World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

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

ivalua

JANUARY 31, 2022

Enterprises will continue to undergo the financial burden of revenue disruptions, consumer , and uncontrolled supply chain variables. . Disruptions in global supply chains, labor market shortages, strong consumer demand. The Criticality of the Supply Chain (and Suppliers). What can we expect in 2022?

Procurement 130

Procurement supply chain budgeting Agile and Lean Supply Chain supply chain software solutions 130

Empowering CPO

JUNE 9, 2023

By measuring key aspects of the procurement process, these metrics provide insights that can drive significant improvements in cost-efficiency, operational performance, and supply chain resilience. By identifying quality issues early, these metrics also help mitigate risks and prevent potential losses.

Procurement 52

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Quality 52

ivalua

FEBRUARY 25, 2021

ERP vs. Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? That’s the question we set out to answer in our recent panel discussion with Procurement and Supply Chain experts.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Empowering CPO

JUNE 27, 2023

This enables proactive identification of cost-saving opportunities, risk mitigation strategies, and more informed decision-making. Proactive Risk Management: Digital spend analysis provides enhanced visibility into supplier performance, allowing organizations to identify and mitigate potential risks.

Real-time Visibility 40

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