Procurement Tactics

JUNE 28, 2023

Demand is affected by changes in supply and lower supply means higher prices and vice versa. Increases in prices mean increased production costs and higher inflation rates. Commodity Trading is also a vital aspect of the Global Economy; Providing price discovery, risk management, and efficient resource allocation.

Raw materials 178

Raw materials Supply Chain Efficiency Price Market analysis 178

Spend Matters

APRIL 4, 2024

Pere Sivecas , Spend Matters Development PM and Software Architect, has compiled a four-part video series that covers the basics you need to know, the first two of which are free while parts three and four require a basic Insider subscription.

Procurement 83

Procurement Risk management Raw materials supply chain software solutions 83

World of Procurement blog

APRIL 23, 2024

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

Procurement Tactics

JUNE 28, 2023

By the end of this article, you will have an idea of the importance of procurement tracking in your business and which procurement tracking software you would want to utilize. Procurement Tracking is the process of monitoring and managing procurement activities. What is Procurement Tracking?

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

SCMDOJO

JUNE 6, 2023

For businesses to succeed, supply chain optimization is essential to succeed. Supply chain optimization can achieve this with the help of data analytics. They can understand their supply chain operations with more precision. They can understand their supply chain operations with more precision.

Supply Chain Optimization 72

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

Procurement Tactics

MAY 30, 2023

They manage the sourcing and purchasing of goods and services that the organization requires to operate effectively. Their primary responsibilities include negotiating with suppliers to obtain favorable terms and prices, ensuring the quality and timely delivery of goods and services, and managing the procurement process from start to finish.

Management 178

Management supply chain budgeting Procurement Negotiation 178

Procurement Software

APRIL 2, 2024

But often, those who aren’t familiar with the procurement software market mistakenly overestimate the cost. You don’t need a 6-figure software budget or a large sum to hire consultants for implementation. There’s plenty of digital procurement solutions out there for every budget. Let’s dive in.

supply chain budgeting 52

supply chain budgeting supply chain software solutions Procurement Budget 52

World of Procurement blog

APRIL 23, 2024

Procurement analytics is the process of collecting, processing, and analyzing data related to an organization's purchasing activities to improve efficiency, reduce costs, and provide valuable insights into supply chain operations. How to Use Data in Procurement? Descriptive analytics can help identify patterns and trends.

Procurement 52

Procurement Supply Chain Optimization supply chain budgeting supply chain software solutions 52

World of Procurement blog

APRIL 23, 2024

Procurement analytics is the process of collecting, processing, and analyzing data related to an organization's purchasing activities to improve efficiency, reduce costs, and provide valuable insights into supply chain operations. How to Use Data in Procurement? Descriptive analytics can help identify patterns and trends.

Procurement 52

Procurement Supply Chain Optimization supply chain budgeting supply chain software solutions 52

The Procuretech Podcast

OCTOBER 12, 2021

Hot Digital Procurement and Supply Chain Startups in the ESG and Risk Management Space. On this episode, we’re looking at startups whose mission is solving problems in the rapidly growing and increasingly important ESG and Risk Management area. Tobias Bohnhoff, Founder of Shipzero is my first guest.

Risk management 40

Risk management Risk Supply Chain Efficiency Management 40

Procurement Tactics

MAY 24, 2023

These KPIs might include factors such as on-time delivery, product quality, pricing, responsiveness to inquiries, and customer service. For example, you can ask a department head to provide feedback and scores for a software service used by their team. Pricing Performance Pricing is an important point when choosing a supplier.

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Arkestro

FEBRUARY 20, 2024

in 2023 , even as organizations continue to grapple with talent shortages, budget cuts, supply chain issues, and global inflation. Predictive procurement is a modern approach to supply chain management that leverages data analytics , machine learning, and game theory to forecast and optimize purchasing activities.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Procurement Supply Chain Efficiency 52

Supply Chain Game Changer

FEBRUARY 27, 2019

Change is inevitable in modern supply chain management, and risk management is essential to success. Risks evolve and become more prevalent with time. Risk management strategies of yesteryear are ineffective in the changing landscape, and no type of transport can avoid risks.

Risk 57

Risk supply chain software solutions Supply Chain Efficiency Supply chain 57

Arkestro

MARCH 27, 2024

After years of focusing on cost reduction, the majority of procurement leaders say they plan to spend more and increase workloads in 2024, meaning procurement buyers will have more power to influence change and optimize spend across the entire supply chain. But what does a procurement buyer do, exactly?

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

Arkestro

SEPTEMBER 29, 2023

The software works with real-time and historical data, including user preferences, past buys, supplier performance, and market trends. Systems use this data to automate routine procurement tasks and make informed decisions about sourcing, pricing, and supplier relationships. Why is autonomous procurement important?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 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

Procurify

JULY 20, 2022

So, what are the common challenges purchasing managers face today, and how can they address them? Risk management and mitigation. Risk management and mitigation is a primary purchasing challenge today. Before, purchasing managers often prioritized spend management. Implementing digital technologies.

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Arkestro

APRIL 25, 2023

In fact, 71% of all companies said the cost of raw materials is the biggest threat to their supply chain in 2023. 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

Procurement Software

MARCH 11, 2022

Sustainability initiatives within the supply chain. Third party risk management. Contract lifecycle management. It’s therefore a fair assumption that if you remove these non-value added tasks, you will allow the Procurement Manager to deliver a third more value to the business. Supplier innovation.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

Arkestro

JANUARY 23, 2024

To achieve their goal, procurement managers must learn the art of sourcing and managing supplier relationships , negotiating costs, complying with laws and regulations, and more. They must constantly stay ahead of market trends, researching to understand changes in pricing, supplier landscapes, and industry regulations.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Arkestro

MAY 23, 2023

Fortunately for construction companies, new solutions have emerged to meet their challenges. Today, the right procurement software can streamline procurement processes and help procurement managers level-up their current methods of addressing common problems such as project delays, quality control, sustainability, and risk management.

Procurement 52

Procurement Agile and Lean Supply Chain supply chain budgeting supply chain software solutions 52

Arkestro

MAY 30, 2022

At the same time, digital acceleration and the need for agility have expanded the role of procurement and finance from cost-management functions to broader champions of risk management, strategic decision making, and business agility.”. . We all remember the early days of the pandemic and shortages in critical medical supplies.

Agile and Lean Supply Chain 52

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

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

With the increasing complexity of supply chains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. Properly identifying and mitigating risks is essential to ensuring success and sustainability.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Planergy

JANUARY 19, 2024

Modern Spend Management and Accounts Payable software. Vendor analysis is crucial for risk management. That’s why vendor analysis is essential to any successful procurement process – it helps ensure that companies procure from reliable suppliers at competitive prices while adhering to applicable regulations.

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

Supply Chain Opz

JUNE 1, 2014

Professionals in supply chain management use various methods to identify best practices to improve the operations. Analysis of case study is certainly one of the most popular methods for people from business management background. Supply Chain of fashion industry involves a time based competition.

Agile and Lean Supply Chain 95

Agile and Lean Supply Chain supply chain software solutions supply chain budgeting Supply chain 95

ivalua

APRIL 23, 2020

Like every industry Procurement & Supply Chain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. The post Procurement & Supply Chain Experts lined up for Ivalua NOW Virtual 2020 on May 5th!

supply chain software solutions 46

supply chain software solutions Supply chain Procurement Supply 46

Procurement Software

MARCH 19, 2024

It will take time before we have dedicated generative AI-driven procurement software. Generative AI’s current impact in procurement is best illustrated by tech-savvy procurement category managers leveraging apps like ChatGPT and Bard to streamline the execution of routine tasks. Let’s look at each one separately.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Zycus Cognitive Procurement

SEPTEMBER 28, 2022

Luke Elliott discussed the dramatic shift in Procurement landscape and how Digital Procurement can help leaders stay resilient in the face of current challenges with respect to price inflation being at a 40-year high and disruptive supply chains leading to stock issues. 96% of the leaders believe that this a long-term trend.

Procurement 40

Procurement Chief Procurement Officer Agile and Lean Supply Chain Supply Chain Optimization 40

Procurement Software

MARCH 11, 2022

Sustainability initiatives within the supply chain. Third party risk management. Contract lifecycle management. It’s therefore a fair assumption that if you remove these non-value added tasks, you will allow the Procurement Manager to deliver a third more value to the business. Supplier innovation.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 52

Zycus Cognitive Procurement

JULY 25, 2022

Over the past two years, we’ve seen how supply chains are constantly changing and facing uncertainties. This blog will help you become a better procurement manager by providing you the latest updates on procurement digitization. However, talent management and innovation are expected to be the long term investments. .

supply chain budgeting 52

supply chain budgeting Procurement Agile and Lean Supply Chain Management 52

Zycus Cognitive Procurement

JANUARY 24, 2023

As per the experts “ PLAN for 2023 requires a synergy between people, process and technology aspects.” Technology: CPOs should look for an integrated platform to manage all the spending and processes, such as third-party risk, sourcing, supply chain, invoicing, contracting, and payments.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

SCMDOJO

SEPTEMBER 18, 2023

In the dynamic landscape of supply chain management, precise terminology is paramount. Sourcing plays a crucial role in building strong supplier relationships and achieving cost-effectiveness in the supply chain. Stocking: Stocking relates to the physical storage and management of inventory within a supply chain.

Procurement 97

Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 97

Procurement Heads

JUNE 22, 2022

I gradually learned more about the supply chain that supported the insurance industry and that companies were being used to dry out properties when there had been a flood, replace property when there had been a theft and that the supply chain world interested me more and more.

e2e 130

e2e supply chain software solutions Supply chain Suppliers 130

Empowering CPO

DECEMBER 3, 2020

The cartel forming companies divide the markets and customers between themselves and agree on prices. The consequences are increased prices and deteriorating quality of products and services. The cartel may decide to increase the pricing cohesively. In some cases the decision to break the cartel can backfire.

Chief Procurement Officer 52

Chief Procurement Officer Bidding Strategic sourcing Strategic sourcing 52

Zycus Cognitive Procurement

SEPTEMBER 13, 2022

The third prominent change is that buyers now also have to consider decarbonization, they need to select suppliers based on price and carbon footprints. There is a need for knowledge and understanding of Design Thinking, decoding supply chain, digital mindset, workflow management, and decarbonization.

Procurement 52

Procurement Buyers Leadership Agile and Lean Supply Chain 52

Empowering CPO

JUNE 26, 2023

Cost Pressures: Healthcare organizations face significant cost pressures due to factors such as rising drug prices, expensive medical equipment, and the need to attract and retain skilled healthcare professionals. This enables organizations to negotiate better prices and terms with suppliers, achieving cost savings while maintaining quality.

supply chain budgeting 52

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