Procurement Academy

JULY 17, 2024

Struggling to anticipate customer demands? It’s impossible to know entirely how demand will pan out. However, demand forecasting is key to gaining some sense of control over your business during this turmoil. One such challenge is demand volatility.

Forecasting 52

Forecasting Supply Chain Planning Software Modeling Forecasting Software 52

Logistics Viewpoints

JUNE 29, 2023

In today’s interconnected global economy, supply chains play a vital role in the success of businesses. It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks.

Manufacturing Procurement 187

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 187

Supply Chain Shaman

APRIL 9, 2021

We stubbed our toe in supply chain management at the beginning of the decade. Facing The Issues of Supply Chain Performance. As I work through this year’s Supply Chains to Admire , I cannot help but shake my head. The black veil of the pandemic is a supply chain wake-up call to build better. The analogy fits.

Supply Chain Planning Software 362

Supply Chain Planning Software Procurement Analytics Supply Chain Performance Manufacturing Procurement 362

Supply Chain Shaman

FEBRUARY 18, 2021

The Covid-19 pandemic tested the global supply chain. Like riding a bumpy road, the supply chain leader is riding the ups and downs of changing market conditions facing greater variability day-to-day. Here, based on interviews with supply chain leaders, I share lessons learned. The Failure of Existing Demand Planning Solutions.

Supply Chain Planning Software 288

Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 288

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. By aligning supply chain and procurement, spend can be considered more holistically.

Optimal Sourcing 192

Optimal Sourcing Manufacturing Procurement Procurement Analytics Procurement Solutions 192

Logility

APRIL 21, 2020

In the world of commerce, every business ecosystem has a type of supply chain that is critical to corporate operations.These supply chains rely on a network of plants and facilities to add value to, and transform, raw materials into a final product. Better estimates of demand. The payoffs were big, but they did not come easily.

Forecasting 157

Forecasting Optimal Sourcing Forecasting Software Modeling 157

Precoro

NOVEMBER 13, 2023

However, only 30% of CPOs claim they have achieved their cost-saving targets in 2023. One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. Why Is Purchase Price Variance Important?

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Logistics Bureau

FEBRUARY 15, 2021

The best way to understand the difference between procurement and purchasing in a business is to consider the process involved in buying a car, says Logistics Bureau’s procurement specialist, Trent Morris. Procurement First, Purchasing Follows. But all of those things become purchasing as opposed to procurement.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Purchasing Skills Negotiate Pricing 98

Logility

AUGUST 31, 2023

In most cases, their legacy ERP or supply chain solutions cannot support the real-time, frequent forecasting and inventory planning needed to get ahead of margins pressures, rising costs, and shifts in consumer demand. It used to take two people anywhere from 10 to 15 days to create a 12-month forecast.

Consumer Goods 183

Consumer Goods Network Optimization Software Optimal Sourcing Inventory Reduction 183

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.

Procurement Solutions 52

Procurement Solutions Manufacturing Procurement Optimal Sourcing Procurement Analytics 52

Precoro

AUGUST 14, 2023

More and more companies are acknowledging the importance of centralizing and optimizing their procurement operations. One of the ways to accomplish this is to establish a procurement team to streamline ordering by centralizing purchases and improving supplier relations. What are the duties of a procurement manager?

Negotiating Skills 98

Negotiating Skills Purchasing Skills Buyer Training Procurement Solutions 98

Precoro

JULY 16, 2023

The purchasing department plays a critical role in the success of an organization. Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Unleashed

JULY 2, 2024

Efficient purchasing is conducive to healthy cash flow. The more effective your purchasing processes, the more profitable your business becomes. In this guide we explore the process of purchase order management, its role in a wider supply chain management strategy , and the best practices for optimised purchasing workflows.

Procurement Analytics 52

Procurement Analytics Procurement Solutions Purchasing Skills Pricing Training 52

Supply Chain Shaman

JANUARY 21, 2014

Nine out of ten supply chains are stuck. The secret to unsticking the supply chain is to redesign processes to be outside-in. The supply chain processes need to be designed from the market back. Most companies have designed supply-centric processes from the inside-out. Step Up and Learn the Language of Demand.

Supply and Demand 329

Supply and Demand Modeling Demand Planning Software Forecasting 329

OptiProERP

SEPTEMBER 21, 2023

Inventory forecasting, or demand forecasting, estimates future inventory levels needed using past data, upcoming events, and market trends. Inventory forecasting ensures manufacturers have the proper inventory to meet customers’ needs while minimizing excess inventory costs.

Forecasting 52

Forecasting Forecasting Software Inventory Reduction Supply Chain Planning Software 52

Supply Chain Shaman

JULY 30, 2022

My assigned topic was demand visibility. However, two decades later, there is still no technology solution to enable demand visibility or help companies use channel data to translate demand into an inventory, replenishment, or manufacturing strategy. Why have we not improved our use of channel data in supply chain processes?”

Supply Chain Design Software 195

Supply Chain Design Software Supply and Demand Supply Chain Planning Software Data 195

Vanguard Software

MAY 4, 2021

There is no crystal ball that can allow planners to perfectly predict product demand by giving insight on everything happening in the market. However, there are quite a few ways to improve demand forecast accuracy. Here are seven ways to improve demand forecast accuracy for increased operational efficiency and profit.

Forecasting 52

Forecasting Supply and Demand Forecasting Software Modeling 52

Logistics Viewpoints

MAY 13, 2024

This technology allows businesses to unify their procurement, expense management, invoicing, payments, sourcing, contract management, and spend analysis processes and reporting. Coupa also has a supply chain collaboration solution that runs on the platform. This solution provides for purchase order collaboration.

Procurement Solutions 219

Procurement Solutions Forecasting Software Modeling Software Procurement Analytics 219

Vanguard Software

MAY 4, 2021

There is no crystal ball that can allow planners to perfectly predict product demand by giving insight on everything happening in the market. However, there are quite a few ways to improve demand forecast accuracy. Here are seven ways to improve demand forecast accuracy for increased operational efficiency and profit.

Forecasting 52

Forecasting Forecasting Software Supply and Demand Modeling 52

Precoro

JANUARY 29, 2024

Escalating expenses associated with rising prices of raw materials, finished goods, third-party services, and labor along the entire supply chain expose businesses to a heightened threat of margin reduction. In this article, we will discuss how a robust procurement management plan can help address and mitigate the effects of inflation.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 98

Unleashed

JANUARY 8, 2024

Procurement management directly impacts your bottom line, making it a critical component of running a profitable product-based business. In this article, we look at the different stages of procurement management. We’ll also explore project procurement management and the relationship between procurement and supply chain management.

Procurement Solutions 52

Procurement Solutions Pricing Training Purchasing Skills Negotiating Skills 52

Supply Chain Shaman

SEPTEMBER 22, 2021

Recently, I hosted the Supply Chain Insights Global Summit. Allyson Hatfield, demand planner at MARS Petcare presented. Allyson Hatfield, demand planner at MARS Petcare presented. ” The answer lies in the need to redefine work to improve the demand planner’s ability to model. ” My take?

Optimal Sourcing 221

Optimal Sourcing Analytics Software Procurement Analytics Supply Chain Planning Software 221

Logistics Viewpoints

JUNE 1, 2023

One day, a product is flying off the shelves, and the next, it’s gathering dust. That’s why staying on top of the latest supply chain planning trends is so important – they can make all the difference when it comes to staying competitive, reducing costs, and meeting your customers’ needs.

Supply Chain Planning Software 194

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Software 194

SCMDOJO

SEPTEMBER 8, 2023

This blog explains The Key MRP Metrics in Supply Chain whcih every supply chain professional in Manufacturing or Distribution Businesses. Supply chain professionals will be familiar with the term Material Requirements Planning (MRP).

Procurement Analytics 84

Procurement Analytics Supply Chain Planning Software Supply Chain Design Software Metrics 84

AIMMS

OCTOBER 17, 2023

Sustainable supply chains are not just beneficial for society and the environment; they’re crucial for a business’s future prosperity. For that, long-term supply chain planning and budgeting needs data to back every decision. A green supply chain boosts brand reputation and can lead to increased sales.

Optimal Sourcing 156

Optimal Sourcing Supply Chain Planning Software Modeling Waste Reduction 156

ThroughPut

DECEMBER 4, 2022

In the past two years, there has been a shift in how supermarket & retail grocery supply chains function. A report by Acosta, a US-based sales and marketing agency, on grocery store trends for 2021 indicates that 46% of people now use online delivery more than they did before the pandemic. Importance of Demand-driven Replenishment.

Inventory Reduction 52

Inventory Reduction Resource Reduction Cost Reduction Strategies Sourcing Strategies 52

Supply Chain Shaman

JANUARY 31, 2022

Traditional risk management policy assumes a contraction in growth: the conventional focus is the shutdown and reallocation of supply. Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Focus on Cost. I have been an industry analyst for two decades.

Procurement Analytics 221

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 221

SYSPRO Smarter ERP

AUGUST 2, 2023

Food and Drug Administration (FDA) and other governmental entities necessitates continuous reporting on product traceability and adherence to exacting standards. To contend with these pressures, medical device manufacturers crave actionable, real-time, accurate, and reliable data throughout the entire supply chain.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Analytics Software Optimal Sourcing 98

Supply Chain Shaman

FEBRUARY 7, 2022

Traditional risk management policy assumes a contraction in growth: the conventional focus is the shutdown and reallocation of supply. Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Focus on Cost. Market inflation sits at 7%–the highest since June 1982.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

Negotiating Skills 87

Negotiating Skills Purchasing Skills Negotiate Pricing Procurement Analytics 87

SCMDOJO

APRIL 4, 2023

If you’re in the business world, you’re probably always looking for ways to streamline your supply chain operations. Luckily, supply chain analytics is here to help! But like any new technology, there are hurdles to overcome when implementing supply chain analytics.

Prescriptive Analytics Software 111

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Supply Chain Design Software 111

NC State SCRC

MAY 30, 2022

A new study that the SCRC published with GEP examines the increasing pressure that supply chain executives are getting when it comes to responding to supply chain disruptions. This results in significant challenges for organizations seeking to establish a cohesive strategic plan that bridges these three interrelated activities.

Supply Chain Execution 98

Supply Chain Execution Procurement Analytics Procurement Solutions Optimal Sourcing 98

ivalua

DECEMBER 14, 2020

The pandemic wreaked havoc on businesses and their supply chains, but even in these trying times, there’s a silver lining. The job of sourcing professionals is to understand the risk in the supply chain and manage it so they can react quickly when a problem occurs.” Balancing New Priorities Makes Procurement More Valuable.

Procurement Solutions 130

Procurement Solutions Optimal Sourcing Manufacturing Procurement Optimization Software 130

Precoro

MAY 19, 2023

According to McKinsey survey of global supply chain leaders , only 53% of respondents describe the quality of data in their supply chain planning systems as “sufficient” or “high.” less likely to be affected by supply chain disruptions. ” Yet leaders with high-quality master data are 1.5x

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

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?

Optimal Sourcing 97

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

ThroughPut

APRIL 30, 2024

Exploring the world of AI tools for supply chain and logistics can be quite overwhelming. That’s why we put together this guide – to help you get a glimpse of the best AI tools for supply chain and logistics, how to implement these tools, what to take care of and more. Best AI Tools for Supply Chain and Logistics 1.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Logistics Network Optimization Software 52

SCMDOJO

JUNE 6, 2023

For businesses to succeed, supply chain optimization is essential to succeed. It helps reduce costs, increases efficiency, and can enhance customer satisfaction. Supply chain optimization can achieve this with the help of data analytics. Data analytics helps businesses make data-driven decisions and initiatives.

Optimal Sourcing 72

Optimal Sourcing Modeling Supply Chain Optimization Analytics Software 72