Precoro

DECEMBER 24, 2024

Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.

Price Reduction 87

Price Reduction Sourcing Strategies Cost Reduction Strategies Expense Reduction 87

Supply Chain Shaman

JANUARY 8, 2014

Interview for Metrics That Matter. My kitchen table is piled high with interviews for the upcoming book, Metrics That Matter. He is responsible for manufacturing, procurement, supply chain planning, logistics, quality, social responsibility and final product engineering. ” Supply Chain Leader. I am behind. The heat is on.

Procurement Analytics 260

Procurement Analytics Manufacturing Procurement Metrics Procurement Solutions 260

Precoro

AUGUST 26, 2021

How do you call it when you order, say, stationery for your office? Purchasing? Or procurement? Although quite similar, procurement and purchasing are two distinctive processes , and understanding the difference between them can help facilitate your organization’s success. Purchasing and Procurement at a Glance.

Pricing Training 91

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 91

Supply Chain Shaman

NOVEMBER 11, 2020

As a result, organizations struggle with how to move forward. One of my favorite supply chain leaders has a stack of Palantir reports in black binders on his desk. His struggle is how to make data discovery, mining, and wrangling into day-to-day processes. Kinaxis Purchase of Rubikloud. Kinaxis Purchase of Rubikloud.

Supply Chain Design Software 304

Supply Chain Design Software Procurement Solutions Manufacturing Procurement Supply Chain Planning Software 304

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.

Optimal Sourcing 130

Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

Supply Chain Shaman

FEBRUARY 1, 2024

I see a preponderance of reports and white papers that have lots of pages but say little. Optimization engines to improve functional metric performance resulted in an exploding number of planners. days to receive a purchase order confirmation. The average purchased order changes 3.5 Back to John. On average, it takes 2.8

Supply Chain Planning Software 342

Supply Chain Planning Software Optimal Sourcing Manufacturing Procurement Waste Reduction 342

Logistics Bureau

OCTOBER 11, 2024

Procurement has never played such an important role in the increasingly globalised economy. Has procurement fundamentally changed itself in the past 10 years? Strategic Procurement can mean totally different things in different industries and sectors. The time when Procurement was almost a synonym to Purchasing has long gone.

Manufacturing Procurement 97

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 97

Precoro

JULY 15, 2024

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.

Negotiating Skills 90

Negotiating Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 90

Precoro

OCTOBER 24, 2022

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole.

Procurement Solutions 81

Procurement Solutions Procurement Analytics Analytics Software Sourcing Strategies 81

GlobalTranz

NOVEMBER 29, 2016

Editor's Note: Today's blog is the second part of Chuck Intrieri's series on how procurement and suppliers can avoid issues with their contracts. In part two, Chuck focuses on how to draft your terms and conditions. It Would Benefit Both Procurement and Suppliers To Write in a Clear, Friendly, and Organized Manner.

Procurement Analytics 120

Procurement Analytics Manufacturing Procurement Procurement How To 120

Supply Chain Shaman

JANUARY 31, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Focus on Cost. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. Lucas had no idea how to model the supply chain to develop a feasible plan.

Procurement Analytics 221

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 221

Eyvo

APRIL 20, 2021

How to effectively manage risk in procurement? Risk management in procurement. However, in procurement, the last thing you want is a risk. That’s why managing risk in procurement is essential. Procurement teams have been trying to outrun risks since the pandemic began. by Bhargavi Nake.

Procurement Analytics 92

Procurement Analytics Procurement Solutions Optimal Sourcing Procurement 92

ivalua

DECEMBER 14, 2020

In a recent webinar, “ How to Leverage S2P Platforms to Enable Supply Chain Resilience ,” procurement experts from Forrester, Ivalua and Procurement Leaders discussed how digital transformation and the technologies that enable it can help companies mitigate risk and be more agile and resilient.

Procurement Solutions 130

Procurement Solutions Optimal Sourcing Manufacturing Procurement Optimization Software 130

Supply Chain Shaman

OCTOBER 29, 2020

Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle. While touted as a digital procurement provider, it took the Company nine days to onboard me as a vendor, and two weeks to process a Purchase Order. We do not know how to walk the talk.

Optimal Sourcing 236

Optimal Sourcing Supply Chain Design Software Waste Reduction Inventory Reduction 236

Procurement Academy

JUNE 30, 2022

During the 1970’s oil crisis and the rampant inflation that followed, skilled procurement professionals were in demand more than ever before. While professionals have superior technology and analytics on their side, the challenges associated with procurement in a high inflation environment remain the same – and so do the solutions.

Procurement Analytics 95

Procurement Analytics Procurement Solutions Procurement Purchasing Skills 95

Supply Chain Shaman

JANUARY 21, 2014

In companies, there is no standard model for demand processes. New forms of analytics make new capabilities possible. While we need forecasting and we need to improve the processes, we also need to teach teams how to use new forms of demand data and adopt demand processes. The purchase of a product by a customer in the channel.

Supply and Demand 327

Supply and Demand Modeling Demand Planning Software Forecasting 327

ivalua

NOVEMBER 26, 2019

In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage.

Optimal Sourcing 100

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 100

Supply Chain Shaman

FEBRUARY 7, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Focus on Cost. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. Lucas had no idea how to model the supply chain to develop a feasible plan.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

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.

Procurement Solutions 91

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 91

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.

Negotiating Skills 105

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 105

Supply Chain Shaman

SEPTEMBER 13, 2023

I know that your primary focus is procurement. And how do we measure it? (Is Or planned orders to purchase orders?) In the testing, three of the four companies deployed the wrong model, which degraded the demand signal with a negative FVA. (I I encourage all to backcast to test and improve their models.

Supply and Demand 385

Supply and Demand Supply Chain Planning Software Modeling Demand Planning 385

ivalua

NOVEMBER 18, 2020

For procurement and supply chain professionals, the biggest takeaway from 2020 is that no matter how hard you try, you cannot predict the future. COVID-19 disrupted supply chains on an unprecedented scale, and businesses became much more reliant on procurement teams to help mitigate the impact. .

Optimal Sourcing 130

Optimal Sourcing Procurement Analytics How To Purchasing Skills 130

Precoro

NOVEMBER 11, 2024

For most CPOs and CFOs, deciding on the right purchasing setup — centralized or decentralized — is no small task. Each model has its perks, and choosing the best fit can feel like walking a tightrope. Keep reading to learn: What is centralized purchasing? What is centralized purchasing?

Pricing Training 90

Pricing Training Expense Reduction Price Reduction Cost Reduction Strategies 90

Jaggaer

DECEMBER 13, 2024

What is Procure to Pay (P2P)? Procure-to-Pay commonly known as P2P, encompasses the entire cycle of buying activities from identifying a need for goods or services to completing payment to a supplier. A well-managed P2P process improves operational efficiency, controls costs, and enhances compliance with procurement policies.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Purchasing Skills 52

Precoro

SEPTEMBER 2, 2022

For some businesses – usually smaller or with a single-source purchasing flow – it may be sustainable to react to the immediate needs. However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. Office supplies would be an example of indirect procurement.

Manufacturing Procurement 79

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 79

Supply Chain Shaman

MAY 21, 2013

We finished our report on the maturation of hospital supply chains , and I have put the finishing touches on the Healthcare Supply Chain Index for this Thursday’s webinar. But, the tune has changed, and they are unsure how to dance together. The focus has been on sourcing and managed costs. Please use this link: [link].

Modeling 240

Modeling Modeling Software Pharmaceutical Procurement Analytics 240

Supply Chain Shaman

NOVEMBER 21, 2022

While optimization continues to be deeper and more valuable, organizations aren’t clear on desired outcomes and how to make functional trade-offs. There is no magic ball on design: the organization’s reporting structures vary by culture and size. As shown in Figure 1, the reporting relationships vary. Next Steps?

Supply Chain Planning Software 299

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Modeling 299

SCMDOJO

JULY 18, 2023

Contract management plays a crucial role in the procurement process, as it helps ensure compliance, mitigate risks, and optimize supplier relationships. By effectively managing contracts, organizations can maximize the value of their procurement activities and minimize potential issues.

Optimal Sourcing 98

Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 98

Supply Chain Shaman

FEBRUARY 14, 2022

I wrote my first report on Sales and Operations Planning (S&OP) while sitting on the floor in the Atlanta airport in 2005 when I was an AMR Research analyst. I wrote many reports on airport floors in those days–electrical plugs were just too scarce.) Sales and Operations Maturity Model from 2005-2008. Mistake #3.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

Supply Chain Shaman

JANUARY 2, 2023

The planning team was defending the status quo without questioning current practices and how to improve them.) The question was, “How can I redefine demand planning processes to use channel data? Models Matter. In implementing planning, most of the focus in purchasing technology in the sales cycle is on optimization.

Supply and Demand 373

Supply and Demand Modeling Demand Planning Supply Chain Planning Software 373

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes. Why Is Purchase Price Variance Important?

Purchasing Skills 84

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 84

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 74

Negotiating Skills Purchasing Skills Buyer Training Procurement Solutions 74

Precoro

JANUARY 29, 2024

As the department overseeing an organization's external expenditure, procurement is responsible for softening the impact of inflation. In this article, we will discuss how a robust procurement management plan can help address and mitigate the effects of inflation. Procurement methodology. Objectives and scope.

Procurement Solutions 82

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 82

Supply Chain Shaman

APRIL 17, 2013

The market shift is towards analytics, but this new market is confusing. They are step change requiring either the redeployment of existing technologies or the purchase of new platforms. Data model structures are the difference between success and failure. Build What-if Analytics. Why is this happening? It is still early.

Supply Chain Design Software 258

Supply Chain Design Software Manufacturing Procurement Supply Chain Planning Software Supply and Demand 258

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 73

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 73

NC State SCRC

MAY 30, 2022

The report was published in the last month, and reflects some of the increasing challenges and disparities that exist between procurement and supply chain executives. In this study, we explore the primary forms of misalignment that exist between supply chain and procurement executives. (We

Supply Chain Execution 98

Supply Chain Execution Procurement Analytics Procurement Solutions Optimal Sourcing 98

Supply Chain Shaman

DECEMBER 12, 2024

Supply chain leaders were slow to adopt advances in Big Data Analytics. In parallel, PE/venture capitalists purchased/consolidated network solutions, slashing R&D and delaying investment, reducing industry capabilities. How to be a better trading partner? Procurement was operating in isolation from supply chain.

Supply Chain Design Software 195

Supply Chain Design Software Supply Chain Planning Software Manufacturing Procurement Supply Chain Design 195