Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. Procurement teams can proactively monitor market conditions and adjust sourcing strategies to mitigate risks and ensure continuity of supply. Can you spot the mistakes!

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Procurement Templates

DECEMBER 11, 2024

Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value.

Procurement 130

Procurement Supply Chain Efficiency Cost of ownership supply chain budgeting 130

IBM Supply Chain Blog

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

Procurement Software

MAY 9, 2022

Supplier Relationship Management (SRM) can be complex. Supplier relationship management software can make things a little bit easier. Sales & Marketing teams have reaped the benefits of Customer Relationship Management (CRM) solutions & Marketing Automation for the past 15–20 years.

Supplier relationship management 52

Supplier relationship management supply chain software solutions Suppliers Management 52

Procurement Software

MAY 9, 2022

Supplier Relationship Management (SRM) can be complex. Supplier relationship management software can make things a little bit easier. Sales & Marketing teams have reaped the benefits of Customer Relationship Management (CRM) solutions & Marketing Automation for the past 15–20 years.

Supplier relationship management 52

Supplier relationship management supply chain software solutions Suppliers Management 52

Una

AUGUST 31, 2023

Overcoming Challenges with Strategic Sourcing for SMEs Explore how strategic sourcing for SMEs can help procurement professionals overcome the unique challenges of operating a small business. Strategic Sourcing for SMEs The Human Factor in Strategic Sourcing Benefits of Strategic Sourcing 5.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

Arkestro

DECEMBER 26, 2024

By automating routine work, procurement professionals can focus on high-impact tasks like strategic sourcing and relationship building with key suppliers. Strategic sourcing prioritizes developing long-term, value-driven relationships with suppliers rather than just chasing the lowest price.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Skill Dynamics

FEBRUARY 4, 2025

Strategic Sourcing and Supplier Relationship Management Strategic sourcing skills are crucial for procurement professionals to effectively identify and then leverage opportunities within the supply base to create value. Strategic sourcing can also help reduce the overall risk in a given supply chain.

Procurement 59

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 59

ivalua

FEBRUARY 8, 2023

Procurement teams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively.

Supply chain resilience 242

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

Procurement Templates

JUNE 18, 2023

Foster supplier relationships: Successful procurement leaders understand the importance of building strong relationships with suppliers. Develop strategies for supplier relationship management and supplier development to optimize supply chains and drive innovation.

Leadership 147

Leadership Procurement Agile and Lean Supply Chain Supply Chain Efficiency 147

ivalua

AUGUST 17, 2022

O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategic sourcing, supplier relationship management, category management, vendor quality, sustainability, and compliance.

Sourcing 130

Sourcing Buying process Supplier relationship management Supply Chain Optimization 130

CPO Rising

SEPTEMBER 13, 2024

Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help… The post CPO Rising Listicle: 8 Reasons Why a CPO Needs a Strong Strategic Sourcing Operation appeared first on CPO RISING - THE SITE FOR CHIEF PROCUREMENT OFFICERS & LEADERS IN SUPPLY MANAGEMENT.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Chief Procurement Officer Sourcing 52

Procurement Insights

MAY 1, 2025

Supplier Relationship Management: Archives provide a full view of supplier performance over time, supporting better selection, development, and negotiation.

Procurement 40

Procurement Supplier relationship management Supply Chain Optimization Negotiation 40

Jaggaer

OCTOBER 24, 2024

That’s why supplier collaboration—that consistent, trusted, and responsive interaction between supplier and manufacturer—is pivotal to manufacturing success. Supplier Collaboration vs. Supplier Relationship Management What good is having the best suppliers if you can’t communicate well enough to leverage their products and skills?

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

Empowering CPO

JANUARY 28, 2024

At EmpoweringCPO, we excel in Strategic Sourcing Outsourcing , a methodical approach to procurement that emphasizes data-driven decision-making, market intelligence, and innovative procurement analytics tools. Essential Tips and Tricks: Data-Driven Decision-Making: The foundation of successful Strategic Sourcing lies in data.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Optimization 40

Procurement Insights

MAY 3, 2025

Sourcing Innovation Launch Date: June 2006 Overview: Authored by Michael Lamoureux, a Computer Science PhD, Sourcing Innovation focuses on procurement technology, strategic sourcing, and supply chain management. AI, e-sourcing), spend analytics, and best practices.

Procurement 40

Procurement Supply Chain Optimization Ethics supply chain software solutions 40

SCMDOJO

MARCH 24, 2025

This can be achieved by securing discounts on agreement terms related to delivery, quantity, early payments, and the benefits of a long-term relationship with the supplier. Lean cost management: accounting for lean by establishing flow. Historical lessons in purchasing and supplier relationship management.

Price 56

Price Purchasing supply chain budgeting Raw materials 56

Procurement Tactics

AUGUST 16, 2022

It is obvious why it is important to have a strong relationship with your supplier. However, many organizations create problems for themselves due to a lack of supplier relationship management and the lack of strategic sourcing. . What is supplier management?

Suppliers 130

Suppliers Supply Chain Efficiency Management Supplier relationship management 130

Una

AUGUST 30, 2022

Modern sourcing experts are more likely to point to Cloud-based , end-to-end procurement platforms, while those on the leading edge will list all sorts of disruptive technologies ranging from predictive AI to machine-learning enabled chatbots, IoT wearables, and more. How to Improve Strategic Supplier Relationship Management.

Procurement 98

Procurement e2e Supplier relationship management Real-time Visibility 98

IBM Supply Chain Blog

FEBRUARY 28, 2024

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

Sourcing 94

Sourcing Strategy Supply Chain Efficiency e2e 94

World of Procurement blog

MAY 8, 2024

Supplier Relationship Management Your suppliers are partners in delivering value. Focus on building collaborative relationships based on trust and transparency. Cost Savings - The total cost reduction achieved through strategic sourcing, price negotiations, product rationalization etc.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Software

MARCH 16, 2025

Furthermore, Procure-to-Pay (P2P) , e-Sourcing and Supplier Relationship Management (SRM) apps often contain supplier portals. Three-way communication between Buyers, Stakeholders and Suppliers avoids the need for unnecessary emails.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

SCMDOJO

APRIL 26, 2023

Job Description and Requirements ] At a glance: What is Category Management in Procurement? Category Management Software What is Category Management in Procurement? This strategy also ensures strategic supplier relationship management as per the various categories.

Category management 101

Category management Management Supplier relationship management supply chain software solutions 101

ivalua

FEBRUARY 25, 2021

A purpose-built solution can enforce proper governance and standards, automate master data optimization activities, identify product standardization opportunities, and automate category management for strategic sourcing in supply chain. Demand planning capabilities.

supply chain budgeting 221

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

ivalua

JUNE 1, 2022

Because Procurement teams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. Strategic sourcing professionals may end up doing tactical work, as well.

Supply chain resilience 130

Supply chain resilience Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 130

ivalua

MARCH 16, 2021

Because Procurement teams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. Strategic sourcing professionals may end up doing tactical work, as well.

Supply chain resilience 130

Supply chain resilience Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 130

ivalua

AUGUST 17, 2021

However, it is important to understand the differences and varying degrees of focus between direct and indirect spend in procurement and sourcing. They will need to understand internal and external forces and increasingly get to grips with balancing cost savings with long term supplier relationships.

Procurement 130

Procurement Procurement team Sourcing Supplier relationship management 130

Procurement Insights

MAY 10, 2025

Cost Management: Long-term pricing and spend trend data empower organizations to negotiate better contracts, avoid overpayments, and optimize sourcing strategies, directly impacting the bottom line. Cost reductions: Up to 30% through improved analytics and strategic sourcing.

Procurement 52

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization 52

Jaggaer

OCTOBER 24, 2024

Access to supplier profiles, performance data, risk factors, and transactions—even down to the level of component receipts—helps you collaborate more effectively to increase customer satisfaction, better manage risk, and streamline operations.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

Procurement Insights

JANUARY 3, 2025

20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Analytics and insights from procurement data were minimal.

Agile and Lean Supply Chain 52

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

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. A Paradigm Shift in the Procurement Function.

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Spend Matters

SEPTEMBER 14, 2023

Risk reduction is especially important in the supply chain, where leaders are focused on supply and supplier transparency to assess vulnerabilities. Strategic sourcing remains critical, especially given our inflationary environment. A recurring request is to reduce risk and contain costs.

Procurement 117

Procurement Supply Chain Efficiency Category management e2e 117

IBM Supply Chain Blog

JANUARY 31, 2024

Strategic sourcing methods : ethical, responsible and sustainable sourcing There are many types of sourcing strategies. Strategic sourcing, specifically, is a procurement strategy that factors in a company’s long-term goals and business objectives when evaluating potential suppliers.

Sourcing 91

Sourcing supply chain budgeting Supply Chain Efficiency Agile and Lean Supply Chain 91

Procurement Tactics

AUGUST 23, 2022

Effective contact management can help the organization in: Establishing a framework to streamline and standardize contract preparation, negotiations, and renewals. . Enhancing strategic sourcing through data analysis. Improving supplier relationship management through data transparency. .

Contract management 130

Contract management Contract supply chain software solutions Management 130

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

By leveraging data analytics, procurement teams can identify areas for cost savings, such as negotiating better contracts with existing suppliers or consolidating purchases to leverage economies of scale. Strengthen Supplier Relationships: Traditionally, supplier relationships have often been transactional.

Category management 52

Category management Management Procurement Supplier relationship management 52

Supply Chain Game Changer

JANUARY 21, 2020

One way or the other, eSourcing is still utilized as a support, or e-enablement to the strategic sourcing cycle, which means it’s a function is heavily rooted in prospecting, qualifying, selecting, and onboarding suppliers digitally. Supplier Relationship Management.

Procurement 87

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 87