Unleashed

MARCH 9, 2021

What is procurement? In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. Procurement in 2021 and beyond.

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Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

Precoro

OCTOBER 28, 2024

According to Gartner , 88% of procurement leaders have significantly increased their focus on supplier collaboration over the past 24 months. In this article, we explore what SRM software is and discuss proven strategies for efficient partnerships with suppliers. Crafting tailored strategies for different supplier segments.

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Procurement Solutions Supply Chain Planning Software Supply Chain Network Software Optimization Software 65

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

Jaggaer

NOVEMBER 14, 2024

In today’s dynamic market, procurement is far more than just a buying and purchasing center. Our latest e-book, “ Is Manufacturing Missing Out On Procurement’s Value Add? “ , explores how direct procurement can substantially enhance the manufacturing process. Here are some key insights from the e-book.

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Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 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.

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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.

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Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

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. We speak of waste reduction and sustainability through a supply centric lens. Improving the forecast reduces waste, helps growth agendas, and improves margin.

Waste Reduction 195

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

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

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. Supplier KPIs.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

Precoro

MARCH 30, 2022

Strategic Procurement Helps a Business Unleash its Potential. As The Hackett Group discovered, approaching procurement strategically with specific business goals in mind helps achieve a significantly higher ROI. Operational efficiency and cost reduction are among the top procurement priorities for CPOs, according to Deloitte.

Vendor Strategies 52

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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 84

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 84

The Logistics & Supply Chain Management Society

OCTOBER 15, 2023

The Approach to Effective Freight Procurement by LSCMS Shippers’ Council Container shipping procurement faces a multitude of challenges shaped by global events, industry shifts, environmental mandates, and technological advancements. At the heart of it all, an effective procurement strategy remains paramount.

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ShipBob

DECEMBER 28, 2022

Before you leap into the sourcing process, it’s important to have a strategy in place. Strategic sourcing is a unique purchasing method that aligns your sourcing strategy with your business goals. Going into the sourcing process with a strategy and pre-set goals in place will make it easier to find exactly what you’re looking for.

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

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

Synovos

FEBRUARY 21, 2023

Improve Operational Efficiency and Eliminate Internal Complexity Through Digital Procurement From better spend visibility to reduced order times and more, can your organization afford to miss out on the benefits of digital procurement? “Any good procurement team needs access to reliable data.”

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Procurement Analytics Cost Reduction Strategies 52

GlobalTranz

OCTOBER 16, 2015

, at Cerasis, we know a thing or two about the nuances of LTL procurement. LTL procurement is something we do very well. So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. 10 LTL Procurement Cost Cutting Tips.

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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

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 106

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 106

Supply Chain Shaman

APRIL 9, 2021

The singular focus to implement and shorten cycles for the “go-live date” reduced the focus to test and learn and build core competence. Focus on functional metrics without alignment to a balanced scorecard to drive value. Belief in efficient procurement. Over the decade, procurement became more of an island.

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

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

Logistics Bureau

AUGUST 2, 2021

On this blog and the one published by our sister company Logistics Bureau, we often receive questions relating to metrics suitable for monitoring procurement performance. To answer some of those inquiries, we decided to release the following brief overview of what we believe to be the most helpful procurement KPIs.

Procurement Analytics 98

Procurement Analytics Procurement Solutions Optimal Sourcing Procurement 98

Procurement Academy

SEPTEMBER 26, 2024

Whether it is creating tailored learning plans that tackle individual, unique skillsets or measuring ROI with a specific set of metrics, let’s deep dive into what makes a procurement training program drive team efficiency and achieve organizational objectives. Well-trained professionals will ultimately make better decisions.

Buyer Training 52

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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. What is Direct Procurement?

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Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

SCMDOJO

AUGUST 16, 2023

Introduction The global business landscape has witnessed an increasingly fierce competition, pushing companies to seek effective strategies to maintain and enhance their competitiveness. Among these strategies, the role of supply chain capability stands out as a key factor in driving success.

Inventory Reduction 98

Inventory Reduction Vendor Strategies Supply Chain Planning Software Price Reduction 98

The Logistics & Supply Chain Management Society

MARCH 14, 2023

Logistics Procurement – Performance Management by LSCMS Shippers’ Council Shortly after the outset of COVID, in early 2020, supply chains have been disrupted across the globe. Freight procurement is the mainstay of any supply chain professional but price is not the be-all and end-all.

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Procurement Academy

OCTOBER 19, 2023

A crucial part of successful procurement strategies is the art and science of negotiation. Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract.

Negotiating Skills 52

Negotiating Skills Pricing Training Negotiate Pricing Purchasing Training 52

SCMDOJO

APRIL 29, 2024

By streamlining processes, reducing costs, and improving customer satisfaction, companies can achieve higher profitability and sustainability. It encompasses activities such as procurement, supplier selection, and evaluation. Efficient transportation systems minimize delays, reduce costs, and ensure timely delivery to customers.

Supply Chain Planning Software 98

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

SCMDOJO

MARCH 19, 2024

In essence, a structured supply chain department as described in the blog can help you deliver the right supply chain strategy and goals which helps cost reduction, improve customer service, on-time delivery, and better working capital. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel!

Optimal Sourcing 98

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 98

Precoro

SEPTEMBER 2, 2022

However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. It pays off to develop a procurement strategy, hire a team of professionals, and acquire necessary technologies early on. Direct procurement is about buying anything needed to manufacture a product.

Manufacturing Procurement 79

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 79

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 83

Procurement Solutions Supply Chain Design Software Supply Chain Planning Software Inventory Management Software 83

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

Supply Chain Shaman

FEBRUARY 18, 2021

Re-implement demand planning, trade promotion management, and revenue/price management together to improve the baseline demand signal. Initially, the output was published to procurement to design strategic buying strategies. Procurement became an island–isolated from the demand signal except for MRP.

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

Supply Chain Shaman

NOVEMBER 15, 2021

Especially grievous are the gaps between finance and operations, manufacturing and procurement, and the operations and commercial teams. We Assumed that Transportation Would Always Be Available And That We Just Needed to Negotiate Price. Lane RFPs focused on cost reduction, but few asked if they had a feasible plan.

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Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 288

Supply Chain Opz

JANUARY 8, 2015

In this guest commentary, John McKeller , senior lecturer for the Wisconsin School of Business Grainger Center for Supply Chain Managemen t at the University of Wisconsin-Madison, explains four key considerations for successfully integrating a firm’s strategy with supply chain management. Communicate and deploy the strategy.

Resource Reduction 100

Resource Reduction Price Reduction Cost Reduction Strategies Inventory Reduction 100

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. However, as teams become remote manual procurement has hampered operations.

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Supply Chain Game Changer

JANUARY 5, 2021

Featuring Our 12 Best Procurement Articles! Purchase Price Variance, or PPV, is a common term in the realm of Purchasing/Procurement and Finance. For some, PPV is a mechanical metric only, measured and reported on but without any further attention paid to it. What is Purchase Price Variance (PPV)?

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QAD

FEBRUARY 7, 2023

These can be unique to your business or industry, but factors like quantity, quality, location, and price are commonly used. Create and Maintain a Strategy The person in charge of supplier relationship management must determine a strategy for each supplier so that the relationship remains efficient.

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