Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain

Jaggaer

MARCH 24, 2025

Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supply chain risks. Together, they enable procurement teams to move from reactive to proactive, optimizing sourcing strategies, improving supplier negotiations, and ensuring more accurate, real-time decision-making.

Procurement

SCMDOJO

FEBRUARY 26, 2025

Introduction As global supply chains evolve, ensuring cost efficiency is crucial. One way to assess the cost performance of any function within the supply chain is through Cost Performance Index (CPI). What is the Cost Performance Index (CPI)? According the research paper by Winanda et.

supply chain budgeting

Spend Matters

MARCH 25, 2025

However, the reality is that stakeholders, including budget owners, business units, etc., Finance departments focus on spend visibility, payment optimization and cost control. To understand why, lets look at the following parallel: Procurement professionals often discuss spend under management (SUM) as a key metric of success.

Stakeholder engagement

ivalua

JUNE 9, 2025

Inefficiencies are baked into the procurement process, wasting time and budget while leaving the door open to errors such as missed deadlines or incorrect orders. Supplier risk adds even more complexity. Payments AI enhances payment workflows by optimizing timing for early payment discounts and cash flow management.

Sourcing

HICX

JUNE 9, 2025

These may include processes related to: Supplier evaluation Supplier onboarding Performance tracking, Supplier risk management Contract analysis By automating repetitive tasks and analyzing large datasets, AI improves efficiency, reduces errors, and enhances decision-making. How AI can forecast demand in the supply chain?

Suppliers

Procurement Insights

DECEMBER 20, 2024

Focused on Supplier Engagement: Payback comes through better negotiation outcomes, especially in high-value or high-volume procurement categories. Best Fit: Organizations aiming to reduce costs through supplier negotiations , especially those handling volatile or commodity-based procurement.

supply chain budgeting

Procurement Insights

MARCH 16, 2025

Improved Outcome: Procurement teams get context-aware supplier suggestions , reducing risk and improving supplier relationships. Contextualized Spend Analysis & Cost Optimization AI models use MCP to remember previous spend categories, budget constraints, and organizational purchasing behavior.

Supply Chain Optimization

TYA Suite

JUNE 22, 2025

Procurement analytics platforms enable access for multiple users across departments, encouraging collaboration between procurement, finance, supply chain, and operations teams. Evaluate supplier reliability, quality, delivery timelines, and service levels.

Procurement

Jaggaer

FEBRUARY 5, 2025

Secondly come eProcurement, Supply Chain Collaboration, Invoicing, and Payments. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. Digitalization also fosters greater agility in supplier management.

Supply Chain Efficiency

Finale Inventory

JULY 18, 2025

Navigate Supply Chain Challenges with Supplier Management Software In today's volatile marketplace, fragile supply chains pose significant risks for growing ecommerce brands. Learn how Finale Inventory seamlessly connects supplier information to inventory planning for reliable stock replenishment.

supply chain software solutions

Procurement Insights

DECEMBER 6, 2024

ProPurchaser ** ProPurchaser** operates in the procurement intelligence and cost management sector, providing tools and data to assist supply chain professionals in negotiations. It facilitated real-time transactions between manufacturers and suppliers of packaging materials, ingredients, and other direct materials.

Supply Chain Efficiency

TYA Suite

MAY 13, 2025

Is your procurement process draining your budget? This is why procurement cost reduction is not just an option; its a necessity. By reducing procurement costs, businesses can increase profit margins without raising prices or cutting corners. Chances are, thats why you landed here. Lets help you fix it. The result?

Strategy

TYA Suite

APRIL 13, 2025

You might face delays in approvals, end up placing duplicate orders, or be surprised by unexpected costs. Without a proper system, it becomes harder to track budgets, follow company rules, and manage suppliers. It saves time, reduces mistakes, and gives you a clear view of all purchases, helping you make better decisions.

Purchasing

Procurement Insights

MAY 10, 2025

His Proprietary Historic Industry Archives include decades of case studies, articles, and insights, such as the Nokia-Ericsson supply chain risk study or his work with the Department of National Defence (DND) on indirect materials procurement. Benefit: Improved sourcing could yield 510% cost savings on annual spend.

Procurement

Procurement Insights

APRIL 12, 2025

These agents leverage principles of swarm intelligence inspired by the behavior of biological swarms like ants or beesto optimize and automate complex processes within the ERP environment. ” So, in today’s post, let’s discover what they are and how relevant they are to 2025 procurement and supply chain management.

Supply Chain Optimization

SCMDOJO

MARCH 19, 2024

In today’s fast-paced business landscape, having an efficient supply chain department is more important than ever. A streamlined supply chain can make a significant impact on the overall success of a business, improving operational efficiency, increasing customer satisfaction, and driving revenue growth.

Supply Chain Optimization

SCMDOJO

APRIL 29, 2024

Are you interested in understanding how businesses effectively manage their supply chains? Look no further – this guide is here to help you grasp the fundamentals of supply chain management (SCM) and how it can lead to success. It encompasses activities such as procurement, supplier selection, and evaluation.

Supply chain management

Procurement Tactics

MAY 30, 2023

Their primary responsibilities include negotiating with suppliers to obtain favorable terms and prices, ensuring the quality and timely delivery of goods and services, and managing the procurement process from start to finish. This is a crucial responsibility as it helps the organization to reduce costs and increase profitability.

Management

SCMDOJO

OCTOBER 7, 2024

The Global Supply Chain is thriving with each passing day. However, the game-changer is how Cost Efficiency and Cost Effectiveness play their role in the supply chain. Let’s learn the role of cost efficiency vs cost effectiveness! What is Cost Efficiency?

Supply Chain Efficiency

Procurement Tactics

JUNE 28, 2023

Tracking Key Performance Indicators (KPIs), conducting supplier evaluations , and maintaining supplier scorecards can be a part of this process. This allows for the identification and implementation of measures to mitigate any delays or obstacles in the supply chain by organizations.

Supply Chain Efficiency

SCMDOJO

DECEMBER 14, 2023

Here, the agency seeks to understand the client’s specific needs, budget constraints, and quality standards. Supplier Identification: Scouring the Market Once armed with the client’s requirements, the sourcing agency embarks on a mission to identify potential suppliers. When do you need the Sourcing Agency?

Sourcing

Procurement Templates

MARCH 3, 2024

Risks may include budget constraints, supply chain disruptions, quality issues, legal compliance, etc. Budget Analysis : Evaluating the available budget and financial resources is crucial to ensure that the procurement activities align with the organization’s financial capabilities.

Strategic sourcing

Una

JUNE 1, 2023

By strategically managing the acquisition of goods and services, they have the power to optimize costs, enhance operational efficiency , and boost overall profitability. Procurement professionals play a vital role in shaping the success of organizations.

Procurement

Una

MARCH 6, 2023

After all, procurement teams are supposed to be the cost-cutting experts, so an unnecessarily expensive and wasteful function goes against procurement’s central mission. Getting Lean may therefore mean finding ways to reduce cost-to-source, or reducing the team headcount and doing more with less.

Purchasing

ivalua

MARCH 9, 2023

S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. It starts with identifying the right suppliers for a need, sharing requirements and evaluating supplier offers, selecting the most appropriate supplier, negotiating terms and contracting with them to receive goods and/or services.

Sourcing

Arkestro

OCTOBER 10, 2023

Then we’ll discuss how AI and other innovative technologies are removing current complexities, allowing oil and gas companies to reduce costs, optimize supply chains, and make data-driven decisions. As a result, the industry’s efficiency is falling while operational costs rise. trillion.

Agile and Lean Supply Chain

Procurement Templates

APRIL 15, 2024

This can be beneficial in procurement when building relationships with suppliers, negotiating deals, and resolving conflicts. Communication: Good communication skills are often associated with extraversion, which can aid in conveying requirements clearly to suppliers and understanding their offerings effectively.

Influencing

Arkestro

NOVEMBER 5, 2024

The Hackett Group’s 2024 Key Issues Study found that financial teams’ workloads are expected to increase 5% this year while headcount and budget slightly decrease, leaving a productivity gap of 6% for CFOs to find a way to make up. However, as procurement teams know, optimizing these processes is multifaceted and complex, especially at scale.

Procurement

Arkestro

MARCH 27, 2024

After years of focusing on cost reduction, the majority of procurement leaders say they plan to spend more and increase workloads in 2024, meaning procurement buyers will have more power to influence change and optimize spend across the entire supply chain. But what does a procurement buyer do, exactly?

Buyers

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. needed to deliver on the KPIs.

Strategic sourcing

Finale Inventory

SEPTEMBER 17, 2024

Managing inventory efficiently helps you optimize your stock levels and ensures you don’t run out of popular items or waste money on excess inventory. Understanding Inventory Management The Importance of Inventory Management in Ecommerce Inventory management involves overseeing, controlling, and optimizing your product stock levels.

Inventory

Pipefy

FEBRUARY 13, 2023

Procurement is the process businesses use to source and obtain goods/services from external suppliers to achieve strategic objectives and fulfill business needs or purchase requests. After all, both processes evaluate needs, closely examine budgets, establish schedules, and identify product requirements and specifications.

e2e

Una

JUNE 1, 2023

By strategically managing the acquisition of goods and services, they have the power to optimize costs, enhance operational efficiency , and boost overall profitability. Procurement professionals play a vital role in shaping the success of organizations.

Procurement

Finale Inventory

JUNE 21, 2024

Raw materials play a fundamental role in the supply chain of ecommerce businesses. The quality, availability, and cost of raw materials can significantly impact the production process and ultimately influence the competitiveness of online retailers in the market.

Raw materials

Finale Inventory

JUNE 21, 2024

Raw materials play a fundamental role in the supply chain of ecommerce businesses. The quality, availability, and cost of raw materials can significantly impact the production process and ultimately influence the competitiveness of online retailers in the market.

Raw materials

Spend Matters

DECEMBER 28, 2023

An Amazon survey found 53% of procurement teams expect their budgets to increase in the coming year, with a whopping 98% planning to invest in automation, AI, and analytics and insights tools. Inflation, a complex and constrained supply chain, and threats of recession all impacted how procurement processes played out externally.

Procurement