Procurement Tactics

SEPTEMBER 7, 2022

However, what is it? In this article, we will discuss the definition of sustainable procurement and its significance in every sector. Once you are done reading this article, you will be able to know how to sustain the procurement process of your organization. What is Sustainable Procurement? Why is it Important?

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Procurement Tactics

SEPTEMBER 8, 2022

Do not worry if you do not know operational procurement as this article will help you understand it. Once you reach the end of this article, you will have a better grasp of operational procurement. Once you reach the end of this article, you will have a better grasp of operational procurement. How Does it Work? Know the demand.

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Procurement Purchase orders Purchasing Strategic sourcing 226

Procurement Tactics

NOVEMBER 23, 2022

However, what is its impact on procurement? . In this article, we will discuss what corporate social responsibility and sustainable procurement are. After you finish reading this article, you will gain knowledge about the impact of CSR within procurement. Corporate Social Responsibility – What is it?

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Procurement Tactics

SEPTEMBER 16, 2022

However, what kind of help does it do for businesses? In this article, we will talk about what sustainable procurement policies are. Finishing this article will allow you to create your own procurement policy that will help your company achieve economic, social, and environmental goals. Editor's note: Hi there!

Sustainability 130

Sustainability Procurement Supply Chain Efficiency Purchasing 130

Procurement Tactics

DECEMBER 6, 2022

In this article, we will discuss what spend management is. After reading this article, you will gain a deeper understanding of what spend management is. What is Spend Management? For you to keep a record of all your spending and which resource is bringing more value or profit, spend management is necessary.

Spend management 172

Spend management Management Real-time Visibility Budget 172

SCMDOJO

SEPTEMBER 18, 2023

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. Sourcing plays a crucial role in building strong supplier relationships and achieving cost-effectiveness in the supply chain.

Procurement 97

Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 97

Procurement Heads

DECEMBER 16, 2022

However, our article ‘What’s Happening in the Procurement Recruitment Market’ states that we are entering volatile and uncertain times – affecting the ease with which companies can recruit the best procurement professionals. Here’s how digital transformation is elevating procurement. billion (£11.8

Procurement 130

Procurement Supply Chain Efficiency supply chain software solutions Procurement team 130

Skill Dynamics

MARCH 12, 2024

What is strategic cost management? In brief, strategic cost management is implementing effective cost optimization strategies that lead to improved profitability, operational efficiency, and resource allocation. It’s an approach that many businesses need.

Cost optimization 69

Cost optimization Cost of ownership Procurement Strategy 69

Una

DECEMBER 6, 2022

Procurement no-brainers include low-risk, high-return activities like centralizing data , paying suppliers on time, and optimizing processes. Every time you purchase through an Una contract, we are paid an administration fee by the supplier. In other words, we make money by saving you money. Access to deep supplier discounts?

Purchasing 98

Purchasing Procurement strategies Risk Suppliers 98

Procurement Tactics

DECEMBER 26, 2022

In this article, we will check five procurement strategy case studies that can give you insight into strategies that they have done to streamline their processes. After reading this article, you will gain enough knowledge on tackling the problems in your procurement by formulating your very own strategy.

Procurement strategies 267

Procurement strategies Strategy Procurement Bidding 267

Procurement Tactics

AUGUST 15, 2022

For this article, we will show you steps on how to create a successful supply chain plan. Once you finish reading this article, you will be able to successfully create a resilient and effective supply chain for your organization. What is Supply Chain Planning? Strategic Planning. Production management.

Supply Chain Efficiency 130

Supply Chain Efficiency Supply Chain Optimization Supply chain Supply 130

Procurement Software

MARCH 12, 2024

But make no mistake. However, it’s proven ability to cut down the time and resources needed to complete many everyday tasks is not to be underestimated. Could AI in procurement make us irrelevant? What is Generative AI and why is it different? In one form another, it’s here to stay.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Let’s look at what strategic sourcing is, its best practices, and five key benefits: What is the difference between strategic sourcing and procurement?

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Tactics

NOVEMBER 28, 2022

In this article, we will discuss what cost-effectiveness and cost-efficiency are. Once you are done reading this article, you will know the difference between cost-effectiveness and cost-efficiency. What is Cost-Effectiveness? What is Cost-Efficiency? Or receive our famous weekly newsletter.

Supply Chain Efficiency 130

Supply Chain Efficiency supply chain budgeting Inventory Budget 130

Una

SEPTEMBER 26, 2023

How to Repair Damaged Supplier Relationships Learn how to repair damaged supplier relationships by using communication, trust-building, and negotiation tactics to get back on track. Surprisingly, the breakdown of a supplier relationship can sometimes resemble a spat between the main characters of the 1990s hit series.

Suppliers 52

Suppliers Supply Chain Efficiency Negotiation Supply chain 52

Una

AUGUST 8, 2023

Getting Strategic About Sustainability in Procurement Tips for getting strategic about sustainability in procurement and the best practices to adopt to foster a more responsible future. It involves optimizing processes, reducing waste, and improving resource management, ultimately leading to long-term cost savings.

Sustainability 52

Sustainability Procurement Procurement team Procurement strategies 52

SCMDOJO

OCTOBER 27, 2023

Supplier negotiation is the most critical skill in the world of procurement. Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. It is a skill that needs a strategic approach and it is not something anyone can do.

Supplier negotiation 88

Supplier negotiation Negotiation Suppliers Supply Chain Efficiency 88

Una

NOVEMBER 2, 2023

Working With a GPO Makes You More Effective in Your Role Explore how working with a GPO will not only make your job easier, but help elevate you to become truly great at your profession. Does bypassing the need to learn different chord shapes across different keys make someone a less effective guitarist? Here’s how.

Negotiation 52

Negotiation Purchasing Strategic sourcing Strategic sourcing 52

Procurement Software

MARCH 19, 2024

We therefore must try to understand what potential impact generative AI could have on procurement organisations. Traditional vs. Generative AI: What’s the difference? Traditional AI systems are primarily used to train algorithms to analyse data and make predictions. There’s a valid argument both ways, but one thing is for sure.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Supply Chain Trend

DECEMBER 22, 2023

Hardly a recipe for improving planning & decision making. Many which I’ve highlighted over the years in blogs and articles. Intelligent IBP effectively combines human and machine strengths with good decision practices to consistently make timely, high-quality, horizon agnostic business decisions. I was a planner once.

Supply Chain Efficiency 78

Supply Chain Efficiency Supply Chain Optimization Quality supply chain budgeting 78

ivalua

NOVEMBER 27, 2019

If you have ever read an article about Procurement best practices, you know that a very small minority of teams are categorized as leaders and an equally small minority are considered laggards. So what does “good” strategic sourcing look like? Good” strategic sourcing…. Doug Keeley, Product Marketing Manager, Ivalua.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Suppliers 147

SCMDOJO

APRIL 4, 2023

By harnessing the power of data and analytics, companies can uncover valuable insights into their supply chain processes, pinpoint areas in need of improvement, and make informed decisions that can boost their bottom line. Key Takeaways What is Supply Chain Analytics?

Supply Chain Analytics 110

Supply Chain Analytics Supply Chain Optimization supply chain budgeting Supply Chain Efficiency 110

Una

MARCH 16, 2023

Just calling to let you know we’re selling the current motor pool vehicles and will be switching to a cheaper supplier for our commercial fleet.” If the procurement team in this example had more influence, the logistics manager wouldn’t have dreamed of making this sort of decision without first engaging them.

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

Procurement Tactics

OCTOBER 5, 2022

In this article, we will discuss what KPIs are and their importance in the supply chain. Once you read this article, you will know the KPIs that are crucial in measuring your processes. We all know that you can never know what to improve if you do not know how to assess the processes that you want to improve.

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Supply Chain Efficiency Supply chain Supply Chain KPIs Supply 194

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. What should we focus on beyond cost? Two that really stood out were “ bean-counters ” and “ penny-pinchers ”. Great question!

Procurement 104

Procurement Supply Chain Efficiency Procurement team Sustainability 104

Arkestro

JANUARY 23, 2024

Resources / Blog / What does a Procurement Manager do? Job Description, Skills, and Qualifications What does a Procurement Manager do? Procurement managers play a key role in this rapid growth, helping organizations optimize costs, negotiate favorable terms with suppliers, and ensure financial efficiency.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Claritum

AUGUST 23, 2019

Claritum Article - Procurement Blog. Achieving results with supplier diversity. Strategic approach to supply diversity. Resources. Tapping into these organisations, as part of your supplier network, has become an essential part of larger organisations strategies. Supplier diversity is good for business.

Supply 32

Supply Agile and Lean Supply Chain Suppliers Supply chain 32

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. IN THIS ARTICLE. Cristian Maradiaga.

Suppliers 52

Suppliers Supply Chain Efficiency Raw materials supply chain budgeting 52

Una

DECEMBER 5, 2023

Why You Should Hire Older Individuals to Work in Procurement Learn why it makes sense to hire older individuals to work in procurement and take advantage of their talent and experience. Older workers bring with them a treasure trove of knowledge acquired over years of navigating the twists and turns of the supplier landscape.

Procurement 52

Procurement Procurement team Negotiation Collaboration 52

Una

JANUARY 24, 2024

Balancing Procurement's Biggest Priorities in the Fast Lane No matter the industry, Sourcing Heroes need to be adept at identifying and balancing procurement’s priorities to make the biggest impact. There are a variety of solutions that can be applied in getting the final result that you want in the end.”

supply chain software solutions 52

supply chain software solutions Supply Chain Optimization Innovation Procurement 52

Claritum

AUGUST 23, 2019

Claritum Article - Procurement Blog. Achieving results with supplier diversity. Strategic approach to supply diversity. Resources. Tapping into these organisations, as part of your supplier network, has become an essential part of larger organisations strategies. Supplier diversity is good for business.

Supply 36

Supply Agile and Lean Supply Chain Suppliers Contract 36

Finale Inventory

OCTOBER 20, 2023

Looking for a hack to streamline operations between you and your suppliers? What can vendor feeds do for you? Imagine you’re a seller working with multiple suppliers, from local artisans to international manufacturers—each of these suppliers have varying product availability. Get excited for Vendor Feeds in Finale.

Inventory 59

Inventory Suppliers Demand Supply Chain Optimization 59

Una

AUGUST 9, 2023

This article delves into strategies for accelerating speed to savings in procurement without compromising on quality, integrity, and effectiveness. These may include poor-quality products, unethical suppliers, or even legal and compliance issues. Your objective? To reach your destination faster than ever before. Did you know?

Procurement 52

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Quality 52

Una

NOVEMBER 29, 2023

By Hugo Britt | November 30, 2023 Search Search What would Santa do without the ability to outsource key tasks to his elves? Things you can do while a GPO works behind the scenes And what about you? Supplier relationship management Dedicate time to nurturing and strengthening relationships with your key suppliers.

Supply Chain Efficiency 52

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

Una

JUNE 22, 2023

By Mackenzie Oakley | June 22, 2023 Search Search When it comes to running a successful business, procurement is a crucial function that can make or break your bottom line. It involves strategic planning, analysis, and negotiation to ensure that you are getting the best quality products or services at the most competitive price.

Procurement 52

Procurement Purchasing Procurement strategies Procurement team 52

Una

MARCH 14, 2023

Several key characteristics make the procurement intrapreneur a driving force for influencing positive change and innovation within an organization. What is a procurement intrapreneur? However, it takes an intrapreneurial mindset to be open to new ideas from suppliers, implement, and scale them within the organization.

Procurement 97

Procurement Purchasing Innovation Risk 97

SCMDOJO

DECEMBER 14, 2023

Knowing how crucial time is for keeping customers happy and influencing what they buy, it’s clear that handling lead time (which means the time it takes to get things ready) is not just needed for business, but it also gives an edge in today’s competitive and complex economy.

Agile and Lean Supply Chain 75

Agile and Lean Supply Chain Supply Chain Efficiency Supply Chain Optimization Real-time Visibility 75