Procurement Leaders

FEBRUARY 6, 2024

Another, meanwhile, detailed how they were funding the build-up of supplier inventory to the tune of tens of millions of dollars to provide financial support and build a buffer to potential disruption. I could go on, but it’s probably more important to be clear on which suppliers it makes sense to build such a relationship with.

Supply Chain Efficiency 130

Supply Chain Efficiency Risk Suppliers Contract 130

Procurement Tactics

JUNE 5, 2023

First Name Email Download 51 Prompts →  Or receive our famous weekly newsletter Global Supply Chain — Everything About Supply Chain Global supply chain has become a popular way for businesses to source unique materials and products from other countries as they are unavailable domestically.

supply chain budgeting 192

supply chain budgeting supply chain software solutions Supply Chain Optimization Supply Chain Efficiency 192

The Procuretech Podcast

OCTOBER 12, 2021

Hot Digital Procurement and Supply Chain Startups in the ESG and Risk Management Space. On this episode, we’re looking at startups whose mission is solving problems in the rapidly growing and increasingly important ESG and Risk Management area. Next up is Harald Nitschinger, CEO of risk management solution Prewave.

Risk management 40

Risk management Risk Supply Chain Efficiency Management 40

Procurement Tactics

NOVEMBER 23, 2022

Or receive our famous weekly newsletter. It includes easy access to capital and markets, increased profits, improved brand image, gaining more customers, and better decision-making and risk management processes. . Ultimate Supplier Plotting Checklist 2022. Or receive our famous weekly newsletter.

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Procurement Tactics

OCTOBER 13, 2022

Or receive our famous weekly newsletter. Strategic Sourcing Manager — The Ultimate Guide. A strategic sourcing manager is a key person in ensuring that the strategic process is effective and efficient. What is a Strategic Sourcing Manager? A strategic sourcing manager is often confused with a procurement manager.

Strategic sourcing 200

Strategic sourcing Strategic sourcing Sourcing Management 200

Procurement Tactics

SEPTEMBER 21, 2022

Or receive our famous weekly newsletter. Risk reduction. Risk is linked with all the suppliers of an organization it chooses to partner with. But, relationships with your suppliers who engage in bad practices may have a financial impact on brand value. . Measuring the performance of suppliers. First Name.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. Supplier Performance The quality, timeliness, and adherence to contractual commitments of suppliers shall be monitored. Documents concerning the contracts shall also be undertaken.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Procurement Tactics

MAY 30, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Procurement Managers — The Ultimate Guide Procurement managers are not easy, but the role is rewarding, interesting, and crucial to the success of a business.

Management 178

Management supply chain budgeting Procurement Negotiation 178

Procurement Leaders

APRIL 15, 2024

Many observers see it as a form of protectionism, as one potential consequence is that large buyers of carbon-intensive materials will have even more reason to look to local suppliers and, as a result, build more local supply chains.

Supply 130

Supply Sustainability Supply chain Demand 130

Planergy

SEPTEMBER 8, 2022

How AP can improve relationships with your key suppliers. How better management in AP can give you better flexibility for cash flow management. Supplier Performance Management: How and What To Measure. Best Practices & Tips Supplier Performance Supplier Relationship Management. Written by.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

Procurement Tactics

MAY 24, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Vendor Scorecards — Everything You Should Know Vendor scorecards simplify vendor management and are an important factor in monitoring supplier performance. However, what is it?

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Una

APRIL 23, 2024

Tips for Building an Effective Procurement Data Strategy Robots in Procurement Supplier selection & risk management Think of machine learning as your trusted advisor when it comes to choosing and monitoring suppliers. Then there’s the resource-intensive task of supplier monitoring.

Supply chain management 52

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

Spend Matters

MARCH 11, 2024

Tech newcomers to PSI and Spend Matters FISCAL We met David Griffiths, CEO of FISCAL , a P2P risk management solution offering fraud forensics and SaaS risk software. David presented on the top P2P risks that all businesses should be looking out for. Supplier Master Files have changed, he said.

Procurement strategies 96

Procurement strategies Innovation Strategy Procurement 96

Una

MARCH 30, 2023

The truth is, sourcing heroes can do more to shift stakeholder and supplier mindsets about the value the profession can bring to the organization. Additional resource: How to Prioritize SRM Activities Risk management Procurement can also focus on identifying and mitigating supply chain risks such as disruptions, delays, and quality issues.

Procurement 104

Procurement Supply Chain Efficiency Procurement team Sustainability 104

Una

FEBRUARY 13, 2023

What to Do When Supply Chains Break Your Heart Six helpful tips for what to do – and what NOT to do – when supply chains and supplier partners end up breaking your heart. A supplier’s machinery may break down, human errors are frequently made, or the suppliers’ suppliers may let them down in turn.

Supply chain 98

Supply chain Supply Contract Suppliers 98

Procurement Tactics

AUGUST 19, 2022

Or receive our famous weekly newsletter. Vendor Management Best Practices — The Ultimate Guide of 2022. Vendor management best practices are utilized to boost business growth and productivity. You will also know how important vendor management is for the organization to manage its suppliers. . First Name.

Vendor management 130

Vendor management Management e2e Negotiation 130

The Procuretech Podcast

MARCH 12, 2024

Moreover, the podcast outlines various factors justifying ProcureTech investment, including cost savings through streamlined processes, risk management in complex supply chains, enhanced supplier relationship management, and the promotion of sustainability initiatives. 00:19:19] Due diligence on IT suppliers. [00:23:15]

supply chain budgeting 40

supply chain budgeting Budget supply chain software solutions Procurement 40

Procurement Tactics

SEPTEMBER 19, 2022

Or receive our famous weekly newsletter. The job of these officers may involve qualifying new suppliers, ensuring quality performance, and supporting supplier diversity policies. . It offers a sustainable procurement impact assessment to identify spend categories with the most opportunity and risk. . First Name.

Sustainability 130

Sustainability supply chain software solutions Supply chain Supply 130

The Procuretech Podcast

NOVEMBER 7, 2023

They touch on topics like organisational development, digitisation of processes, indirect costs, and risk management. Hans highlights that many mid-sized firms still rely on manual, outdated methods for procurement, particularly in areas like supplier management, risk management, and sustainability.

Procurement 40

Procurement Risk management Buyers Risk 40

Una

JULY 3, 2023

They provide guidance on optimizing the sourcing process, enhancing supplier relationships, and leveraging procurement as a strategic function that adds value to the business. This shouldn’t be surprising, as procurement professionals often find themselves dealing directly with a suppliers’ CEO.

Leadership 52

Leadership Procurement Ethics Supply Chain Optimization 52

Planergy

JANUARY 19, 2024

Vendor analysis is crucial for risk management. That’s why vendor analysis is essential to any successful procurement process – it helps ensure that companies procure from reliable suppliers at competitive prices while adhering to applicable regulations. What is a Vendor Analysis Report? What Is Vendor Due Diligence?

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

Una

APRIL 25, 2023

Procurement professionals must manage more contracts, more suppliers, and more transactions, which can be overwhelming and time-consuming. While this should always be a core concern, an over-focus on cost can result in a significant portion of the week being spent on negotiating with suppliers, leaving little time for other activities.

Procurement 94

Procurement supply chain budgeting Supply Chain Efficiency Contract 94

Jaggaer

OCTOBER 22, 2020

In our poll, webinar participants saw business partnering, supplier innovation and collaboration, and supply chain risk management as their key areas of focus for procurement. Moreover, the bank lacked any collaborative supplier relationship management or sourcing tool. internal auditors) on the new procedures.

Strategy 52

Strategy Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

Una

MARCH 16, 2023

Just calling to let you know we’re selling the current motor pool vehicles and will be switching to a cheaper supplier for our commercial fleet.” Other reasons include risk reduction , creating a cost-conscious culture, and more effective change management when implementing new procurement processes, technologies, and strategic initiatives.

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

Planergy

JANUARY 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The best way to minimize disruption is to identify the various supplier risks and create a plan of action for what to do if the risk becomes a reality. This can also include economic instability.

Risk 52

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

Una

AUGUST 21, 2023

Risk management Consider the human influence on risk management. Address potential risks linked to supplier relationships, new management goals, or spend mavericks. Ensure that all involved parties understand the objectives, timelines, and expectations.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Ethics 52

Una

AUGUST 31, 2023

Procurement professionals are tasked with not only finding cost-effective suppliers but also ensuring the sustainability and competitiveness of their companies. This constraint can hinder their ability to analyze spend data, discover suppliers, negotiate favorable terms, and find cost savings.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

Una

NOVEMBER 29, 2023

Utilizing a GPO to manage some of the more time-consuming activities can help save you more money, time, and effort. Supplier relationship management Dedicate time to nurturing and strengthening relationships with your key suppliers.

Supply Chain Efficiency 52

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

Una

FEBRUARY 22, 2023

Don’t make the mistake of squeezing your suppliers for short-term cost savings as this will damage relationships and the opportunity for long-term value creation will be lost. GPOs leverage the collective buying power of their members to obtain volume discounts from suppliers and vendors.

Strategy 52

Strategy Purchasing Supply Chain Efficiency Supplier consolidation 52

Una

JUNE 15, 2023

Improved supplier relationships: Dedicated procurement service providers can maintain and enhance relationships with suppliers , leading to better terms, pricing, and quality. Others may choose not to outsource anything that needs the human or personal touch such as supplier relationship management.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Una

JULY 18, 2023

Familiarity with procurement software platforms , e-procurement systems, and vendor management systems is a must. These tools streamline processes, enhance efficiency, and ensure better collaboration with suppliers and stakeholders. Develop an understanding of risk assessment methodologies and tools.

Procurement 52

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Sustainability 52

Una

JUNE 6, 2023

The Limitless Possibilities of ChatGPT in Procurement With the explosion of generative AI, learn how to utilize ChatGPT in procurement to conduct research, analyze spend data, and communicate better with suppliers. Say you need to write an email to stakeholders about a new supplier. I said, ‘You are going to act as a supplier.

Procurement 52

Procurement Negotiation Suppliers Strategy 52

Una

JUNE 6, 2023

The Limitless Possibilities of ChatGPT in Procurement With the explosion of generative AI, learn how to utilize ChatGPT in procurement to conduct research, analyze spend data, and communicate better with suppliers. Say you need to write an email to stakeholders about a new supplier. I said, ‘You are going to act as a supplier.

Procurement 52

Procurement Negotiation Suppliers Strategy 52

Una

JULY 20, 2023

For example, Walmart has deployed AI-powered chatbots to negotiate and close agreements with thousands of suppliers. Today, AI and machine learning can be used for everything from demand forecasting to supplier performance analysis and risk management. It’s not just about automating repetitive and mundane tasks.

Procurement 40

Procurement Negotiation Purchase orders Suppliers 40

Planergy

OCTOBER 18, 2023

Additionally, partnering with preferred suppliers and negotiating volume discounts can lead to substantial realized cost savings. A well-designed corporate travel program prioritizes employee safety by vetting travel suppliers, providing travel risk management resources, and offering 24/7 support for travelers in case of emergencies.

Risk 52

Risk Real-time Visibility Negotiation Management 52

Una

OCTOBER 31, 2023

Risk management Identify potential risks associated with the change and develop a risk management plan. By proactively addressing risks, you can mitigate their impact on the implementation process. Being able to demonstrate the success of the change with data can be a powerful tool for gaining support.

Change management 52

Change management Management Procurement Leadership 52

Procurement Tactics

OCTOBER 18, 2022

Or receive our famous weekly newsletter. Supplier Relationship Management Software — Everything You Should Know. Supplier relationship management software is a very important factor for procurement managers to strengthen their relationship with their suppliers. Download Free Whitepaper ?. ?.

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181