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What is a Purchase Requisition? Definition and Process

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When does a purchase actually begin? A critical but often overlooked step in managing spend, enforcing policy, and gaining visibility across the procurement process, creating a purchase requisition is the first step in the process. Find Out More What Is a Purchase Requisition?

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Procurement vs Purchasing: Key Differences, Workflows, and Enterprise Risks

ivalua

Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. Procurement vs. Purchasing: What’s the Difference? What is Purchasing?

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Source-to-Pay Tools for Enterprise Procurement

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Choosing the right Source-to-Pay (S2P) tools can be overwhelming. Key Takeaways Source-to-Pay platforms provide end-to-end visibility and control, helping organizations streamline procurement, reduce risk, and drive strategic value across the procurement lifecycle. They can also help to surface opportunities for savings.

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Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success

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Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. Done well, it can become a key driver of competitive advantage.

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The Role of AI in Sourcing and Procurement: Benefits, Use Cases, and Roadmap

ivalua

We’ve seen AI take over everyday tools and search engines; AI in Sourcing and Procurement is becoming a strategic tool in our kit, At Ivalua, we are helping global procurement teams integrate AI across the Source-to-Pay process, bringing automation, insight, and agility to every step. This is where AI can make a huge difference.

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What is Purchase Price Variance (PPV) and How to Calculate it?

SCMDOJO

Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.

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

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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. Find Out More What Is Procurement? What Is Direct Procurement and How Does It Work?