Remove Eliminating Excel in Purchasing Remove Procurement Analytics Remove Supply Chain Disruption
article thumbnail

Procurement Analysis: a Game Changer for Purchasing Strategically

Precoro

With the global market expansion and deepening supply chain complexity, the roles of procurement leaders have evolved from tactical to strategic. Nowadays, procurement departments not only focus on the day-to-day buying operations but also search for the most efficient ways to go about them. By how much?

article thumbnail

Chief Procurement Officer (CPO) — Meaning and Their Role in Procurement

Precoro

The chief procurement officer (CPO) is a senior executive responsible for developing and implementing their organization’s procurement policies, procedures, and strategies. Making sure these purchases are of high quality and compliant with relevant laws and regulations also falls under the CPO’s responsibilities.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Enhancing Procurement Excellence Through the Power of Negotiation

Procurement Academy

A crucial part of successful procurement strategies is the art and science of negotiation. Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract.

article thumbnail

Surviving the COVID-19 Pandemic and Future Supply Chain Disruptions Through Supply Chain Digital Transformation

Logility

Supply chain disruptions, like the one we are currently experiencing due to the COVID-19 Pandemic will continue to happen. Surviving major supply chain disruptions requires capabilities that are only available through advanced supply chain planning and optimization platforms.

article thumbnail

How Manufacturers Can Leverage AI & Analytics For Strategic Decision-Making

Silvon Software

Insights gleaned from robust data analytics enable core business areas to identify opportunities for risk reduction, enhance operational efficiencies, and foster strategic initiatives that drive business growth. For example, using forecasting models to predict quarterly sales and adjust marketing spend accordingly.

article thumbnail

How a Venture Capital Fund Manages Procurement for Eleven Companies with One Software

Precoro

Read about a venture capital studio that implemented procurement software to manage purchases for 10 portfolio companies in addition to their own. Redbud Brands went from not knowing if a purchase order was approved to making every payment in time. There was no tracking system in place on the procurement nor on the finance side.

article thumbnail

Critical Supply Chain Planning Capabilities Needed to Survive the COVID-19 Pandemic and Future Supply Chain Disruptions

Logility

Looking back a few months, no one could have predicted the current state of the global supply chain. Although maybe we should have been better prepared, after-all this is not the first major supply chain disruption faced by most companies. Strategy One: Get a Better Handle on Supply Chain Data.