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

Una

MAY 25, 2023

Managing Procurement Risk with a Group Purchasing Organization Explore how a group purchasing organization can be an effective solution for managing procurement risk and improving overall procurement processes. Challenges of procurement risk management Why is procurement risk management so difficult?

Purchasing 96

Purchasing Risk Management Procurement 96

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 102

Procurement Category management Chief Procurement Officer Risk management 102

SCMDOJO

JANUARY 9, 2025

Enhancing Competitive Advantage Strategic sourcing creates a sustainable competitive edge by combining cost savings, risk management, and supplier innovation. Predictive Risk Management Smart solutions equipped with predictive analytics can help foresee potential riskssuch as supplier insolvency or geopolitical eventsbefore they occur.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Procurement 98

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 Leaders

JANUARY 16, 2023

“The last couple of years have really shown businesses the value of procurement – and not just as a purchasing function/PO function, but the strategy of procurement and the value we bring in managing risk,” she says. ” Leveraging long-standing risk management expertise.

Risk 246

Risk Management Risk management Strategic planning 246

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

MARCH 23, 2023

Digital platforms can help the source-to-contract process to be more manageable as it allows for automated bidding, digital purchase orders, online payments, and supplier collaboration. In this stage, you will need to issue an RFQ or RFP if you are sure to make a purchase and you know the specifics of what you want to buy.

Contract 156

Contract Sourcing Purchase orders Bidding 156

ProcurePort

AUGUST 15, 2022

• Vendor management is the sum of all activities a company undertakes to maximize the value of the relationship they have with its vendors. This includes but is not limited to listing probable vendors, comparing prices, quality checks, cost control, and risk management. The post What is Vendor Management?

Vendor management 130

Vendor management Management Risk management Quality 130

Procurement Leaders

MARCH 10, 2023

For Mirela Boldu, senior programme manager – supplier risk management, managing these threats is crucial to the function. “We are not only focused on cost-reduction, but also added value when we talk about sustainability, innovation and risk avoidance.

Collaboration 147

Collaboration Supply chain Management Risk management 147

Procurement Leaders

DECEMBER 9, 2022

Here, we talk to Luigi Ganazzoli, vice president of purchasing, about some of those challenges and what he and his team are doing to mitigate them. Our challenges are linked to digitalisation, risk management and inflation. Digital, risk management and relationship-building skills. Why are they so important?

Risk 130

Risk Suppliers Risk management Buyers 130

Procurement Tactics

NOVEMBER 23, 2022

It includes easy access to capital and markets, increased profits, improved brand image, gaining more customers, and better decision-making and risk management processes. . The widespread neglect is linked to the practical challenges of purchasing goods and contracting services that align with CSR goals. .

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Procurement Insights

JANUARY 3, 2025

20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Analytics and insights from procurement data were minimal.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Procurement Tactics

JUNE 28, 2023

Commodity Trading is also a vital aspect of the Global Economy; Providing price discovery, risk management, and efficient resource allocation. Spot Trading Spot trading involves the immediate and direct purchase or selling of a commodity, typically conducted within a short timeframe.

Raw materials 178

Raw materials Supply Chain Efficiency Price Market analysis 178

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. Flexibility: Another way to reduce risk is to build flexibility into your supply contracts.

Supply chain resilience 242

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

Procurement Tactics

JUNE 28, 2023

Purchase Orders Purchase orders are where the monitoring of the creation and approval of purchase orders comes in. Delivery and Logistics The status of goods and services purchased, such as their delivery timelines, transportation times, or receipt is monitored. The key elements are typically: 1.

Supply Chain Efficiency 178

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

ivalua

FEBRUARY 25, 2021

Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care? Efficient warehouse management.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Procurement Tactics

OCTOBER 18, 2022

It integrates departmental information into a single software platform for you to manage procurement and purchasing tasks. . Although it has business-wide applications, SAP Business One offers purchasing functions such as quotation requests, approvals, and good receipt purchase order updates.

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

ivalua

OCTOBER 22, 2020

With employees increasingly expecting the purchase order process to be as simple as consumer-shopping, it is not just a matter of their productivity but also satisfaction. Procure-to-Pay Software mitigates financial risk. Procure-to-Pay Software mitigates financial risk.

supply chain software solutions 147

supply chain software solutions Procurement Real-time Visibility supply chain budgeting 147

Spend Matters

MARCH 25, 2025

One of the most effective ways to achieve this is by using data-driven storytelling to showcase procurements role in cost savings, efficiency gains and risk management.

Stakeholder engagement 97

Stakeholder engagement Management Procurement Influencing 97

Procurement Templates

MARCH 7, 2024

A procurement playbook is a comprehensive document or set of guidelines that outlines the processes, procedures, best practices, and standards for managing procurement activities within an organization. It serves as a reference guide for procurement professionals and other stakeholders involved in purchasing goods and services.

Supply Chain Efficiency 130

Supply Chain Efficiency Procurement Ethics Contract management 130

Spend Matters

SEPTEMBER 19, 2024

See our Risk Management in-depth guide. New ‘My Marketing’ functionality We’re also excited to announce the launch of a new capability within SolutionMap Insider that allows for tailored, generated images to illustrate vendor comparisons.

Risk management 125

Risk management Procurement Risk Contract 125

Procurement Tactics

MAY 30, 2023

What is a Procurement Manager? Procurement managers, also known as purchasing managers, supervise a company’s relationship with suppliers and the logistics of transportation. Procurement managers are responsible for overseeing the procurement activities of an organization.

Management 178

Management supply chain budgeting Procurement Negotiation 178

Spend Matters

JANUARY 23, 2025

This is a cost to the organization on top of the hard cost required to evaluate, purchase and operationalize an accurate, vetted dataset for the many categories a typical company might be buying.

Price 107

Price Negotiation supply chain software solutions Supply Chain Optimization 107

Jaggaer

FEBRUARY 28, 2025

However, simply cutting costs isnt a sustainable strategy CPOs must move beyond tactical price reductions and embrace strategic cost management. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing. This should include contingency plans for key suppliers and critical materials.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Supply Chain Optimization Real-time Visibility 52

Spend Matters

MAY 8, 2025

Instead of prioritizing the newest features, procurement leaders must evaluate tools based on how well they address core objectives, such as cost optimization, risk management and operational efficiency. Is this technology too general, and if so, have we considered a best of breed?

Procurement 63

Procurement Cost of ownership Stakeholder engagement Contract 63

Procurement Templates

JUNE 18, 2023

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. However, high or unpredictable inflation can create economic instability and erode people’s purchasing power, leading to decreased consumer confidence and investment.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Una

APRIL 9, 2024

How to (Actually) Transform Your Business with Group Purchasing Learn how to transform your business with group purchasing and add an average of 18-22% savings per category to your bottom line. I’m known to buy things on sale and shop around for the best price when making a larger purchase. I also like a good deal.

Purchasing 52

Purchasing supply chain budgeting Real-time Visibility Supply Chain Optimization 52

Spend Matters

OCTOBER 16, 2024

Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. What causes financial risk? Financial risk is inherent to the business uncertainties every company faces. Specific risks pertain to certain markets and industries. And see our definitions of risk here.

Risk 117

Risk Risk management Suppliers Raw materials 117

Procurement Heads

FEBRUARY 9, 2023

The evolving role of procurement Procurement has come a long way from its traditional role of simply purchasing goods and services. Today, procurement professionals play a key role in managing supplier relationships, reducing costs, and ensuring the quality of goods and services.

Procurement 130

Procurement Strategic sourcing Strategic sourcing supply chain budgeting 130

Jaggaer

MARCH 20, 2025

Additionally, institutions must remain adaptable to changes in compliance requirements related to federal grant-funded purchases, sustainability mandates, or supplier diversity policies. These could be amended, scrapped or introduced by current and future administrations. Ensuring compliance with federal (e.g.,

supply chain budgeting 52

supply chain budgeting Procurement Budget Supply Chain Efficiency 52

SCMDOJO

OCTOBER 28, 2024

Improved asset lifecycle management: Effective asset lifecycle management can help identify optimal replacement times and reduce capital expenditure. Strengthening Risk Management: Enhanced security: Robust asset tracking systems can deter theft and unauthorized use.

Supply Chain Optimization 52

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

Planergy

FEBRUARY 24, 2025

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. Procurement in education is far more than simple purchasing. These purchases directly impact student learning and institutional performance. What's PLANERGY?

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

ivalua

MAY 9, 2019

The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management. This includes supplier information management, supply chain risk management/mitigation, and supplier performance management.

Suppliers 145

Suppliers Management Risk Purchasing 145

Arkestro

DECEMBER 26, 2024

Within procurement, sustainability is the process of integrating environmental, social, and governance (ESG) goals into procurement, purchasing, and supply chains, which helps build a circular economy. Sustainability means considering social and environmental factors alongside purely financial and economic ones.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Procurement Tactics

JUNE 5, 2023

Successfully managing these complexities requires robust strategies and effective risk management measures. Losing control When your suppliers are in different countries, it becomes challenging to handle the technical aspects of production, ensure good quality, and manage communication.

supply chain budgeting 192

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

Arkestro

NOVEMBER 12, 2024

Businesses must now navigate sustainability, risk management, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets. As companies defer or ignore certain spend categories, they risk missing significant opportunities for cost savings and improved supplier relationships.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52