ours leverage cutting-edge tools and analytics to gain deep insights into market trends, supplier performance, and cost structures. Procurement market intelligence is a key pillar of it, providing organizations with real-time information on supplier capabilities, emerging trends, and potential risks.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Spend Matters

DECEMBER 21, 2023

In sourcing, the AI can rapidly analyze supplier options based on pricing, quality, sustainability and other factors to identify optimal partners, while also predicting performance to mitigate risk. More accurate forecasts allow for better planning, inventory management and mitigation of various supply chain risks proactively.

Procurement solutions 83

Procurement solutions Procurement e2e Real-time Visibility 83

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

Empowering CPO

JUNE 27, 2023

By analyzing and understanding how an organization spends its resources, businesses can identify cost-saving opportunities, enhance supplier relationships, and drive overall efficiency. Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility.

Real-time Visibility 40

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

ivalua

MAY 6, 2021

These include faster co-innovation with suppliers, working with sustainable and ethical suppliers and empowering employees — all of which will lead to increased business agility. . Smart software shifts from drilling down on existing data to alerting up, so managers can respond to events or trends in real time. .

supply chain software solutions 130

supply chain software solutions Procurement Agile and Lean Supply Chain Supply Chain Efficiency 130

Zycus Cognitive Procurement

SEPTEMBER 28, 2022

A 3-way invoice matching process is a way to make payments pledged to the suppliers while shielding the business from any sort of risk of unnecessary spending. The first step in this process is to place the order with a supplier through a purchase order (PO). This lack of visibility can lead to inefficiencies in the process.

Real-time Visibility 40

Real-time Visibility Purchase orders Purchasing Suppliers 40

Supply Chain Game Changer

OCTOBER 14, 2021

Crude oil prices are a simple litmus test for economic performance—namely in how they affect the cost of fuel prices, which affect freight rates. While 2022 might bring some relief from constant record-setting spot prices, supply chain executives need to brace for continued high costs in an inflationary period. bbl to $68.50.

Supply Chain Efficiency 76

Supply Chain Efficiency Supply chain Real-time Visibility Supply Chain Visibility 76