Empowering CPO

JANUARY 28, 2024

At EmpoweringCPO, we excel in Strategic Sourcing Outsourcing , a methodical approach to procurement that emphasizes data-driven decision-making, market intelligence, and innovative procurement analytics tools. Building a skilled and knowledgeable workforce is essential for effective strategies.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Optimization 40

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

ProcurePort

AUGUST 6, 2020

As with any sort of team that is composed of various people with varying obligations, procurement teams are normally staffed with a spectrum of professionals and specialists. The post The Role of a Sourcing Specialist on a Procurement Team appeared first on ProcurePort Blog.

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Procurement team Sourcing Procurement Strategic sourcing 130

Procurement Leaders

JUNE 20, 2023

As such, we tend to see the maturity of categories evolve as the business gradually realises the value of strategic sourcing. Evolving category maturity in procurement First, directs and commodified markets are subject to greater oversight and control. This often occurs in a (relatively) consistent order.

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Procurement team Procurement Influencing Buyers 147

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? Spend analysis is the catalyst for strategic sourcing.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

ivalua

JUNE 26, 2023

Vishal Patel and Peter Hunt delivered their session ‘Creating Value with Strategic Sourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to category management and strategic sourcing.

Supply Chain Efficiency 244

Supply Chain Efficiency Strategic sourcing Strategic sourcing Procurement 244

Sourcing Solved

MARCH 15, 2022

Such outcomes also suggest that our approach to hiring procurement talent needs to change. In this article, I will provide my insights into why there is a lack of confidence with procurement teams and why there is such a considerable turnover. The post Should Organisations Use A Strategic Sourcing Approach To Recruit Talent?

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Strategic sourcing Strategic sourcing Sourcing Procurement 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

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.

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Sourcing Strategy Supply Chain Efficiency e2e 104

CPO Rising

OCTOBER 13, 2023

Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help procurement teams improve operations. We’ll also include a summary graphic for you to share with your team. In my years as a strategic sourcing consultant, I was […]

Strategic sourcing 52

Strategic sourcing Strategic sourcing Procurement team Suppliers 52

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. Data Quality: Accurate and clean data is essential for AI effectiveness.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

CPO Rising

JULY 28, 2023

Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help procurement teams improve operations. We’ll also include a summary graphic for you to share with your team. In my years as a strategic sourcing consultant, I was […]

Strategic sourcing 52

Strategic sourcing Strategic sourcing Suppliers Procurement team 52

Spend Matters

MARCH 8, 2023

Categories: Procurement Strategy & Planning , Procurement Systems & Architecture , Strategic Sourcing Tags: PRO In this Spend Matters PRO Vendor Analysis, we give an overview of akirolabs, a category strategy management solution built to support the transformation of procurement from a tactical function to the role of value orchestrator.

Strategy 75

Strategy Strategic sourcing Strategic sourcing Management 75

NLPA (Next Level Purchasing Association)

JANUARY 16, 2024

By working closely with suppliers to improve quality and efficiency, procurement can help your company deliver a superior product or service, ultimately driving sales growth. Fueling Innovation : The best procurement teams don’t just buy things; they act as strategic partners.

Procurement 52

Procurement Supply Chain Efficiency Procurement team Supply Chain Optimization 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

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

Procurement Heads

DECEMBER 7, 2022

Three years ago I was presented with the opportunity to bring my consulting skillset to procurement more officially at Paysafe and I am really pleased I made that move. How does procurement fit into Paysafe and the business model? The two key functional areas are strategic sourcing and category management.

Strategic sourcing 246

Strategic sourcing Strategic sourcing Vendor management Category management 246

Supply Chain Game Changer

NOVEMBER 26, 2018

Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management. In fact, it made me think of a specific chapter I read from Magnus Carlsson’s Strategic Sourcing and Category Management: Lessons Learned at IKEA.

Procurement team 43

Procurement team Supplier relationship management Procurement Suppliers 43

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

Una

MAY 3, 2023

Josh connected with The Sourcing Hero team in a very unique way… he is a regular listener and had the creative idea to ask ChatGPT what a Sourcing Hero is. They possess the ability to manage complex sourcing projects while aligning strategies with business goals.

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Strategic sourcing Strategic sourcing Ethics Negotiation 89

Procurement Tactics

JUNE 7, 2023

Proper utilization of this metric yields a crucial understanding of the procurement organization’s efficiency in achieving cost reduction objectives. Procurement teams often use these prices as a reference point to evaluate bids. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4.

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Price Purchasing Raw materials Negotiation 130

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

CPO Rising

NOVEMBER 11, 2022

As Chief Procurement Officers (“CPOs”) and procurement practitioners move into the year ahead, they have the need and the capability for advanced technology solutions to automate and link the source-to-settle process – upstream, strategic sourcing and downstream, procure-to-pay (“P2P”).

Chief Procurement Officer 52

Chief Procurement Officer Procurement Strategic sourcing Strategic sourcing 52

ivalua

AUGUST 17, 2021

Procurement can and should be a significant value generator for the larger organization. There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: . Click here to talk to Ivalua about your Procurement strategy. Both are essential to the success of every business.

Procurement 130

Procurement Procurement team Sourcing Supplier relationship management 130

Arkestro

SEPTEMBER 29, 2023

Why is autonomous procurement important? Procurement teams run at the highest level of efficiency with autonomous procurement. It empowers procurement professionals to focus on high-yield, valuable work, rather than on routine and menial tasks.

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

ivalua

MARCH 24, 2021

Most of the benefits that can be realized by manufacturing procurement organizations are gained through external collaboration with suppliers and partners – which ERP systems, internal portals, and Excel spreadsheets are not designed to handle. . Digitization Benefit #2: Strategic Sourcing Alignment.

Supply Chain Efficiency 130

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Supply chain 130

Una

DECEMBER 20, 2022

It typically involves a competitive process and will be overseen by procurement leaders or a cross-functional category team. A strategic sourcing strategy is key to ensuring vendors with the potential to deliver the most value. Procurement teams should identify where and how their processes can be better streamlined.

Management 98

Management Buyers Procurement team Contract 98

ivalua

JUNE 1, 2022

When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Why is visibility so important?

Supply chain resilience 130

Supply chain resilience Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 130

Empowering CPO

FEBRUARY 19, 2023

Evaluation of the vendor’s qualitative response is one of the most important phases for the successful execution of the Strategic sourcing process. The key here is to wear their shoes to run the strategic sourcing process. The goal is to find high-quality vendors with the lowest prices and hence higher savings.

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Strategic sourcing Strategic sourcing Quality Category management 52

ivalua

MARCH 16, 2021

Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. Strategic sourcing professionals may end up doing tactical work, as well.

Supply chain resilience 130

Supply chain resilience Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 130

ivalua

DECEMBER 21, 2021

It also increased the efficiency and speed to market for all sourcing users, while providing visibility and ability for procurement professionals in the center-led procurement team to provide strategic support.

Contract 130

Contract Sourcing Suppliers Data 130

ProcurePort

JUNE 16, 2021

Procurement teams are always on the lookout for ways to reduce source-to-pay timeframes, maximize value, mitigate sourcing risk, and efficiently manage to spend. According to Gartner, the typical requisition-to-order cycle time for simple categories is just four hours while that of more complex categories is 30 days.

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Sourcing Procurement Procurement team Risk 130

Procurement Software

APRIL 23, 2024

Located in Amsterdam, Netherlands, the company leverages advanced AI technologies to enhance procurement processes, focusing on efficiency and data visibility. This functionality ensures that procurement teams can respond swiftly and effectively to changing market conditions, enhancing their strategic impact.

supply chain software solutions 52

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

CPO Rising

APRIL 12, 2024

Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help procurement teams improve operations. We’ll also include a summary graphic for you to share with your team.

Procurement 52

Procurement Procurement team Strategy Chief Procurement Officer 52

Arkestro

NOVEMBER 17, 2022

. “What if every sourcing event learned from the combined history of every sourcing event your team has ever run? Using our patented simulations and live suggestions, procurement teams using Arkestro are able to instantly tap into the best decisions of their best people in real time,” said CEO Edmund Zagorin.

Bidding 52

Bidding Market analysis Strategic sourcing Strategic sourcing 52

ivalua

APRIL 19, 2022

Kicking off the day with our first keynote, Ivalua’s Founder and CEO David Khuat-Duy will present his reimagined vision in a post-pandemic world, leveraging digital transformation to restore growth, and igniting new opportunities for procurement teams and suppliers.

Chief Procurement Officer 130

Chief Procurement Officer Supply Chain Optimization Eprocurement Innovation 130

Skill Dynamics

OCTOBER 19, 2023

A generic approach to training is not the solution to the increasing range of challenges facing procurement teams. This means that skills enhancement across wider roles is required for procurement professionals, with a focus on role-specific learning. Seamless communication and collaboration between procurement teams.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain supply chain software solutions 52