Procurement Software

MARCH 11, 2022

Instead of looking at direct materials and purchased parts, the hidden opportunity is often found in effective tail spend management. There’s a perfectly logical reason that organisations go after the more “sexy” areas of spend. These are the spend categories that they typically understand best.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Tactics

AUGUST 22, 2022

Tail Spending — Everything You Should Know. Many people in procurement do not have an idea what tail spending is. In this article, we will discuss what tail spending is and how you can manage it. In this article, we will discuss what tail spending is and how you can manage it.

Purchasing 130

Purchasing Suppliers Negotiation Procurement 130

Spend Matters

FEBRUARY 26, 2024

Such an area is tail spend, the purchases that makeup approximately 80 percent of transactions/parts/suppliers but only 20 percent of total spend volume. And, following the Pareto principle, many organizations ignore their tail spend because of the apparently meager return on investment.

Market analysis 96

Market analysis Sourcing Spend management Purchasing 96

Procurement Foundry

MAY 2, 2023

What is tail spend? Tail spend in procurement describes infrequent, low-value purchases that can add up significantly over time. The term "tail" refers to the end of a distribution curve with many small transactions.

Strategy 52

Strategy Management Purchasing Procurement 52

ivalua

AUGUST 17, 2021

Successful deployment of source-to-contract suite increases tail supplier management efficiency and optimizes overall process automation. Ahlsell was looking to optimize the management of large tail-end trading goods suppliers.

Suppliers 246

Suppliers Management Contract Spend management 246

Una

AUGUST 17, 2022

Understanding and Taming Tail Spend. A comprehensive guide designed to tame tail spend in a way that leads to reduced risk and increased cost savings. Taming Tail Spend. You’ll hear from industry experts who have been there, done that, and can share best practices for managing tail spend.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

Spend Matters

JANUARY 16, 2024

For several years now, Spend Matters has been collecting and publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market.

Procurement solutions 82

Procurement solutions Procurement Spend management Supply Chain Optimization 82

Art of Procurement

FEBRUARY 21, 2023

Traditionally, procurement has been measured on their ability to generate savings and bring spend under management. The post The Psychological Long Tail of Supply Chain Disruption appeared first on Art of Procurement. That has led to.

Supply chain 134

Supply chain Supply Procurement Management 134

Spend Matters

OCTOBER 25, 2022

Today, we talk to David Bush of Simfoni, a provider of spend management technology solutions that include tail spend management, spend analytics, e-sourcing and optimization. Read more. ).

Spend management 78

Spend management Procurement strategies Sourcing Strategy 78

Spend Matters

MARCH 9, 2023

As our focus at Spend Matters is on helping procurement practitioners make the right decisions about the technology they invest in to improve their processes, efficiency and value proposition, staying on top of the young and emerging players is essential for our ongoing deep coverage of the market.

Procurement 77

Procurement Spend management Procurement strategies Sustainability 77

Arkestro

JANUARY 4, 2023

Procurement has had massive challenges and targets over the past year: Managing inflation. Reducing spend. Companies Will Scale Their Procurement Knowledge Base and Enablement Programs To Attract and Retain A New Profile of Category Management Talent. This will provide the trust for a ‘set-and-forget’ tail spend strategy.”.

Supply Chain Optimization 104

Supply Chain Optimization Procurement team Agile and Lean Supply Chain Supply Chain Efficiency 104

Spend Matters

NOVEMBER 29, 2022

Simfoni has been growing rapidly, especially in the spend analytics and tail spend areas in recent years. Earlier in 2022, Simfoni announced its acquisition of EC Sourcing Group, a sourcing provider with optimization support.

Project management 72

Project management Sourcing Management 72

Planergy

MARCH 2, 2023

Clients and results More Customers We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with Planergy. How to gain visibility and control of your indirect spend. How to gain visibility and control of your indirect spend.

supply chain budgeting 52

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

Spend Matters

APRIL 4, 2024

Throughout the year our analyst team provides vendor-specific profiles and tech solution analyses as part of Spend Matters Insider content. Artificial intelligence in procurement During the first quarter of 2024, the Spend Matters team followed the theme of ‘ Artificial Intelligence in Procurement.

Procurement 83

Procurement Risk management Raw materials supply chain software solutions 83

Empowering CPO

JUNE 20, 2023

In the realm of procurement, every corner of the spend landscape deserves attention, and an often overlooked area is the ‘tail spend’ A. While tail spend is often neglected, it holds a gold mine of untapped savings opportunities.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

ivalua

NOVEMBER 3, 2021

Ahlsell, a prominent international retail solutions provider, has led a complete digital transformation overhaul with a central focus on trading goods supplier management. One of the early objectives of Procurement was to optimize tail supplier management. billion in annual sales.

Procurement 130

Procurement Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain 130

Una

MARCH 14, 2023

For example, many procurement professionals hesitate to tackle the messy, massive, and often invisible challenge of tail spend – the thousands of unmanaged low-value, high-volume transactions that take place every day. Risk-taking Intrapreneurs are willing to challenge the status quo. No one has ever climbed Everest alone.

Procurement 97

Procurement Purchasing Innovation Risk 97

Spend Matters

AUGUST 9, 2022

Categories: Analytics , Procurement Strategy & Planning , Sourcing , Spend Management , Sponsored Article , Tail Spend Tags: Sponsored Article In today’s private equity (PE) environment, fund count has fallen precipitously relative to 2021, when deal flow was at a record-breaking high. million loss in Q2 2022.

Spend management 63

Spend management Management Procurement strategies Price 63

Procurement Software

OCTOBER 3, 2023

The topic of supplier consolidation is a popular one, especially across indirect procurement spend. If we take the 80/20 rule, then 80% of the supply base usually accounts for just 20% of an organisation’s total spend. First, let’s ask a simple question which is notoriously difficult for Procurement Manager to answer.

Supplier consolidation 59

Supplier consolidation Suppliers Procurement Category management 59

Procurement Software

MARCH 28, 2023

But how much of this is sourceable spend? And how much of what your organisation purchases is actually spend that’s addressable, or currently being actively managed? I’m going to explain everything and help you to get to grips with the different types of spend in your organisation. What is Addressable Spend?

Contract 52

Contract Purchasing Procurement team Purchase orders 52

Spend Matters

NOVEMBER 2, 2023

Spend Matters is delighted to announce the 2023 roster for our ‘Future 5’ list. What it does Mithra is an AI-based spend analytics solution founded in 2021 that develops fit-for-purpose data models for each of its clients and emphasizes user-friendliness. Why we chose it Mithra is a young company in the heat of development.

Contract management 96

Contract management Data Procurement team Suppliers 96

Una

MARCH 6, 2024

It doesn’t matter whether you spend millions with a nationally-recognized marketing firm or hire a cheap freelancer from Fiverr – it’s still outsourcing. By focusing specifically on these categories, they can manage more of your spending and find even greater cost savings for you. Outsourcing is a very broad term.

Procurement 52

Procurement Agile and Lean Supply Chain Purchasing Supply Chain Efficiency 52

Una

SEPTEMBER 7, 2022

Episode 79: User-Centric MRO Spend Management with Mike Franz. Simon Horton on LinkedIn Negotiation Mastery Change Their Mind on Amazon.com. Latest Episodes from The Sourcing Hero Podcast. Episode 80: What is – and is NOT – in the Inflation Reduction Act with Kris Lance. Get in Touch.

Negotiation 145

Negotiation Spend management Purchasing Sourcing 145

Procurement Software

MAY 30, 2023

In many businesses – especially manufacturing companies – the focus has historically been on direct spend. However, there has been a trend happening over the last 10 or so years to incorporate more indirect spend under the management of corporate procurement teams. What is your total vendor count ?

Procurement 52

Procurement Procurement team Purchase orders Contract 52

The Good Spending

DECEMBER 13, 2021

Tail spend - the procurement nightmare. I tell you mine - the tail spend. The rest, 80% of the supply base, generates the so-called tail spend - low-value high-quantity transactional mess. The rest, 80% of the supply base, generates the so-called tail spend - low-value high-quantity transactional mess.

Buyers 52

Buyers Quantity Procurement Contract 52

Procurement Insights

SEPTEMBER 30, 2023

(In the test case, a major public sector organization realized a 23% cost of goods savings annually over a period of several years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23. Delivery performance and product quality also improved dramatically.)

Buyers 61

Buyers Procurement team Quality Contract 61

Supply Chain Game Changer

NOVEMBER 17, 2018

In the fast-changing world of strategic Procurement, certain categories of spend get all the thunder: IT Procurement gets to help drive a company’s innovation. But there’s another sort of spend that never gets any love, a sleeping giant that’s actually costing companies millions of dollars and opening them up to risk: Tail Spend.

Procurement 62

Procurement Contract Purchasing Supply chain 62

Pipefy

JULY 31, 2023

They require a dedicated team to manage these mission-critical business processes that take place behind the scenes in most businesses, providing the front office with the support they need to continue creating new revenue streams. These types of processes are known to be structured and clearly defined and easily managed and automated.

Budget 52

Budget Management Quality Customer relations 52

The Procuretech Podcast

MAY 10, 2022

Lhotse has a tactical and tail spend solution, which they see as something complementary to a legacy suite based approach. Henning explains how these legacy systems don’t cover tactical spend well, and are often cumbersome to use from a UX standpoint. What makes Lhotse different? Cost of integration - saving time, saving money.

Procurement team 52

Procurement team Supply Chain Efficiency Purchasing Purchase orders 52

Spend Matters

MARCH 27, 2024

Spend Matters is gauging the level of interest in, and infiltration of, AI and GenAI in the practical lives of the procurement function today with some real-life use cases and opinions from senior procurement and supply chain practitioners. We spoke recently with David Schultz , VP, Chief Supply Chain Executive at Westfall Technik Inc.

Procurement 80

Procurement Negotiation Supply Chain Efficiency Supply Chain Optimization 80

Spend Matters

DECEMBER 19, 2023

With another busy year of procurement and supply chain events tidily packed away behind us, Spend Matters is pleased to provide a round-up of the main events we attended in 2023, with a short recap of each and key takeaways. million unique suppliers. We outline the planned extensions to its Community.ai Read the Coupa Inspire coverage here.

Procurement 79

Procurement Supply Agile and Lean Supply Chain Supply Chain Optimization 79

Jaggaer

FEBRUARY 18, 2020

The recent disruptions to supply chains caused by the coronavirus epidemic in China have given supply managers the world over pause for thought. Leverage your supplier management for maximum benefit with the white paper: How to Achieve Holistic Supplier Management. Strategic Supplier Management.

Suppliers 103

Suppliers Agile and Lean Supply Chain Supply Chain Efficiency Supplier relationship management 103

Empowering CPO

DECEMBER 2, 2020

It’s estimated that around 40% of company’s indirect spend is from spot buy. As a result, in most of the companies this spend is often under managed as it demands more efforts and the rewards are low. Spot Buying is for immediate, Ad-Hoc & one-off purchases.

Management 52

Management Strategic sourcing Strategic sourcing Buyers 52

Spend Matters

AUGUST 9, 2023

Spend Matters constantly updates its understanding of the state of the procurement tech market via RFIs for our SolutionMap dataset, vendor interviews, global event attendance and product demos with the aim of keeping tech-selection decision makers ahead of market trends. Near-shore suppliers to reduce risk and environmental impact.

Agile and Lean Supply Chain 82

Agile and Lean Supply Chain Procurement Suppliers Risk 82

Una

JULY 19, 2022

When category managers, for example, feel empowered to utilize the different aspects of a procurement strategy at any given time, they are better equipped to manage their spend accordingly. The tech space is filled with procurement tools that help to streamline the purchasing process, manage contracts, and increase efficiency.

Procurement strategies 98

Procurement strategies Strategy Procurement Supplier relationship management 98

Una

SEPTEMBER 6, 2022

Lean procurement teams pick their goals and targets with care when building their lean procurement strategies , focusing on achievable and high-impact activities such as tackling tail spend. . What about lean supply chain management? Jumpstart procurement on a shoestring.

Agile and Lean Supply Chain 98

Agile and Lean Supply Chain supply chain budgeting Procurement Procurement strategies 98

Supply Chain Trend

APRIL 25, 2024

It is not new in supply chain management either. As a young dairy S&OP manager about 15 years ago, I used Lee’s approach in the schematic below to explain to a supply chain executive why our one trick approach to planning & response didn’t meet our customer service targets. It is not new in strategy.

Agile and Lean Supply Chain 78

Agile and Lean Supply Chain Supply Chain Efficiency supply chain software solutions Supply chain 78