Procurement Tactics

OCTOBER 13, 2022

Strategic Sourcing Manager — The Ultimate Guide. A strategic sourcing manager is a key person in ensuring that the strategic process is effective and efficient. However, not many people know their real role in procurement. . In this article, we will discuss what a strategic sourcing manager is.

Strategic sourcing 200

Strategic sourcing Strategic sourcing Sourcing Management 200

IBM Supply Chain Blog

FEBRUARY 28, 2024

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

Sourcing 99

Sourcing Strategy Supply Chain Efficiency e2e 99

Spend Matters

FEBRUARY 26, 2024

This is the first in a three-part series that covers Fairmarkit’s sourcing offerings. Procurement teams commonly follow this principle to prioritize activities and define focus areas to maximize return on investment. Based on its success in addressing tail spend, it is looking to extend its approach to more recurrent purchases.

Market analysis 92

Market analysis Sourcing Spend management Purchasing 92

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. For decades, procurement professionals saw as much daylight as the basement-dwelling character Milton Waddams in Office Space. These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Una

MARCH 23, 2023

Pain Points in Procurement Series Improving Time-to-Source in Procurement Improving time-to-source in procurement can lead to greater customer satisfaction, streamlined sourcing processes, and increased cost savings. How to improve time-to-source in procurement But how can we speed up time-to-source?

Sourcing 98

Sourcing Procurement Procurement team Contract 98

World of Procurement blog

MAY 8, 2024

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.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 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 97

Purchasing Supply Chain Efficiency Supply Chain Optimization Procurement 97

Una

AUGUST 31, 2023

Overcoming Challenges with Strategic Sourcing for SMEs Explore how strategic sourcing for SMEs can help procurement professionals overcome the unique challenges of operating a small business. Should smaller organizations stay in their lane and concentrate on day-to-day tactical sourcing?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

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

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 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

Empowering CPO

FEBRUARY 11, 2024

Introduction In the ever-evolving landscape of procurement, organizations are turning to strategic sourcing services to navigate the complexities and achieve sustainable success. This intelligence empowers decision-makers to proactively adapt their sourcing strategies, ensuring resilience and agility in the face of market fluctuations.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 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

Una

MAY 22, 2024

Doing More With Less in Procurement Five ways Sourcing Heroes can come out on top when they’re constantly being asked to do more with less in procurement. By Hugo Britt | May 23, 2024 Search Search Would you be able to generate more output in your procurement team if you were forced to work with less?

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization Procurement team 52

Supply Chain Game Changer

APRIL 28, 2020

In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. What is Single Sourcing or Sole Sourcing?

Sourcing 82

Sourcing Bidding Supply chain Suppliers 82

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. They have to match the Purchase Requisition with the underlying contracts and quotations .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

Arkestro

SEPTEMBER 19, 2023

Resources / Blog / Autonomous Sourcing Leads to Better Procurement Outcomes Autonomous Sourcing Leads to Better Procurement Outcomes The only ubiquitous thing about sourcing and procurement in 2023 is that there is no one-size-fits-all model for success.

Sourcing 52

Sourcing supply chain budgeting Procurement Bidding 52

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 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. .

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Una

DECEMBER 20, 2022

Sourcing and managing suppliers. 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.

Management 98

Management Buyers Procurement team Contract 98

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. During sourcing projects, compliance is a valued attribute from the side of a supplier.

Procurement team 56

Procurement team Procurement Sustainability Suppliers 56

ivalua

FEBRUARY 8, 2023

Procurement teams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. Work to achieve 100% supply chain visibility. Why is visibility so important?

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

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 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

Future Purchasing

OCTOBER 4, 2022

Value is usually secured via three implementation routes – internal business change, supplier management and sourcing. In contrast, strategic sourcing is the process used by Procurement teams to source products and services for the business. Business requirements. Further reading.

Category management 59

Category management Strategic sourcing Strategic sourcing Sourcing 59

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

ivalua

AUGUST 17, 2021

An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis. What is Direct Procurement?

Procurement 130

Procurement Procurement team Sourcing Supplier relationship management 130

Arkestro

APRIL 23, 2024

Resources / Blog / Embracing AI and Predictive Procurement to Overcome Industry Challenges Embracing AI and Predictive Procurement to Overcome Industry Challenges Today’s procurement teams are faced with a host of challenges: Managing more spend with fewer headcount. Enhancing supplier performance.

Procurement 52

Procurement Procurement team Quality Demand Planning 52

Una

MARCH 30, 2023

Each week, the Una team will explore one of ten common pain points impacting procurement today, and put forth actionable solutions to each of these challenges. The truth is, sourcing heroes can do more to shift stakeholder and supplier mindsets about the value the profession can bring to the organization. Great question!

Procurement 104

Procurement Supply Chain Efficiency Procurement team Sustainability 104

ivalua

MAY 9, 2023

Prior to his time at Ivalua, Jarrod held various roles in category and supplier management—including strategic sourcing and procurement team management where he led teams to implement shared service procurement models and Source-to-Pay systems.

Procurement 246

Procurement Strategy Strategic sourcing Strategic sourcing 246

Empowering CPO

FEBRUARY 23, 2024

Introduction In the dynamic world of procurement, artificial intelligence (AI) is rapidly reshaping the sourcing landscape. As businesses seek agility, cost optimization, and data-driven decision-making, AI-powered solutions are becoming indispensable for procurement professionals. Data governance ensures reliable insights.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

ivalua

OCTOBER 13, 2022

Gaining access to valuable supply chain information can prove a vital source of competitive advantage and help procurement teams contribute to achieving a range of business objectives, in particular improving ESG and increasing supply resiliency”, he added. About the research.

Supply Chain Efficiency 130

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

ivalua

FEBRUARY 27, 2023

Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any Manufacturer looking to stay ahead of the game. Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle. Manufacturers, take charge of your supply chain!

Real-time Visibility 130

Real-time Visibility Procurement Agile and Lean Supply Chain supply chain budgeting 130

Empowering CPO

JUNE 22, 2023

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? The answer lies in the powerful tool of spend analysis.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Leaders

MARCH 10, 2023

So risk will be one of the key metrics for purchasing in the future. As long as we nurture collaboration, have a strong team and have a clear process to follow, everything will fall into place.” I would say if I were to pick one of the other risks, the newest in the sourcing environment is the cyber risk.

Collaboration 147

Collaboration Supply chain Management Risk management 147