EC Sourcing Group

SEPTEMBER 20, 2022

Ethics in Sourcing and Procurement Management. When considering ethics in procurement management, stakeholders must act with impartiality and be transparent in all business dealings. Principles of Ethics in Procurement Management. So, what exactly are ethics in procurement management? They are: Compliance.

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Optimal Sourcing Procurement Solutions Purchasing Skills Sourcing Strategies 52

Logistics Viewpoints

NOVEMBER 8, 2022

The key to this lies with sourcing. Before diving further, let us define what sourcing is. Sourcing is the practice of finding and selecting suppliers for a range of services (e.g., Traditional sourcing practices tend to be highly manual and are fraught with latencies and inefficiencies. Digitalizing sourcing (i.e.,

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Optimal Sourcing Material Savings Sourcing Strategies Sourcing 233

Logistics Viewpoints

APRIL 1, 2021

In a previous post , I made a case for how the Chief Supply Chain Officer (CSCO) and Chief Procurement Officer (CPO) are smarter together. Accordingly Supply Chain and Procurement will need continuous collaboration. Here are some examples of such use cases.

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Optimal Sourcing Manufacturing Procurement Procurement Analytics Procurement Solutions 215

Resilinc

APRIL 17, 2024

Avoid the pitfalls of single sourcing and learn strategies to build a more resilient supply chain. Yet, within the pursuit of efficiency lies a lurking peril: single sourcing. The pandemic was a wake-up call to the dangers of single sourcing. What is single sourcing and sole sourcing?

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Sourcing Strategies Optimal Sourcing Manufacturing Procurement Negotiate Pricing 96

SCMDOJO

OCTOBER 28, 2024

Procurement People should learn the Sales & Operations Planning (S&OP) Process. Procurement professionals can contribute significantly to the S&OP process by providing valuable insights into supply chain dynamics, identifying potential risks, and optimizing sourcing strategies.

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ShipBob

DECEMBER 28, 2022

Where you get these from, or how you source them, can be a huge decision. Sourcing can seem overwhelming if you’re a brand or retail buyer not entirely sure what you’re doing, but it can significantly impact the quality, cost, and availability of your products. What is strategic sourcing? What is procurement?

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Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

ivalua

AUGUST 17, 2021

What does Procurement mean? An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis. What is Direct Procurement?

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Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

ivalua

MAY 6, 2021

The past few years have been a boon for procurement, which has become increasingly strategic and critical to business. The pandemic has accelerated this trend, with the Procurement function front and center in the fight to ensure supply chain resilience and continuity, reduce costs and protect the bottom line.

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Optimal Sourcing Supply Chain Software Negotiating Skills Predictive Analytics Software 130

Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

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Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 63

ivalua

DECEMBER 8, 2020

Procurement’s stature has grown during the COVID-19 crisis as costs, cash flow and supply continuity quickly became top boardroom priorities and homepage news. Across the world, procurement leaders have risen to the challenge. Examples abound. People should be thankful, and procurement practitioners proud.

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Optimal Sourcing Procurement Solutions Negotiating Skills Purchasing Skills 130

Jaggaer

JULY 10, 2024

Proven Techniques from Source to Contract By Georg Roesch, VP Direct Procurement In our recent guest article, Prof. In this follow-up article, let’s discuss some practical ways companies can integrate measures within their source-to-contract processes to reduce your Scope 3 emissions. from source to contract).

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Jaggaer

JULY 4, 2024

Christian Heinrich, Co-Founder and Managing Director, c arbmee The 80% Challenge I was recently delighted to participate in a JAGGAER live webinar focused on the introduction, in recent years, of carbon emissions measurement as a factor in strategic sourcing. The objective of net zero carbon footprint is now familiar.

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Manufacturing Procurement Sourcing Strategies Purchasing Skills Cost Reduction Strategies 59

Procurement Academy

OCTOBER 19, 2023

Nonetheless, there is a whole lot more to opimizing procurement processes than just cutting costs and then increasing efficiencies. Your business needs a broader vision to address sustainability, deliver on risk management and resilience challenges, nurture buyer and supplier relationships, as well as meet procurement excellence.

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Optimal Sourcing Vendor Strategies Price Reduction Resource Reduction 52

QAD

APRIL 22, 2021

This is certainly true in the area of strategic sourcing where procurement teams rely heavily on manually intensive efforts to identify and select suppliers. Manufacturers face ongoing challenges in selecting the optimal source of supply for the many materials, products and services they procure.

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Manufacturing Procurement Optimal Sourcing Negotiating Skills Purchasing Skills 97

Precoro

DECEMBER 11, 2023

To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing. Strategic sourcing is a holistic approach to supply chain management that includes tactics for optimizing the total cost of ownership, improving supplier relationships, and ensuring long-term value creation.

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Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 83

ivalua

MAY 9, 2023

Ivalua Spend Management Insights [ivory-search] Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study May 9, 2023 | | Innovation by Alex Saric In today’s age of uncertainty, procurement departments are under tremendous pressure. Fortunately, the report shows that procurement is putting actions behind words.

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Optimal Sourcing Study Procurement Supply Chain Planning Software 130

ivalua

OCTOBER 8, 2021

During the pandemic, Procurement flexed its muscle, helping to mitigate supply chain disruptions and enable new channels for engaging with customers and fulfilling orders. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1. Decentralize Procurement. Rethink What’s Normal.

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Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

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. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

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Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 105

Precoro

JULY 29, 2024

Procurement operations are no exception. In fact, 43% of GPOs that took part in the 2023 Global Chief Procurement Officer Survey cited overall procurement risk had increased significantly as compared to 20% in the 2021 study. Keep reading to learn: What is an online procurement system?

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Procurement Solutions Supply Chain Design Software Supply Chain Planning Software Inventory Management Software 82

ivalua

OCTOBER 22, 2020

This month Gartner published its eagerly awaited Magic Quadrant for Procure-to-Pay (P2P) Suites , ranking the top 14 vendors based on ability to execute and completeness of vision. This year’s edition comes at an interesting time, with the Covid-19 pandemic having shifted Procurement priorities and employee working practices.

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Procurement Solutions Supply Chain Planning Software Supply Chain Software Forecasting Software 147

The Logistics & Supply Chain Management Society

MARCH 14, 2023

Logistics Procurement – Performance Management by LSCMS Shippers’ Council Shortly after the outset of COVID, in early 2020, supply chains have been disrupted across the globe. Freight procurement is the mainstay of any supply chain professional but price is not the be-all and end-all.

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Unleashed

JUNE 4, 2024

The procurement processes you implement directly impact how efficiently the business operates. Conversely, the consequences can be disastrous if procurement lacks the right structure or planning. What is a procurement process? Strategy is extremely important in the procurement process. Let’s dive right in.

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Logistics Viewpoints

OCTOBER 17, 2024

Access to Unique Process and Asset Capabilities: Some suppliers offer unique skills, technologies, or processes that are not available in-house or through other sources. An example of this is Vendor Management Inventory and Capacity Collaboration for contract manufacturing.

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Manufacturing Procurement Supply Chain Planning Software Material Savings Supply Chain Design Software 243

Procurement Academy

OCTOBER 19, 2023

A generic approach to training is not the solution to the increasing range of challenges facing procurement teams. This means that skills enhancement across wider roles is required for procurement professionals, with a focus on role-specific learning.

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Supply Chain Game Changer

AUGUST 30, 2022

Many businesses use some form of Total Cost of Ownership model to support their Procurement and sourcing decisions. In fact these models are not just used casually, but they often are designed to inform and make optimal sourcing choices. Typically and historically sourcing decisions were predominantly based on unit price.

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EC Sourcing Group

AUGUST 16, 2022

Unethical Sourcing Practices in Procurement and How to Avoid Them. In procurement, unethical practices can be hard to spot. It’s critical to understand what makes up ethical vs. unethical practices within your procurement function. Unethical Procurement Practices : Examples of Unethical Behavior.

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EC Sourcing Group

AUGUST 9, 2022

Sourcing is an integral part of procurement management and an upstream part of the supply chain, affecting its overall success. Sourcing is the acquiring of goods and services needed to run a business or make a product. . But, what makes the best sourcing software for your strategic sourcing solutions ? .

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Exiger Perspectives

OCTOBER 11, 2024

Table of Contents The power of AI to change procurement for the better and deliver major impact was a major theme at this year’s DPW Amsterdam , one of the leading tech events for procurement and supply chain professionals. This can mean, for example, saving 10% on materials, and reinvesting 2% on a more sustainable supply chain.

Negotiating Skills 52

Negotiating Skills Procurement Buyer Training Supply Chain Software 52

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.

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Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 108

ivalua

MARCH 11, 2020

For Procurement leaders, that typically translates into saving a few percent here. For Procurement leaders today, those missed opportunities can be great. But for the most part, Procurement objectives remain too incremental rather than transformative. . So how can Procurement leaders drive such change? Lose a few pounds.

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Logistics Viewpoints

AUGUST 15, 2022

GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. For example, are you still a minority owned company?

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Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 250

ivalua

NOVEMBER 25, 2020

In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. Procurement Teams Step-up. A Blueprint for Demonstrating the value of Strategic Procurement.

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Synovos

APRIL 2, 2024

What is MRO procurement? Understand MRO procurement and your bottom line will benefit. The hidden cost of MRO procurement The adage time is money captures why MRO can be costly and why that cost is not always obvious. Why is handling MRO procurement so costly? MRO stands for maintenance, repair, and operations.

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Manufacturing Procurement Procurement Analytics 52

ivalua

APRIL 13, 2021

In part 1 of this blog I looked at how procurement can actually create new revenue opportunities. Here I’ll take a look at two other ways that procurement can help support growth. Incentivize procurement w/performance goals & KPIs that encourage supplier collaboration to drive meaningful changes in behavior.

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Logistics Viewpoints

DECEMBER 14, 2023

And even before they begin, they must realize these problems are too big for any single team—supply chain must connect with finance and procurement to treat the n-tier suppliers as an extended part of their network and become their preferred customer. By identifying these gaps, you can create sourcing events to close them.

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Supply Chain Game Changer

APRIL 28, 2020

In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. What is Single Sourcing or Sole Sourcing?

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Procurement Academy

JUNE 7, 2022

In the 1970s and 80s, savvy organizations began to realize that they could make significant savings by sourcing raw materials and parts from markets such as Taiwan, Singapore, and China. However, cost and competition still need to be at the forefront of supply chain and procurement decision-making, or the business will suffer.

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