Procurement Academy

JULY 22, 2022

Negotiation is key to business success. Successful negotiation involves good interpersonal and communication skills used together to bring a desired result. A good negotiator can ensure the right prices are secured, which makes a significant contribution to an organization’s success.

Negotiating Skills 111

Negotiating Skills Pricing Training Purchasing Training Negotiate Pricing 111

ToolsGroup

OCTOBER 14, 2024

Streamlined Lead Times: Improved procurement efficiency potentially resulting in cost savings from optimized shipping arrangements and favorable supplier terms. Strengthened Supplier Relationships: Utilization of enhanced demand forecasting to negotiate more advantageous pricing and terms with suppliers.

Inventory Reduction 156

Inventory Reduction Negotiating Skills Optimal Sourcing Cost Reduction Strategies 156

Precoro

DECEMBER 24, 2024

Procurement AI enables teams to quickly process mountains of data, uncover hidden patterns, and automate repetitive tasks like invoice processing and supplier evaluations. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact. So, what does this transformation mean for businesses?

Price Reduction 97

Price Reduction Sourcing Strategies Cost Reduction Strategies Expense Reduction 97

DELMIA Quintiq

NOVEMBER 17, 2020

Provide procurement more negotiation power with suppliers of materials and services, as well as the ability to automate purchasing and production decisions based on real-time price and market data. Gain an overall view of the supply chain and evaluate different scenarios, which leads to better long-term investment decisions.

Optimal Sourcing 296

Optimal Sourcing Manufacturing Procurement Supply Chain Optimization Supply Chain Planning Software 296

SCMDOJO

JANUARY 29, 2025

Supplier Performance Evaluating supplier performance based on key metrics such as on-time delivery, quality of goods received, adherence to agreed-upon terms, and responsiveness to inquiries. Identifying areas for cost reduction, such as improving production efficiency, minimizing waste, and negotiating better prices with suppliers.

Inventory Reduction 98

Inventory Reduction Negotiating Skills Waste Reduction Cost Reduction Strategies 98

Precoro

NOVEMBER 11, 2024

These benefits aren’t just about lower prices; they’re also about reducing transportation and inventory costs, which can really add up over time. After the approval stage, the team reaches out to trusted suppliers in their catalog who can deliver the goods. They also continuously track supplier performance.

Pricing Training 98

Pricing Training Expense Reduction Price Reduction Purchasing Training 98

My Office Apps

OCTOBER 21, 2024

Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes. Let’s explore why these features are crucial for optimizing supplier relationships and driving business growth. Why is Vendor Relationship Management Important?

Vendor Strategies 98

Vendor Strategies Procurement Solutions Supply Chain Planning Software Optimization Software 98

Jaggaer

OCTOBER 24, 2024

Building Stronger Relationship s : Effective Approaches to Multi-Tier Supplier Collaboration A chain is only as strong as its weakest link—but what if you can’t evaluate the entire chain? Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain.

Negotiate Pricing 52

Negotiate Pricing Optimal Sourcing Supply Chain Planning Software Negotiating Skills 52

Logistics Viewpoints

MARCH 3, 2021

Many shippers are tough negotiators who work diligently to drive down carrier rates. ARC’s research shows that a shipper that uses either a transportation management system (TMS) internally or works with an external managed trans supplier with robust technology, will get strong freight savings. That is strategic.

Logistics Network Optimization Software 271

Logistics Network Optimization Software Negotiating Skills Negotiate Pricing Report 271

SCMDOJO

JANUARY 9, 2025

Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. It involves a methodical approach aimed at developing long-term supplier relationships, mitigating risks, and improving overall cost efficiency. Done well, it can become a key driver of competitive advantage.

Optimal Sourcing 98

Optimal Sourcing Manufacturing Procurement Procurement Solutions Negotiating Skills 98

QAD

MAY 14, 2024

Supplier Relationship Management (SRM) is a crucial practice to ensure operational efficiency, supply chain resilience and strategic decision-making. By developing and maintaining mutually beneficial relationships with suppliers, organizations can improve pricing, reliability and innovation, gaining a competitive edge in the market.

Negotiate Pricing 96

Negotiate Pricing Negotiating Skills Optimal Sourcing Sourcing Strategies 96

SCMDOJO

FEBRUARY 15, 2025

Improve collaboration between suppliers, manufacturers, and logistics partners. Businesses need to identify vulnerabilities in their networks, from supplier dependencies to transportation delays. By establishing relationships with multiple suppliers across different regions, companies can reduce dependency on a single provider.

Supply Chain Planning Software 91

Supply Chain Planning Software Supply Chain Software Modeling Inventory Reduction 91

Jaggaer

MARCH 24, 2025

Impact on Procurement: Gen AI leverages vast datasets to generate actionable insights, helping procurement teams predict future trends, such as market shifts, supplier performance, and demand fluctuations. Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supply chain risks.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Negotiating Skills 52

SCMDOJO

JULY 28, 2022

However, when you buy something, you may not always know all the suppliers that offer a particular product. Then the Supplier registration form comes in handy. This means that every time you host a sourcing event, the same suppliers bid on the same products at the same prices. What is Supplier Registration?

Negotiate Pricing 132

Negotiate Pricing Purchasing Skills Procurement Solutions Negotiating Skills 132

Jaggaer

FEBRUARY 5, 2025

A successful approach requires careful assessment of supplier bids, followed by structured onboarding, continuous monitoring, and performance measurement. When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price.

Sourcing Strategies 52

Sourcing Strategies Negotiating Skills Optimal Sourcing Price Reduction 52

SCMDOJO

FEBRUARY 26, 2025

indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. al, negotiating better rates , or consolidating shipments. Example: A supplier was expected to deliver components worth $500,000. The CPI calculation would be: CPI =100,000/120,000 = 0.83. A CPI of 0.83

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. But there is a distinction between price and value. emergency purchases and b.)

Negotiating Skills 52

Negotiating Skills Purchasing Skills Sourcing Strategies Optimal Sourcing 52

ivalua

JUNE 29, 2021

Enabling rapid, cost-effective and transparent supplier payments anywhere in the world. Redwood City, CA, June 30, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its source-to-pay platform with a new payments solution to digitize and streamline global supplier payments.

Negotiate Pricing 130

Negotiate Pricing Optimal Sourcing Sourcing Strategies Negotiating Skills 130

ivalua

JANUARY 29, 2020

For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market. That requires extraordinary work internally and co-ordination with key suppliers. The related objective for that firm is that no less than 70% of those new products should come from supplier-generated ideas. .

Negotiating Skills 164

Negotiating Skills Negotiate Pricing Optimal Sourcing Procurement 164

Jaggaer

FEBRUARY 5, 2025

A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting.

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Purchasing Skills Optimal Sourcing 52

GlobalTranz

NOVEMBER 28, 2016

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". Naturally, a supplier relations conflict exists. Contract Negotiation Enhancing Supplier Relations.

Negotiate Pricing 120

Negotiate Pricing Manufacturing Procurement Optimal Sourcing Purchasing Skills 120

Silvon Software

APRIL 19, 2022

Supplier KPIs. Managing supplier performance can help procurement leaders focus their resources on value-added activities, instead of addressing the problems caused by supplier performance like defects, rush, excessive inventory, delayed delivery to customers, shutdowns, etc.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

QAD

JANUARY 16, 2025

This complexity is amplified for organizations like KION Group AG with a global footprint, necessitating strong relationships and clear communication with suppliers at every level to respond proactively to shifting market conditions. This approach was increasingly insufficient for a company of its scale.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Negotiating Skills 52

Supply Chain Shaman

FEBRUARY 18, 2021

Re-implement demand planning, trade promotion management, and revenue/price management together to improve the baseline demand signal. The focus of the transportation suites was on cost mitigation and price negotiation. Air expediting took on a new meaning in January, with air capacity down 18% and escalating prices.

Supply Chain Planning Software 283

Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 283

Supply Chain Shaman

NOVEMBER 15, 2021

We Assumed that Transportation Would Always Be Available And That We Just Needed to Negotiate Price. Without any penalties for failure for first-pass tender acceptance, carriers and shippers have played a shell game on price. Only 29% of companies have active supplier development groups. What Should We Do.

Supply Chain Design Software 283

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 283

Supply Chain Shaman

JUNE 29, 2022

The automotive industries–with the poorest capabilities to plan and manage suppliers–will suffer the most. The answers lie in investments in supplier development teams, the simplification of the bill of materials and product platforms, and analytics to forecast requirements based on consumption. What to do? Conclusion.

Supply Chain Design Software 259

Supply Chain Design Software Supply Chain Planning Software Supply Chain Design Pricing Training 259

Procurement Academy

FEBRUARY 11, 2025

Understanding Supply Chain Legal Issues Expanding global supply chains can become quite complex as more stakeholders become involved, leading to a wide range of legal concerns that can affect everything from suppliers right through to your end customers. Negotiation should be the first attempt at a solution when a problem does arise.

Pricing Training 52

Pricing Training Buyer Training Purchasing Training Negotiating Skills 52

Clear Spider

OCTOBER 21, 2024

Spoiler: Effective inventory management strategies are key to navigating price hikes without passing excessive costs onto consumers. As prices continued to rise, purchasing power plummeted. Higher Production Costs: Raw material prices have surged, increasing the overall cost of production. Is Your Supply Chain Inflation-Proof?

Inventory Management Software 52

Inventory Management Software Inventory Reduction Inventory Management Purchasing Skills 52

SCMDOJO

FEBRUARY 5, 2025

Comprehensive Curriculum: MCIPS covers a broad spectrum of topics, from procurement principles and strategies to contract management, negotiation, and ethical considerations. Think of it as the gold standard for procurement professionals. It provides a holistic view of the procurement landscape.

Negotiating Skills 59

Negotiating Skills Procurement Solutions Optimal Sourcing Purchasing Skills 59

Unleashed

MARCH 28, 2021

Supplier relationship management is often referred to as the B2B equivalent of customer relationship management. We’ll define this crucial management concept and explain how you can implement and improve supplier relationship management to leverage business success. What is supplier relationship management?

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Optimal Sourcing 111

GlobalTranz

AUGUST 17, 2015

While the opportunities are numerous so are the challenges; in this fiercely competitive global marketplace success requires companies to pay closer attention to supplier relations. Global leaders should retain suppliers with vested interest in the long-term success of the company.

Sourcing Strategies 120

Sourcing Strategies Price Reduction Vendor Strategies Cost Reduction Strategies 120

Kodiak Hub

NOVEMBER 25, 2021

Some buyers and suppliers have relationships where one party, or both parties, genuinely believe that the other party doesn’t care about their business relationship. ??Responding as a prospective supplier?—?during She continued by responding, “you’d be surprised how little some suppliers care to engage and respond. ”It

Negotiate Pricing 98

Negotiate Pricing Vendor Strategies Buyer Training Negotiating Skills 98

ivalua

SEPTEMBER 10, 2019

2 Supplier count – How many suppliers you have for different spend categories reflects your overall procurement health. Too many suppliers in one category may mean it’s time to simplify or negotiate better pricing with fewer vendors. On the other hand, relying on a limited number of suppliers introduces risk.

Metrics 140

Metrics Negotiate Pricing Supply Chain Software Benchmarking 140

SCMDOJO

FEBRUARY 21, 2025

Build strong supplier partnerships for long-term stability. Supplier Financial Instability: Bankruptcy or operational shutdowns of key vendors. Damaged supplier relationships and business reputation. Improved Supplier Collaboration: Stronger relationships lead to better service levels and pricing.

Optimal Sourcing 59

Optimal Sourcing Supply Chain Disruption Vendor Strategies Cost Reduction Strategies 59

Freight Plus

JANUARY 15, 2025

These price changes can ripple through supply chains, affecting freight budgets and delivery schedules. How to Tackle It Monitor Market Trends : Stay informed about industry pricing trends and adjust your logistics strategies. Negotiate Carrier Contracts : Lock in stable shipping rates with carriers to mitigate unexpected cost spikes.

Material Savings 52

Material Savings Packaging Sourcing Strategies Negotiate Pricing 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. Purchase price variance can be tracked for each separate purchase or for the total procurement spend over specific time periods – for instance, monthly, quarterly, or yearly.

Purchasing Skills 92

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 92

SCMDOJO

APRIL 3, 2022

Procurement specialists can use eAuctions to engage and negotiate with more vendors utilizing an organized approach which thus eliminates any need for cumbersome one-on-one meetings. Digital bidding, or eAuctions, are a more efficient way of negotiating with vendors in the international market.

Vendor Strategies 141

Vendor Strategies Negotiating Skills Price Reduction Purchasing Skills 141