Procurement Tactics

DECEMBER 21, 2022

Additionally, we will show you the steps and give you examples of a successful supply chain collaboration. . After taking the time to read this article, you will have a deeper understanding of what supply chain collaboration is all about. Defining Supply Chain Collaboration. Horizontal Collaboration

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SCMDOJO

MAY 7, 2024

Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. Supply Chain Resilience refers to a supply chain’s ability to withstand and recover from unexpected events.

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ivalua

APRIL 27, 2023

CTA April 28, 2023 | | Supply Chain by Vishal Patel Cost, Risk, and Sustainability. The question is, how do you balance all three while maintaining continuous operations and generating revenue at the same time? We’re looking for cost mitigation strategies and new ways to deliver value,” she said. “To

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ivalua

APRIL 27, 2023

Ivalua Spend Management Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | Supply Chain by Vishal Patel Cost, Risk, and Sustainability. The question is, how do you balance all three while maintaining continuous operations and generating revenue at the same time?

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ivalua

JULY 8, 2020

These challenges in the direct material supply chain pose a real threat, especially in a time of crisis. It’s a manufacturing organizations’ procurement team that is on the front lines fighting for the supply chain’s survival. Developing Suppliers: Establishing & Implementing Supplier Strategies.

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World of Procurement blog

MAY 8, 2024

The procurement team manages the order, monitors quality, ensures on-time delivery, processes invoices, and handles any issues that arise during fulfillment. The key elements of procurement strategy include: Aligning with Corporate Strategy Procurement strategy starts with understanding the overall corporate strategy and business objectives.

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HICX

MAY 12, 2023

In his words, “If we don’t have visibility of it, we don’t know where to go at it.” Analytics, on the other hand, done correctly, can provide this visibility. He gives an example in the area of supply chain resilience. Or, ‘how do you get real-time decision-making?’

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Empowering CPO

JUNE 27, 2023

Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility. Understanding Digital Transformation in Procurement Digital transformation in procurement refers to the comprehensive integration of digital technologies, data analytics, and automation into procurement processes and strategies.

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IBM Supply Chain Blog

MAY 17, 2024

Experience building strategies like these have been  used by online retailers for years. Generative AI activates predictive analytics and forecasting, enabling businesses to anticipate and respond to changes in demand, reducing stockouts and overstocking, and improving supply chain resilience.

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Arkestro

MAY 30, 2022

Ultimately, many of the findings explain the importance of predictive procurement , a strategy that will be critical to the future of health and pharma. . In the June 2020 Harvard Business Review article, “ Why Investing in Procurement Makes Organizations More Resilient ,” the pandemic’s impact on global supply chains is directly addressed.

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Supply Chain Game Changer

NOVEMBER 2, 2022

You also have to make sure they get to their intended destination on time, in good condition, and ready to be sold. But with the use of SCRM software , manufacturers can reach a new level of efficiency and visibility within their supply chains. That means managing employees, vendors, customers, and more on one platform.

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SCMDOJO

JULY 7, 2023

These challenges highlight the demanding nature of the EV manufacturing landscape and the need for innovative strategies to overcome obstacles. During the manufacturing process, Rivian encountered specific challenges, including design flaws and last-minute changes that impacted its supply chain and production efficiency.

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Supply Chain Trend

AUGUST 13, 2020

The budget, or annual operating plan, is normally the first year of the strategy. Integrated Business Planning serves to align enterprise wide plans with the organization’s strategy. Decisions from an IBP meeting need to be made in the light of the company’s vision and strategy. Automation versus Augmentation.

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IBM Supply Chain Blog

SEPTEMBER 20, 2021

For years, supply chain professionals have measured success by how well they have been able to drive down costs and drive up efficiency. Just-in-time (JIT) became an artform and masters of the practice achieved new levels of precision. Why is supply chain resiliency important?

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Supply Chain Game Changer

JULY 27, 2021

Subscribe to Supply Chain Game Changer. The Parallel Supply Chain … A Twilight Zone Strategy? Since the Coronavirus pandemic exposed the fragility of the global Supply Chain , everywhere you look you see the word “resilience” being used as the latest buzz word. Subscribe Here!

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Empowering CPO

JUNE 14, 2023

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing.

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ivalua

FEBRUARY 24, 2021

Customers can now ensure greater supply chain resilience through improved supplier discovery and collaboration, increase efficiency across each step of the source-to-pay process and better understand and optimize cost drivers for goods and services purchased. Learn more at www.ivalua.com. Media Contact. Michael Gallo.

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IBM Supply Chain Blog

JUNE 30, 2023

The good news is, it’s possible to alleviate these perilous pain points by building healthcare supply chain resilience. Supply expenses escalate due to over-ordering, waste and emergency orders. Supply expenses escalate due to over-ordering, waste and emergency orders.

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Planergy

JANUARY 26, 2023

How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Project Organization Risk Also considered a planning risk, this occurs because you don’t have the right staff or tools in the right place at the correct time.

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EazyStock

FEBRUARY 13, 2019

Let’s dig into the future supply chain trends that could transform your supply chain and logistics operations! Distributed Inventory. At what point does long delivery time become a deal-breaker for you? A real-life example of digital twin technology can already be seen in some modern cars.

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Arkestro

JANUARY 9, 2024

According to Deloitte, the manufacturing industry was in contraction throughout most of 2023 due to challenges like increased lead times, tight labor markets, and rising costs. As we move into 2024, procurement teams continue to face hurdles like supply chain volatility, geopolitical tensions, budget restrictions, talent shortages, and more.

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World of Procurement blog

MAY 8, 2024

Customers receive orders on-time without backlogs. Plan The planning phase focuses on forecasting demand to determine what products are needed, the quantities required, and timing of orders. Accurate demand forecasts enable effective supply chain planning. It improves product availability and order fulfillment rates.

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Empowering CPO

MAY 8, 2023

Next, we will delve into the steps involved in the procurement risk management process, followed by strategies for effective risk management in procurement. Effective procurement risk management entails identifying, assessing, and mitigating these risks to ensure a resilient and efficient supply chain.

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IBM Supply Chain Blog

SEPTEMBER 18, 2023

At the same time, complex and fragmented supply chains can introduce challenges like supply chain compliance and fraud mitigation. Supplier visibility and traceability is growing in importance to help achieve environmental, social and governance (ESG) targets.

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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?

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