World of Procurement blog

APRIL 23, 2024

Procurement plays a critical role in the operational efficiency and financial health of an organization. Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

Procurement Tactics

MARCH 16, 2023

Strategic procurement is a term used to encompass different procurement processes that support the long-term development of an organization. It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. Activities Compromising Strategic Procurement 1.

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Procurement Procurement strategies supply chain budgeting Contract management 238

Arkestro

SEPTEMBER 29, 2023

The software works with real-time and historical data, including user preferences, past buys, supplier performance, and market trends. Systems use this data to automate routine procurement tasks and make informed decisions about sourcing, pricing, and supplier relationships. Why is autonomous procurement important?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

Procurify

JULY 20, 2022

If you are a purchasing manager struggling to meet your saving targets, you’re not alone. . Technological advancements are also rapidly changing the responsibilities of purchasing managers. . Now is a crucial time to re-evaluate the importance of purchasing in the overall organization strategy. Written by: Procurify.

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Planergy

JANUARY 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Here we’ll discuss various potential supply chain disruptions and what you can do to mitigate the risks to keep your business up and running throughout whatever circumstances are thrown your way.

Risk 52

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

Planergy

JULY 5, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. ESG In Supply Chain: Creating a Sustainable Value Chain. ESG In Supply Chain: Creating a Sustainable Value Chain We all know just how valuable the supply chain is. Written by.

Sustainability 52

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

Una

NOVEMBER 29, 2023

But with the elves’ help, Santa is able to put his freed-up time to valuable use, with activities such as mapping out the most fuel-efficient route around the globe, analyzing the data on his naughty and nice lists, and spending some quality time with Mrs Claus. Things you can do while a GPO works behind the scenes And what about you?

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supplier relationship management Strategic sourcing 52

Procurement Tactics

MAY 24, 2023

Strategic sourcing managers and procurement managers are typically responsible for managing supplier scorecards. For example, you can ask a department head to provide feedback and scores for a software service used by their team. Tracking this metric will help you identify the most efficient supplier.

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

IBM Supply Chain Blog

DECEMBER 13, 2023

A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. This enables an effective and adaptive approach to sourcing that creates value and minimizes risk.

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Procurement strategies Strategy Procurement Supply Chain Efficiency 73

World of Procurement blog

MAY 10, 2024

By leveraging technologies like machine learning, natural language processing, and neural networks, AI-driven solutions can help procurement teams work smarter, faster, and more efficiently. This frees up procurement professionals to focus on high-value strategic activities. This supports strategic sourcing efforts.

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Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

SCMDOJO

SEPTEMBER 18, 2023

In the dynamic landscape of supply chain management, precise terminology is paramount. Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference.

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Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 98

Pipefy

DECEMBER 20, 2023

Strategic procurement, or procurement strategic planning, is a data-driven process that helps businesses align procurement and business goals. The result is greater supply chain predictability, more accurate decision-making, and better business agility. What is strategic procurement?

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Agile and Lean Supply Chain Strategic planning 52

Empowering CPO

JULY 17, 2023

It’s the complex process through which businesses source and acquire the goods and services they need to operate and grow. From securing raw materials to procuring top-tier services, these purchases directly impact a company’s efficiency, productivity, and bottom line.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Supply Chain Optimization 52

SCMDOJO

JULY 3, 2023

Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management.

Cost of ownership 79

Cost of ownership Procurement Category management supply chain software solutions 79

Strategic Sourceror

JANUARY 13, 2023

In one form or another, virtually all industries are utilizing automation to facilitate their work processes for greater efficiency, speed and accuracy and to lower costs. How will it address business owners' supply chain challenges? Here are a few predictions: 1. Why has the labor shortage persisted as long as it has?

supply chain software solutions 62

supply chain software solutions Supply Chain Efficiency Strategic sourcing Strategic sourcing 62

Pipefy

JANUARY 11, 2023

The need for efficient and error-proof procurement processes has never been greater. Following recent unprecedented events and disruptions, one thing has become clear: procurement optimization is no longer just about cost-effectiveness or efficiency. . Complex purchasing systems (31%). Complex approval processes (29%).

Strategy 52

Strategy Procurement supply chain software solutions Agile and Lean Supply Chain 52

Una

JANUARY 1, 2024

There are dozens of excellent survey software alternatives on the market, ranging from webpage pop-ups to app-based mobile surveys and plug-ins for platforms like Slack and Teams. Identify your serial mavericks – those who consistently purchase without following procurement policy – and approach them for a chat. Leverage technology.

Procurement 52

Procurement supply chain software solutions Contract Suppliers 52

Planergy

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. In this blog post, we’ll cover what tail spend analysis is, its benefits, how to develop a plan for it, how to analyze data and trends, and how to best leverage tail spend analysis to improve efficiency.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Real-time Visibility supply chain software solutions 52

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

With the increasing complexity of supply chains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. However, failing to strategically measure purchasing performance can have significant impacts.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Una

JANUARY 8, 2024

Boosting Business Growth With the Help of a Group Purchasing Organization A playbook for boosting business growth, moving beyond the outdated perceptions of procurement, and turning it into one of your organization’s most important sources of value. What if procurement wasn’t just about cutting costs and securing deals?

supply chain budgeting 52

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

Procurement Software

MARCH 19, 2024

It will take time before we have dedicated generative AI-driven procurement software. Examples here are: Drafting routine RFP documents Non-disclosure agreements Frame contracts Procurement policies and procedures So, in summary, the current use cases are more focused on time and efficiency savings.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Strategic Sourceror

JULY 11, 2022

Organizations that have utilized traditional procure-to-pay (P2P) solutions are experiencing the need to monitor spend efficiency more closely. The same holds true for businesses that have deployed a combination of disparate systems, alongside enterprise resource planning (ERP) software.

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e2e supply chain budgeting supply chain software solutions Strategic sourcing 52

Empowering CPO

JUNE 9, 2023

It is the process of sourcing, negotiating, and purchasing the goods and services a business requires to carry out its operations. This can range from raw materials for production, to office supplies, to strategic partnerships. Examples include cost savings, cost avoidance, and purchase price variance.

Procurement 52

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Quality 52

Planergy

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Creating Strategic Partnerships. As a procurement professional, you know how important it is to have a reliable and cost-effective supply chain. Both tiers play an essential role in supply chain processes.

Suppliers 52

Suppliers Supply Chain Efficiency Raw materials supply chain budgeting 52

Planergy

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. We will also look at how spend management software , like Planergy, can help keep track of expenses and control spending within budget limits. How to gain visibility and control of your indirect spend.

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supply chain budgeting Budget Real-time Visibility Spend management 92

Arkestro

MARCH 13, 2023

Automotive sourcing is complicated, and few supply chains are as complex. Leveraging the power of artificial intelligence (AI), Arkestro delivers a series of benefits for your automotive sourcing and procurement strategy. At our previous Optimal conference, Jeoffrey Burris, owner of Advanced Purchasing Dynamics, Inc.,

Sourcing 52

Sourcing Strategy Raw materials Supply Chain Optimization 52

Empowering CPO

JULY 2, 2023

As companies grapple with economic uncertainties and rapidly evolving market dynamics, the focus is shifting from mere cost-cutting to strategic cost management. In this context, Managed Procurement Services offer an effective path to achieve this objective, leveraging innovation, process efficiency, and expert insights.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Procurement Software

MARCH 12, 2024

It will also be able to assist in monitoring supply chain disruptions by being able to quickly summarise foreign language news sources and weather reports. Younger team members, who are using tools like ChatGPT at home, will expect this level of efficiency in the workplace. appeared first on Procurement Software.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Supply Chain Game Changer

FEBRUARY 12, 2019

Imagining the Supply Chain of the Future! At Supply Chain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe. As such we have introduced our “Seasoned Leadership in Action™” Interview series at Supply Chain Game Changer.

Leadership 50

Leadership Supply Chain Efficiency supply chain software solutions Supply chain 50

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. These cost pressures necessitate a strategic approach to spending and resource allocation.

supply chain budgeting 52

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

Supply Chain Game Changer

SEPTEMBER 28, 2022

Subscribe to Supply Chain Game Changer. Thus a website is your strategic source of revenue and brand visibility , which are important considerations before redesigning your website. Originally written for Supply Chain Game Changer and published on August 1, 2022. Subscribe Here! Email Address.

Real-time Visibility 85

Real-time Visibility Supply Chain Optimization Supply Chain Efficiency supply chain software solutions 85

Planergy

OCTOBER 26, 2023

Modern Spend Management and Accounts Payable software. Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's Planergy?

Inventory 52

Inventory Supply Chain Efficiency Purchasing supply chain software solutions 52

Planergy

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. As it often proves reliable when estimating outcomes, this concept is widely used by various industries attempting to maximize their efficiency. How to gain visibility and control of your indirect spend.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Supply Chain Game Changer

JULY 3, 2019

Subscribe to Supply Chain Game Changer. The Green Supply Chain: True Sustainability or Just One Big Marketing Stunt? in this case, responsible sourcing. Be sure to take into account a holistic understanding of value creation when choosing software to support your realization of responsible sourcing.

Sustainability 58

Sustainability Sourcing Supply Chain Efficiency Real-time Visibility 58

Procurement Software

MARCH 11, 2022

Unlike for those who purchase direct materials, it’s much trickier to measure hard savings – i.e. those which are easily visible on the P&L statement – in the indirect space. Driving value through strategic sourcing and supplier collaboration. Great for repeatable purchases.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

Unlike for those who purchase direct materials, it’s much trickier to measure hard savings – i.e. those which are easily visible on the P&L statement – in the indirect space. Driving value through strategic sourcing and supplier collaboration. Great for repeatable purchases.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Planergy

DECEMBER 29, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Managing the challenges with best practices, including using procurement software for the marketing spend category helps simplify your process. Best Practices for Your Marketing Procurement Process and Strategic Sourcing.

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Procurement Raw materials supply chain budgeting supply chain software solutions 52