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. This can be broken down by suppliers, departments, or individual goods and services.

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Arkestro

FEBRUARY 20, 2024

Resources / Blog / From Reactive to Proactive: How Predictive Procurement Reshapes the Industry From Reactive to Proactive: How Predictive Procurement Reshapes the Industry The procurement workload is expected to increase by 10.6% How does Predictive Procurement Orchestration Work? The result?

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supply chain budgeting Supply Chain Optimization Procurement Supply Chain Efficiency 52

World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Purchasing is more transactional and tactical. Purchasing focuses specifically on the buying transaction.

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Procurement Tactics

JULY 4, 2023

It is a powerful tool that helps procurement and supply chain professionals to evaluate and negotiate pricing with suppliers effectively and favorably and achieve cost savings. Importance of Should Cost Model A should-cost model is an essential tool for procurement and supply chain organizations.

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Raw materials supply chain software solutions supply chain budgeting Price 209

Procurement Tactics

JUNE 28, 2023

In this article, we are going to explore what procurement tracking is, its importance in business and the tools to be used when conducting it for its efficient execution. In this article, we are going to explore what procurement tracking is, its importance in business and the tools to be used when conducting it for its efficient execution.

Supply Chain Efficiency 178

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

Planergy

JULY 5, 2022

ESG In Supply Chain: Creating a Sustainable Value Chain. Ethical Sustainability & Responsibility Procurement. ESG In Supply Chain: Creating a Sustainable Value Chain We all know just how valuable the supply chain is. That’s where procurement’s role becomes so crucial.

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IBM Supply Chain Blog

DECEMBER 13, 2023

A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. In addition, a well-crafted procurement framework fosters innovation and sustainability.

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Procurement strategies Strategy Procurement Supply Chain Efficiency 73

Procurement Tactics

JULY 2, 2023

A formal contract document that contains the detailed requirement for purchasing and obtaining goods and services, a job order is utilized with a view to ensuring that the desired goods or services are acquired in an orderly and efficient way. There are various tools and software that provide a template to create a job order document.

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Una

OCTOBER 17, 2023

In this article, we explore where we are now in terms of procurement chatbots and predict some exciting possibilities for the future. They can guide end-users through catalog searches, item selection, and purchase requisition submissions, improving the overall experience for employees.

Procurement 52

Procurement supply chain software solutions Real-time Visibility Supply Chain Optimization 52

Arkestro

SEPTEMBER 29, 2023

Autonomous procurement refers to the use of advanced technologies to streamline and optimize the procurement process. This approach leverages data science, machine learning, and automation to analyze large quantities of data and make procurement decisions with minimal human intervention.

Supply Chain Efficiency 52

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Pipefy

JANUARY 11, 2023

The need for efficient and error-proof procurement processes has never been greater. Following recent unprecedented events and disruptions, one thing has become clear: procurement optimization is no longer just about cost-effectiveness or efficiency. . What is procurement transformation?

Strategy 52

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

Pipefy

JANUARY 9, 2023

Supply chain risks heightened by geopolitical conflict. These are just some of the many challenges procurement teams have had to face since the pandemic and throughout 2022. 5 procurement trends for 2023. This presents a very real economic cost for companies already faced with a lack of procurement resources.

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Agile and Lean Supply Chain Procurement Procurement team Supply Chain Efficiency 59

Pipefy

DECEMBER 20, 2023

Strategic procurement, or procurement strategic planning, is a data-driven process that helps businesses align procurement and business goals. The result is greater supply chain predictability, more accurate decision-making, and better business agility. What is strategic procurement?

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Agile and Lean Supply Chain Strategic planning 52

Arkestro

JUNE 20, 2023

Research-backed procurement strategies can help CFOs achieve their goals while minimizing risk exposure across global supply chains. This blog will cover the current challenges facing CFOs and procurement teams and several strategies that can be implemented to drive cost savings and increase efficiency.

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Procurement strategies Supply Chain Efficiency Strategy supply chain budgeting 52

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?

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Arkestro

DECEMBER 12, 2023

It’s a time that can be both exciting and stressful for retailers, especially when many procurement teams face supply shortages, staffing shortages, and other day-to-day challenges. Then, we’ll share some tips on how retailers can streamline and optimize procurement to ensure a successful holiday shopping season.

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

Una

NOVEMBER 29, 2023

But with a group purchasing organization working behind the scenes to save you money, time, and effort, there’s a golden opportunity to put your valuable time to better use. Below, we suggest 11 things you could be doing while your GPO takes care of time-consuming procurement tasks.

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Arkestro

JANUARY 18, 2023

Since raw materials are expensive—accounting for anywhere from 50% to 70% of sales revenue for chemical companies —procurement is in the spotlight. But beyond impacting cost, factors like economic uncertainty, supply chain disruption, and changing consumer preferences are transforming procurement in the industry.

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Raw materials Procurement supply chain budgeting Supply Chain Efficiency 94

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. However, failing to strategically measure purchasing performance can have significant impacts.

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Pipefy

MAY 23, 2023

In its long history , procurement has evolved from self-contained purchasing entities to an essential business partner handling processes involving several departments and many subprocesses. Below we’ll cover digital procurement solutions, essential features, and their benefits for optimized digital procurement workflows.

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Una

FEBRUARY 15, 2023

By Mackenzie Oakley | February 16, 2023 Search What if you could save money on food purchasing while increasing operational efficiency, all without sacrificing quality or adding to administrative burdens? Product optimization Proper menu design and product selection can help businesses reduce food waste and minimize costs.

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Una

JANUARY 8, 2024

Boosting Business Growth With the Help of a Group Purchasing Organization A playbook for boosting business growth, moving beyond the outdated perceptions of procurement, and turning it into one of your organization’s most important sources of value. What if procurement wasn’t just about cutting costs and securing deals?

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supply chain budgeting Supply Chain Efficiency Agile and Lean Supply Chain Purchasing 52

Planergy

MARCH 2, 2023

The process of tail spend analysis involves analyzing data from various sources, including supplier invoices, purchase orders, contracts, and other financial documents. Defining Tail Spend Tail spend is a term used to describe the small, often overlooked purchases made by an organization. This can make it difficult to track and manage.

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

Una

JULY 18, 2023

Top Technical Skills in the Digital Age of Procurement Explore the top technical skills purchasing professionals should have to be successful in the rapidly changing digital age of procurement. By Hugo Britt | July 18, 2023 Search Search Technical skills are changing in procurement. Make invisible spend data.

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Procurement Supply Chain Efficiency Agile and Lean Supply Chain Sustainability 52

Empowering CPO

JULY 17, 2023

From securing raw materials to procuring top-tier services, these purchases directly impact a company’s efficiency, productivity, and bottom line. From supplier relationship management to purchasing and payment processing, MPS providers cover a wide spectrum of procurement-related activities.

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Supply Chain Efficiency Management Procurement Supply Chain Optimization 52

Empowering CPO

JUNE 9, 2023

The Importance of Procurement in Business Procurement is the lifeblood of any business. It is the process of sourcing, negotiating, and purchasing the goods and services a business requires to carry out its operations. This can range from raw materials for production, to office supplies, to strategic partnerships.

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Procurement Supply Chain Efficiency Agile and Lean Supply Chain Quality 52

Una

AUGUST 9, 2023

This article delves into strategies for accelerating speed to savings in procurement without compromising on quality, integrity, and effectiveness. The Need for Speed: Why Organizations Pursue Faster Procurement Today’s organizations are under constant pressure to optimize their operations and deliver more with less.

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Procurement Supply Chain Efficiency Agile and Lean Supply Chain Quality 52

Empowering CPO

JUNE 16, 2023

This comprehensive visibility into an organization’s spend data is the cornerstone of strategic sourcing and purchasing decisions. Importance of Spend Analysis in Procurement In the context of procurement, spend analysis is an invaluable tool. Data Cleansing: Not all collected data is ready for analysis.

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Import Procurement Supply Chain Efficiency Real-time Visibility 52

Una

MARCH 6, 2024

Your Business Guide to Outsourced Procurement A comprehensive guide to outsourced procurement and the benefits of working with a group purchasing organization to save money, time, and effort. We’ll also reveal the benefits of outsourcing procurement to a group purchasing organization (GPO).

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Procurement Agile and Lean Supply Chain Purchasing Supply Chain Efficiency 52

Planergy

DECEMBER 29, 2022

Marketing procurement focuses on bringing in sales, where standard procurement focuses on things needed to keep the business running. Managing the challenges with best practices, including using procurement software for the marketing spend category helps simplify your process. What is Marketing Procurement?

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Zycus Cognitive Procurement

SEPTEMBER 13, 2022

This blog summarizes an exclusive on-demand webinar concluded by Zycus for the Nordics region with Bernard Gracia , Director & Dean at European Institute of Purchasing Management (EIPM) and Thomas Bioud , Regional VP, EMEA, Zycus. C²PO evangelizes and enforces sustainable procurement practices. Figure 1: Speakers of the session.

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Empowering CPO

JUNE 27, 2023

Within this domain, spend analysis plays a pivotal role in enabling informed decision-making and optimizing procurement processes. Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement.

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Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

Arkestro

AUGUST 15, 2022

ESG offers guidelines for the development of sustainable supply chain management strategies from the ground up. They can also manifest across the supply chain. For instance, it is not unusual for primary suppliers to apportion large orders to subcontractors or purchasing agents. Asset and Investment Optimization.

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Strategy Real-time Visibility Supply Chain Efficiency Suppliers 52

Planergy

JANUARY 19, 2024

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. Read on to learn more about how effective vendor analysis can help you streamline your supply chain management efforts! What's Planergy? What is Vendor Analysis?

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Una

JULY 6, 2022

Benefits of a Group Purchasing Organization. A guide to exploring the benefits of working with a group purchasing organization to save money, time and effort. A group purchasing organization leverages the collective purchasing power of thousands of businesses to secure lower prices for their members. Savings and beyond.

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Una

APRIL 9, 2024

How to (Actually) Transform Your Business with Group Purchasing Learn how to transform your business with group purchasing and add an average of 18-22% savings per category to your bottom line. I’m known to buy things on sale and shop around for the best price when making a larger purchase. I also like a good deal.

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Supply Chain Game Changer

NOVEMBER 15, 2018

Check out What Exactly Is Procurement? And What is Purchasing? And Group Purchasing Organizations (GPOs) are specifically designed to deliver benefits from Spend Aggregation. Procurement people are proud professionals. One of the key issues in having areas give your Procurement team spend control is expertise.

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