Skill Dynamics

DECEMBER 18, 2024

This article aims to help you understand different procurement fraud risks, arm you with a set of effective strategies for managing procurement fraud, and help you understand the true benefits of effective procurement fraud management. Inconsistencies between purchase orders and invoices are another thing to watch for.

Risk 52

Risk Strategy Supply Chain Efficiency Procurement 52

Fraxion

OCTOBER 30, 2024

In many organizations, purchasing goods and services can be a tangled web of emails, paper forms, spreadsheets, and approval bottlenecks. Employees often struggle to track request statuses and chase approvals, while finance teams work to maintain control, slowing operations and increasing financial risks.

Purchasing 49

Purchasing Budget Risk Management 49

Procurement Insights

FEBRUARY 18, 2025

EDITOR’S NOTE: I have recently completed a preliminary analysis of Packaging & Container Companies’ challenges to enable greater supplier collaboration and automation around the purchase order process, including PO confirmations, shipment notices, and price/quantity changes.

Purchase orders 52

Purchase orders Collaboration Purchasing Suppliers 52

Procurement Templates

NOVEMBER 21, 2024

Analyze Total Cost of Ownership (TCO): Incorporate factors like lifecycle costs, maintenance, and disposal into purchasing decisions. Audit Supply Chains: Identify and address environmental and social risks in the supply chain. Monitor Continuously: Use procurement dashboards to track risk indicators. LEED Green Associate).

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Spend Matters

DECEMBER 23, 2024

Risk reduction: The platforms compliance features (e.g., GDPR alignment, secure data storage) reduce organizational risk. By automating routine tasks, procurement teams can focus on strategic initiatives, which appeals to CFOs and finance teams.

Procurement 123

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Supplier consolidation 123

Spend Matters

OCTOBER 16, 2024

Financial risk relates to the possible financial problems faced by a buying organization’s suppliers, its suppliers’ suppliers (and so on) or other third parties. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. What causes financial risk?

Risk 117

Risk Risk management Suppliers Raw materials 117

TYA Suite

MAY 3, 2025

Ever confused purchase orders with sales orders? In any business, whether you're buying goods or selling them, it's essential to understand how purchase orders (POs) and sales orders (SOs) work. For example, if a purchase order isnt processed correctly, it could throw off your inventory, leading to stock shortages or overstock.

Purchase orders 40

Purchase orders Purchasing Buyers Quantity 40

TYA Suite

MAY 3, 2025

Back then, businesses relied on paper purchase ordersphysical forms filled out by hand, signed, mailed, or faxed to suppliers. Today, digital purchase order are part of a larger trend toward automation, integrating with accounting software, inventory systems, and analytics tools to create smarter, more efficient supply chains.

Purchase orders 40

Purchase orders Purchasing Supply Chain Efficiency supply chain budgeting 40

Spend Matters

DECEMBER 16, 2024

Effective and efficient tariff management is rooted in robust direct materials and supply chain risk management. Supply Chain Risk Management (SCRM) complements this by systematically identifying and mitigating supplier risks, such as financial instability, geographic vulnerabilities and inconsistencies in supplier operations.

Agile and Lean Supply Chain 112

Agile and Lean Supply Chain Management Supply Chain Efficiency Supply Chain Optimization 112

TYA Suite

APRIL 13, 2025

Every business, big or small, relies on purchasing goods and services to keep operations running smoothly. But without a clear system to manage these purchases, things can quickly spiral into A mess delays, overspending, or even errors. What is a Purchase Order Approval Workflow? unauthorized vendors or overspending). :

Purchase orders 40

Purchase orders Purchasing Real-time Visibility Budget 40

Una

APRIL 18, 2023

EPISODE 111 Taking Intelligent Risks with Mark Trowbridge By Kelly Barner | April 19, 2023 We’ve all been mired in years of paralyzing risk and disruption… but could risk taking be just what this moment calls for? Yes – as long as the risks are “intelligent risks.”

Risk 133

Risk Supplier relationship management Contract management Supply Chain Efficiency 133

Spend Matters

FEBRUARY 4, 2025

Gather a deep understanding of historical purchasing performance : Identify what worked, what didnt, what part of your process needs clarity, and which part is too rules-driven. Maintain an agile mindset and continually enhance your process to address new types of spend and the associated risks that come with it. Want to learn more?

Procurement 105

Procurement Purchasing Negotiation Buying process 105

TYA Suite

APRIL 13, 2025

When your business is small, using spreadsheets or sticky notes to track purchases might seem easy. It saves time, reduces mistakes, and gives you a clear view of all purchases, helping you make better decisions. Once approved, the business selects a trusted supplier, negotiates terms, and sends a purchase order.

Purchasing 40

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

Procurement Insights

FEBRUARY 21, 2025

Network Intelligence: Learns from market trends, supplier performance, and risk factors to optimize sourcing and supplier management. Centralized Procurement Request System: Employees submit purchase requests through a unified intake tool , which then routes them to the correct procurement solution (e.g.,

Supply Chain Optimization 75

Supply Chain Optimization Contract management Networking Contract 75

SCMDOJO

JANUARY 9, 2025

It involves a methodical approach aimed at developing long-term supplier relationships, mitigating risks, and improving overall cost efficiency. Enhancing Competitive Advantage Strategic sourcing creates a sustainable competitive edge by combining cost savings, risk management, and supplier innovation.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Procurement 98

Spend Matters

MAY 6, 2025

Mitigating financial risks related to currency fluctuations, interest rates and supplier defaults. Streamlining purchasing processes to enhance efficiency and reduce administrative delays. Finance’s cash flow priorities The finance function manages cash flow with a focus on: Maximizing DPO to optimize working capital.

Supply Chain Optimization 80

Supply Chain Optimization Real-time Visibility Supply Chain Efficiency Procurement 80

ivalua

JANUARY 31, 2023

This puts the Procurement function in a central role towards establishing a transparent emissions baseline using reliable data and collaborating with suppliers on carbon savings plans to meet reduction targets and for reporting and risk assessment. Learn more at www.ivalua.com.

Supply Chain Efficiency 246

Supply Chain Efficiency supply chain software solutions Supply chain Innovation 246

Spend Matters

APRIL 10, 2025

This expansion of compliance requirements translates directly into more administrative workload, higher risk of error and potential bottlenecks at US ports. But even so, this latest test is a clear reminder that risks come from all angles, and not all of them can be forecasted.

Procurement 101

Procurement Raw materials Risk Supply chain 101

Procurement Tactics

MARCH 16, 2023

It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. When strategic procurement is done correctly, it can help an organization to optimize its profit margin, reduce risks, and streamline the process of purchasing goods and services needed to achieve business goals.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Spend Matters

APRIL 15, 2025

Procurements most valuable players Jesus Campos , CEO CorporateLATAM, once wrote on Spend Matters that procurement functions must address two key areas to navigate the uncertainty of global markets: risk management and organizational structure the latter being relevant to our discussion on procurement transformation. The Risk Manager.

Procurement 101

Procurement Category management Chief Procurement Officer Risk management 101

Spend Matters

MAY 14, 2025

The product (Guided Strategy Creation ) gives procurement teams a consistent way to define category strategies, document risks and objectives, and track results. It also helps procurement teams make the case for their work not just in savings, but in alignment, risk reduction and business impact. That includes Coupa itself.

Category management 95

Category management Spend management Management Sourcing 95

ivalua

MAY 31, 2022

Supplier Relationship Management (SRM) is not limited to transactional information (number of purchase orders, number of catalog items, number of supplier invoices ) or legal/contractual requirements. Learn to manage and control your suppliers to improve your purchasing efficiency and expand your supplier base. .

Suppliers 246

Suppliers Supplier relationship management supply chain software solutions Agile and Lean Supply Chain 246

SCMDOJO

DECEMBER 29, 2024

Key takeaways Importance of Procurement Procurement vs. Purchasing Key Functions Departmental Structure Role Descriptions The blog emphasizes the significance of a well-structured procurement department with qualified personnel to achieve organizational objectives. Read In Detail About Procurement Department Here 2.

Supply Chain Efficiency 93

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 93

Procurement Tactics

APRIL 6, 2023

We will also tell you how you can analyze your supply chain and how you do an initial risk assessment. However, to start with, you must first analyze your supply chain by starting to create an inventory of products and services you purchase, produce, and sell. However, how do you do it? How can it be improved? Then look no further.

Supply chain analysis 226

Supply chain analysis Sustainability Supply Chain Efficiency Supply Chain Optimization 226

Spend Matters

OCTOBER 29, 2024

Solutions around ESG, risk, intake & orchestration come to mind. Nikhil Gaur, Spend Matters Director, Strategic Projects & Research Analyst, summed up the achievement as follows: “Spend Matters tracks some 1,500+ procurement and supply chain technology and services providers.

supply chain software solutions 117

supply chain software solutions Supply chain Procurement Innovation 117

ivalua

FEBRUARY 8, 2023

As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. Additionally, procurement technology can help organizations improve compliance with regulations and reduce risk.

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

Procurement Tactics

NOVEMBER 24, 2022

Consumers are starting to take action through their purchasing decisions and other initiatives to protect the environment. Responsible sourcing or ethical sourcing is all about ensuring that the products are purchased in a responsible way from ethical suppliers. Responsible sourcing can help you protect from these risks. .

Sourcing 193

Sourcing Ethics Sustainability Supply chain 193

Procurement Tactics

APRIL 17, 2023

As sustainability is a growing focus in many industries around the world, many businesses are integrating it, especially consumers who are demanding to know where the products they purchase come from. As a result, it future-proofs the company’s sustainable purchases and investments by integrating sustainable policies.

Sustainability 182

Sustainability Suppliers Influencing Purchasing 182

Procurement Tactics

APRIL 5, 2023

As sustainability is a growing focus in the world, many businesses are integrating it, especially consumers who are demanding to know where the products they purchase come from. As a result, it future-proofs the company’s sustainable purchases and investments by integrating sustainable policies.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

Procurement Tactics

MAY 30, 2023

Procurement managers, also known as purchasing managers, supervise a company’s relationship with suppliers and the logistics of transportation. They manage the sourcing and purchasing of goods and services that the organization requires to operate effectively. What is a Procurement Manager?

Management 178

Management supply chain budgeting Procurement Negotiation 178

ivalua

DECEMBER 15, 2022

Ivalua platform selected to improve efficiency, transparency, and the employee purchasing experience. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk and improving employee productivity.

Supply Chain Efficiency 246

Supply Chain Efficiency Procurement Agile and Lean Supply Chain Spend management 246

Procurement Tactics

JUNE 28, 2023

It enables managers and businesses to minimize costs, prevent and mitigate risks, and essentially identify issues and problems early on in the procurement process. Purchase Orders Purchase orders are where the monitoring of the creation and approval of purchase orders comes in. The key elements are typically: 1.

Supply Chain Efficiency 178

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

Procurement Heads

JULY 6, 2022

From then I started exploring purchasing and the different career avenues I could get into. We are responsible for the procurement of strategic purchases and what that means for us is anything that is high value, high-risk, third-party engagements.

Networking 241

Networking Supplier relationship management Procurement Risk 241

ivalua

SEPTEMBER 13, 2020

It is imperative that any organization has procedures and systems in place to minimize bureaucracy, error, risk and inefficiencies. Reduced errors, fraud and risk. Pain-Point: Purchasing compliance and collaboration. Pain-Point: Manage supplier risk and visibility. Supplier, contract, legal tax and policy compliance.

e2e 204

e2e Procurement Budget Contract 204

Procurement Insights

APRIL 4, 2025

Paul Nilsen, Purchasing Manager Willis North America (New York, NY) My Response In Part 4 of my Changing Face of Procurement Conference Series titled Winning Strategies for Vendor Engagement, I briefly discuss an M&A case reference involving organizations within the confection or candy industry.

Agile and Lean Supply Chain 81

Agile and Lean Supply Chain supply chain software solutions Supply Chain Optimization e2e 81

Procurement Leaders

MARCH 10, 2023

Risk has become an increasingly important focus for Stockholm-headquartered consumer goods giant Electrolux, which has thousands of Tier-1 suppliers. For Mirela Boldu, senior programme manager – supplier risk management, managing these threats is crucial to the function.

Collaboration 147

Collaboration Supply chain Management Risk management 147

Spend Matters

FEBRUARY 18, 2025

More concretely, Xavier Olivera , Spend Matters Lead Analyst for Downstream Procurement, once explained that since entering the permacrisis environment of the post-pandemic world, the balance of power in purchasing has shifted : Traditionally, the buyer held the purchasing power. They could squeeze a suppliers profits.

Procurement 87

Procurement Purchasing Suppliers Procurement team 87