Procurement Tactics

JULY 4, 2023

To ensure that you get the best value for your money, it is essential that you get an understanding of the costs involved in producing a product or service. A should-cost model is a tool used by businesses to determine the estimated ideal cost of a product or service. How to Create a Should Model for Your Own Products?

Raw materials 209

Raw materials supply chain software solutions supply chain budgeting Price 209

ivalua

JUNE 14, 2023

Up front efforts to define roles and responsibilities, document requirements, integrate with other enterprise systems, and maximize the value of data will be rewarded in multiple forms well beyond the conclusion of the implementation. An Analysis by Ivalua Read More : What is Source to Pay Best Practice? Download Today!

Procurement 239

Procurement Change management Supply Chain Optimization supply chain budgeting 239

Procurement Tactics

JUNE 8, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Inventory Management — Everything You Should Know Inventory management enables companies to ensure that they always have enough stock to fulfill customer orders. However, what is it?

Inventory 187

Inventory Management Real-time Visibility Inventory control 187

ivalua

MAY 9, 2023

As the lynchpin to suppliers, they play a pivotal role in combatting the effects of inflation, ensuring supply continuity, complying with regulatory requirements, improving sustainability and other top business priorities. Furthermore, their rapidly shifting nature requires a new level of agility. The same applies internally.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Procurement Collaboration Supply Chain Efficiency 130

World of Procurement blog

MAY 8, 2024

Scope : Procurement spans the entire process from identifying requirements to contract closure. Provides key data insights through spend analysis that informs strategic decisions. Sources innovation by engaging suppliers in new product/service development. Purchasing is more transactional and tactical.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Tactics

MARCH 27, 2023

Although it always relates to demand and sales projections, forecasting can also be used to determine product pricing, lead times, labor needs, and more. The Importance of Forecasting in Supply Chain Timing is very important, especially for forecasting as it ensures that you have the right amount of product in stock.

supply chain budgeting 192

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 192

Supply Chain Trend

APRIL 25, 2024

John Gattorna’s Dynamic supply chains, delivering value through people (2010), describes in more detail, not only how to segment your supply chain in different customer driven streams and how to respond, but also what capabilities would be required in the organization. I was happy with my analysis, and so was my direct manager.

Agile and Lean Supply Chain 78

Agile and Lean Supply Chain Supply Chain Efficiency supply chain software solutions Supply chain 78

Spend Matters

SEPTEMBER 18, 2023

In this Spend Matters Insider Vendor Analysis Update, we give an updated and more complete overview of Resilinc (originally briefly covered in 2022), a solution built to reduce risks in supply chains to make them more resilient. Supply chains have been the focus of much news in the last few years. This is exactly the purpose of Resilinc.

Risk management 97

Risk management Risk Supply chain Management 97

Procurement Tactics

JUNE 28, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Commodity Trading — Everything You Should Know Commodity trading plays a vital role in the way of how our lives work and how the economy functions. What are Commodities?

Raw materials 178

Raw materials Supply Chain Efficiency Price Market analysis 178

ivalua

APRIL 20, 2023

Ivalua, a global leader in spend management , and its partner Axys Consultants today announced that Hutchinson has selected Ivalua’s eProcurement software to expand the scope of its currently implemented solution and meet its evolving procurement requirements. In 2022, it generated a revenue of €4.400 billion. Learn more at www.ivalua.com.

Eprocurement 130

Eprocurement Procurement Supplier relationship management Spend management 130

IBM Supply Chain Blog

APRIL 25, 2024

Enterprises demand prompt and accurate solutions to their technical issues, requiring support teams to possess deep technical knowledge and communicate action plans clearly. Product-embedded or online support tools, such as virtual assistants, can drive more informed and efficient support interactions with client self-service.

e2e 76

e2e Inventory Data Contract 76

IBM Supply Chain Blog

MAY 8, 2024

To achieve this, a meticulous comprehension of the client’s requirements, goals and challenges is essential. Some of the key use cases are as follows: Process analysis: Mine critical processes for process behaviors, deviations and KPIs.

Supply Chain Optimization 91

Supply Chain Optimization Collaboration Supply Chain Efficiency Innovation 91

Pipefy

MAY 14, 2024

These continuous changes require IT teams to reduce security incidents and address business challenges to keep their organizations competitive and effective. This approach can eliminate the silos that keep data in separate locations, creating a path to increased productivity. This process includes the following steps.

Change management 52

Change management Management Risk Project management 52

SCMDOJO

JANUARY 17, 2024

Even the aftersales service matters more than the delivery of the product. After receiving the returned product, the company decides whether to dismantle it and keep the useful parts, recycle it, repair the product, or scrap it as a whole. Or else it moves to the auditor for further analysis.

Supply Chain Efficiency 87

Supply Chain Efficiency Management Supply Chain Optimization Logistics 87

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. Define Clear Requirements Of course, with clear communication comes clear requirements.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

Spend Matters

JANUARY 4, 2024

In no order of preference, other than by the date they arrived in our inbox, today let’s hear from Pascal Bensoussan, Chief Product Officer of Ivalua. To reap the productivity benefits from GenAI, employees must use their knowledge and experience to apply them correctly. You can read our Ivalua Vendor Analysis here.

Procurement solutions 93

Procurement solutions Procurement Agile and Lean Supply Chain Supplier relationship management 93

Spend Matters

MARCH 20, 2023

Categories: Procurement Systems & Architecture , Spend Analysis Tags: PRO This Spend Matters PRO Vendor Analysis provides an overview of Mithra-Ai Solutions and its offering for spend analytics. Data in complex systems can be useful but often requires time and expertise to dig through it, which could create a bottleneck.

Buyers 82

Buyers Data Procurement 82

IBM Supply Chain Blog

MARCH 15, 2024

The solutions deployed included IBM® Application Discovery and Delivery Intelligence (ADDI), Cloud Transformation Insights (CTI), Analysis and Renovation Catalyst (ARC), Mainframe Application Modernizer (MAM) and Candidate Microservice Advisor (CMA).

Collaboration 101

Collaboration Quality Innovation Risk 101

Finale Inventory

JANUARY 15, 2024

ABC analysis is an inventory categorization approach that can help every seller manage their inventory better. This article will cover the basics of ABC inventory analysis, its importance in inventory management, and how it influences stock control and resource allocation decisions.

Inventory 52

Inventory Management Demand Strategy 52

SCMDOJO

MARCH 8, 2024

Reduction of Minimum Order Quantity (MOQ): MOQ refers to the minimum quantity of a product that a supplier is willing to sell. This strategy helps prevent overstocking of products that may not sell quickly, freeing up capital and storage space for other items. Optimize the process where required based on feedback and performance.

Supply Chain Optimization 80

Supply Chain Optimization Supply Chain Efficiency Inventory Strategy 80

SCMDOJO

SEPTEMBER 8, 2023

Supply chain professionals will be familiar with the term Material Requirements Planning (MRP). Understanding these metrics is critical for ensuring that production runs smoothly, inventories are optimized, and customer demands are met. Gross Requirements At the heart of MRP lies the concept of Gross Requirements.

Supply Chain Efficiency 82

Supply Chain Efficiency Supply Chain Optimization supply chain software solutions Agile and Lean Supply Chain 82

Pipefy

DECEMBER 20, 2023

Analytics is the analysis of data through the process of organizing, interpreting, discovering, and sharing patterns, trends, or insights. This analysis identifies risks, inefficiencies, and opportunities to streamline or optimize P2P workflows. To conduct a cost breakdown analysis, four steps are necessary: Data collection.

Import 52

Import Procurement Real-time Visibility Data 52

Spend Matters

MAY 31, 2023

Categories: Procurement Systems & Architecture , Supplier Management Tags: PRO This Vendor Analysis is the first of two that cover Bedrock’s SxM offering. There are multiple causes, one of which has to do with the workload required for proper data management. Bedrock is the new name of XPROfintech. Read more. )

Suppliers 76

Suppliers Data Buyers Procurement 76

World of Procurement blog

APRIL 23, 2024

This process not only influences the direct cost of production but also affects the overall efficiency of the project or organization. Effective procurement strategies require a deep understanding of market trends, supplier landscapes, and the latest technologies.

Procurement 52

Procurement Inventory control supply chain budgeting Real-time Visibility 52

World of Procurement blog

APRIL 23, 2024

This process not only influences the direct cost of production but also affects the overall efficiency of the project or organization. Effective procurement strategies require a deep understanding of market trends, supplier landscapes, and the latest technologies.

Procurement 52

Procurement Inventory control supply chain budgeting Real-time Visibility 52

Spend Matters

AUGUST 8, 2022

Medius has proven in our SolutionMap benchmark analysis to have a comprehensive P2P solution that is quite robust no matter where you start your implementation. The analysis concludes with an analyst summary. Read more. ).

Procurement solutions 76

Procurement solutions Procurement Strategy Suppliers 76

World of Procurement blog

APRIL 24, 2024

It is employed when a company seeks to understand what products, services, and suppliers are available in the market to meet its needs. Following this, an RFQ is used when detailed bids on products or services are required. Requirements : Specific requirements for the goods or services sought.

Procurement 52

Procurement Procurement strategies Bidding Innovation 52

Spend Matters

JANUARY 29, 2024

This year new laws have come with the heaviest enforcement and severity to date, requiring corporate engagement beyond policies and spot audits I was fortunate to play a small role in helping the first supply chain act get passed in California and have since helped companies comply with modern slavery laws in the US, UK, Europe and Australia.

Procurement solutions 95

Procurement solutions Supply Chain Efficiency Procurement Supply chain 95

Empowering CPO

JUNE 26, 2023

Explanation of Spend Analysis and its Importance in Healthcare In the ever-evolving landscape of the healthcare industry, optimizing costs and maximizing efficiency has become paramount. This is where spend analysis steps in as a powerful tool to help healthcare organizations gain deep insights into their procurement activities.

supply chain budgeting 52

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

Procurement Software

FEBRUARY 13, 2024

However, there are some general aspects to consider: Voluntary vs. Mandatory Reporting In many regions, reporting Scope 3 emissions is still voluntary but is increasingly being encouraged or required as part of broader sustainability reporting frameworks. Technology plays a crucial role in this process, with several key approaches.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Raw materials Quality 52

IBM Supply Chain Blog

APRIL 14, 2023

They faced obstacles such as a prolonged budget process, manual forecasting, and no product profitability. To meet their specific needs, the experts at 1Direction Global, comprised of certified accountants and engineers, turned to IBM Planning Analytics for Watson, a flexible and powerful planning and analysis tool.

Raw materials 74

Raw materials Budget Data Management 74

Arkestro

MARCH 27, 2024

And what are the skills and certifications required to become one? Let’s take a look at the ins and outs of procurement buying, including the job description, day-to-day tasks, educational requirements, key skills, helpful technology and more. But what does a procurement buyer do, exactly? What does a procurement buyer do?

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

IBM Supply Chain Blog

DECEMBER 18, 2023

The advantage of this approach is that the data is pre-processed and easy to digest, saving a lot of work on the back end to build, configure and manage analysis infrastructure. This is not a flood of raw data logs that overwhelms your storage capacity and requires a lot of effort to consume. In short, it is what you will actually use.

Networking 83

Networking Data Innovation Sourcing 83

IBM Supply Chain Blog

MAY 8, 2024

Security audit and consultation Many companies still underestimate the depth of security required, often relying solely on antivirus solutions. FreeDivision’s products and expertise distinctly stand out when conducting comprehensive security checks for clients.

Data 67

Data Collaboration Networking Risk 67

World of Procurement blog

APRIL 23, 2024

This software plays a pivotal role in automating and optimizing procurement tasks, thereby enhancing productivity and reducing costs. Its functionalities range from supplier management, purchase order management, invoice management, spending analysis, to electronic tendering, and contract management.

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency supply chain budgeting Procurement 52

World of Procurement blog

APRIL 23, 2024

This software plays a pivotal role in automating and optimizing procurement tasks, thereby enhancing productivity and reducing costs. Its functionalities range from supplier management, purchase order management, invoice management, spending analysis, to electronic tendering, and contract management.

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency supply chain budgeting Procurement 52

Planergy

JANUARY 19, 2024

Vendor analysis is crucial for risk management. That’s why vendor analysis is essential to any successful procurement process – it helps ensure that companies procure from reliable suppliers at competitive prices while adhering to applicable regulations. What is Vendor Analysis? What is a Vendor Analysis Report?

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52