Empowering CPO

JULY 2, 2023

In essence, it’s a critical business function that ensures the right goods and services are available at the right time, in the right quantities, at the right price. Real-World Examples of Companies Benefiting from These Services Several companies have experienced the transformative power of Managed Procurement Services.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

ivalua

JUNE 4, 2020

A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. There are many supply chain management lessons to learn from the Covid-19 crisis. Financial, etc.).

Agile and Lean Supply Chain 173

Agile and Lean Supply Chain Supply chain resilience Supply Chain Efficiency Supply chain 173

Arkestro

DECEMBER 12, 2022

To address supplier challenges, you must ensure your preferred providers can meet your changing needs and that you have a diverse supply base. Supply Chain Visibility. Supply chain visibility is another critical issue. Visibility provides regulatory and consumer assurance in the face of issues like counterfeiting.

Real-time Visibility 52

Real-time Visibility Procurement e2e Raw materials 52

Empowering CPO

MAY 5, 2023

It is responsible for managing the entire process of acquiring goods and services, from identifying suppliers to ensuring timely deliveries. In essence, procurement serves as the backbone of an organization’s supply chain, contributing to cost savings, risk management, and supplier relationship management.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain budgeting Procurement Real-time Visibility 52

Procurement Software

MARCH 26, 2024

Your email inbox is probably your only real “database” of supplier information. As a result, practitioners spend more time hunting for information than they do interpreting, analysing and utilising it to make decisions – i.e. the job they were hired for. 99 times out of 100, they won’t know.

Procurement team 52

Procurement team supply chain software solutions Real-time Visibility Suppliers 52

Spend Matters

MARCH 11, 2024

For our readers who couldn’t/didn’t attend, here are our own reflections based on the time we had ( if we missed you, apologies, but do reach out to us here to get your procurement tech solution in front of our analysts ). So cleansing of SMFs is vital, even though it takes time.

Procurement strategies 94

Procurement strategies Innovation Strategy Procurement 94

Arkestro

JULY 4, 2022

As a result, implementing a process that effectively supports supplier diversity is a real obstacle many companies struggle with. And there’s no better example of how predictive procurement solves the challenge of supplier diversity than Arkestro. She chose Arkestro and we worked together to improve supplier diversity at Box.

Suppliers 52

Suppliers Procurement Real-time Visibility Chief Procurement Officer 52

Empowering CPO

JUNE 27, 2023

Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement. Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. They were struggling with high procurement costs and a lack of visibility into their supply chain.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Empowering CPO

JUNE 30, 2023

It can result in stock-outs or overstock, poor quality control, and longer lead times. Firstly, managed procurement services help companies centralize their procurement functions. This centralization leads to improved visibility across the procurement process, allowing companies to monitor and control their spend more effectively.

Supply Chain Optimization 52

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

Una

SEPTEMBER 11, 2023

Step 2: Cost Analysis This is Una’s time to shine and where we can show real value. We’ll send your spend data directly to our supplier base to compare cost and identify savings. From a compliance perspective, GPO members can be sure that due diligence has been performed and all suppliers have been thoroughly vetted.”

Real-time Visibility 52

Real-time Visibility Purchasing Suppliers Supplier relationship management 52

Arkestro

AUGUST 1, 2022

For the longest time, the procurement scale has tipped in favor of the buyer. Constrained supply chains and the associated shortages have resulted in mounting pressures from the government and investors for organizations to diversify their supplier bases. Why Is Supplier Relationship Management Taking a Front Seat?

Supplier relationship management 52

Supplier relationship management Suppliers Management Buyers 52

ivalua

JUNE 11, 2019

For the longest time, leading Procurement technology providers in my experience just ignored this space. The goal being to build in best practices that we’ve seen across our Public Sector customers, so that they are able to deploy and get up and running faster, thereby drastically reducing time-to-value.

Procurement 169

Procurement Real-time Visibility e2e Competitive bidding 169

Supply Chain Game Changer

MARCH 23, 2021

But too often the expected deliverables from Supply Chain professionals are established without a real understanding of the totality and breadth of actual tasks that must be performed underneath those high level expectations. With an iceberg it is said that only 10% of it is visible as the rest is under the water.

Supply Chain Efficiency 64

Supply Chain Efficiency Supply chain Real-time Visibility Supply 64

Empowering CPO

JUNE 26, 2023

In the following sections of this guide, we will provide in-depth analysis, real-world examples, and actionable recommendations to empower healthcare organizations in their journey towards optimizing costs and improving patient care through effective spend analysis. Benefits of Implementing Spend Analysis in Healthcare A.

supply chain budgeting 52

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

Zycus Cognitive Procurement

SEPTEMBER 28, 2022

Time-consuming – The entire process from receiving the PO to making the payment can take up to 30 days. And a big chunk of this time is spent on manually matching the invoices with the PO. Lack of visibility – Since the entire process is manual, it is difficult to track the status of invoices and payments. Time savings – .

Real-time Visibility 40

Real-time Visibility Purchase orders Purchasing Suppliers 40

Planergy

JANUARY 19, 2024

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. Taking your time throughout the process ensures you get the best possible match. Vendor analysis is crucial for risk management.

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. They were struggling with high procurement costs and a lack of visibility into their supply chain.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Procurify

MAY 26, 2022

Lean supply chain management is about reducing costs and lowering waste as much as possible. Managers make purchases on an as-needed or just-in-time basis to avoid any overproduction and unnecessary storage. . One of the keys to lean supply chain management is reducing the inventory you have on hand.

Agile and Lean Supply Chain 52

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

Pipefy

MAY 23, 2023

Because of this, carrying out its operations manually is time-consuming and incredibly expensive for businesses. Savvy leaders are quickly adopting e-procurement solutions to lower the time, costs, silos, and strained supplier relationships that plague manual operations.

Procurement solutions 52

Procurement solutions Procurement e2e supply chain software solutions 52

Empowering CPO

JUNE 30, 2023

Introduction Have you ever wondered how much time, effort, and money your company spends on procurement? With today’s increasing business complexity and the pressure to do more with less, it’s time to explore how managed procurement services can transform your business. Allow us to introduce ourselves.

Management 40

Management Procurement Real-time Visibility Supply Chain Efficiency 40

Empowering CPO

JULY 3, 2023

It has evolved to managing risks, fostering innovation, promoting sustainability, and contributing to the overall business strategy. These methods often involve manual, time-consuming processes, a lack of transparency in supplier relationships, and difficulty in managing and analyzing large volumes of procurement data.

Innovation 52

Innovation Strategy Procurement Management 52

Planergy

MAY 25, 2023

Proper spend management also includes tracking and controlling company-wide spending, including procurement costs. With up to 80% of a company’s total costs driven by external spending, proper spend management is essential for the financial well-being of your business.

Spend management 52

Spend management Management Purchase orders Budget 52

Empowering CPO

JUNE 27, 2023

Here are some common hurdles faced by organizations: Lack of Visibility: Without a robust spend analysis solution, organizations often struggle to gain comprehensive visibility into their spending patterns. Spend Visibility: Define the extent of spend visibility required, such as spend by category, supplier, department, or region.

Real-time Visibility 40

Real-time Visibility Supply Chain Optimization Data Suppliers 40

Orderhive

JUNE 1, 2022

A supply chain digital twin is a detailed simulation model of the actual supply chain using real-time data and snapshots to forecast supply chain dynamics. Forecast and test operations over a period of time. Read more: What is supplier relationship management? What is a supply chain digital twin?

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Supply chain Data 52

HICX

FEBRUARY 15, 2024

This has led to organizations investing capital in and spending time on optimizing supply chains to cut lead times, improve supplier performance and increase business profitability. From cloud-based platforms to advanced supplier data analytics , digital solutions are addressing the challenges of supply chain management.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency supply chain software solutions 52

Supply Chain Game Changer

JULY 3, 2019

But, as stakeholders in the future of tomorrow, we also have to be conscious about the necessary steps to realize sustainable impact, for real. So, what are the steps that need to be taken in businesses globally to make real sustainable impact? Businesses must serve as the champions of sustainability. Source: Purina.

Sustainability 58

Sustainability Sourcing Supply Chain Efficiency Real-time Visibility 58

Procurement Software

MARCH 11, 2022

The best opportunities now lie in tail spend management. Yes, Supplier Relationship Management (SRM) , supplier partnerships, and deeper collaboration with core vendors will deliver ongoing value over the long term and are an absolutely essential piece of ammo in every large organisation’s arsenal.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

The best opportunities now lie in tail spend management. Yes, Supplier Relationship Management (SRM) , supplier partnerships, and deeper collaboration with core vendors will deliver ongoing value over the long term and are an absolutely essential piece of ammo in every large organisation’s arsenal.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Empowering CPO

JUNE 20, 2023

At the heart of our services is the promise of ‘Empowering Chief Procurement Officers’ We understand the challenges that CPOs face in driving cost savings, ensuring supplier performance, and managing procurement risks. Similarly, supplier relationship management (SRM) strategies can be enhanced by tail spend analysis.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

Supply Chain Game Changer

MARCH 28, 2020

This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Instead of waiting for others to realize that now is the time for Procurement professionals to make their value and contribution known.

Procurement 71

Procurement Chief Procurement Officer Supply Chain Efficiency Purchase orders 71

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. It also facilitates data collection, which can be used for analytics and strategic decision-making.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

MAY 15, 2023

But in recent times, this function has evolved far beyond the simple act of purchasing. This might involve streamlining workflows, automating repetitive tasks, or improving data management practices. Let’s consider a real-world example. Supplier relationship management (SRM) systems are another powerful tool.

Procurement 52

Procurement Innovation Quality Cost of ownership 52

Empowering CPO

JULY 5, 2023

However, procurement can also be complex, time-consuming, and fraught with challenges. This is where managed procurement services come into the picture. Managed procurement services are a strategic solution that allows businesses to outsource their procurement operations to specialized third-party service providers.

Management 52

Management Procurement Real-time Visibility Ethics 52

The Procuretech Podcast

SEPTEMBER 21, 2021

Sheldon explains how he built a tech platform based off the back of what he's tried to build Excel formulas and macros to measure: the performance-related benefits to some of the more subjective areas of supplier relationship management (SRM). Is there a niche or sector that real-time SRM works for best?

Real-time Visibility 52

Real-time Visibility Collaboration Suppliers Supplier relationship management 52

Supply Chain Game Changer

APRIL 23, 2019

This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Instead of waiting for others to realize that now is the time for Procurement professionals to make their value and contribution known.

Procurement 50

Procurement Chief Procurement Officer Supply Chain Efficiency Purchase orders 50

Empowering CPO

JUNE 16, 2023

Data Cleansing: Once the data is collected, it’s time for a thorough cleaning. At EmpoweringCPO, we understand that the Spend Analysis process can be complex and time-consuming. Instead, we take the time to understand your organization, your challenges, and your goals, and tailor our approach to meet your specific needs.

Procurement 40

Procurement Data Real-time Visibility Procurement strategies 40