ProcurePort

AUGUST 24, 2021

Can purchase order management software improve efficiency for procurement teams? The question of efficiency is one that every procurement team is seeking answers for. The post Efficient Purchase Order Management Software appeared first on ProcurePort Blog. The more suppliers you have to […].

Purchase orders 130

Purchase orders Purchasing Chief Procurement Officer Management 130

Procurement Tactics

JUNE 7, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Price Variance — Everything You Should Know Purchase price variance is an important factor for budget preparation, but why? Price Purchase Variance: What is it?

Price 130

Price Purchasing Raw materials Negotiation 130

ProcurePort

AUGUST 24, 2020

Understanding the nuances between these terms is integral to finding success as a procurement professional. Additionally, it can be a good self-reflection exercise to ensure that your internal procurement team is using the appropriate […].

Purchase orders 130

Purchase orders Purchasing Procurement team Procurement 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. What is a Purchase Order?

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Purchase orders Purchasing Buyers Quantity 130

ProcurePort

JULY 7, 2022

• Lean procurement or lean purchase is seen as a principle in the procurement of achieving more with less. Lean procurement seeks to acquire the least number of inputs to achieve the desired outcomes or results. • The post What Is Lean Procurement or Lean Purchasing? appeared first on ProcurePort Blog.

Purchasing 130

Purchasing Procurement Procurement team Inventory 130

Positive Purchasing

MARCH 22, 2024

At Positive Purchasing, we’re actively building our tech partner network to leverage the best complementary software to assist users of our products to solve other common procurement challenges. Jonathan O’Brien, CEO of Positive Purchasing, says: “We are delighted to be partnering with Matchory.

Purchasing 52

Purchasing Supplier relationship management Procurement team Negotiation 52

ProcurePort

JANUARY 20, 2022

Procurement teams rely on a multitude of frameworks to source and supply needed goods, services, and raw materials. A direct purchasing system (DPS) is a contemporary mode of procurement that has been adopted by numerous enterprises. This ‘free […]. This ‘free […].

Purchasing 130

Purchasing Raw materials Procurement team Procurement 130

NLPA (Next Level Purchasing Association)

FEBRUARY 2, 2024

The ever-evolving world of procurement demands agility, efficiency, and a sharp eye for optimization. This article dives into 7 situations where process improvement can revolutionize your procurement team and skyrocket your bottom line. Is your procurement team facing any of these situations? Look no further!

Procurement team 52

Procurement team Procurement Collaboration Risk 52

ProcurePort

SEPTEMBER 29, 2021

Invoice purchase order software (I/PO software) refers to technology that syncs purchase orders created by buyers and invoices generated from fulfilled purchase orders. It’s a pragmatic solution that has simplified life for procurement teams and vendors.

Purchase orders 130

Purchase orders Purchasing Procurement team Buyers 130

ProcurePort

JUNE 15, 2020

There are many elements to be aware of as a procurement team. Understanding each and every step in the process is integral to building a successful, comprehensive, and efficient procurement process. The post Purchase Requisition Policies and Procedures Explained appeared first on ProcurePort Blog.

Purchasing 130

Purchasing Procurement team Procurement 130

Una

MAY 23, 2023

Group Purchasing and Indirect Spend: A Fairy-tale Romance A unique take on the relationship between group purchasing and indirect spend and how the two work together to drive cost savings and value. Once upon a time, in the bustling World of Procurement, there existed a charming knight known as Group Purchasing.

Purchasing 97

Purchasing Supply Chain Efficiency Supply Chain Optimization Procurement 97

Una

AUGUST 9, 2022

How to Use Group Purchasing as a Cost Reduction Strategy. For most of us, 2020 was no time to purchase a new car or book a future trip to Disneyland. The burden of cost-cutting has traditionally fallen to the CPO and the procurement team, and the fallout from the coronavirus crisis is no different. in April 2020.

Purchasing 96

Purchasing Strategy supply chain budgeting Procurement team 96

Una

DECEMBER 6, 2022

8 No-Brainer Reasons to Join a Group Purchasing Organization. Procurement no-brainers include low-risk, high-return activities like centralizing data , paying suppliers on time, and optimizing processes. 8 Reasons to join a group purchasing organization. In many ways, we’re like a procurement consultancy without the fees.

Purchasing 98

Purchasing Procurement strategies Risk Suppliers 98

Skill Dynamics

AUGUST 11, 2022

Procurement teams must also evaluate whether or not they anticipate a long-term relationship with the supplier to help the organization compete successfully in the market. Do you have a plan in place to accommodate changes in your business strategy, and how would changes in demand impact your purchasing decisions and spend?

Procurement team 52

Procurement team Suppliers Supply chain Supplier relationship management 52

Procurify

JULY 20, 2022

If you are a purchasing manager struggling to meet your saving targets, you’re not alone. . According to a report by Ardent Partners , 2022 savings targets for procurement teams is almost 19% lower than the last year. Technological advancements are also rapidly changing the responsibilities of purchasing managers. .

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Una

MAY 23, 2023

Group Purchasing and Indirect Spend: A Fairy-tale Romance A unique take on the relationship between group purchasing and indirect spend and how the two work together to drive cost savings and value. Once upon a time, in the bustling World of Procurement, there existed a charming knight known as Group Purchasing.

Purchasing 52

Purchasing Supply Chain Efficiency Supply Chain Optimization Procurement 52

Pipefy

JANUARY 31, 2023

Why purchase request approval is important The purchase requisition approval process is the final layer of review that’s required for all purchase requests. Once purchase requisitions are processed and approved, a purchase order is generated and submitted to the vendor or supplier for fulfillment.

Purchasing 52

Purchasing Purchase orders Real-time Visibility e2e 52

Positive Purchasing

MARCH 20, 2024

At Positive Purchasing, we’re actively building our tech partner network to leverage the best complementary software to assist users of our products to solve other common procurement challenges. Jonathan O’Brien, CEO of Positive Purchasing, says: “We are delighted to be partnering with Matchory.

Category management 52

Category management Management Supplier relationship management Procurement team 52

Supply Chain Game Changer

JANUARY 30, 2019

Procurement bridges the gap between product, internal stakeholders and customers. In order to support the weight of internal and external expectations, Procurement teams must be prepared to perform as a key value adder within an organization. Article, and permission to publish here, provided by Sam Jenks at [link].

Procurement team 56

Procurement team Procurement Sustainability Suppliers 56

ProcurePort

MAY 27, 2020

Determining how much total money spent in the last year, identifying vendors and managing their relationships, and listing out the various categories of products and services purchased are daunting tasks to any procurement team. The post Your 5-Step Procurement Spend Analysis Template appeared first on ProcurePort Blog.

Procurement 254

Procurement Procurement team Purchasing Management 254

Procurement Templates

MARCH 3, 2024

A RFQ is used for low cost purchases and a PQQ is typically used for higher cost tenders. Procurement Category Analysis is a strategic process used by organizations to understand and optimize their spending within specific procurement categories. Can you spot the mistakes! A PQQ is the first stage, followed by an ITT.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Spend Matters

JANUARY 12, 2024

Procurement priorities will shift as budgets increase Driven by expected budget increases in 2024, procurement teams globally will make a dramatic shift in how they spend their time, placing an added emphasis on pursuing ESG goals.

Procurement solutions 89

Procurement solutions Procurement supply chain budgeting Procurement team 89

ivalua

FEBRUARY 10, 2023

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. The key for procurement teams is to stay ahead of inflationary trends so they can anticipate needs and adjust accordingly before problems arise.

Price 264

Price Strategy Sourcing Real-time Visibility 264

ivalua

APRIL 20, 2023

With an intuitive e-commerce experience, Ivalua’s eProcurement platform will help Hutchinson globalize and streamline purchase requisitions, digitalize and automate large volumes of purchase orders, simplify receiving processes, and improve budget tracking.

Eprocurement 130

Eprocurement Procurement Supplier relationship management Spend management 130

Supply Chain Game Changer

NOVEMBER 26, 2018

We completed extensive research, watched a lot of how-to clips, purchased some best practices resources, discussed/strategized amongst ourselves at length, developed ground rules, consolidated a plan, and continuously reviewed our methods and performance throughout Charlie’s first 15 months of training. We were well prepared.

Procurement team 43

Procurement team Supplier relationship management Procurement Suppliers 43

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

In today’s dynamic business landscape, category management in procurement has become an essential weapon for procurement teams seeking to optimize spend, strengthen supplier relationships, and drive growth. This is where category management in procurement emerges as a game-changer.

Category management 52

Category management Management Procurement Supplier relationship management 52

Procurement Tactics

NOVEMBER 27, 2022

Many companies are now starting to implement green procurement in their operations. In this article, you will learn what green procurement is. We will discuss with you what green purchasing is and the challenges facing procurement professionals in green procurement. What is Green Purchasing?

Procurement 191

Procurement Sustainability Purchasing Raw materials 191

Procurement Tactics

SEPTEMBER 5, 2022

The purchases that arise from these situations are what we call spot buys. . Spot buying is a purchase that is unplanned which is usually considered an emergency cost or a one-time buy. The low value is usually related to small purchases that if left unchecked can add up over time which eats away at the bottom line. .

Purchasing 130

Purchasing Negotiation Procurement team Procurement 130

Una

DECEMBER 20, 2022

Your procurement team’s sourcing strategy might favor a strategic, project-based, long-term contract, or one-off spot-purchase approach. It typically involves a competitive process and will be overseen by procurement leaders or a cross-functional category team. Proper purchase authorization. Coding systems.

Management 98

Management Buyers Procurement team Contract 98

Spend Matters

FEBRUARY 26, 2024

Procurement teams commonly follow this principle to prioritize activities and define focus areas to maximize return on investment. Such an area is tail spend, the purchases that makeup approximately 80 percent of transactions/parts/suppliers but only 20 percent of total spend volume.

Market analysis 98

Market analysis Sourcing Spend management Purchasing 98

Procurement Tactics

NOVEMBER 23, 2022

When you promise that your business processes are ethical, then you should walk the talk as customers are now wary of how their purchases can affect the environment and society. . By working with procurement teams, companies can source external resources that may help achieve CSR initiatives. . CSR is a culture of a company.

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Procurement Leaders

MAY 29, 2022

billion in health supplies to be procured, an increase of more than 41% over 2020. PAHO has scientific and technical expertise in public health and procurement, and works with its 35 member states to deal with priority regional and national health issues. RPA helps to both simplify and speed up time-intensive procurement activities.

Procurement 130

Procurement Purchase orders Procurement team Purchasing 130

Empowering CPO

FEBRUARY 23, 2024

As businesses seek agility, cost optimization, and data-driven decision-making, AI-powered solutions are becoming indispensable for procurement professionals. Procurement teams can proactively manage inventory, negotiate contracts, and mitigate risks. This streamlines operations, minimizes errors, and frees up valuable time.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

Una

FEBRUARY 27, 2023

Fierce external competition Competition amongst procurement teams is tough. This increased competition for talent has driven up procurement salaries, which is welcome news for workers but puts under-resourced, smaller organizations at a hiring disadvantage.

Procurement 97

Procurement Procurement team Purchasing Risk 97

Una

AUGUST 17, 2022

There are dozens of definitions of tail spend in circulation, but here are the main features you need to know: Tail spend is not actively managed by the procurement team. It's decentralized by buyers in the business (not procurement people). Put simply, procurement teams can’t do everything. What is tail spend?

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

Procurement Tactics

NOVEMBER 29, 2022

We will tell you about MRO purchasing and MRO inventory management. MRO in procurement is usually a forgotten category that is commonly left to operations personnel to find and secure their needed supplies. As such, it can become a risky purchase as operations personnel may spend more than what the company needs to operate. .

Procurement 168

Procurement Inventory Purchasing Procurement strategies 168

Procurement Templates

MARCH 28, 2024

“Brothers and sisters of procurement,” intones the Chief Purchasing Officer, “Let us reflect on our journey thus far. In the end, as the sun sets on Easter eve, the procurement officers emerge triumphant, clutching crates of eggs as if they were the Holy Grail itself.

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Chief Procurement Officer Bidding Negotiation Procurement 130