ToolsGroup

MARCH 31, 2025

However, this approach ignores real purchasing behavior, such as customers buying complete sets of four tires. Probabilistic demand forecasting, in contrast, provides a full probability distribution, revealing actual purchasing patterns and enabling inventory planners to align stock levels with demand realities.

Forecasting 156

Forecasting Supply Chain Planning Software Forecasting Software Supply Chain Planning 156

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 275

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 275

Logistics Viewpoints

JUNE 1, 2023

That’s why staying on top of the latest supply chain planning trends is so important – they can make all the difference when it comes to staying competitive, reducing costs, and meeting your customers’ needs. Here are some highlights from these trends in 2023 and implications on supply chain planning.

Supply Chain Planning Software 277

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Software 277

SCMDOJO

MARCH 24, 2025

Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.

Purchasing Skills 68

Purchasing Skills Negotiating Skills Negotiate Pricing Procurement Analytics 68

Procurement Academy

JANUARY 16, 2025

Looking to improve operations and achieve cost savings within your procurement processes? Perhaps you already have a process audit report, or are interested in discovering how it could benefit you and streamline your operations. What is the Purpose of a Process Audit Report?

Procurement Analytics 52

Procurement Analytics Sourcing Strategies Optimal Sourcing Negotiating Skills 52

Logility

MARCH 13, 2020

Here’s your two-minute guide to understanding and selecting the right descriptive, predictive and prescriptive analytics for use across your supply chain. Looking at all the analytic options can be a daunting task. However, luckily these analytic options can be categorized at a high level into three distinct types.

Prescriptive Analytics Software 209

Prescriptive Analytics Software Predictive Analytics Procurement Analytics Analytics Software 209

SCMDOJO

DECEMBER 29, 2024

Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities This supply chain article provides a comprehensive overview of the procurement department within an organization. Read In Detail About Procurement Department Here 2.

Negotiating Skills 95

Negotiating Skills Purchasing Skills Purchasing Training Buyer Training 95

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

Procurement Analytics 21

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 21

Jaggaer

DECEMBER 5, 2024

Opportunities for Procurement Technology As we look toward 2025, European businesses are reshaping their supply chains to navigate an increasingly complex global landscape. A recent report by Maersk and Reuters Events highlights that 68% of companies are making supply chain visibility and monitoring solutions a top priority.

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Procurement Solutions Supply Chain Software 52

Logistics Viewpoints

DECEMBER 15, 2022

There is so much data, and to make use of it, we need to use data mining and analytics to drive meaningful insights that can be put to some good use. ABC analysis creates product segments by grouping products with similar sales volume or purchase frequency to enable category managers to focus on what matters most.

Optimal Sourcing 264

Optimal Sourcing Analysis Procurement Analytics Purchasing Skills 264

Jaggaer

MARCH 6, 2025

The landscape of public sector procurement has undergone significant transformation in recent years, driven by advancements in technology, evolving regulatory frameworks, and an increasing emphasis on sustainability. Predictive analytics powered by ML helps organizations anticipate procurement trends and identify potential risks.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Analytics Software Procurement Solutions 52

Precoro

MARCH 27, 2025

Rising costs, supply chain chaos, and economic swings put businesses under enormous pressure to protect their margins. According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction. 

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

Logistics Viewpoints

MAY 13, 2024

This technology allows businesses to unify their procurement, expense management, invoicing, payments, sourcing, contract management, and spend analysis processes and reporting. This solution provides for purchase order collaboration. But it took several months for Turner to realize just how much foresight the company had shown.

Procurement Solutions 298

Procurement Solutions Forecasting Software Modeling Software Procurement Analytics 298

My Office Apps

OCTOBER 21, 2024

Strong vendor relationships are critical for business success, especially when it comes to managing inventory and procurement. Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes.

Vendor Strategies 98

Vendor Strategies Procurement Solutions Supply Chain Planning Software Optimization Software 98

Jaggaer

MARCH 24, 2025

Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Negotiating Skills 52

Logility

JANUARY 26, 2024

However, this year promises a significant paradigm shift where traditional performance metrics are replaced by technology-driven frameworks, as recent breakthroughs with Generative AI in supply chains have demonstrated. Enter our list of supply chain trends for 2024.

Supply Chain Planning Software 214

Supply Chain Planning Software Supply Chain Design Software Modeling Supply Chain Software 214

RFgen

NOVEMBER 13, 2024

Key components of mobile inventory management include: Smartphone app: Allows field agents to log information, analyze metrics, and manage tasks even in remote areas with limited connectivity. Cloud software: Stores and distributes real-time data, producing reports accessible to all team members.

Inventory Management Software 96

Inventory Management Software Real-time Visibility Inventory Reduction Inventory Management 96

ToolsGroup

FEBRUARY 7, 2022

The Retail Trends Shaping How We Shop in 2022. Love it or hate it, daily necessities need to be purchased. Whichever reasons fuel the motivations of your target market, here are the top trends shaping how they’ll buy – and how you can stay front of mind and ahead of the competition. Digital Commerce Matters More Than Ever.

Supply Chain Planning Software 177

Supply Chain Planning Software Trends Retail Forecasting Software 177

AFFLINK

JANUARY 13, 2025

Fortunately, predictive analytics is becoming a new essential tool in supply chain management , especially for combatting common challenges with seasonal inventory. By using predictive analytics to align inventory levels with forecasted trends, companies can minimize stockouts and overstock situations.

Predictive Analytics 48

Predictive Analytics Inventory Reduction Inventory Management Software Procurement Analytics 48

Precoro

FEBRUARY 26, 2025

Within this setup, an ERP procurement module helps companies make purchases and manage suppliers. Numbers speak louder: According to Procurement Tactics’ top procurement trends in 2025 , 83% of CPOs prioritize digitization.   Keep reading to learn: What Is ERP in Procurement?

Procurement Solutions 45

Procurement Solutions Optimal Sourcing Procurement Analytics Manufacturing Procurement 45

ToolsGroup

AUGUST 1, 2022

Retail returns occur when a customer returns the purchased items to a seller in exchange for a refund, store credit, or a similar product. Returns come with plenty of challenges around logistics, inventory, and predicting volatile sales trends. 84% of buyers read the return policy before making an online purchase.

Retail 296

Retail Optimal Sourcing Purchasing Skills Procurement Solutions 296

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 105

Purchasing Skills Procurement Solutions Procurement Analytics Negotiate Pricing 105

Enterra Insights

MARCH 1, 2022

”[3] Below are some of the trends affecting the food and beverage landscape. Food and Beverage Trends. The IFIC staff predicts, “Unsurprisingly, the pandemic lockdowns for many Americans marked a period of food indulgence and dietary backsliding. In 2020, 57% of American households purchased plant-based foods.”

Beverage 173

Beverage Food Trends Manufacturing Procurement 173

Logistics Viewpoints

SEPTEMBER 6, 2024

These clothing companies have revolutionized how consumers purchase, wear, and dispose of their clothing. First, in the early 2000s, advancements in data analytics, RFID, and localized supply chains fueled the rise of “fast fashion.” Ulula utilizes analytics to improve the working conditions for workers across global supply chains.

Supply Chain Planning Software 312

Supply Chain Planning Software Supply Chain Software Logistics Network Optimization Software North Carolina 312

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 105

Negotiating Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 105

Logistics Viewpoints

MARCH 4, 2021

Digital commerce efficiently requires the digitalization of many customer-facing operations and sourcing and procurement. The First Step: Bring all the data together and ensure analytics and planning can happen on the same platform. . Accurate and timely reconciliation of purchase orders with receipts.

Supply Chain Planning Software 290

Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 290

SCMDOJO

APRIL 11, 2025

Understanding how your Procurement and Supply Chain KPIs are performing isn’t just a nice-to-have; it’s essential for survival and growth. Is inventory bloating your costs? Why You Need Visibility of Supply Chain and Procurement KPIs? Running procurement and supply chain without metrics is like driving blindfolded.

Pricing Training 52

Pricing Training Negotiating Skills Purchasing Skills Optimal Sourcing 52

SCMDOJO

DECEMBER 29, 2024

SCMDOJO Academy elevates your procurement and supply chain skills through its extensive course library. Mastering Procurement – Essentials Skills and Competencies Mastering Procurement by Maryna Trepova is the ultimate Procurement and Purchase Management course for Engineers, Entrepreneurs, Managers, and Students.

Optimal Sourcing 98

Optimal Sourcing Course Negotiating Skills Purchasing Skills 98

Supply Chain Shaman

MAY 26, 2023

Primed for transactional efficiency, these legacy architectures based on relational databases drive order-to-cash and procure-to-pay efficiencies. Current Familiarity with Analytic Concepts (Fall 2022 Snapshot) Preamble Supply chain leaders love their rows and columns. I term this our data jail. The focus of the Gartner Magic Quadrant.)

Optimal Sourcing 356

Optimal Sourcing Modeling Supply and Demand Manufacturing Procurement 356

ToolsGroup

AUGUST 12, 2022

With Google reporting that omnichannel shoppers have a lifetime value that is 30% higher than those who only shop via one channel, getting your omnichannel strategy right is critical to creating a customer experience that drives profitability. . That’s where omnichannel retail trends enter the equation. Omnichannel is king in 2022. .

Omnichannel 156

Omnichannel Optimal Sourcing Supply Chain Planning Software Inventory Reduction 156

Silvon Software

APRIL 16, 2025

Striking the perfect balance between available stock and cost efficiency is key. By leveraging analytics and key performance indicators (KPIs), manufacturers can optimize inventory, reduce waste, and boost profitability. Get it wrong, and you risk financial strain and fulfillment headaches. Why is GMROI important?

Optimal Sourcing 65

Optimal Sourcing Inventory Reduction Supply Chain Optimization Price Mitigation Strategies 65

Logistics Viewpoints

OCTOBER 18, 2023

The third trend is that global trade growth appears to be gradually slowing. The report for August (released in late September) shows negligible changes in the aggregate. Manufacturing Purchasing Managers Indexes The J.P. The first pattern I noticed was an extreme decrease followed by an extreme increase in 2020.

Manufacturing Procurement 334

Manufacturing Procurement GEP Purchasing Skills Logistics 334

ToolsGroup

DECEMBER 5, 2024

from last year, with over two-thirds of purchases happening online. Stockouts and Overstock Hurt Retailers The inventory imbalance was glaring this year: 33% of shoppers ** reported being unable to find the items they wanted due to stockouts. Retarget customers with personalized offers based on their browsing or purchase history.

Inventory Reduction 156

Inventory Reduction Waste Reduction How To Price Mitigation Strategies 156

Logistics Viewpoints

FEBRUARY 3, 2022

Calls are increasing for a return to just-in-case (JIC) policies, with some citing this trend as a risk. But you don’t just have to wait to see what has happened; planners can proactively create scenarios to simulate decisions and weigh trade-offs on the metrics that matter across the network, not just one link at a time.

Inventory Reduction 331

Inventory Reduction Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning 331

Logistics Viewpoints

JUNE 4, 2024

However, the juice for my newfound nightly routine soon became difficult to find, perpetually out of stock each time I tried to purchase it at the grocery store. Recent statistics have revealed a surge in sales across the United States , indicating a growing trend that has caught the attention of both consumers and retailers alike.

Inventory Reduction 303

Inventory Reduction Supply Chain Planning Software Waste Reduction Inventory 303