Procurement Tactics

SEPTEMBER 8, 2022

Or receive our famous weekly newsletter. Additionally, it should not be confused with strategic sourcing which is more focused on the long-term approach. Strategic sourcing promotes the timely supply of goods or services that are needed to meet the objectives of an organization. . First Name. Order Monitoring.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

Procurement Tactics

JUNE 7, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Price Variance — Everything You Should Know Purchase price variance is an important factor for budget preparation, but why? Frequently asked questions + What is price purchase variance? . +

Price 130

Price Purchasing Raw materials Negotiation 130

Empowering CPO

DECEMBER 7, 2020

Preparing list of eligible suppliers before publishing an RFP or RFI is one of the most important step during execution of strategic sourcing process. Thus it becomes more pertinent to review and analyze the method that is adopted to finalize the list of potential suppliers. Frequency of supplier update.

Suppliers 52

Suppliers Strategic sourcing Strategic sourcing Procurement 52

Procurement Tactics

MARCH 23, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Source-to-Contract — The Ultimate Guide Source-to-contract is an important process in procurement. If you want to know about source-to-contract, then this is for you!

Contract 156

Contract Sourcing Purchase orders Bidding 156

Una

JANUARY 31, 2024

Top Tips for Successful Sourcing From Overseas Suppliers in 2024 Get valuable insights into communication and cultural awareness and explore tips for successfully sourcing from overseas suppliers this year. You want to keep your suppliers honest.”

Sourcing 52

Sourcing Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

Una

MAY 3, 2023

Josh connected with The Sourcing Hero team in a very unique way… he is a regular listener and had the creative idea to ask ChatGPT what a Sourcing Hero is. They possess the ability to manage complex sourcing projects while aligning strategies with business goals.

Strategic sourcing 89

Strategic sourcing Strategic sourcing Ethics Negotiation 89

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? What Are Vendor Scorecards?

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Procurement Tactics

AUGUST 25, 2022

Or receive our famous weekly newsletter. Additionally, from 2019 to 2021, he has led his team to win 4 Asia Awards which are the Most Improved Procurement Operation, Transformation, Best Public Procurement Project, and Best Supplier Collaboration. . 33 Procurement Interview Questions in 2022. First Name. Download Free PDF.

Procurement 231

Procurement Supply Chain Optimization Agile and Lean Supply Chain supply chain budgeting 231

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. This approach promotes efficiency throughout the whole procurement process.

Supply Chain Efficiency 178

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

Una

NOVEMBER 29, 2023

Supplier relationship management Dedicate time to nurturing and strengthening relationships with your key suppliers. Strategic sourcing Invest in strategic sourcing by thoroughly analyzing your organization’s procurement needs and identifying opportunities for cost savings, quality improvements, and risk mitigation.

Supply Chain Efficiency 52

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

Planergy

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3. Best Practices & Tips Business Process Management (BPM) Supplier Relationship Management. What is Supplier Tiering? Written by.

Suppliers 52

Suppliers Supply Chain Efficiency Raw materials supply chain budgeting 52

Una

NOVEMBER 8, 2023

Explore ways to rectify the procurement talent shortage by attracting and keeping top sourcing candidates. Read More When Supplier Negotiations Come to a Standstill Supplier negotiations can break down for several reasons so knowing how to prepare head of time, and how handle differing viewpoints is key.

Procurement 52

Procurement Supplier negotiation Influencing Negotiation 52

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

Una

OCTOBER 12, 2023

Onshoring can involve relocating manufacturing facilities or sourcing products and services locally to support domestic suppliers and Made in America policies. Quality and Compliance Different regions and suppliers may have varying standards of quality and regulatory compliance.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 52

Una

JANUARY 17, 2024

A treasure trove of pre-negotiated contracts Picture this – you have access to over 2,000 pre-negotiated contracts offering deep discounts with top suppliers. That’s value that extends far beyond immediate cost-cutting measures, offering a sense of financial security that is, in itself, a strategic advantage.

Negotiation 52

Negotiation Purchasing Strategic sourcing Strategic sourcing 52

Una

NOVEMBER 2, 2023

Instead, a GPO complements your skills and expertise by providing access to a network of suppliers and negotiated discounts. Playbook: How to Improve the Procurement Process and Increase Cost Savings Working with a GPO frees up your time What could you achieve if you had more time to concentrate on strategic tasks?

Negotiation 52

Negotiation Purchasing Strategic sourcing Strategic sourcing 52

Procurement Tactics

AUGUST 23, 2022

Or receive our famous weekly newsletter. Contract management, also known as contract lifecycle management, in the field of procurement refers to the handling of end-to-end contracting with the suppliers and other third parties of an organization. . Enhancing strategic sourcing through data analysis. First Name.

Contract management 130

Contract management Contract supply chain software solutions Management 130

Una

FEBRUARY 8, 2023

Take your context into account – company size, supplier landscape, team skillset, and appetite for change. Use reverse auctions to drive down prices In a reverse auction, suppliers compete to offer the lowest price for a product or service. Reverse auctions aren’t the only way to skip lengthy negotiations with suppliers.

Procurement 59

Procurement Negotiation Contract Strategic sourcing 59

Una

JANUARY 1, 2024

Survey all stakeholders, including your own team, end-users of your procurement systems, your suppliers, heads of other functions, and your leadership team. Check if the survey results confirm or contradict other sources of information. Make a resolution to: Simplify any complex processes that may be discouraging to diverse suppliers.

Procurement 52

Procurement supply chain software solutions Contract Suppliers 52

Una

JUNE 15, 2023

10 Procurement Outsourcing Services Explore ten procurement outsourcing services available to help your sourcing function save more money, time, and effort. The CPO is supported by strategic sourcing managers, category managers, buyers, analysts, contract managers, a compliance officer, an SRM manager, and others as new roles emerge.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Planergy

JANUARY 19, 2024

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. 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.

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

Planergy

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The process of tail spend analysis involves analyzing data from various sources, including supplier invoices, purchase orders, contracts, and other financial documents. This can make it difficult to track and manage.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Real-time Visibility supply chain software solutions 52

Planergy

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. An ROI, also called an Expression of Interest or EOI, is not a solicitation for bids but a way for organizations to gauge interest from potential suppliers. How to gain visibility and control of your indirect spend.

Buyers 52

Buyers Supply Chain Efficiency Suppliers Price 52

Una

OCTOBER 26, 2023

The role will also involve working with suppliers and external partners to align ESG goals and drive sustainable procurement practices. The ESG Manager will need to work closely with the heads of multiple teams to help meet ESG-related targets including the sustainability team, the CFO and finance team, IT, HR, supply, and logistics.

Management 52

Management Procurement Supply Chain Efficiency Stakeholder engagement 52

Planergy

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Ethical Sustainability & Responsibility Procurement Supplier Relationship Management. Ethical Sustainability & Responsibility Procurement Supplier Relationship Management. Preferred Supplier Program Benefits.

Contract 52

Contract Suppliers Buyers Price 52

Planergy

DECEMBER 29, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Additionally, marketing procurement often requires a higher level of negotiation skills, as it is often necessary to negotiate better terms with suppliers to get the best possible price for the goods and services being procured.

Procurement 52

Procurement Raw materials supply chain budgeting supply chain software solutions 52

Una

OCTOBER 3, 2023

Is it genuinely a better experience than, say, picking up the phone to call a supplier? Are they calling the procurement team for help using the system? What can be tweaked to improve efficiency ? Desirability : Do people want to use the system? Delight : How enjoyable or fun is the experience?

Procurement 52

Procurement Collaboration Purchasing Procurement team 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

The Procuretech Podcast

MAY 3, 2022

It was a chaotic process, and as a computer scientist he identified it immediately as a data problem: Much richer information needed to be collected from suppliers, and data processes needed to be much more efficient. He explains a win/win situation here - with both buyers and suppliers benefiting from richer, more detailed data.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Bidding Sourcing supply chain software solutions 52

Planergy

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Class B: These purchases account for 15% of the total cost of purchases for 30% of suppliers. Class C: Tail Spend: These purchases account for 5% of your total cost of the purchases for 50% of your suppliers.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Planergy

OCTOBER 17, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These bureaus track credit information related to businesses, such as business credit cards, trade credit from suppliers, and business loans. How to gain visibility and control of your indirect spend.

Purchasing 52

Purchasing Suppliers Spend management Management 52

Planergy

JULY 5, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These suppliers are more difficult to monitor which increases the risk that import labor or environmental practices remain unnoticed. How to gain visibility and control of your indirect spend. Download Free Copy. Written by.

Sustainability 52

Sustainability Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 52

Planergy

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Additionally, partnering with preferred suppliers and negotiating volume discounts can lead to substantial realized cost savings. How to gain visibility and control of your indirect spend. download a free copy of our guide 3.

Risk 52

Risk Real-time Visibility Negotiation Management 52

The Procuretech Podcast

OCTOBER 19, 2021

This is an e-sourcing tool, looking at some of the more tactical areas of sourcing. Whereas most e-sourcing tools tend to focus on strategic sourcing for highly complex tenders, MySupply focuses on the more straightforward sourcing requirements. Sign up for The Procuretech Podcast Newsletter.

Procurement 40

Procurement Negotiation Sourcing Procurement team 40

Planergy

OCTOBER 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. That’s because the faster a company is able to transform materials and suppliers into a finished product ready for sale, the more efficiently they’re operating, and the quicker cash flow can be generated.

Inventory 52

Inventory Supply Chain Efficiency Purchasing supply chain software solutions 52

Planergy

NOVEMBER 18, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Speak with your most valuable suppliers to negotiate better deals on those items. Conduct supplier performance evaluations to ensure all the suppliers are maintaining their contractual obligations.

Project management 52

Project management Purchasing Suppliers Management 52

Planergy

SEPTEMBER 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Negotiate with Suppliers Seeking better deals or alternative options for products and services can lead to significant cost savings for both individuals and businesses. download a free copy of our guide 3.

Budget 52

Budget Spend management Management Purchasing 52