Future Purchasing

OCTOBER 30, 2024

Here we discussed how leaders recognise that strategies should not be created at too high a level in the taxonomy, as we then start to have multiple sets of business requirements, supply markets etc. Sourcing activity separated from strategy creation. Setting standards. Strategies are continually updated.

Category management

Spend Matters

MARCH 11, 2025

It can change where you source your goods, the way you engineer your goods, how you know who you’re procuring from, where your supply chains traverse and what types of duty deferral program you do or don’t set up.

Supply Chain Optimization

Procurement Insights

APRIL 25, 2025

Tariff Management Dynamic Tariff Optimization: By leveraging real-time value indicators and supply market intelligence, my frameworks enable organizations to optimize sourcing decisions and manage tariff impacts, often reducing tariff-related cost volatility by 1520%.

Supply chain resilience

Procurement Insights

APRIL 7, 2025

Intelligence: Proactive Network Learning vs. Reactive Automation Metaprise : Learns from market trends, supplier performance, and risk factors to predict disruptions and optimize sourcing. Example: Automatically reroutes orders during a supply shortage by analyzing global supplier capacity and logistics data. Zip, Tonkean).

Real-time Visibility

ProcurePort

MAY 26, 2022

• The sourcing function within any organization is part of the broader procurement efforts. The sourcing function ensures that the organization is getting its products from the most suitable suppliers. • An effective sourcing strategy considers […]. . • An effective sourcing strategy considers […].

Sourcing

ivalua

MARCH 9, 2023

A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. What is Source-to-Pay? The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.

Sourcing

ivalua

NOVEMBER 27, 2019

So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. Procurement must be able to apply the general principals of Strategic Sourcing in a way specific enough to maximize the value of each spend category.

Strategic sourcing

Future Purchasing

OCTOBER 4, 2022

Category management is the strategic end-to-end process for managing categories of related supplier spend that aligns business goals and requirements with supply market capability. Value is usually secured via three implementation routes – internal business change, supplier management and sourcing. Business requirements.

Category management

NLPA (Next Level Purchasing Association)

SEPTEMBER 13, 2021

Finding new sources. There are many sources available for finding potential new suppliers. If your company deems it important to consider special categories of suppliers in its sourcing activities, be sure to expend a reasonable amount of effort to identify potential suppliers in any of these categories.

Supply market

Procurement Tactics

APRIL 17, 2023

If they are selling to you unethically sourced materials, then you risk losing your credibility in striving for sustainability. Thus, you are assured that what you are purchasing from them is ethically sourced. Thus, it is important to choose your suppliers wisely. Do you want to learn more about sustainable suppliers? Enroll now!

Sustainability

Procurement Heads

OCTOBER 17, 2022

Procurement doesn’t just buy from supply markets, procurement shapes markets. It could go a number of ways, I think the dominant way in which it is going at the moment is supply market concentration, which is concerning. Technology also adds a lot of potential bias to our sourcing choices.

Supply Chain Efficiency

Jaggaer

SEPTEMBER 8, 2020

JAGGAER understands the traditional roadblocks to spend management and how important it is to gain insight into operational ineffectiveness in order to improve your sourcing success. Identify all the sources available for your spend data, from all of your departments, plants and business units. Step One: Identify. Step Six: Analyze.

Eprocurement

Spend Matters

SEPTEMBER 26, 2024

While these circumstances have brought a tremendous opportunity for the procurement function to position itself as not just a ‘cost-cutter’ but a potential source of competitive advantage, they also brought a number of challenges.” Simple financial checks at the time of validation of a supplier/third-party don’t cut it anymore.

Risk management

Zycus Cognitive Procurement

JANUARY 12, 2021

What is Source to contract? Source to contract (S2C) refers to the set of procurement processes that come into play while sourcing a product or service. How is Source to contract affected during a crisis? How is Source to contract affected during a crisis? 2] Collaborative Sourcing.

Contract

ivalua

JANUARY 31, 2022

CPO’s and CFO’s will join forces to combat inflation and supply risk, supply assurance will be perceived as more important than price, convenience and customer service gaining significant popularity, and vigilance against commodity and supply market manipulation will be critical. #3. More on that here.

Procurement

Procurement Leaders

JUNE 20, 2023

As such, we tend to see the maturity of categories evolve as the business gradually realises the value of strategic sourcing. Evolving category maturity in procurement First, directs and commodified markets are subject to greater oversight and control. This often occurs in a (relatively) consistent order.

Procurement team

Spend Matters

OCTOBER 11, 2022

Now, procurement professionals are tasked with servicing the complex sourcing requests from numerous stakeholders addressing new regulatory compliance requirements to furthering their organization’s ESG commitments, to name a few. The solution to this conundrum is not a traditional S2P suite or best-of-breed application.

Procurement

Procurement Tactics

JUNE 7, 2023

Additionally, a sustainable procurement strategy allows businesses to ensure that the products and services that they will source have no negative environmental and social impacts. It allows them to push for sustainability while also ensuring that the company meets its goals and objectives, as well as increasing its profits.

Procurement strategies

ivalua

MARCH 28, 2019

capturing and exploiting innovation from supply markets and individual suppliers becoming a top priority for organisations and therefore procurement functions.

Procurement

ivalua

MAY 18, 2022

At the same time, organizations have never been more exposed to risk from their supply chains, from supply continuity, quality, or ESG violations. To top it all off, extremely tight supply markets have further shifted negotiating leverage from buyers to suppliers. Yet, too few businesses do so well.

Suppliers

TYA Suite

NOVEMBER 25, 2024

What is strategic sourcing and how does it work? Strategic sourcing is a method used by businesses to buy goods and services in a way that focuses on long-term value, not just short-term savings. Unlike traditional sourcing, which usually aims to find the lowest cost option and looks at the bigger picture.

Strategic sourcing

Una

MARCH 30, 2023

In episode 100 of The Sourcing Hero podcast, our host Kelly Barner reels off a list of not-so-flattering nicknames for procurement she’s encountered that would make any purchasing professional wince. That’s why we’re urging the profession to expand the focus beyond cost to unearth other sources of value. Great question!

Procurement

SCMDOJO

APRIL 26, 2023

Category management may involve the splitting of products (goods or items) or services or may relate to the dissecting of products or services by value, supplier, type, or volume into various categories to allow for easy management and sourcing. Sourcing decisions also play a role in the categorization of items or services.

Category management

Spend Matters

NOVEMBER 2, 2023

Beroe for supply market intelligence) that’s woven into the solutions to enhance better decision making. We were also happy to learn about the network-intelligence powered opportunity analytics from SAP’s incubator venture Source Agent that is slated for inclusion into the base edition of the planned Spend Control Tower solution.

Networking

Spend Matters

MARCH 27, 2024

At Spend Matters, chief research officer and managing director, Pierre Mitchell, echoes that: “For procurement, Gen AI, and the technology around it, is basically a supply market like any other where the technology is used in concert with other supply markets. And as Pierre explained, AI is a supply market.

Procurement

Procurement Leaders

MARCH 26, 2024

By allowing suppliers to contribute directly to product/part design, the buying organisation can connect to diverse knowledge sources more effectively, as long as it retains control over the architecture and interface design.

Suppliers

Supply Chain Game Changer

NOVEMBER 13, 2018

As companies seek to discover ways to increase overall excellence and competitiveness, a new source of value has emerged – Strategic Sourcing. What is Strategic Sourcing? Strategic Sourcing does exactly the same by addressing the total cost. Procurement was once a transactional function focused on supply continuity.

Procurement

Spend Matters

AUGUST 10, 2023

Simfoni’s composable spend management platform provides powerful analytics, e-sourcing, and optimization, with spend automation workflows to help clients identify, manage and optimize strategic and tactical procurement processes. A global/regional presence with sourcing operations close to users and supply markets.

Spend management

Jaggaer

JULY 23, 2019

More than virtually any other sector, sourcing and supplier management in the fashion industry have been exposed to intense scrutiny in recent years, while the functions have become of increasingly strategic importance to business success. This is not easy given the current volatility in supply markets.

Suppliers

CPO Rising

FEBRUARY 23, 2024

The analysts spend hours discussing key learnings from their different market research surveys, as well as the highlights from their […] For more than a decade, Ardent Partners’ senior analyst team has gathered in Boston for a multi-day company strategy and planning meeting.

Buyers

Procurement Heads

APRIL 26, 2023

I found the unique role that procurement plays in being at the heart of a business’ strategy as well as at the very source of its operational performance really interesting. Therefore, we need to ensure that we have a competitive supply chain, obviously, but more importantly that we drive a safe and sustainable supply chain.

Agile and Lean Supply Chain

Procurement Heads

APRIL 26, 2023

I found the unique role that procurement plays in being at the heart of a business’ strategy as well as at the very source of its operational performance really interesting. Therefore, we need to ensure that we have a competitive supply chain, obviously, but more importantly that we drive a safe and sustainable supply chain.

Agile and Lean Supply Chain

Una

NOVEMBER 7, 2022

Research from OECD found that companies “get their most significant ideas for innovative products, services, and processes from outside the business” – with one of the most important outside sources being your supply base. Una’s team of Sourcing Advisors is here to help. Run innovation workshops. Get in Touch.

Innovation

Sourcing and Supply Chain

JUNE 24, 2021

Later on, it is categorically understood that for multiple sources of consumption or multi factory plants, sourcing a similar product by different persons may lead to consumption of more time, money, and resources. It is the process of collecting and collating the data of key drivers that impact the supplies as well as product prices.

Category management

Jaggaer

MARCH 23, 2020

And even if you got that far, you would also need to understand the underlying data and how to extract the subsets you needed from the data source. AI-assisted smart assistants now enable user to go beyond simple click-through self-service to guide you through model selection, insight explanation etc.

Procurement

SCMDOJO

FEBRUARY 13, 2023

Supporting the organization’s goals through effective strategies: The procurement team supports the organization by monitoring supply markets and trends, identifying critical materials, and developing effective procurement strategies to increase competitiveness.

Procurement

Barkers Procurement

JANUARY 8, 2023

Category management is a long-term, strategic approach to procurement in which certain employees or teams of employees are responsible for procuring specific types of items, such as IT equipment, office supplies or construction materials. Strong supply market knowledge. Below is a look at these principles in more depth.

Category management