Logistics Viewpoints

APRIL 6, 2023

Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services.

Optimal Sourcing 217

Optimal Sourcing Sourcing Strategies Manufacturing Procurement Material Savings 217

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

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. From natural disasters to geopolitical tensions and the ongoing COVID-19 pandemic, supply chains have been significantly impacted.

Manufacturing Procurement 208

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 208

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

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 77

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 77

SCMDOJO

SEPTEMBER 8, 2023

This blog explains The Key MRP Metrics in Supply Chain whcih every supply chain professional in Manufacturing or Distribution Businesses. The metrics that underpin MRP could be described as the balls in this juggling act. This article takes an in-depth look at the crucial metrics every supply chain professional needs to know.

Procurement Analytics 98

Procurement Analytics Supply Chain Planning Software Supply Chain Design Software Metrics 98

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. Keep reading to learn: What is supplier relationship management?

Procurement Solutions 64

Procurement Solutions Supply Chain Planning Software Supply Chain Network Software Optimization Software 64

Precoro

MAY 22, 2023

Strong companies depend on a range of hardware and software solutions to support key business processes like customer service, financial management, and supply chain operations. This article encompasses the best practices for planning and executing successful IT procurement strategies. What is IT procurement?

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Silvon Software

APRIL 19, 2022

The past few years have created a lasting impact on the way business is conducted, driving many companies to analytics to gain the visibility they need to control and optimize key processes. The Basics of Procurement KPIs. To accomplish this, our clients rely on the built-in data hub of our Stratum reporting application.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

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

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

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

Supply Chain Shaman

APRIL 9, 2021

The myopic focus on IT standardization resulted in the purchase of technology, but not value delivery. Informational Technology groups reporting to the Chief Financial Officer. Over the last decade, the CIO’s office reporting structure shifted to report to the CFO. Belief in efficient procurement. Mistake #2.

Supply Chain Planning Software 362

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

Silvon Software

APRIL 1, 2024

Business strategy solution jigsaw puzzle Today’s business applications are capturing, processing, and storing unprecedented volumes of data. Requests for custom reports or dashboards by business leaders are met with lengthy development times by IT or external analysts, resulting in single-use reports that are limited in scope.

Procurement Analytics 59

Procurement Analytics Analytics Software Predictive Analytics Analytics 59

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. Business Spend Management Solutions are Networked .

Supply Chain Network Software 249

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 249

ivalua

MAY 15, 2022

Part I: Bridging the Gap between Procurement and Finance. To achieve their long-term goals, they needed to bridge the gap between their procurement and finance teams. . Let’s start with their business model and current challenges. There are interesting challenges within the AmRest business model at the supply chain level.

Procurement Solutions 130

Procurement Solutions Procurement Analytics Procurement Modeling Software 130

ivalua

MAY 15, 2022

Part I: Bridging the Gap between Procurement and Finance. To achieve their long-term goals, they needed to bridge the gap between their procurement and finance teams. . Let’s start with their business model and current challenges. There are interesting challenges within the AmRest business model at the supply chain level.

Procurement Solutions 130

Procurement Solutions Procurement Analytics Procurement Modeling Software 130

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

Logility

MAY 18, 2020

Chances are, if you’re in marketing, sales, or one of the more technical aspects of business, you’ve used predictive analytics in some part of your job. But your company doesn’t have to be a retail giant to use predictive analytics. using predictive analytics?built Predictive Analytics in a Nutshell.

Predictive Analytics 227

Predictive Analytics Analytics Software Predictive Analytics Software Procurement Analytics 227

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

ToolsGroup

FEBRUARY 16, 2022

BOSTON, February 16, 2022 : ToolsGroup , a global leader in supply chain planning and optimization software, has partnered with Planalytics to integrate their weather-driven demand (WDD) analytics with ToolsGroup’s retail planning solutions, enabling customers to isolate, measure, and manage the influence of weather on their businesses.

ToolsGroup 177

ToolsGroup Procurement Analytics Predictive Analytics Analytics Software 177

Supply Chain Shaman

DECEMBER 15, 2022

In the supply chain team analysis, note the 21% gap between procurement and manufacturing teams, the 35% gap between sales and operations and the 21% gap between finance and operations. Layering CRM and SRM on top of ERP made sales and procurement more efficient but less effective in working with trading partners and serving the organization.

Manufacturing Procurement 394

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

Supply Chain Shaman

FEBRUARY 18, 2021

The Failure of Existing Demand Planning Solutions. During the pandemic, supply chain leaders turned off their demand planning solutions. Also, the solutions lacked flexibility. With fixed models and hard-wired data feeds, teams could not adjust the planning systems to use consumption data or market indicators. The reason?

Supply Chain Planning Software 288

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

GlobalTranz

JUNE 14, 2017

The answer lies using these omnichannel supply chain metrics to carefully track and improve operations continuously. This is a simple key performance indicator (KPI), another name for metrics, to track. If vendors fall behind on this metric, you may need to re-evaluate your partnerships or expand your list of approved vendors.

Procurement Analytics 191

Procurement Analytics Omnichannel Metrics Supply Chain Design Software 191

ThroughPut

MAY 3, 2024

77% of the world’s largest ports are still facing backlogs, and that doesn’t just affect your logistics efficiency and costs, it impacts your entire supply chain and business. That is why logistics management software (LMS) is so much more today than what it used to be. What is Logistics Management Software And How Does It Work ?

Procurement Solutions 52

Procurement Solutions Logistics Network Optimization Software Supply Chain Planning Software Prescriptive Analytics Software 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

Logistics Viewpoints

OCTOBER 14, 2024

Solvoyo has a metric they call the user acceptance rate. This metric measures the percentage of time the planners accept replenishment, transportation, or inventory plans as they are without any change in the timing of the delivery or the quantity to be delivered. You don’t act on a forecast; you act on what you purchase.

Supply Chain Planning Software 237

Supply Chain Planning Software Supply Chain Planning Procurement Analytics Scenario Planning 237

Kinaxis

DECEMBER 3, 2014

Reason #9 Relentless pursuit of one supply chain metric at the expense of other metrics. Imagine that your child brings home their report card and it’s a mix of good and fair grades. Yet, these are similar instructions as what is passed down to the supply chain from executives focused on a specific supply chain metric.

Expense Reduction 250

Expense Reduction Procurement Analytics Cost Reduction Strategies Metrics 250

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.

Manufacturing Procurement 105

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement Solutions 105

Logility

AUGUST 14, 2023

When it comes to implementing supply chain planning and operations solutions, success relies heavily upon an organization’s ability to identify and document its desired value measures and outcomes, and to align those with its solutions provider. 1 Co-develop a business case with vendors. 3 Align on goals and KPIs.

Supply Chain Planning Software 199

Supply Chain Planning Software Supply Chain Planning Supply Chain Software Procurement Solutions 199

Silvon Software

APRIL 23, 2019

Companies that focus on strategic sourcing can generate substantial economic value not just by eliminating waste, reducing costs and improving administrative efficiency, but also by building stronger supplier relationships that can make them more competitive, profitable and nimble. These metrics are noted in the following sections below.

Purchasing Skills 90

Purchasing Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 90

Supply Chain Shaman

NOVEMBER 21, 2024

Building a software company is hard work. Most of the business networks were hollowed out by venture capitalists or purchased by opportunists. ” Force the technologist to answer the question of “How does this solution improve work and drive improved outcomes?” I am speaking to many that are ill equipped.

Supply Chain Planning Software 195

Supply Chain Planning Software Modeling Software Modeling Supply Chain Network Software 195

Bristlecone

MAY 21, 2021

Did you know that advanced analytics, when used in lieu of traditional statistical models, can help procurement departments increase cost efficiency by 3-8%? [1]. The procurement department of any business generates more data than is humanly possible to compute and comprehend through traditional means. Integration.

Procurement Analytics 52

Procurement Analytics SAP Negotiate Pricing Procurement Solutions 52

Jaggaer

SEPTEMBER 12, 2024

With the acceleration of Artificial Intelligence and its role in our world and how procurement functions, it’s easy to become overwhelmed by both the possibilities and the risks. Talent retention is a growing priority in procurement and supplier relationships as market demands and technology evolve.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Optimal Sourcing Procurement 52

Resilinc

FEBRUARY 16, 2021

Predictive analytics tool leverages AI to identify how a supplier will perform by analyzing past events and on-time delivery data. We’re pleased to announce the launch of our Predictive Purchase Order (PO) On-Time Delivery solution.

Procurement Solutions 62

Procurement Solutions Procurement Analytics Predictive Analytics Software Predictive Analytics 62

QAD

JULY 1, 2021

Here’s a formula to calculate your total direct materials costs: Beginning Inventory + Added Purchases – Ending Inventory = Total Direct Materials Costs. Direct labor is simply the costs associated with paying people to create the product. Where can I improve processes or purchasing to wisely cut costs or time?

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Cost Reduction Strategies Purchasing Skills 98