Spend Matters

APRIL 4, 2024

Throughout the year our analyst team provides vendor-specific profiles and tech solution analyses as part of Spend Matters Insider content. Meet AI’ In the ‘ Meet AI ’ series, the Spend Matters analyst team explored the implementation of AI in various segments of the procurement process. Not all implementations are the same, however.

Procurement 83

Procurement Risk management Raw materials supply chain software solutions 83

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

The same Hackett Group study also found that companies with mature category management processes had 20% lower procurement costs and 30% shorter procurement cycles. Additionally, category management fosters a focus on strategic sourcing , allowing teams to explore new sourcing opportunities that align with business growth objectives.

Category management 52

Category management Management Procurement Supplier relationship management 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. These insights enable data-driven decision-making, negotiation strategies, and risk mitigation, leading to more informed procurement choices.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Spend Matters

JANUARY 16, 2024

This year we’re highlighting the customer demands, market movements and advances in procurement tech that are exciting the world of solution providers, how they expect them to shape the S2P landscape next year and how they plan to respond to them.

Procurement solutions 82

Procurement solutions Procurement Spend management Supply Chain Optimization 82

ivalua

FEBRUARY 8, 2023

The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures. As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these.

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

ivalua

JULY 21, 2021

REV Group embarked on its sourcing and procurement transformation earlier this year, which included four appointments to REV’s global sourcing and supply chain team, representing the Fire & Emergency, Commercial and Recreation segments. Benefits include: Shortened sourcing cycle times. 100% visibility of sourcing processes.

Supply Chain Efficiency 130

Supply Chain Efficiency Supply Chain Optimization Supply chain Competitive bidding 130

Procurement Tactics

JUNE 28, 2023

Procurement Strategy Take the lead with our proven 5-step procurement strategy 3. Procurement Tracking is the process of monitoring and managing procurement activities. To stay at the forefront of today’s rapidly evolving business environment, procurement tracking plays a crucial role in monitoring the procurement process.

Supply Chain Efficiency 178

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

Empowering CPO

MARCH 21, 2024

The complexity of numerous categories, baseline assumptions, and resistance from healthcare providers impedes the realization of projected savings from strategic sourcing efforts. ” Implementing a robust compliance tracking process is essential to realizing projected savings on the ground as envisioned during strategic sourcing.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Optimization Sourcing 52

Empowering CPO

MARCH 17, 2024

The complexity of numerous categories, baseline assumptions, and resistance from healthcare providers impedes the realization of projected savings from strategic sourcing efforts. Typically, this involves four major stages in the savings lifecycle. So, in this stage actual savings realization curve remains almost near to the baseline.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Optimization Sourcing 52

Empowering CPO

MARCH 17, 2024

The complexity of numerous categories, baseline assumptions, and resistance from healthcare providers impedes the realization of projected savings from strategic sourcing efforts. This tool not only identifies areas of non-compliance but also proposes strategies to enhance savings realization.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Optimization Sourcing 52

Empowering CPO

JULY 16, 2023

Managed procurement services can be defined as an external service that helps streamline a company’s acquisition processes, offering an end-to-end solution that takes into account all aspects of procurement – from sourcing to payment.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Empowering CPO

JULY 17, 2023

It’s the complex process through which businesses source and acquire the goods and services they need to operate and grow. Introduction to Managed Procurement Services In recognition of procurement’s strategic role, many businesses are turning to Managed Procurement Services (MPS).

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Supply Chain Optimization 52

Empowering CPO

FEBRUARY 14, 2024

EmpoweringCPO, a distinguished procurement service and consulting company, stands out as a guiding force for organizations looking to optimize their procurement processes. Savings Compliance Tracking: Monitor and ensure compliance with your savings goals, providing a clear path to measure the success of your initiatives and strategies.

Procurement 40

Procurement Procurement strategies Supply Chain Efficiency Supply Chain Optimization 40

Empowering CPO

JULY 17, 2023

It encompasses the intricate processes through which companies acquire the necessary goods and services to sustain and expand their operations. From sourcing raw materials to securing high-quality services, procurement directly influences a company’s efficiency, productivity, and financial performance.

Procurement 52

Procurement Supply Chain Optimization Supply Chain Efficiency Strategic sourcing 52

Una

NOVEMBER 29, 2023

This can include implementing a formal Supplier Relationship Management (SRM) program, sharing your strategy with key suppliers, collaborating on cost-saving initiatives, and ensuring a reliable and efficient supply chain. Develop contingency plans and strategies to safeguard your organization’s procurement operations.

Supply Chain Efficiency 52

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

Empowering CPO

JULY 2, 2023

As companies grapple with economic uncertainties and rapidly evolving market dynamics, the focus is shifting from mere cost-cutting to strategic cost management. In this context, Managed Procurement Services offer an effective path to achieve this objective, leveraging innovation, process efficiency, and expert insights.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Procurement Software

MARCH 19, 2024

If we let our minds run wild, it’s not difficult to see how much potential this technology could bring to transform many existing procurement processes and tasks. In a recent podcast interview I did with Sam Clive, Head of Product at data analytics platform Rosslyn , we looked at examples they had tested on spend data classification.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Empowering CPO

JULY 2, 2023

Traditionally, procurement was seen as a tactical, back-office process, primarily focused on buying goods and services at the lowest possible cost. However, with time, the function evolved, incorporating strategic elements such as supplier relationship management, risk management, and sustainable sourcing.

Management 52

Management Procurement Strategic sourcing Strategic sourcing 52

Empowering CPO

JULY 16, 2023

Managed procurement services can be defined as an external service that helps streamline a company’s acquisition processes, offering an end-to-end solution that takes into account all aspects of procurement – from sourcing to payment.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Pipefy

DECEMBER 20, 2023

Strategic procurement, or procurement strategic planning, is a data-driven process that helps businesses align procurement and business goals. What is strategic procurement? This also leads to more advantageous strategic sourcing.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Agile and Lean Supply Chain Strategic planning 52

Arkestro

SEPTEMBER 29, 2023

By 2026, the procurement analytics market is predicted to grow at a compound annual growth rate (CAGR) of nearly 20% , equating to $8.36 Autonomous procurement refers to the use of advanced technologies to streamline and optimize the procurement process. billion in the U.S. What is autonomous procurement?

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement Supply Chain Optimization 52

Empowering CPO

JUNE 14, 2023

At its core, procurement is the process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Lastly, traditional models often overlook the strategic potential of procurement. Understanding Procurement A.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

JUNE 30, 2023

These services can range from strategic sourcing and supplier management to purchase order management and invoicing. In an era where efficiency, cost-effectiveness, and strategic value are paramount, managed procurement services play a vital role. It ensures that orders are accurate, approved, and processed in a timely manner.

Management 40

Management Procurement Supply Chain Efficiency Strategic sourcing 40

Empowering CPO

JULY 5, 2023

As we delve into this cutting-edge topic, we’ll uncover how technological innovation is not just revolutionizing procurement processes, but also redefining what managed procurement services can offer businesses in a highly digital era. Now, let’s look at the importance of technology in procurement.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Real-time Visibility 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. Traditional Procurement Methods Historically, procurement has been a manual and time-consuming process, relying heavily on paperwork, phone calls, and face-to-face meetings.

Supply Chain Efficiency 52

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

Una

FEBRUARY 8, 2023

10 Ways Procurement Can Cut Costs This Year Back-to-basic cost reduction strategies that generate 10 ways procurement can cut costs, generate savings, and demonstrate the function’s value. Before we begin, keep in mind that not every savings strategy will be applicable or relevant to your business.

Procurement 59

Procurement Negotiation Contract Strategic sourcing 59

Empowering CPO

JUNE 30, 2023

As the name suggests, Managed Procurement Services involves the strategic outsourcing of procurement processes to expert providers. EmpoweringCPO, as our name suggests, is committed to providing businesses with the necessary tools and intelligence to take charge of their procurement processes. The result?

Supply Chain Optimization 52

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

Empowering CPO

JUNE 27, 2023

As organizations strive to stay competitive, they are increasingly recognizing the need to leverage digital technologies to streamline processes, improve efficiency, and drive growth. Procurement is a strategic function that encompasses the acquisition of goods and services required to support an organization’s operations.

Real-time Visibility 40

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

Empowering CPO

JULY 17, 2023

These are comprehensive solutions provided by external experts that allow companies to streamline their procurement processes, make better sourcing decisions, and ultimately overcome the obstacles they face. But there’s a light at the end of the tunnel: Managed Procurement Services.

Procurement 52

Procurement Supply Chain Efficiency Real-time Visibility Supply Chain Optimization 52

Empowering CPO

JULY 17, 2023

These are comprehensive solutions provided by external experts that allow companies to streamline their procurement processes, make better sourcing decisions, and ultimately overcome the obstacles they face. But there’s a light at the end of the tunnel: Managed Procurement Services.

Procurement 40

Procurement Management Supply Chain Efficiency Real-time Visibility 40

Pipefy

JANUARY 11, 2023

The need for efficient and error-proof procurement processes has never been greater. In order to prepare for the next great disruption, a total overhaul of processes through procurement transformation is required to unlock a business that will not only survive but thrive as well. What is a procurement transformation strategy?

Strategy 52

Strategy Procurement supply chain software solutions Agile and Lean Supply Chain 52

Empowering CPO

JULY 17, 2023

Managed procurement services , a game-changer in the industry, provide a comprehensive solution for businesses that need to improve their procurement operations. We’re a seasoned player in the managed procurement services field, committed to delivering top-notch procurement solutions to businesses across industries.

Management 52

Management Procurement Vendor relationships Supply Chain Efficiency 52

Supply Chain Trend

DECEMBER 22, 2023

In the end, IBP is a philosophy, or belief system that strives for transparency, near perfect integration and alignment, both horizontal (between functions, BUs, even companies) and vertical (between strategy, planning and execution). And artificial intelligence (AI) and intelligent agents will be part of the solution.

Supply Chain Efficiency 78

Supply Chain Efficiency Supply Chain Optimization Quality supply chain budgeting 78

Planergy

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Big Data Analytics: What It Is and Why It Is Important. Big Data Business Intelligence (BI) Spend Analytics. What is Big Data Analytics? How Big Data Analytics Works? How Big Data Analytics Works?

Data 52

Data Import supply chain software solutions Quality 52

ivalua

MAY 30, 2023

Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Analyzing spend and executing these processes across all spend is crucial to navigating these complexities.

Eprocurement 49

Eprocurement Procurement Supply Chain Efficiency Supply chain resilience 49

Empowering CPO

JULY 5, 2023

Introduction In the globalized and rapidly evolving business landscape of the 21st century, the strategic importance of procurement cannot be overstated. 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

Empowering CPO

JUNE 27, 2023

Introduction Overview of Spend Analysis and Its Significance in Procurement In today’s competitive business landscape, effective procurement strategies play a vital role in the success of organizations. Stay tuned to discover how implementing a spend analysis solution can revolutionize your procurement practices.

Real-time Visibility 40

Real-time Visibility Supply Chain Optimization Data Suppliers 40