Remove Procurement strategies Remove Suppliers Remove Supply Chain Optimization Remove Supply chain resilience
article thumbnail

Supplier Collaboration Software — What You Should Know

Procurement Tactics

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Supplier Collaboration Software — What You Should Know The use of supplier collaboration software continues to rise as businesses grow and technology advances. However, what is it?

article thumbnail

Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy.

Price 264
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Supply Chain Collaboration — The Ultimate Guide

Procurement Tactics

Financial Supply Chain — The Ultimate Guide of 2023. Supply chain collaboration is definitely new to many newcomers in the supply chain industry. It may be an overused term in the supply chain but still confuses a lot of people. . Defining Supply Chain Collaboration.

article thumbnail

4 Key Trends Reshaping Manufacturing Procurement in 2024

Arkestro

As we move into 2024, procurement teams continue to face hurdles like supply chain volatility, geopolitical tensions, budget restrictions, talent shortages, and more. Take a look at how procurement teams will meet ESG goals in 2024: Technology and supplier intelligence. Supplier performance analysis.

article thumbnail

Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement

Una

Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement Explore the nuances between offshoring and other approaches to procurement and how each one can impact the bottom line, supply chain resilience and overall strategic objectives. Offshoring Offshoring is the opposite of onshoring.

article thumbnail

Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

article thumbnail

Top 4 Business Drivers for Investment in Procurement Transformation 2023

Zycus Cognitive Procurement

At its core, procurement strategies are all about managing the change aimed at driving continuous improvement in the supply chain. This requires expertise across both people and process aspects, and the ability to build strong relationships with suppliers.