Remove Product development Remove Real-time Visibility Remove Strategic sourcing
article thumbnail

Direct vs Indirect Procurement: Key Differences, Challenges, and Opportunities

ivalua

In this blog post, we will explore the key differences and challenges between direct and indirect procurement, sourcing strategies that can be employed, and examine how technology can modernize these procurement processes. Inventory-linked sourcing strategies ensure you’re not overcommitting or leaving gaps that could impact production.

article thumbnail

Supplier Collaboration: Fundamental to Elevating Manufacturing Performance

Jaggaer

In times of pressure and crisis , highly responsive and trustworthy suppliers make agility possible. Following widely-known standards keeps your vendor options open so you’re not locked into sourcing from a small pool of specialty suppliers that can negatively impact time to market. Performance and stability can waver.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A complete guide to operational procurement

TYA Suite

While it may not seem as strategic or high-profile as long-term sourcing deals, operational procurement is essential. It ensures that every team has the right resources at the right time, without delays or extra costs. that offers real-time visibility into orders, inventory, and supplier performance.

article thumbnail

Inflation & Procurement

Procurement Templates

ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. These indices track the average price changes of a basket of goods and services over time. What is inflation?

article thumbnail

The 25 Hottest US Procurement Startups

Procurement Software

Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game. It promises to assist with improving buyer and supplier collaboration.

article thumbnail

Supply Chain Collaboration – The New Way to Drive Value!

Supply Chain Game Changer

For the most part, the primary focus of the supplier relationship is ensuring the right materials are available at the right time and location. As a sourcing manager, you may need to go outside your comfort zone to think about new, innovative ways to collaborate for achieving sustainability because Collaboration comes in more than one flavor!

article thumbnail

Strategic Budgeting: What Is It, Process, and Best Practices

Planergy

How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These goals can include market expansion, new product development, revenue growth, or other objectives that drive your organization’s success.

Budget 52