A Vendor Management Guide for Procurement Leaders
ProcurePort
OCTOBER 25, 2023
• Vendor management is essential for cost efficiency, quality assurance, risk mitigation, and fostering innovation through collaborative relationships with suppliers.
Vendor management Related Topics 
8 Vendor Management Best Practices
ProcurePort
DECEMBER 16, 2020
What are some of today’s top vendor management best practices? What vendor management pitfalls should you be watchful of? We have scoured high and low searching for vendor management practices that will put you miles ahead of your competitors. Here are our top eight recommended vendor […].
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What is Vendor Management?
ProcurePort
AUGUST 15, 2022
• Vendor management is the sum of all activities a company undertakes to maximize the value of the relationship they have with its vendors. This includes but is not limited to listing probable vendors, comparing prices, quality checks, cost control, and risk management. The post What is Vendor Management?
Vendor Management for Dummies
ProcurePort
MAY 31, 2022
• A vendor management system provides efficiency, reduces operational costs, and extends a collaborative approach to improving products and services. Managing vendors is a central part of any procurement process. Tips to Help You Understand Vendor […]. Tips to Help You Understand Vendor […].
What is Procurement Vendor Management Process
ProcurePort
SEPTEMBER 21, 2022
• Vendor management is the process and best practices of managing suppliers or simply vendors. Vendor management is a complicated and sequential process that involves selecting vendors (based on price, quality, and delivery), negotiating contracts, onboarding vendors, evaluating performance, and controlling costs.
What is Vendor Management in Procurement?
ProcurePort
APRIL 28, 2022
• Vendor management refers to the set of activities an organization undertakes to optimize its working relationship with its suppliers. Vendor management activities involve cost management, risk management, contract negotiations, and performance evaluation. • appeared first on ProcurePort Blog.
Difference Between Procurement and Vendor Management
ProcurePort
APRIL 26, 2022
Below, we take a refined look at the difference between procurement and vendor management. […]. The post Difference Between Procurement and Vendor Management appeared first on ProcurePort Blog.
Vendor Management Best Practices — The Ultimate Guide of 2022?
Procurement Tactics
AUGUST 19, 2022
Vendor Management Best Practices — The Ultimate Guide of 2022. Vendor management best practices are utilized to boost business growth and productivity. For this article, we will discuss what the best practices in vendor management are. What is Vendor Management? Vendor sourcing .
Holistic Vendor Management – Thales – Decathlon – AXA – Accor
ivalua
JUNE 24, 2022
The post Holistic Vendor Management – Thales – Decathlon – AXA – Accor appeared first on Ivalua.
Goals and Challenges in Contract Administration and in Vendor Management
ProcurePort
MAY 19, 2022
• Effective contract administration and vendor management are not easy to achieve, especially when an organization is dealing with multiple vendors. When done well, contract administration can create win-win situations for a business and its vendors. . However, if it […].
Top Vendor Management Problems and How to Overcome Them
ProcurePort
JUNE 8, 2022
. • Yet, such systems are not sufficient in an environment where the company has tens or hundreds of vendors. The post Top Vendor Management Problems and How to Overcome Them appeared first on ProcurePort Blog. Companies can get away with this when the supply chain is […].
A Vendor Management Guide for Procurement Leaders
ProcurePort
AUGUST 17, 2020
Vendor management is an essential function of the procurement department, and is multifaceted in nature. HCM Works defines vendor management as, […]. The post A Vendor Management Guide for Procurement Leaders appeared first on ProcurePort Blog.
Vendor Management and Mitigating IT Supplier Risk
Una
OCTOBER 20, 2022
Vendor Management and Mitigating IT Supplier Risk. Vendor managers have come a long way from being a cost-savings shop. Cost savings will always be on the plate, but vendor managers are now managing risk from a governance and compliance perspective. The risks of ineffective IT vendor management.
The IT Supplier Management Process – A Look at IT Vendor Management
ProcurePort
APRIL 8, 2021
This makes IT supplier management a must. The post The IT Supplier Management Process – A Look at IT Vendor Management appeared first on ProcurePort Blog. Oftentimes, though, businesses choose to outsource IT services and bring in external teams. As such, the responsibilities revolved […].
Utilizing Spend Analysis for Vendor Management
Empowering CPO
JUNE 20, 2023
Introduction In today’s dynamic and complex business landscape, effective vendor management has become more crucial than ever. It’s no longer just about procuring goods and services at the lowest possible cost, but it also involves nurturing strategic relationships, managing risks, and ensuring performance and quality.
Guide to Vendor Management Process & Performance Monitoring
TYA Suite
DECEMBER 16, 2022
Successful companies focus a lot on their vendor management process and get benefited from it in the market and are always one step ahead of any risks they could encounter. This blog will help you understand the importance of the vendor management lifecycle including tips and tricks for effective vendor management.
Vendor Management: The Good, The Bad, and The Ugly
CPO Rising
FEBRUARY 8, 2023
Join Ardent Partners and Evisort on February 28th from 2:00 PM to 3:00 PM ET for a discussion on Vendor Management: The Good, The Bad, and The Ugly. In this age of globalization and innovation, supplier performance continues to have a more direct and immediate impact on a company’s revenues and customer satisfaction.
CPO Rising Listicle: Six Recommendations for Achieving Best-in-Class Vendor Management Performance
CPO Rising
MARCH 31, 2023
Six Recommendations for Achieving Best-in-Class Vendor Management Performance: Centralize and […] Each list will include a variety of procurement tips, trends, insights, research, lists, strategies, and/or recommendations designed to help procurement teams improve operations.
Vendor Management 101: The Basics
CPO Rising
FEBRUARY 13, 2023
With spend under management holding steady near 65% over the last few years, CPOs must now leverage […] In today’s world where globalization and innovation are critical to competitive survival, chief procurement officers rely on supplier specialization more than ever.
Why Vendor Management Matters in 2023
CPO Rising
MARCH 29, 2023
In today’s global economy, managing supplier performance has become increasingly important for companies to maintain their revenues and customer satisfaction. Supplier performance can directly impact a company’s success, making it essential to find and engage with high-value suppliers and manage their performance effectively.
The Potential and the Pitfalls of Vendor Managed Inventory (VMI)
The Network Effect
NOVEMBER 7, 2019
The post The Potential and the Pitfalls of Vendor Managed Inventory (VMI) appeared first on The Network Effect.
Solving the procurement problem: Too many tools, not enough data
Spend Matters
AUGUST 31, 2023
Procurement professionals and IT leaders tasked with managing software procurement today can often only focus on the top 20% of vendors. SaaS and vendor management has become increasingly complex Procurement and IT are being inundated with software access, vendor intake and renewal requests.
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Financial services sector talent woes continue
Procurement Heads
FEBRUARY 23, 2023
James Dobbin , Director and Head of Practice for Procurement Heads’ Financial & Professional Sector, added, “Across financial services, we’re seeing high demand for vendor management specialists, with the sector heavily regulated there’s a definite focus on operational resilience and risk.
Vendor Scorecards — Everything You Should Know
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?
How to Deal with Vendor Issues
ProcurePort
JUNE 14, 2022
• Businesses that deal with multiple vendors face a tough balancing act to optimize their procurement operations. They have to ensure that procurement costs are reasonable and that vendors meet expected quality standards. Proper vendor […]. The post How to Deal with Vendor Issues appeared first on ProcurePort Blog.
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What is Supplier Management? Why and how is it Implemented?
ProcurePort
MARCH 30, 2022
· What is supplier management process? What’s the importance of implementing good vendor management best practices? · And what are some vendor supplier relationship strategies you can adopt to streamline the supplier management process? But first, what is supplier management anyway?
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Episode 82: Winning at the Game of Risk with Rohit Hajela
Una
SEPTEMBER 14, 2022
Rohit started his career working in product development, and over time that evolved into vendor management roles in procurement. Today he continues that work and he has also co-founded a business called Vendor Management Office that helps track third party technology vendors. Highlights.
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4 Keys to Vendor Risk Management Process Workflow
ProcurePort
MARCH 29, 2022
You most likely depend on third-party vendors to efficiently run your routine operations if you own a business or an organization. Nevertheless, vendor management process workflow can present risks with serious financial, legal, and operational repercussions making vendor risk management a critical process.
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What is a Supplier Portal?
ProcurePort
JUNE 30, 2021
Is there a cost-effective way to effectively manage a supplier database? Procurement teams are always on the hunt for resources that allow them to streamline the vendor management process. This extremely useful system simplifies supplier management allowing for […].
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CPO Spotlight: Nick Priest
Procurement Heads
DECEMBER 7, 2022
We have three key areas: strategic sourcing, category management and vendor management, which is the onboarding and management of our suppliers and so on. We have 11 people in the function across strategic sourcing and vendor management, mainly based across two locations: London and Sofia in Bulgaria.
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Strategic Supplier Relationship Management
ProcurePort
MAY 5, 2021
Building an agile supplier relationship is nearly impossible without the right management strategy. Robust supplier relationship management strategies can make a big difference. Instead of continuing to rely on legacy vendor management operations, it might be time to switch to newer, strategic supplier management best practices.
What is Supply Base Management?
ProcurePort
MARCH 4, 2021
Do you sit up at night wondering what some of the best vendor management practices are and what methods you can adopt in your own campaigns that will yield favorable results? Well, supply base management may be just what you’ve […]. The post What is Supply Base Management?
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Beeline acquires Utmost: Market, Competitive and Customer Analysis and Recommendations (Part 2)
Spend Matters
NOVEMBER 3, 2022
Part 1 of our M&A coverage explored the history of the vendor management system (VMS) and where Utmost fits into the modern and increasingly HR friendly equation, alongside a more traditional contingent workforce vendor like Beeline. We also provided some comparative facts and figures on the two vendors.
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Walmart acquires omnichannel tech specialist Volt Systems
Supply Chain Dive
AUGUST 9, 2022
The deal comes with new talent and technology aimed at vendor management, seamless shopping and anticipating demand.
New Inventory Visibility and Collaboration Capabilities Enhance Ivalua’s Procure-to-Pay Solution
ivalua
JULY 12, 2021
Redwood City, CA, July 13, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its Procure-to-Pay solution with a new Inventory Collaboration capability. The ability to easily allocate stock to relevant storage locations (i.e. warehouse, plant, stockroom).
Elevating Procurement Excellence: Key Strategies to Optimize Procurement Processes
Skill Dynamics
OCTOBER 19, 2023
This is all done alongside the achievement of cost-effective procurement and robust vendor management. Vendor Management for Procurement Efficiency Vendor management is a key piece of the procurement efficiency puzzle.
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We’re BACK! 5 Reasons to attend 2022 Ivalua NOW Paris: Stronger Together
ivalua
MARCH 21, 2022
This year, we’ve invited industry thought leaders to join 5 expert panels covering data, supplier collaboration, procurement finance, and vendor management. Breakout : Holistic Vendor Management: How to effectively assess, manage and engage suppliers. Breakout Sessions. Breakout : Data-Driven Procurement.
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Three Lessons for the Food Industry in 2021
Supply Chain Brain
DECEMBER 9, 2020
COVID-19 has taught the food industry some important lessons about modernizing quality, safety and vendor management.
How procurement can solve IR35 and save millions
Procurement Leaders
AUGUST 2, 2023
There are some great new vendor management systems that will manage IR35 end-to-end compliance, and the UK’s HMRC will be announcing some radical changes to IR35 that will reduce the headaches for hiring companies. It’s surprisingly achievable in most contractor engagements, with some education and guidance.
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Beeline acquires Utmost: M&A quick take (Part 1)
Spend Matters
OCTOBER 20, 2022
Categories: Analysis , Breaking News , Industry News , M&A , Services Procurement & Contingent Labor Management , Solution Providers , SOW Tags: EU , PRO Earlier this week, Beeline, one of the two largest vendor management system (VMS) providers, announced it was acquiring Utmost, a services procurement and total talent management SaaS vendor (..)
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Procurement in a Changing World
Procurement Foundry
OCTOBER 5, 2022
This pivot includes those in charge of vendor management systems, supplier management, and more. Numerous procurement reforms, constantly changing trends, and other unforeseen circumstances in the market have spurred on this evolution.
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Musings on procurement and supplier management in the wake of SVB
Spend Matters
MARCH 17, 2023
Historically, companies that have embarked on a mission to identify and manage risk have, at best, tackled these areas independently. Read more. )
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Revolutionizing tail spend management
Spend Matters
AUGUST 10, 2023
Simfoni’s spend management platform brings immediate value for customers by combining a superior user experience with powerful AI-enabled spend analytics, sourcing, optimization, spend automation, vendor management and payment consolidation to help clients identify savings and optimize complex procurement processes.
Instant Analysis: Beelines Receives Major Investment From Stone Point Capital
CPO Rising
MAY 4, 2022
Earlier this morning, global Vendor Management System (VMS) and Extended Workforce Management Platform Beeline announced that the company received a majority investment from funds managed by Stone Point Capital, a leading private equity firm based in Greenwich, CT.
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