Empowering CPO

JUNE 22, 2023

Two critical aspects that play a pivotal role in this regard are Spend Analysis and Sustainable Procurement. It involves the collection, classification, and evaluation of expenditure data with the goal of decreasing procurement costs, enhancing efficiency, and monitoring compliance.

Sustainability 52

Sustainability Procurement Supplier consolidation Supply Chain Efficiency 52

ivalua

JUNE 6, 2019

Managing Director, Art of Procurement. Everything procurement delivers – from savings to risk mitigation to value – is predicated on having access to clean, trustworthy data. He gave a keynote presentation about his company’s procurement and supply chain transformation journey – one that is still underway.

Suppliers 100

Suppliers Supplier consolidation Supply Chain Efficiency Data 100

NLPA (Next Level Purchasing Association)

MAY 8, 2024

In today’s competitive business landscape, procurement professionals constantly seek ways to optimize costs and maximize value. This blog post will explore how procurement professionals can leverage the power of spend analysis while incorporating other strategies to develop a well-rounded approach to cost savings.

Real-time Visibility 52

Real-time Visibility Supplier consolidation Suppliers Collaboration 52

Procurement Software

MAY 30, 2023

Procurement continues to grow in stature. With this, the question of indirect procurement maturity must be tackled. However, there has been a trend happening over the last 10 or so years to incorporate more indirect spend under the management of corporate procurement teams. What is your total vendor count ?

Procurement 52

Procurement Procurement team Purchase orders Contract 52

Empowering CPO

JUNE 27, 2023

Introduction In the complex world of procurement, where every penny counts, gaining a deep understanding of your organization’s spending habits is crucial to unlocking value and maximizing savings. Why is spend analysis so important in procurement? Imagine trying to navigate a labyrinth without a map or compass.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

Empowering CPO

JUNE 16, 2023

Brief Overview of Spend Analysis Spend analysis is a process that involves collecting, cleansing, classifying, and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance. In essence, spend analysis empowers procurement teams to turn data into strategic action.

Import 52

Import Procurement Supply Chain Efficiency Real-time Visibility 52

Procurement Heads

JUNE 28, 2022

According to Raconteur’s report in The Sunday Times on the Future of Supply Chain & Procurement, constant problems in the supply chain have proved a real headache for many businesses over the past two years. But that balanced scorecard has always been there in the best procurement organisations.

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Chief Procurement Officer Supply Chain Optimization supply chain budgeting Innovation 130

Empowering CPO

JUNE 27, 2023

Introduction Unleashing the Power of Spend Analysis for Procurement Success In the world of procurement, data is the key to unlocking strategic decision-making and maximizing cost savings. Spend analysis, the process of comprehensively evaluating an organization’s expenditures, plays a pivotal role in driving procurement success.

Procurement 52

Procurement Supply Chain Optimization Real-time Visibility Procurement strategies 52

Una

JULY 26, 2022

Take IT in procurement as an example. Investment in procurement technology provides the opportunity to centralize your spend data, boosting visibility, reducing risk, and (crucially) enabling spend analytics. Tips for Building an Effective Procurement Data Strategy. Failing to make full use of system features. Related Posts.

supply chain software solutions 98

supply chain software solutions Supplier consolidation Purchasing Contract 98

Planergy

JANUARY 19, 2023

Download Free Copy Pareto Analysis in Procurement: How To Use Spend Analysis To Cut Costs Written by Keith Murphy 16 min read Big Data Business Intelligence (BI) Spend Analysis Download PDF IN THIS ARTICLE Pareto Principle vs. The Benefits of Conducting a Pareto Analysis How to Conduct Your Own Analysis? What is Pareto Analysis?

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Empowering CPO

JUNE 20, 2023

Spend analysis is the process of collecting, cleansing, classifying, and analyzing expenditure data with the purpose of reducing procurement costs, improving efficiency, and monitoring compliance. Spend analysis plays a vital role in procurement and strategic sourcing. Stay tuned! Examples Raw materials, manufacturing equipment.

Supplier consolidation 40

Supplier consolidation Negotiation Suppliers Procurement strategies 40

Empowering CPO

JUNE 26, 2023

This is where spend analysis steps in as a powerful tool to help healthcare organizations gain deep insights into their procurement activities. This unique landscape presents numerous challenges and complexities for healthcare organizations when it comes to managing their procurement activities effectively.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Una

FEBRUARY 22, 2023

How to Use GPOs as a Cost Savings Strategy Discover how procurement leaders can join a GPO and use group purchasing as a cost savings strategy to deliver continued value. Procurement leaders face similar challenges when the pressure to deliver cost savings is unrelenting and you feel like you’re running out of options.

Strategy 52

Strategy Purchasing Supply Chain Efficiency Supplier consolidation 52

Supply Chain Game Changer

JUNE 30, 2022

Consolidation. Supplier consolidation is a major player in supply chain strategy. Analyzing a supplier’s performance to help rein in your business’s core suppliers helps cut down on unnecessary spending. View your supply chain in real-time to give you the power to adapt as demands shift.

Agile and Lean Supply Chain 78

Agile and Lean Supply Chain Supply Chain Efficiency supply chain budgeting Supply Chain Optimization 78

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. Developing KPIs is crucial, and individual, to the infrastructure of your Procurement team.

Procurement team 56

Procurement team Procurement Sustainability Suppliers 56

The Procuretech Podcast

OCTOBER 19, 2021

We’re back with part 2 of a 3 part series of live episodes recorded at Procurement Summit in Berlin on 29 and 30 September 2021. Hot Digital Procurement Startups which Utilise AI and Game Theory to Deliver their Solution. Whether it’s looking at market data, supplier data, communicating with suppliers, switching systems etc.

Procurement 40

Procurement Negotiation Sourcing Procurement team 40

Empowering CPO

JUNE 27, 2023

Introduction Unveiling the untapped potential of spend analysis In the dynamic world of procurement, where businesses strive to optimize costs, drive efficiency, and foster long-term partnerships, one often overlooked yet powerful tool holds the key to unlocking untapped potential: spend analysis.

Supplier relationship management 52

Supplier relationship management Suppliers Management Negotiation 52

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

Supply Chain Efficiency 16

Supply Chain Efficiency Purchase orders Procurement Bidding 16

Empowering CPO

JUNE 20, 2023

In the realm of procurement, every corner of the spend landscape deserves attention, and an often overlooked area is the ‘tail spend’ A. These are often lower-value, infrequent purchases made off-contract, which can escape the radar of traditional procurement strategies due to their seemingly insignificant individual costs.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

Una

AUGUST 17, 2022

This comprehensive guide will go over tail spend in procurement and provide resources for how to implement an effective tail spend management strategy. This shape represents your entire procurement spend. The figure’s head represents the top 1% of strategic suppliers to your organization. Taming Tail Spend.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

Empowering CPO

JUNE 20, 2023

Introduction In the dynamic world of procurement and supply chain management, understanding your organization’s spending habits isn’t just an administrative duty—it’s a strategic necessity. We are a leading procurement services company specializing in providing tailored spend analysis services and offerings.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Supply Chain Efficiency Data 40

Empowering CPO

JUNE 20, 2023

It offers a granular view of procurement activities, helping organizations identify cost reduction opportunities, manage supplier performance, mitigate risks, and ultimately, make better, data-informed decisions. When applied to Supply Chain Management, Spend Analysis serves as an invaluable tool.

Supply chain management 40

Supply chain management Supply chain management supply chain budgeting Supply Chain Efficiency 40

Empowering CPO

JUNE 25, 2023

In the realm of procurement and supply chain management, one tool stands out as a game-changer — Spend Analysis. Spend Analysis is a process where procurement data from various sources are collected, cleansed, categorized, and analyzed. The significance of Spend Analysis in procurement and supply chain management cannot be overstated.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain budgeting Real-time Visibility Data 52

Empowering CPO

JUNE 21, 2023

Introduction Spend analysis, at its most basic, is a process that involves the collection, cleansing, classification, and analysis of expenditure data, with the goal of reducing procurement costs, improving efficiency, and monitoring compliance. The importance of spend analysis in procurement and financial management cannot be overstated.

Purchase orders 52

Purchase orders Data Purchasing Suppliers 52

The Procuretech Podcast

OCTOBER 5, 2021

Managing this through traditional channels - i.e. ERP systems - is a cumbersome process for both the procurement professional who has to manage it, and the stakeholder who just wants a simple, user-friendly interface to be able to buy something. Lhotse views "tactical spend" as: Being non-managed spend by procurement.

Competitive bidding 40

Competitive bidding Bidding Buyers Procurement 40

Planergy

MARCH 2, 2023

Tail spend analysis also helps procurement professionals identify areas of wasteful spending and uncover potential savings. Identify Your Supplier Base When conducting a tail spend analysis, it’s important to understand your supplier base. When left unmanaged, tail spend can cost an organization millions of dollars.

supply chain budgeting 52

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

HICX

JULY 13, 2023

At both the Americas Procurement Congress and World Procurement Congress 2023 , we took a deep dive into the world of the supplier portal, dispelling some myths and hearing from Johnson & Johnson and Heineken about their views on this topic. We had no better way to share information than just an email to the suppliers.”

Suppliers 52

Suppliers Procurement Collaboration Procurement team 52

Claritum

AUGUST 23, 2019

Claritum Article - Procurement Blog. Achieving results with supplier diversity. You may have many components to your strategy that could include achieving product specification improvements, packaging improvements, delivery improvements, best value pricing, reducing supply risk and supplier consolidation of volume for example.

Supply 32

Supply Agile and Lean Supply Chain Suppliers Supply chain 32

Supply Chain Game Changer

JANUARY 9, 2019

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. Regardless of your position or situation it is highly valuable to understand the type of interview questions, and answers, appropriate for Procurement and Purchasing professionals. It can appear useless.

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

Claritum

AUGUST 23, 2019

Claritum Article - Procurement Blog. Achieving results with supplier diversity. You may have many components to your strategy that could include achieving product specification improvements, packaging improvements, delivery improvements, best value pricing, reducing supply risk and supplier consolidation of volume for example.

Supply 36

Supply Agile and Lean Supply Chain Suppliers Contract 36