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 80

Procurement Solutions Procurement Analytics Analytics Software Sourcing Strategies 80

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

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.

Negotiating Skills 83

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 83

The Logistics & Supply Chain Management Society

FEBRUARY 16, 2023

As a result, organisations have had to rely on a larger number of suppliers and third-party logistics to meet this demand. Furthermore, with the increased focus on sustainability and reducing carbon emissions, organisations have to carefully select and evaluate their suppliers to meet these goals.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Sourcing Strategies Optimal Sourcing Purchasing Skills 130

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 83

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 83

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. The following are six key challenges faced by medical device manufacturers and how ERP analytics can transform operations—from regulatory compliance to supply chain optimization.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Analytics Software Optimal Sourcing 98

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

Precoro

AUGUST 26, 2021

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. Scroll down to find: Procurement and purchasing: side-by-side comparison table ; Procurement and purchasing defined.

Pricing Training 91

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 91

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?

Procurement Solutions 82

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

crisp

OCTOBER 21, 2024

Retailers’ investments in AI to realize this value have led to two key developments: consumer technology that personalizes shopping experiences and drives purchase behavior; and new, more robust data infrastructure and reporting solutions to drive supplier success.

Procurement Analytics 40

Procurement Analytics Analytics Software Predictive Analytics Analytics 40

Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 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.

Procurement Solutions 108

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 108

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).

Manufacturing Procurement 52

Manufacturing Procurement Sourcing Strategies Purchasing Skills Optimal Sourcing 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

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.

Negotiating Skills 116

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 116

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

JANUARY 31, 2023

Ivalua’s new Environmental Impact Center empowers Procurement and Supply Chain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions. This data is accessible across Ivalua’s Source-to-Pay solution to facilitate more sustainable procurement decisions within daily operations.

Procurement Solutions 246

Procurement Solutions Supply Chain Planning Software Procurement Analytics Optimal Sourcing 246

Silvon Software

APRIL 18, 2024

Insights gleaned from robust data analytics enable core business areas to identify opportunities for risk reduction, enhance operational efficiencies, and foster strategic initiatives that drive business growth. Handling Variability : AI technologies, particularly machine learning models, can handle various data formats and structures.

Manufacturing Procurement 59

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 59

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

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 63

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 63

Supply Chain Shaman

AUGUST 12, 2024

I would like for us to move past the conventional view of sourcing strategies and globalization to drive improvements to the supply chain in a variable world. The populist narrative of sourcing globalization is only part of the story. Goodman is, “Should the item ever been sourced or scheduled for production?”

Waste Reduction 195

Waste Reduction Supply Chain Planning Software Supply Chain Design Software Sourcing Strategies 195

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

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

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

Logility

MARCH 17, 2022

Digital supply chain planning and management enables organizations to integrate disparate systems, easily manage supplier compliance and assessments, optimize production schedules, reduce all sorts of risks, and make the sourcing decisions that lead to a stronger supply chain and improved margins as well as profits. Key Takeaways.

Supply Chain Planning Software 153

Supply Chain Planning Software Optimal Sourcing Sourcing Strategies Optimization Software 153

QAD

APRIL 27, 2023

Earlier this year, QAD hosted a live webinar to explore and analyze the trends that are likely to dominate the procurement world over the coming months. It’s no secret that procurement teams have an amplified role within their businesses and that many are left with questions — our goal was to offer answers.

Manufacturing Procurement 98

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 98

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

HICX Solutions

MARCH 17, 2023

By Costas Xyloyiannis, CEO of HICX By helping procurement teams digitally transform their operations, businesses gain a single source of truth in supplier data. This transformation leads to cost-saving metrics and helps generate accurate ESG reports, writes Costas Xyloyiannis, CEO of supply chain technology firm HICX.

Procurement Analytics 52

Procurement Analytics Procurement Solutions Purchasing Skills Supply Chain Software 52

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

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

Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 68

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 68

Precoro

DECEMBER 28, 2023

Read about a venture capital studio that implemented procurement software to manage purchases for 10 portfolio companies in addition to their own. Redbud Brands went from not knowing if a purchase order was approved to making every payment in time. There was no tracking system in place on the procurement nor on the finance side.

Procurement Solutions 90

Procurement Solutions Procurement Analytics Supply Chain Planning Software Supply Chain Software 90

SYSPRO Smarter ERP

MAY 30, 2022

Disruptions like the pandemic, supply shortages, global trade barriers, high customer expectations and inflation all add tremendous pressure on the procurement process. Despite this, only 33% of businesses invested in procurement and sourcing technologies. Using ERP to improve purchasing transparency.

Manufacturing Procurement 105

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 105

crisp

APRIL 25, 2024

General Mills reported that ongoing value-seeking behaviors from consumers is influencing both the channels they shop and basket sizes, creating headwinds to the company’s margins. Kraft Heinz called out tomatoes and sugar prices as problematic but sees labor and transportation costs as the source of most of its inflationary woes.

Demand Planning Software 52

Demand Planning Software Supply Chain Planning Software Supply Chain Design Software Sourcing Strategies 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

SYSPRO Smarter ERP

MAY 30, 2022

Disruptions like the pandemic, supply shortages, global trade barriers, high customer expectations and inflation all add tremendous pressure on the procurement process. Despite this, only 33% of businesses invested in procurement and sourcing technologies. Using ERP to improve purchasing transparency.

Manufacturing Procurement 98

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 98

Precoro

FEBRUARY 4, 2022

According to a Paystream 2018 Procurement Insights report, 80% of organizations still use manual or semi-digital tools to manage their procure-to-pay cycle. Most organizations are using the procurement module integrated with their ERP or accounting software. What is Procure to Pay? Procure-to-Pay Definition.

Procurement Solutions 74

Procurement Solutions Procurement Analytics Optimal Sourcing Procurement 74