Strategic Sourceror

JANUARY 20, 2023

When transportation centers near critical waterways are unable to deliver goods beyond their central distribution points, manufacturers located further inland are unable to source the raw materials needed to deliver finished products. Flooding could severely impact the resiliency of global supply chains.

Supply chain 142

Supply chain Raw materials Supply Strategic sourcing 142

Procurement Tactics

JUNE 7, 2023

Purchase price variance (PPV) is a measure of the difference between the actual cost paid for a product or raw material and the standard cost that was expected to be paid. Whenever the cost of raw materials or components increases, purchase price variances are likely to ensue. Price Purchase Variance: What is it?

Price 130

Price Purchasing Raw materials Negotiation 130

Jaggaer

JULY 4, 2024

Christian Heinrich, Co-Founder and Managing Director, c arbmee The 80% Challenge I was recently delighted to participate in a JAGGAER live webinar focused on the introduction, in recent years, of carbon emissions measurement as a factor in strategic sourcing. The objective of net zero carbon footprint is now familiar.

Strategic sourcing 59

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 59

SCMDOJO

MARCH 24, 2025

Strategic Sourcing: Strategic sourcing involves managing suppliers, while their selection is done through Request for Quotation (RFQs) forms from multiple suppliers to compare and evaluate them based on pricing, quality, and delivery speed. What Causes Unfavorable Purchase Price Variance (PPV)?

Price 56

Price Purchasing supply chain budgeting Raw materials 56

Empowering CPO

DECEMBER 14, 2020

To answer this question, it is much simpler first to list down the reasons as to when a specific category should be taken up for Strategic Sourcing. This helps a procurement organization to list down its plan for the New Year and identify categories that should be taken up for sourcing. Once every year is the right frequency.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 52

Strategic Sourceror

FEBRUARY 6, 2023

Brent Nykoliation, executive vice president of NextSource Materials, told the Journal that this could be a massive predicament for automakers, given how much of a traditional car battery is composed of graphite. "Graphite always seems to be the forgotten battery material, yet it's in half the battery," Nykoliation said.

Raw materials 140

Raw materials Strategic sourcing Strategic sourcing Demand 140

TYA Suite

NOVEMBER 25, 2024

What is strategic sourcing and how does it work? Strategic sourcing is a method used by businesses to buy goods and services in a way that focuses on long-term value, not just short-term savings. Strategic is about building strong, lasting relationships with suppliers that deliver the best overall value.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

Arkestro

DECEMBER 5, 2022

With globalization, raw materials may come from across the globe. Raw Materials Shortages. For instance, raw materials like wheat and corn could become more scarce with the Russia-Ukraine conflict. The company that can move more quickly will secure the contract for the raw materials that are in short supply.

Raw materials 98

Raw materials Procurement Agile and Lean Supply Chain Supply Chain Optimization 98

Procurement Templates

JUNE 18, 2023

It can be due to factors such as rising wages, higher raw material prices, or increased taxes. Strategic sourcing: Adopting strategic sourcing practices enables procurement to analyze the entire supply chain and identify cost drivers.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

TYA Suite

MAY 13, 2025

These are typically routine or recurring purchasessuch as office supplies, raw materials, tools, or maintenance servicesthat support the companys ongoing operations. While it may not seem as strategic or high-profile as long-term sourcing deals, operational procurement is essential. office supplies).

Procurement 40

Procurement supply chain budgeting Supply Chain Efficiency Raw materials 40

Strategic Sourceror

SEPTEMBER 22, 2022

Instead of being forced to buy all-new raw materials, the reuse of end products naturally lowers what a business spends on production and procurement. Lowers costs As the old saying goes, in order to make money, you also need to have it, and the most substantial costs organizations have originate in the manufacture of their products.

Supply chain 112

Supply chain Raw materials Supply Strategic sourcing 112

Supply Chain Game Changer

MARCH 14, 2022

Strategic Sourcing & Vendor Managed Inventory. While there are plenty of great ways to save money on inventory , Strategic Sourcing and Vendor Managed Inventory (VMI) can be a particularly effective approach in managing costs and creating competitive supply chains. Supply Chain Management Strategy.

Supply chain management 115

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Optimization 115

World of Procurement blog

MAY 8, 2024

Its strategic importance stems from its impact on profitability, efficiency, risk mitigation, and competitiveness. Types of Procurement There are several types of procurement that organizations utilize: Direct Procurement Direct procurement involves purchasing raw materials and components that go directly into a company's end products.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Skill Dynamics

FEBRUARY 13, 2025

Lets take a look at some of the key areas you should look at: Strategic Sourcing and Supplier Management : Theres been a clear shift away from traditional procurement methods and towards more strategic sourcing. What Is an End-to-End Supply Chain?

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 52

Supply Chain Game Changer

APRIL 19, 2022

Over the past 20 years I have been fortunate to have worked in various industries (Automotive, Electronics, Plastics, Oil/Gas, Financial and Communication Equipment) for various world class companies, with a focus on Strategic Sourcing and Procurement. What are some of your greatest achievements in Business?

Leadership 85

Leadership Raw materials supply chain software solutions Strategic sourcing 85

Strategic Sourceror

JULY 29, 2022

Union disagreements with ownership have led to the possibility of 115,000 railway workers going on strike – threatening a crisis affecting not just raw material transport, but also crops and imported goods. The rail union strike also provides a significant risk to companies looking to ship goods across the country.

Supply chain 98

Supply chain Raw materials Supply Strategic sourcing 98

Strategic Sourceror

OCTOBER 27, 2022

Many of those supply chains remain in rough shape in a variety of respects, from raw materials being hard to come by to staffing shortages. This was a sentiment shared by just about every product-based company during the pandemic, when the efforts designed to stamp out COVID-19 wound up wiping out supply chains more than anything else.

Collaboration 105

Collaboration Supply Chain Efficiency supply chain software solutions Supply chain 105

IBM Supply Chain Blog

JANUARY 31, 2024

The main motivators for outsourcing are cost savings; the flexibility to ramp up or scale back functions and goods or services as needed; and greater access to specific skills or raw materials. Single sourcing Single sourcing (or single supplier) is choosing only one supplier for all raw materials, goods and services.

Sourcing 91

Sourcing supply chain budgeting Supply Chain Efficiency Agile and Lean Supply Chain 91

Strategic Sourceror

JANUARY 20, 2023

As demand for solar panels continues to increase, manufacturers' overreliance on China-produced polysilicon and other raw materials used in the production of solar panels could put the solar supply chain at serious risk. Brought to you by the StrategicSourceror.

Raw materials 62

Raw materials Strategic sourcing Strategic sourcing Supply chain 62

Strategic Sourceror

JANUARY 20, 2023

Raw materials procurement could fuel further inflation Raw materials are in short supply and many manufacturers are finding it difficult to source the materials they need to fuel their production processes. Businesses might respond to inflation by overstocking warehouses, which could make inflation worse.

supply chain budgeting 62

supply chain budgeting Raw materials Supply chain Supply 62

Supply Chain Game Changer

AUGUST 24, 2021

Leveraging relevant technology in the supply chain from the moment your suppliers bring in raw materials, during storage of the materials and manufactured products in the warehouse, and distribution of products to the final consumer can increase efficiency, boost production, reduce time wastage and improve business revenues.

Supply Chain Optimization 119

Supply Chain Optimization Supply Chain Efficiency Supply chain Real-time Visibility 119

Spend Matters

APRIL 4, 2024

Category management ChAI is a pricing and market intelligence solution that allows customers to understand future raw material prices, providing insights for procurement, risk management and finance, so that they can stay on top of market changes and provide visibility of short- to long-term forecasts.

Procurement 113

Procurement Raw materials Risk management supply chain software solutions 113

Planergy

MAY 8, 2025

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. In 2025, more than 50% of procurement leaders rely on advanced analytics to guide key decisionsfrom budgeting and sourcing to contract negotiation and supplier performance monitoring.[3] Available at: [link]. ” Gartner.

Strategy 52

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

Strategic Sourceror

OCTOBER 1, 2022

Over the past two years, the costs of goods and services have risen sharply for just about everything, including gasoline, food, raw materials and electronics. As with households throughout the U.S., small-business owners are struggling with the effects of massive inflation. Brought to you by the StrategicSourceror.

Raw materials 75

Raw materials Strategic sourcing Strategic sourcing Supply chain 75

World of Procurement blog

APRIL 23, 2024

A manufacturer is a party in the supply chain that transforms raw materials into finished products. Sourcing : Choosing suppliers that provide the goods and services needed to create the product. Making : The manufacturing step where raw materials are converted into finished products. What Is a Manufacturer?

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

World of Procurement blog

APRIL 23, 2024

A manufacturer is a party in the supply chain that transforms raw materials into finished products. Sourcing : Choosing suppliers that provide the goods and services needed to create the product. Making : The manufacturing step where raw materials are converted into finished products. What Is a Manufacturer?

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

Strategic Sourceror

MAY 13, 2022

This puts the suppliers that provide you with these necessities in a bit of a predicament — especially when they have other customers who are looking for the same hard-to-find raw materials that you are. An approach that can help you more effectively manage this issue is to strengthen the relationships you have with your suppliers.

Suppliers 52

Suppliers Raw materials Strategic sourcing Strategic sourcing 52

NLPA (Next Level Purchasing Association)

MAY 5, 2021

These are raw materials, subcontracted manufacturing services, components, hardware, and the like. After each classification, the procurement professional can develop a cost savings and sourcing strategy for each category. Become a member of one of the world’s largest procurement associations today. Cost Savings Ratios.

Raw materials 52

Raw materials Strategic sourcing Strategic sourcing Category management 52

Strategic Sourceror

FEBRUARY 8, 2023

As automakers have scaled up production to keep pace with demand, they've wound up depleting certain raw materials. Chief among them is lithium, a rare earth mineral used in EV batteries. Brought to you by the StrategicSourceror.

Raw materials 62

Raw materials Export Supply chain Price 62

Supply Chain Game Changer

APRIL 16, 2020

A few weeks ago, we wrote about the impact of the Coronavirus epidemic on Supply Chains – specifically, how the emerging crisis in China had placed new pressures on companies importing finished goods and raw materials from overseas. During COVID-19, the world will depend on our profession to keep the world turning.

Agile and Lean Supply Chain 92

Agile and Lean Supply Chain Supply chain Import Supply chain management 92

Strategic Sourceror

DECEMBER 5, 2022

Close to 50% of respondents in the SAP survey said they anticipate more raw material shortages in 2023. A Blog for Procurement, Supply Chain and Purchasing Professionals, sponsored by Corcentric , a leading Procurement Service Provider, specializing in Strategic Sourcing, Procurement Resources and Procurement Advisory.

Inventory 62

Inventory Strategy Supply Chain Efficiency Management 62

Procurement Express

DECEMBER 31, 2024

How Best-in-Class Companies Turn Indirect Spend Into a Competitive Advantage Direct vs. Indirect Spend Direct spend, as mentioned, covers your raw materials, subcontractors, components, hardware, and whatever else you need to build the products you sell to customers. What Happens When Indirect Spend Isnt Managed?

Spend management 40

Spend management Strategy Management Real-time Visibility 40

Procurement Software

JULY 9, 2024

Direct procurement involves acquiring raw materials and components essential for your production process. Standardised procurement software suites often cater to source-to-pay (S2P) and source-to-contract (S2C) functions with a strong bias towards use cases in indirect procurement.

Raw materials 40

Raw materials supply chain software solutions Procurement Supply Chain Efficiency 40

Arkestro

JULY 30, 2024

Procurement teams play a vital role in sourcing raw materials and components needed for the manufacturing of vehicles based on real-time orders. Ready to optimize your strategic sourcing process? Next time we’ll go into details and differences of even more terms like Intake-to-Pay and Order-to-Cash.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Demand 52

TYA Suite

APRIL 13, 2025

raw materials, software licenses). Some key objectives of purchasing include: Reducing expenses through competitive pricing and strategic sourcing. Ensuring purchased materials meet required standards. The process starts when a team member identifies a need (e.g., Avoiding delays that could disrupt operations.

Purchasing 40

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

Strategic Sourceror

MAY 12, 2022

Ideally, it's best to partner with those companies that provide the most essential parts, fabrics or raw materials that you use during production. In other words, have standby suppliers for the materials you can't do without. In other words, nothing is a guarantee, even your most reliable suppliers.

supply chain software solutions 52

supply chain software solutions Supply Chain Efficiency Supply chain Strategy 52

Strategic Sourceror

MAY 22, 2022

Indeed, in the National Association of Manufacturers' quarterly survey , more than 88% of respondents cited the supply chain as their central pain point to better productivity and profitability, more so than the cost of raw materials or a lack of qualified talent. Brought to you by the StrategicSourceror.

Raw materials 52

Raw materials Supply chain Strategic sourcing Strategic sourcing 52