Precoro

DECEMBER 11, 2023

The dynamic landscape of modern business comes with increasing product variety and volatile prices, making it more important than ever to stay competitive on the market. To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing.

Negotiating Skills 83

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 83

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Essential Skills for Supply Chain Leaders in Asia during Pandemic The Asian Institute of Management conducted a study across orgainsations in Asia to identify crucial skills and competencies required by supply chain managers and leaders in Asia. The logistics industry is known for its cost sensitivity and customer-oriented approach.

Purchasing Skills 130

Purchasing Skills Buyer Training Asia Supply Chain Design Software 130

Clear Spider

OCTOBER 21, 2024

Now’s the time for businesses to look back at the strain that rising inflation put on their supply chains and inventory management. In this blog, we’ll explain the impact of rising inflation rates on inventory and supply chain management. As prices continued to rise, purchasing power plummeted.

Inventory Management Software 52

Inventory Management Software Inventory Reduction Inventory Management Purchasing Skills 52

Jaggaer

OCTOBER 24, 2024

Maximizing Cost Savings Through Strategic Supplier Collaboration With the growing emphasis on long-term value creation, Chief Procurement Officers are increasingly turning to supplier collaboration as a cornerstone of cost reduction. While this approach may result in short-term savings, it can be counterproductive in the long run.

Negotiating Skills 52

Negotiating Skills Cost Reduction Strategies Material Savings Negotiate Pricing 52

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 72

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 72

RFgen

MARCH 20, 2023

Key Takeaways: Inventory control involves the management of products and services across the supply chain, ensuring the right amount of product at the right time. Integrating purchasing and inventory control is critical for forward planning and forecasting in today’s economic climate. Essential to this process is purchasing.

Sourcing Strategies 52

Sourcing Strategies Negotiating Skills Purchasing Skills Manufacturing Procurement 52

QAD

JULY 18, 2024

Introduction The accurate analysis and calculation of total landed costs is imperative for organizations with global supply chain operations. However, many companies overlook common cost elements including duties, tariffs, taxes, harbor fees and handling fees, to name a few.

Purchasing Skills 98

Purchasing Skills Cost Reduction Strategies Expense Reduction Material Savings 98

Precoro

MAY 20, 2024

Once in a while, a company receives a customer order that’s too large to fulfill with available inventory. Replenishing inventory immediately would require a substantial cash injection, which isn’t always an option. That’s when small business owners seek assistance with purchase order financing.

Purchasing Skills 91

Purchasing Skills Procurement Solutions Manufacturing Procurement Negotiate Pricing 91

Supply Chain Game Changer

JANUARY 5, 2021

Purchase Price Variance, or PPV, is a common term in the realm of Purchasing/Procurement and Finance. In my experience proactive, attentive, and detailed Purchase Price Variance (PPV) can make an incredible contribution to the profitability of a company. What is Purchase Price Variance (PPV)?

Pricing Training 82

Pricing Training Purchasing Skills Purchasing Training Negotiating Skills 82

RFgen

APRIL 12, 2024

Managing inventory costs is a constant struggle. Between rising costs for materials and endemic labor shortfalls in the warehouse, many supply chain professionals may feel trapped in an endless cycle of shrinking profit margins. Managing inventory costs is important because high inventory costs can erode the bottom line.

Inventory Reduction 78

Inventory Reduction Cost Reduction Strategies Purchasing Skills Optimal Sourcing 78

Logistics Viewpoints

JUNE 4, 2024

However, the juice for my newfound nightly routine soon became difficult to find, perpetually out of stock each time I tried to purchase it at the grocery store. With tart cherry juice sales transitioning into a steady demand pattern, retailers must adapt their inventory strategies accordingly to meet this evolving consumer preference.

Inventory Reduction 238

Inventory Reduction Supply Chain Planning Software Waste Reduction Inventory 238

Logistics Viewpoints

JUNE 29, 2023

It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks. Direct spend can be a significant part of the Cost of Goods Sold for an organization.

Manufacturing Procurement 209

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 209

ToolsGroup

OCTOBER 10, 2023

This week we’re going to talk about how Dynamic Fulfillment achieves true fulfillment optimization through a cost-based approach that incorporates three key components for optimizing your total cost-to-serve. What Is the Cost-Based Approach? The Three Components of Successful Cost-Based Optimization Let’s drill down.

Purchasing Skills 156

Purchasing Skills Network Optimization Supply Chain Optimization Price Mitigation Strategies 156

Logistics Viewpoints

JULY 6, 2022

I did a little digging to find out the specifics about excess inventory, the stated causes, and the potential implications. Retailers’ Inventories – Just Keep your Returns? Unfortunately, I am unsure about the order of magnitude or the duration of these inventory mismatches. Here’s my take on the topic.

Inventory Reduction 288

Inventory Reduction Inventory Retail Purchasing Skills 288

OptiProERP

DECEMBER 18, 2023

Procurement and purchasing are terms interchangeably used in manufacturing but are distinct activities. In this blog, we will see how purchasing and procurement differ. In other words, procurement includes the steps required before, during, and after purchasing commodities from the vendor. Steps in the Procurement Process 1.

Manufacturing Procurement 52

Manufacturing Procurement Purchasing Skills Procurement Solutions Negotiating Skills 52

ToolsGroup

MAY 11, 2022

Supply chain delays (25%), surging inflation (24%) and escalating fulfillment costs (19%) top the list of external concerns. As supply chain challenges become more frequent and intense, company leaders are increasingly focused on implementing solutions that can help them better manage risk, bypass skills shortage and become more resilient.”.

Purchasing Skills 295

Purchasing Skills Buyer Training Supply Chain Software Supply Chain Planning Software 295

Logistics Viewpoints

OCTOBER 17, 2024

Supply Chain Knowledge and Risk Mitigation: Suppliers have a direct impact on direct spend with raw material and transportation costs as two big drivers of operating margins. An example of this is Vendor Management Inventory and Capacity Collaboration for contract manufacturing.

Manufacturing Procurement 243

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

Unleashed

FEBRUARY 12, 2024

Inventory carrying cost is an essential figure to understand. Without it, you’ll struggle to accurately measure profitability or make informed decisions around inventory management and cash flow. With a simple calculation, you can understand what it costs to store and maintain goods. What is inventory carrying cost?

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

Unleashed

JANUARY 4, 2024

Product sourcing, done the right way, can set your business up with the foundations needed for achieving maximum sales. This guide will explain how product sourcing works in modern business, best practices for finding suppliers, and list some of the most popular websites and tools for sourcing goods to sell.

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 52

Logility

MAY 25, 2023

In today’s fast-paced and unpredictable global market, the secret to maintaining a competitive edge lies in a key area—robust inventory control techniques. Inventory control is the act of managing and organizing stock to meet customer demand without surplus or deficiency. This is where inventory control techniques come in.

Inventory Reduction 130

Inventory Reduction Inventory Management Software Inventory Optimal Sourcing 130

Logistics Viewpoints

FEBRUARY 2, 2022

Inflation’s effects on inventory management policies are likely far from top of the mind of Logistics Viewpoints readers in today’s challenging times. However, today’s elevated rate of inflation warrants a closer look at optimal inventory policies. Inventory Costs and Risks. Then there are the financial costs.

Inventory Management Software 291

Inventory Management Software Inventory Management Inventory Reduction Inventory 291

SCMDOJO

MARCH 8, 2024

In the world of business, managing inventory efficiently can make all the difference between success and struggle. Whether you’re a small startup or a large enterprise, optimizing your inventory is crucial for staying competitive and profitable. Read more on Optimizing Inventory and Lead Time Management on our website SCMDOJO!

Inventory Reduction 98

Inventory Reduction Optimal Sourcing Cost Reduction Strategies Resource Reduction 98

Logistics Bureau

OCTOBER 11, 2024

The time when Procurement was almost a synonym to Purchasing has long gone. It all depends on an organisation’s maturity in skill, infrastructure and culture. What skill sets are required for the next generation of procurement leaders? Instead, it should be an information exchange virtual platform.

Manufacturing Procurement 77

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 77

Precoro

JULY 8, 2022

One should keep in mind that every transaction has an additional hidden cost in labor and overheads, such as the time spent sourcing products, tracking deliveries, matching invoices, and overseeing suppliers. In the article, we look critically at the role of the purchasing manager and discuss how to determine the value of hiring one.

Purchasing Skills 74

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 74

Logistics Bureau

SEPTEMBER 4, 2023

Have you conducted a cost-to-serve (CTS) analysis for your enterprise? And that is the sole purpose of cost-to-serve analysis. If you were going to say, “What is a cost-to-serve analysis?” When costs begin to spiral out of control, the result is usually a loss of revenue in proportion to sales.

Negotiating Skills 76

Negotiating Skills Purchasing Skills Cost Reduction Strategies Analysis 76

Unleashed

OCTOBER 6, 2021

So your company is looking to reduce costs, and you’ve been asked to contribute by reducing your inventory cost. That makes sense – inventory is one of the most capital intensive areas for any product business. Here we explain how you can do this with 16 cost reduction strategies in inventory management?that

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

Unleashed

AUGUST 7, 2024

Cost of production is the manufacturing metric that tells you exactly how much money was spent on producing a product or offering a service. If you don’t know your cost of production, there’s a serious risk of running the business at a loss. What is cost of production?

Cost Reduction Strategies 52

Cost Reduction Strategies Negotiating Skills Purchasing Skills Material Savings 52

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. What is a Total Cost of Ownership Model? But price is ALWAYS included.

Optimal Sourcing 103

Optimal Sourcing Purchasing Skills Manufacturing Procurement Negotiating Skills 103

EMERGE App

JULY 11, 2024

However, If you have already passed the stage of growth and have a certain position in the market, as long as you have a foreseen for your business and are skilled in management, the risks associated with rapid growth can be mitigated. What’s the inventory management solution for the construction business?

Inventory Management Software 98

Inventory Management Software Inventory Management Procurement Solutions Inventory Reduction 98

Unleashed

AUGUST 15, 2024

Choosing the right inventory management system is crucial for optimising business operations, improving accuracy, and increasing overall efficiency. This guide explores five of the best Zoho Inventory alternatives currently on the market.

Inventory Management Software 52

Inventory Management Software Supply Chain Planning Software Supply Chain Design Software Inventory Reduction 52

Unleashed

SEPTEMBER 2, 2024

Purchase order (PO) systems are software tools that help you manage the end-to-end purchase order process. They streamline procurement workflows by automating key tasks such as purchase order creation, approval, distribution, and tracking. What is a purchase order system? How do purchase order systems work?

Procurement Solutions 52

Procurement Solutions Inventory Management Software Procurement Analytics Supply Chain Planning Software 52

Synovos

NOVEMBER 28, 2023

The Evolution of Integrated Supply: From Piece Price to Total Cost of Ownership The phrase “integrated supply” has been in use since the early 1990s to describe management of the supply chain from a centralized perspective rather than individual departments, plants, or projects within an organization.

Purchasing Skills 52

Purchasing Skills Optimal Sourcing Price Reduction Cost Reduction Strategies 52

Unleashed

OCTOBER 12, 2022

But what does ERP cost for an SME? On average SMEs should expect the monthly, per-user cost of cloud-based ERP to be US$114. Keep reading to learn more about how the costs of ERP break down, what ERP could do for you, and whether there are more cost-effective alternatives. Inventory management. Forecasting.

Purchasing Skills 98

Purchasing Skills Negotiating Skills Inventory Management Software Pricing Training 98

Arena Solutions

OCTOBER 10, 2024

Succeeding at Strategic Sourcing With Arena and Part Analytics Learn more about the integration between Arena and Part Analytics here. Full transcript below: Heatherly Bucher Welcome to our session on Succeeding at Strategic Sourcing. Engineering and sourcing professionals build the platform for engineering and sourcing.

Analytics Software 60

Analytics Software Negotiating Skills Sourcing Strategies Purchasing Skills 60

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

ShipBob

JUNE 18, 2023

If you start out a quarter with more inventory than when you started the previous quarter, is it a good thing or a bad thing? Or, it’s an indication that you have more inventory than you can sell. If you start out with less inventory than the period prior, it could mean you sold a lot of your stock — congratulations!

Inventory 98

Inventory Purchasing Skills Manufacturing Procurement How To 98

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