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.

Procurement Solutions 64

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

ThroughPut

JUNE 13, 2024

Here’s the thing about the Food & Beverages (F&B) industry: Pricing your products isn’t just about covering costs and achieving target profits. In such a dynamic environment, a fixed pricing strategy simply won’t suffice. This is where dynamic pricing and promotion come into play.

Price Reduction 52

Price Reduction Inventory Reduction Cost Reduction Strategies Material Savings 52

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.?

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

Unleashed

AUGUST 6, 2023

Competitive pricing enables businesses to take advantage of their market by basing product prices on the competition instead of the cost to produce finished goods. It’s a handy sales strategy to keep in your business toolbox – and can be essential to success in highly competitive markets. Ride-sharing services.

Price Reduction 52

Price Reduction Cost Reduction Strategies Expense Reduction Inventory Reduction 52

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.

Manufacturing Procurement 52

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 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

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

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.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

BlueYonder

AUGUST 20, 2024

Unfortunately, the pressure to meet demand often leads to reactive strategies that can damage brand reputation and bottom line. Or the inverse, where customers can discover a product in-store and complete the purchase online or through a mobile app.

Sourcing Strategies 93

Sourcing Strategies Inventory Reduction Price Reduction Cost Reduction Strategies 93

Precoro

JULY 1, 2024

Small companies may also lack the resources to create a dedicated procurement team for proper sourcing and supplier vetting. Group purchasing organizations can be the perfect way for these companies to increase cost savings. Learn how they work, their benefits and limitations, and how they fit in with procurement software.

Purchasing Skills 84

Purchasing Skills Procurement Solutions Procurement Analytics Negotiate Pricing 84

Supply Chain Shaman

APRIL 9, 2021

The myopic focus on IT standardization resulted in the purchase of technology, but not value delivery. The singular focus to implement and shorten cycles for the “go-live date” reduced the focus to test and learn and build core competence. Informational Technology groups reporting to the Chief Financial Officer.

Supply Chain Planning Software 362

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

Precoro

OCTOBER 6, 2022

With the global market expansion and deepening supply chain complexity, the roles of procurement leaders have evolved from tactical to strategic. Nowadays, procurement departments not only focus on the day-to-day buying operations but also search for the most efficient ways to go about them. How often do purchases happen?

Manufacturing Procurement 79

Manufacturing Procurement Procurement Solutions Procurement Analytics Pricing Training 79

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

NOVEMBER 19, 2024

Given the many aspects of retail operations outside a business’ control—from supply chain disruptions and labor shortages to inflation and interest rates impacting both operational costs and customer behavior—the fulfillment challenge this peak holiday season is acute.

Resource Reduction 191

Resource Reduction Price Reduction Cost Reduction Strategies Vendor Strategies 191

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

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

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

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

ToolsGroup

MAY 23, 2024

The second blog examined how misaligned pricing and discounting strategies can lead to promotional failures. In this post, we will explore how retailers often struggle to differentiate between markdown problems and promo problems, leading to suboptimal strategies and margin erosion.

Price Reduction 156

Price Reduction Inventory Reduction Cost Reduction Strategies Retail 156

Supply Chain Matters

JUNE 2, 2023

In this special edition of Supply Chain Matters This Week in Supply Chain Tech , we highlight for readers a workforce reduction underway at procurement technology provider Coupa Software. Business procurement spend management support technology software provider Coupa Software initiated this week a corporate wide headcount reduction.

Price Reduction 52

Price Reduction Cost Reduction Strategies Supply Chain Design Software Network Design Software 52

Supply Chain Game Changer

AUGUST 21, 2022

A solid supply chain and logistics strategy is essential for large companies. Using a logistics-oriented strategy helps companies better understand their suppliers, improve customer service, and optimize shipping. Smart logistics strategies can reduce wastage and improve operational costs. Subscribe Here!

Inventory Reduction 104

Inventory Reduction Price Reduction Cost Reduction Strategies Material Savings 104

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

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

Unleashed

JULY 2, 2024

Efficient purchasing is conducive to healthy cash flow. The more effective your purchasing processes, the more profitable your business becomes. In this guide we explore the process of purchase order management, its role in a wider supply chain management strategy , and the best practices for optimised purchasing workflows.

Procurement Analytics 52

Procurement Analytics Procurement Solutions Purchasing Skills Pricing Training 52

ivalua

OCTOBER 8, 2021

During the pandemic, Procurement flexed its muscle, helping to mitigate supply chain disruptions and enable new channels for engaging with customers and fulfilling orders. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1. Decentralize Procurement. Rethink What’s Normal.

Optimal Sourcing 130

Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

Precoro

JULY 15, 2024

The chief procurement officer (CPO) is a senior executive responsible for developing and implementing their organization’s procurement policies, procedures, and strategies. Making sure these purchases are of high quality and compliant with relevant laws and regulations also falls under the CPO’s responsibilities.

Negotiating Skills 89

Negotiating Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 89

Precoro

JANUARY 29, 2024

Escalating expenses associated with rising prices of raw materials, finished goods, third-party services, and labor along the entire supply chain expose businesses to a heightened threat of margin reduction. In this article, we will discuss how a robust procurement management plan can help address and mitigate the effects of inflation.

Procurement Solutions 81

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 81

Supply Chain Matters

APRIL 30, 2024

Supply Chain Matters draws reader attention to a published report that depicts how branded company Nike made strategic mistakes in its online distribution strategy during the time of Covid , and how the shoe and athletic goods retailer is still recovering. They smack of Nike’s iconic branding message: Just Do it !

Inventory Reduction 52

Inventory Reduction Price Reduction Vendor Strategies Cost Reduction Strategies 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

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

Vendor Strategies Sourcing Strategies Cost Reduction Strategies Price Reduction 52

ShipBob

JANUARY 15, 2024

Financially, it can lead to significant losses as businesses are forced to sell stock at discounted prices, or worse, write off unsold inventory as a loss. In this guide, we’ll explore the main causes of inventory glut, innovative strategies to tackle it, and how working with a 3PL can help reduce inventory risk. The result?

Inventory Reduction 52

Inventory Reduction Price Reduction Cost Reduction Strategies Waste Reduction 52

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)?

Pricing Training 82

Pricing Training Purchasing Skills Purchasing Training Negotiating Skills 82

GlobalTranz

SEPTEMBER 13, 2018

The path to perfect implementation of a new e-commerce shipping strategy is not always clear, and it comes with several challenges that can undermine the efficacy and cost-effectiveness of e-commerce. International trade and customs issues reports Toby Gooley of DC Velocity. Minimize product packaging costs and add-ons.

Price Reduction 181

Price Reduction Cost Reduction Strategies Resource Reduction Inventory Reduction 181

Enterra Insights

MARCH 28, 2022

The past couple of years has been a remarkable time for e-commerce as more and more consumers have discovered the digital path to purchase. Across industries and regions, people prioritized essentials and reduced impulse purchases. ” Paving the digital path to purchase (i.e., They are: 1. were deemed fraudulent.”[3]

Procurement Analytics 246

Procurement Analytics Procurement Solutions Purchasing Skills Price Reduction 246

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

SCMDOJO

SEPTEMBER 19, 2024

As a procurement officer, you’ve possibly been in the crosshairs of debate between sourcing locally and regionally versus from low-cost countries endorsed by many executive staff and boards of directors. Every time I was requested to have a target percentage of our purchases from low-cost countries I felt a pit in my stomach.

Purchasing Skills 98

Purchasing Skills Price Reduction Modeling Manufacturing Procurement 98

Supply Chain Matters

JULY 15, 2022

This week, the company announced a reversal in manufacturing and supply chain strategy, as well as a major turnabout. Supply chain strategy, process, talent and enabling technologies each play important roles. Sourcing was both a cost as well as landed cost decision factor. Timing was a further crucial factor.

Sourcing Strategies 105

Sourcing Strategies Cost Reduction Strategies Expense Reduction Inventory Reduction 105