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Centralized Purchasing System – Key Benefits and Effective Strategies

Precoro

For most CPOs and CFOs, deciding on the right purchasing setup — centralized or decentralized — is no small task. In this article, we’ll explain what centralized purchasing is, the challenges it tackles, the benefits of centralized procurement, and the types of companies that can benefit most from it.

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7 key skills for successful supply chain and procurement negotiation

Procurement Academy

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.

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Mastering the art of Supplier Negotiation: Tips and Techniques

SCMDOJO

Supplier negotiation is the most critical skill in the world of procurement. Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. The following are common types of negotiation in procurement: 1.

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The Importance of Energy Transition and Sustainability in the Logistics and Supply Chain Industry

Logistics Viewpoints

Reliance on fossil fuels creates additional challenges: Economic Vulnerability: Volatile oil prices and geopolitical conflicts increase financial risks. Explore power purchase agreements (PPAs) to secure reliable access to clean energy. Implement technologies incrementally to manage costs and training needs.

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AI in procurement: Applications, Challenges, and Mitigation Strategies

Precoro

For example, AI can spot recurring or unnecessary costs, detect maverick spending (when employees purchase outside of approved channels), and identify opportunities for cost savings based on historical spending patterns. This gives them advance warning so they can adjust their purchasing strategies.

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Training For Supply Chain Legal Issues and How To Resolve Them

Procurement Academy

Your supply chain professionals need high-quality training around supply chain legal issues to make sure that your organization is safeguarded against threats and to navigate legal complexities easily. Were going to explore some common issues, how you can deal with them, and how to train your staff to tackle legal issues effectively.

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Is AI Hype or a Truly Revolutionary Technology Set to Transform Logistics? (AI Popup #3)

Freightos

Historically, we were able to use technology to wrangle standardization for things like pricing and rating, helping ExFreight emerge as the first digital forwarder. So we are currently experimenting with using the trained LLM developed for our chatbot, combined with filtering tools, to automate responses to various email inquiries.