SYSPRO Smarter ERP

JULY 12, 2022

As supply chain disruptions continue the procurement function should adapt to improve transparency, build collaborative relationships, and ensure sustainable sourcing practices, resulting in a stronger, more resilient supply chain with Cloud ERP for manufacturing. Strategic sourcing with Cloud ERP.

Manufacturing Procurement 105

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement Solutions 105

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 83

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 83

Unleashed

OCTOBER 6, 2021

So your company is looking to reduce costs, and you’ve been asked to contribute by reducing your inventory cost. Here we explain how you can do this with 16 cost reduction strategies in inventory management?that that are each proven to reduce a company’s costs.? It also avoids the need to dip into safety stock.

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

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?

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

ivalua

NOVEMBER 29, 2022

In recent years, the overall state of Procurement has been bolstered by increased proficiency, expanding engagement, and a growing direct impact on operations. And they’re not the only ones—other department heads are also increasingly budget-conscious, creating a new opportunity to partner with procurement for better budget management.

Procurement Analytics 130

Procurement Analytics Metrics Manufacturing Procurement Optimal Sourcing 130

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

ToolsGroup

SEPTEMBER 20, 2022

Automation is at the center of modern manufacturing businesses, with companies exploring the possibilities of artificial intelligence in improving workflows and profitability. Industrial engineers incorporate these technologies in designing and fabricating advanced manufacturing systems. How AI Is Changing the Manufacturing Industry.

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

Silvon Software

APRIL 19, 2022

Procurement is one core process area being focused to better manage today’s fluctuating change, with key performance metrics leading the way to assessing and managing procurement performance. The Basics of Procurement KPIs. Every KPI needs a clearly defined goal.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

QAD

JULY 1, 2021

What are Total Manufacturing Costs? Your total manufacturing costs are essentially an expense analysis that calculates how each of your company’s departments contributed to producing a finalized product. This looks at all stages of the manufacturing process from raw materials to work-in-progress to final result.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 98

Supply Chain Shaman

APRIL 18, 2023

The global supply chain is built on three assumptions: rational government policy, availability of reasonably priced logistics, and low variability. For organizations layered in functional metrics and driving a cost agenda, this is a tough nut to crack. The traditional leader values cost reduction but is blind on how to value time.

Supply Chain Planning Software 390

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 390

Unleashed

MAY 9, 2024

Measuring and improving manufacturing efficiency is a great way to trim down production costs. Put simply: the more efficiently you manufacture goods, the more profitable your business becomes. With the right systems in place – and continuous monitoring – you can improve manufacturing efficiency across all your key workflows.

Manufacturing Procurement 52

Manufacturing Procurement Waste Reduction Resource Reduction Inventory Reduction 52

Supply Chain Shaman

APRIL 9, 2021

of revenue on information technology (IT), only six percent of manufacturers drove performance at the intersection of growth and margin. Average performance in 2016-2019 across twenty-seven manufacturing sectors on inventory turns, Return on Invested Capital and operating margin was worse than in 2012-2015. Despite spending 1.1%

Supply Chain Planning Software 362

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

Supply Chain Game Changer

AUGUST 21, 2022

A solid supply chain and logistics strategy is essential for large companies. A global chemical manufacturer recently had to replace ships that transported bulk materials to ports. This chemical manufacturer is converting its entire distribution system to containers. Email Address. Subscribe to Supply Chain Game Changer.

Inventory Reduction 104

Inventory Reduction Price Reduction Cost Reduction Strategies Material Savings 104

Supply Chain Shaman

DECEMBER 15, 2022

When reviewing strategy decks for supply chain teams, I often see statements like “move from a functional-silo’d focus to a drive a more holistic response.” In my research, I find that the lack of alignment has a direct impact to value (operating margin and market price to book value). Functional Metrics.

Manufacturing Procurement 394

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Procurement Analytics 394

Resilinc

NOVEMBER 29, 2022

Resilinc CEO Bindiya Vakil recently contributed a WEF Agenda article in which she urges procurement and supply chain managers to adopt a new mindset as they seek to build more resilient supply chains in the aftermath of the pandemic. The post Resilient supply chains require a shift in procurement strategy appeared first on Resilinc.

Price Reduction 62

Price Reduction Cost Reduction Strategies Supply Chain Strategy Manufacturing Procurement 62

Unleashed

JANUARY 14, 2024

Manufacturing inventory management is crucial to the success and profitability of your manufacturing operations. It refers to the process of purchasing, storing, and tracking the various goods required to build a product. In this manufacturing inventory management guide What is manufacturing inventory management?

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

EazyStock

MARCH 14, 2023

The right purchasing and logistics strategies give companies an edge during these unique, uncertain times and, during the return “to normal,” a greater competitive advantage and continued growth. First, it reduces direct costs such as storage, management, insurance and inventory maintenance.

Inventory Reduction 52

Inventory Reduction Price Reduction Cost Reduction Strategies Waste Reduction 52

Precoro

OCTOBER 10, 2022

In today's competitive market, where it's not all about cost savings, tracking procurement performance and aligning it with business goals and objectives is a must-have. So how do you measure the effectiveness of procurement operations within your organization? What Are Procurement KPIs, and Why Use Them?

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Manufacturing Procurement Procurement Solutions 52

Jaggaer

JULY 10, 2024

Proven Techniques from Source to Contract By Georg Roesch, VP Direct Procurement In our recent guest article, Prof. Christian Heinrich, Co-Founder and Managing Director, carbmee, described “the 80% challenge” faced by manufacturing companies. from source to contract).

Manufacturing Procurement 52

Manufacturing Procurement Sourcing Strategies Purchasing Skills Optimal Sourcing 52

Unleashed

JANUARY 3, 2023

As a manufacturer, a lot of businesses and customers rely on you to get things done on time. So, let’s break down how to improve cash flow in a manufacturing business and look at the various cash flow challenges faced by manufacturers around the world. In other words, it leaves you with no cash to spend until they pay.

Manufacturing Procurement 96

Manufacturing Procurement Material Savings Expense Reduction Inventory Reduction 96

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

Silvon Software

JULY 22, 2022

For one thing, today’s operational processes have become more complicated due to the ever-growing number of sources, platforms and touchpoints that must now be analyzed in order to drive actionable insights from them. Supply chain metrics provide the intelligence needed to make better projections and more informed choices in such a market.

Metrics 81

Metrics Manufacturing Procurement Supply Chain Planning Software Supply Chain Strategy 81

Synovos

OCTOBER 30, 2023

In one case, a long-time packaging manufacturer changed its reporting structure, putting in place a new manager responsible for the MRO supply chain. It means, for example, that the initial focus on piece-price savings changes as the price ceiling is gradually lowered. There are 14 other sites that receive procurement support.

Material Savings 105

Material Savings Manufacturing Procurement Packaging Vendor Strategies 105

Unleashed

DECEMBER 28, 2021

In these fast-moving days of technological advancement and economic change, a lot of manufacturers are talking about going ‘lean’. One major aspect of running a lean business is reducing inventory – that is, a reduction in the amount of inventory your organisation keeps on hand at a given time. Techniques for 2022.

Inventory Reduction 86

Inventory Reduction Cost Reduction Strategies Waste Reduction Expense Reduction 86

SYSPRO Smarter ERP

MARCH 14, 2022

Food and beverage manufacturing and distribution companies usually operate on smaller margins than most organizations in other industries. It’s therefore important for these companies to understand all the costs associated with developing, producing, marketing, selling, and delivering products so they can be priced appropriately.?

Manufacturing Procurement 105

Manufacturing Procurement Cost Reduction Strategies Beverage Material Savings 105

Unleashed

JANUARY 25, 2023

In these tricky times, smart cash flow management strategies are essential to bring down costs (or push profits) in controllable areas, offsetting international instability. This is achieved through the implementation and continued improvement of cash flow management strategies. To improve cash flow, process optimisation is necessary.

Material Savings 98

Material Savings Inventory Reduction Price Reduction Cost Reduction Strategies 98

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 108

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 108

Silvon Software

NOVEMBER 14, 2024

For Greater Product Performance Visibility and Improved Sales & Demand Planning Consumer Packaged Goods (CPG) manufacturers operate in an increasingly competitive environment, where the ability to access and analyze timely, accurate data can make or break a company’s success. This process is known as data normalization and harmonization.

Inventory Reduction 52

Inventory Reduction Price Reduction Resource Reduction Optimal Sourcing 52

SYSPRO Smarter ERP

MARCH 27, 2023

Instead of the old vertically integrated business models (where one manufacturer performed most activities), international supply chains using specialized suppliers led to lower costs of production and services, improved quality, and better pricing. It also coincided with the growth of the Internet and telecommunications technology.

Manufacturing Procurement 104

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Modeling 104

ThroughPut

JUNE 5, 2024

Now, imagine if Sara’s applied the same supply chain strategy to both of these types of customers and channels. Improved accuracy in stock levels reduces costs associated with overstocking or understocking and enhances customer satisfaction by consistently meeting demand. What Are the Benefits of Customer Segmentation in Supply Chain?

Inventory Reduction 52

Inventory Reduction Material Savings Resource Reduction Sourcing Strategies 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.

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

ThroughPut

JUNE 5, 2024

Now, imagine if Sara’s applied the same supply chain strategy to both of these types of customers and channels. This strategy involves dividing your network into segments where demands and supply responses are harmonized to achieve the greatest net profitability. If your answer to one or both of the above is a no, this blog is for you.

Inventory Reduction 52

Inventory Reduction Material Savings Sourcing Strategies Resource Reduction 52

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. Alex Zhong, Director Product Marketing at GEP.

Supply Chain Network Software 250

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 250

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 78

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 78

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

OptiProERP

MARCH 15, 2022

Before getting into production scheduling and how it helps manufacturers, let’s have a quick look at the functions of the production department in a manufacturing organization. This process includes developing strategies for the allocation of machinery, human resources, and production material. What is a Production Schedule?

Manufacturing Procurement 78

Manufacturing Procurement Optimal Sourcing Material Savings Resource Reduction 78

SCMDOJO

APRIL 29, 2024

From sourcing raw materials, manufacturing, and storage, to transportation and distribution, SCM ensures efficiency and cost-effectiveness throughout the entire journey. By streamlining processes, reducing costs, and improving customer satisfaction, companies can achieve higher profitability and sustainability.

Supply Chain Planning Software 98

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 98