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

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 Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

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. Keep reading to learn: What is a group purchasing organization?

Purchasing Skills 84

Purchasing Skills Procurement Solutions Procurement Analytics Negotiate Pricing 84

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 209

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 209

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 218

Optimal Sourcing Sourcing Strategies Manufacturing Procurement Material Savings 218

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

Precoro

OCTOBER 24, 2022

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole.

Procurement Solutions 80

Procurement Solutions Procurement Analytics Analytics Software Sourcing Strategies 80

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. There must be a clearly defined data source with a standardized process for collecting and measuring that data.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

SYSPRO Smarter ERP

AUGUST 2, 2023

Food and Drug Administration (FDA) and other governmental entities necessitates continuous reporting on product traceability and adherence to exacting standards. Acquiring and consolidating data can be a formidable task, however, especially when data is scattered across different systems and formats.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Analytics Analytics Software Optimal Sourcing 98

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

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

The Logistics & Supply Chain Management Society

FEBRUARY 16, 2023

Procurement, activities such as strategic sourcing, are one of the main processes in the supply chains that can generate a positive impact on companies by giving them a competitive advantage in the market. Strategic sourcing can help supply chain leaders identify potential risk factors and develop procurement mitigation plans.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Sourcing Strategies Optimal Sourcing Purchasing Skills 130

Precoro

DECEMBER 11, 2023

To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing. Strategic sourcing is a holistic approach to supply chain management that includes tactics for optimizing the total cost of ownership, improving supplier relationships, and ensuring long-term value creation.

Negotiating Skills 83

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 83

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. Alex Zhong, Director Product Marketing at GEP.

Supply Chain Network Software 250

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 250

Jaggaer

JULY 4, 2024

Christian Heinrich, Co-Founder and Managing Director, c arbmee The 80% Challenge I was recently delighted to participate in a JAGGAER live webinar focused on the introduction, in recent years, of carbon emissions measurement as a factor in strategic sourcing. CBAM takes effect in 2026, with reporting already required from 2023.

Manufacturing Procurement 59

Manufacturing Procurement Sourcing Strategies Purchasing Skills Cost Reduction Strategies 59

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

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

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

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Silvon Software

SEPTEMBER 28, 2023

Silvon has noticed over the past several years that a shift towards a modern data hub architecture to support enterprise analytics and reporting has been driven by a number of key business drivers. Once integrated, the data is made “analytics ready” and securely available to users.

Procurement Analytics 105

Procurement Analytics Report Data Optimal Sourcing 105

Supply Chain Shaman

APRIL 27, 2022

The supply chain is a complex non-linear system. At each company, there is a relationship between the metrics of growth, margin, inventory, customer service, and asset strategy. For the purpose of this article, I will use Return on Invested Capital (ROIC) as the proxy metric to discuss asset utilization.) Was this by design?

Procurement Analytics 341

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Supply Chain Design Software 341

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

Supply Chain Shaman

AUGUST 12, 2024

However, my worldview is that the larger shifts are far more systemic requiring a call for action that is going largely unheard. 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. Let me explain. So, my reply to Peter S.

Waste Reduction 195

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

Precoro

AUGUST 14, 2023

More and more companies are acknowledging the importance of centralizing and optimizing their procurement operations. One of the ways to accomplish this is to establish a procurement team to streamline ordering by centralizing purchases and improving supplier relations. What are the duties of a procurement manager?

Negotiating Skills 74

Negotiating Skills Purchasing Skills Buyer Training Procurement Solutions 74

Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

Optimal Sourcing 63

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 63

SCMDOJO

APRIL 4, 2023

Luckily, supply chain analytics is here to help! By harnessing the power of data and analytics, companies can uncover valuable insights into their supply chain processes, pinpoint areas in need of improvement, and make informed decisions that can boost their bottom line. Key Takeaways What is Supply Chain Analytics?

Prescriptive Analytics Software 111

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Supply Chain Design Software 111

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

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. Strategic sourcing with Cloud ERP.

Manufacturing Procurement 105

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement Solutions 105

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.

Negotiating Skills 116

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 116

Silvon Software

MAY 1, 2024

Predictive Analytics has emerged as a pivotal tool in this quest, offering unprecedented foresight into market trends, consumer behavior, and operational efficiencies. Data Quality and Integration At the heart of any predictive analytics model is data.

Prescriptive Analytics Software 59

Prescriptive Analytics Software Predictive Analytics Software Analytics Software Predictive Analytics 59

Jaggaer

MARCH 23, 2020

And most importantly, what augmented analytics can do for you. Read up on How Augmented Analytics Will Transform Your Organization: A Gartner Trend Insight Report. Analytics has been with us for some time – more than a couple of decades. And that, of course, includes procurement professionals.

Procurement Analytics 78

Procurement Analytics Analytics Software Procurement Solutions Optimal Sourcing 78

Unleashed

JUNE 4, 2024

The procurement processes you implement directly impact how efficiently the business operates. Conversely, the consequences can be disastrous if procurement lacks the right structure or planning. What is a procurement process? Strategy is extremely important in the procurement process. Let’s dive right in.

Procurement Solutions 52

Procurement Solutions Manufacturing Procurement Optimal Sourcing Procurement Analytics 52

Silvon Software

APRIL 18, 2024

Insights gleaned from robust data analytics enable core business areas to identify opportunities for risk reduction, enhance operational efficiencies, and foster strategic initiatives that drive business growth. For example, using forecasting models to predict quarterly sales and adjust marketing spend accordingly.

Manufacturing Procurement 59

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 59

ShipBob

DECEMBER 28, 2022

Where you get these from, or how you source them, can be a huge decision. Sourcing can seem overwhelming if you’re a brand or retail buyer not entirely sure what you’re doing, but it can significantly impact the quality, cost, and availability of your products. What is strategic sourcing? What is procurement?

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

EC Sourcing Group

JUNE 8, 2021

Where to Start if You’re New to Procurement Sourcing Solutions. There are many people who are not new to procurement and sourcing and its role in the supply chain but may be new to sourcing solutions and software. Procurement Sourcing Solutions : What Is Procurement Management?

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Procurement Analytics Sourcing Strategies 52

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