Procurement Tactics

MARCH 16, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Strategic Procurement — Everything You Should Know Strategic procurement allows businesses to meet the demand of the current procurement landscape by making sense of the data and automating the procurement process.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Procurement Tactics

JUNE 19, 2023

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. Here are some best practices to implement AI in your logistics: 1.

Logistics 193

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

Procurement Tactics

JULY 2, 2023

Budget Control When it comes to maintaining budgetary control throughout the entire procurement process, job orders are crucial. Managers and businesses may be able to monitor their expenditures in comparison with the approved and allocated budget by indicating expected costs and financial parameters in a job order.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

Procurement Tactics

NOVEMBER 28, 2022

Or receive our famous weekly newsletter. Cost Effectiveness Vs Cost Efficiency — Everything A Procurement You Should Know. Cost-effectiveness and cost-efficiency are often used interchangeably by many people. You can say that a transaction is cost-effective when the best benefit is acquired for a low price. .

Supply Chain Efficiency 130

Supply Chain Efficiency supply chain budgeting Inventory Budget 130

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. Budget and Cost Control Procurement expenditures, monitoring variations in the cost and identifying opportunities for savings, and avoiding unnecessary costs shall be monitored in accordance with the approved budget.

Supply Chain Efficiency 178

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

Procurement Tactics

JULY 20, 2023

The supplier order management software integrates with other systems such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and Supply Chain Management (SCM) to ensure a seamless flow of information across different departments. Establishing this system may require your time and effort.

supply chain software solutions 134

supply chain software solutions Suppliers Management Real-time Visibility 134

Procurement Tactics

MAY 21, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Acquisition Cost — Everything You Should Know Acquisition cost helps businesses to accurately track the total cost of acquiring an asset. However, what is it?

Negotiation 174

Negotiation Purchasing supply chain budgeting Procurement strategies 174

Una

APRIL 15, 2024

By Hugo Britt | April 16, 2024 Search Search Part of your job as a procurement professional is to ensure a stable and reliable supply chain. These risks include: Disrupted Supply Chain: Financial instability can lead to production delays, shortages, or even a complete halt in the supply of critical goods and services.

Suppliers 52

Suppliers supply chain budgeting Risk Quality 52

Procurement Tactics

JULY 13, 2022

Or receive our famous weekly newsletter. The global pandemic and the ongoing war between Russia and Ukraine have disrupted the supply chain. This will allow you to give importance to these functions that will keep your supply chain sustainable. Download Free PDF. Procurement Today. Negotiating. Contracting.

Procurement 130

Procurement supply chain budgeting Negotiation Contract 130

Procurement Tactics

SEPTEMBER 9, 2022

Or receive our famous weekly newsletter. The purpose of why he created the Matrix was to help companies in maximizing supply security and reduce costs by using most of their purchasing power. Kraljic Matrix is a strategic tool used by procurement and supply chain professionals to find and minimize supply risks nowadays.

supply chain budgeting 130

supply chain budgeting Purchasing Risk Market analysis 130

Procurement Tactics

JUNE 8, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Order vs Invoice — 7 Key Differences Purchase orders and invoices may be hard to differentiate, especially if you are new in the procurement industry.

Purchase orders 130

Purchase orders Purchasing Buyers Quantity 130

The Procuretech Podcast

OCTOBER 3, 2022

In this episode, we're going to extend that a little bit and talk about supply chain. Democratising Supply Chain Training - Dr. Muddassir Ahmed from SCM Dojo . Today's guest is a big personality in the supply chain space: Dr. Muddassir Ahmed, CEO of SCM Dojo. . He then moved to the UK for a PhD scholarship.

supply chain software solutions 40

supply chain software solutions supply chain budgeting Supply chain Supply 40

Procurement Tactics

AUGUST 30, 2022

Or receive our famous weekly newsletter. The goal of using an e-procurement system is to get goods or services at the best possible price at the best possible time. Through electronic procurement, organizations can set guidelines or limits regarding the budget and spending within the platform. . First Name. Download Free PDF.

Procurement 130

Procurement Supply Chain Efficiency Purchasing Suppliers 130

Procurement Tactics

AUGUST 24, 2022

Or receive our famous weekly newsletter. It gives organizations numerous options from which they can select suppliers according to their preferences such as product, prices, and location. Thus, it reduces costs and increases the profits of organizations. . Supply networks may require significant internal training time. .

Networking 130

Networking Suppliers Buyers supply chain budgeting 130

The Procuretech Podcast

JULY 11, 2023

Cost focus and recognition. Mitigating price rises and deflation. Sustainability, supply chain risk, digital transformation and visibility. Budgeting for training and digital transformation. Sustainability in the supply chain. Conversations with procurement and sales teams. Stay in touch!

Purchasing 40

Purchasing Category management Procurement supply chain budgeting 40

Una

JANUARY 17, 2024

Addressing the Possible Risks Associated with GPOs The Basics of Group Purchasing Buying Group vs Group Purchasing Organization The unmatched security of price protection Having a stable anchor is priceless in a sea of market fluctuations. GPOs offer just that with contracts providing an unmatched degree of price protection.

Negotiation 52

Negotiation Purchasing Strategic sourcing Strategic sourcing 52

Una

MARCH 21, 2023

Summer camp administrators across the country are still being impacted by the rising cost of food, while trying to anticipate the full impact these higher prices will have on their summer food programs again this year. From January 2022 to January 2023, consumers saw at-home food prices soar 11.3%.

Purchasing 95

Purchasing Price Contract supply chain budgeting 95

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 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Procurement Tactics

JUNE 8, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Warehouse Automation — Transforming Warehousing Warehouse automation helps businesses to increase productivity and accuracy in their warehouses. However, what is it?

supply chain software solutions 178

supply chain software solutions Warehouse operations Order Fulfillment Inventory 178

Planergy

MARCH 2, 2023

Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency. This can help you to understand your expenditures and budgets and identify cost reduction opportunities.

supply chain budgeting 52

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

Una

JUNE 8, 2023

We need to focus on those that are critical for maintaining a reliable supply chain, optimizing costs, driving innovation, improving efficiency , and supporting strategic objectives. The focus for these items is usually on building strong relationships with suppliers and ensuring a stable supply chain.

Suppliers 52

Suppliers Agile and Lean Supply Chain Supply Chain Efficiency Supply Chain Optimization 52

Planergy

AUGUST 16, 2022

Supplier development is an important part of a company’s overall supply chain management strategy and is essential for ensuring that the right suppliers are selected to deliver quality products and services. Capabilities can be assessed by evaluating the supplier’s performance in three areas: delivery, quality, and price.

Suppliers 52

Suppliers Management supply chain budgeting Supplier relationship management 52

Una

JUNE 22, 2023

It involves strategic planning, analysis, and negotiation to ensure that you are getting the best quality products or services at the most competitive price. By managing the procurement process effectively, you can optimize your supply chain, reduce costs, and maintain strong relationships with your suppliers.

Procurement 52

Procurement Purchasing Procurement strategies Procurement team 52

Planergy

DECEMBER 29, 2022

Additionally, marketing procurement often requires a higher level of negotiation skills, as it is often necessary to negotiate better terms with suppliers to get the best possible price for the goods and services being procured. In addition, there is often a need to obtain quotes from multiple vendors to get the best price.

Procurement 52

Procurement Raw materials supply chain budgeting supply chain software solutions 52

Planergy

JANUARY 12, 2023

As a procurement professional, you know how important it is to have a reliable and cost-effective supply chain. One way to ensure that your supply chain runs smoothly is by utilizing supplier tiering. Supplier tiering also helps reduce costs by eliminating inefficient or unnecessary processes in the supply chain.

Suppliers 52

Suppliers Supply Chain Efficiency Raw materials supply chain budgeting 52

Una

FEBRUARY 22, 2023

Procurement leaders feeling the constant pressure to deliver cost savings may be inclined to reach for the "low-hanging fruit" first. Fastest ways to reduce costs Some procurement professionals have it made. But after all of those quick wins, what's next?

Strategy 52

Strategy Purchasing Supply Chain Efficiency Supplier consolidation 52

Planergy

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Sourcing Supply Chain Management. Buyers can provide information about prices, quality, delivery times, and other important factors when purchasing. Project price and payment terms. Download Free Copy.

Buyers 52

Buyers Supply Chain Efficiency Suppliers Price 52

Planergy

SEPTEMBER 8, 2022

If suppliers feel like you’re constantly criticizing them or looking for ways to reduce costs, they may be less likely to want to do business with you in the future. Are the supplier’s costs reasonable and in line with your budget? Have any circumstances changed on your end that mean you need to renegotiate pricing?

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

Planergy

JULY 18, 2023

Remember that this number should always be positive; if it isn’t, you may need to adjust your budget or restructure some of your debt payments to ensure adequate business liquidity. With analysis, you can gain insight into how you may be able to restructure your costs and pricing to increase working capital or cut overall costs.

Import 52

Import supply chain budgeting Inventory Budget 52

Let's Talk Supply Chain

APRIL 18, 2024

The continuing conflict in Gaza with dire humanitarian implications is an ongoing supply chain disruptor and rising economic threat. Historically, wars around the globe have spiked oil prices , accelerating costs and challenges across the chain. With all this in mind, supply chain challenges aren’t going anywhere.

supply chain budgeting 98

supply chain budgeting Supply Chain Optimization Supply chain Supply 98

Procurement Tactics

MAY 16, 2023

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. 4PL: What is it?

Logistics 211

Logistics supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 211

Planergy

AUGUST 25, 2022

Another example is a company that sells heavy equipment that now offers an online option for its customers to manage their equipment, allowing them to track information such as purchase date, pricing, required maintenance scheduling, usage hours, and repair details. download a free copy of our guide.

Data 52

Data supply chain budgeting Purchasing supply chain software solutions 52

Procurement Tactics

JUNE 22, 2023

A purchase order is simply a document that a buyer sends to a supplier to request goods or services, which outlines the order’s details, including the quantity, price, delivery, and payment terms. Payment terms and pricing are typically negotiated for each purchase. Streamlines the procurement process and reduces paperwork.

Purchase orders 191

Purchase orders Purchasing Quantity Buyers 191

SCMDOJO

APRIL 3, 2022

They are far more convenient than conventional discussions and negotiations, providing procedural integrity and transparency while also lowering final prices owing to enhanced supplier competitiveness. General Cost Reductions: Maybe it is just one of the advantages of eAuctions, but it is still significant!

Supply Chain Efficiency 139

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 139

Una

MARCH 6, 2023

Prioritize factors beyond cost We often talk about looking beyond the lowest price when assessing suppliers, but this approach still assumes cost and risk will be the top two considerations. Getting Lean may therefore mean finding ways to reduce cost-to-source, or reducing the team headcount and doing more with less.

Innovation 98

Innovation Purchasing Agile and Lean Supply Chain Supplier relationship management 98

Procurement Tactics

JULY 14, 2022

Or receive our famous weekly newsletter. Almost all professionals in supply chain and procurement know that it is part of the huge procurement process. The organization evaluates the suppliers based on the price and quality of their materials or services. 33 Procurement Interview Questions in 2022. First Name.

Procurement 130

Procurement Bidding Supply Chain Efficiency Contract 130

The Good Spending

AUGUST 23, 2022

The fight for discounts will lead to applying either of three project management levers - Time, Budget, or Scope - and the inevitable quality deterioration. Cost avoidance Future years. Any savings attributable to the future periods beyond the current fiscal year is treated as cost avoidance because future P&L will account for it.

Procurement 98

Procurement supply chain budgeting Supply Chain Optimization Budget 98