SCMDOJO

FEBRUARY 26, 2025

indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. Example: If a company planned to procure materials worth $100,000 but ended up spending $120,000. The CPI calculation would be: CPI =100,000/120,000 = 0.83. A CPI of 0.83 Struggling to develop an appropriate procurement strategy?

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

MIT Supply Chain

JUNE 13, 2013

tel: 617-252-6965 Filed under: Security , Uncategorized Tagged: price negotiations , procurement , procurement professionals , product prices , purchasing , supplier goodwill , supplier negotiations , supply chain collaboration. Bruce Arntzen, Executive Director, SCM Program, MIT CTL, email: barntzen@mit.edu.,

Negotiate Pricing 78

Negotiate Pricing Negotiating Skills Purchasing Skills Manufacturing Procurement 78

QAD

JANUARY 16, 2025

Efficiency Gains 90% Reduction in RFQ Creation Time: The time required to create an RFQ dropped from several hours to just minutes, freeing resources for strategic activities like supplier negotiations. Streamlined Sourcing: The improved workflows enabled the team to focus on cost-saving negotiations rather than administrative tasks.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Negotiating Skills 52

Talking Logistics

MAY 1, 2023

This past February we asked members of our Indago supply chain research community — who are all supply chain and logistics executives from manufacturing, retail, and distribution companies — “Is your company using Artificial Intelligence in its supply chain or logistics operations?”

Case Study 273

Case Study Manufacturing Procurement Study Procurement 273

SCMDOJO

OCTOBER 7, 2024

In addition, management commitment, and continuous improvement that includes process optimization, digitalization, supplier negotiation, and customer feedback can reap the rewards. Resource Management Cost efficiency focuses on resource management such as inventory controls, supplier negotiation, staff training, and development.

Sourcing Strategies 92

Sourcing Strategies Negotiating Skills Cost Reduction Strategies Optimal Sourcing 92

Exiger Perspectives

OCTOBER 31, 2024

Artificial intelligence is making it so that we can bridge that skills gap.

Supply Chain Risk Management 52

Supply Chain Risk Management Supply Chain Planning Software Risk Management Supply Chain Software 52

Precoro

DECEMBER 24, 2024

AI can process large amounts of historical supplier performance data across multiple metrics, allowing procurement teams to make more informed, data-driven decisions instead of relying solely on anecdotal evidence or subjective evaluations. Detecting unusual or fraudulent behavior patterns in supplier transactions.

Price Reduction 97

Price Reduction Sourcing Strategies Cost Reduction Strategies Expense Reduction 97

SCMDOJO

DECEMBER 14, 2023

Navigating Complex Negotiations: When the intricacies of supplier negotiations become overwhelming, a sourcing agency can be your strategic ally. Sourcing agencies bring to the table a set of finely honed negotiation skills that can make a substantial difference in the financial aspect of procurement.

Purchasing Skills 104

Purchasing Skills Optimal Sourcing Negotiating Skills Sourcing Strategies 104

Requis

SEPTEMBER 7, 2023

This is essential for managing equipment flow, selecting suppliers, negotiating contracts, and mitigating risks. Data has long been a problem for procurement, with 97% of Dun and Bradstreet survey respondents indicating that supplier data management is an area of struggle for their teams.

Optimal Sourcing 59

Optimal Sourcing Analytics Software Procurement Analytics 59

ivalua

OCTOBER 8, 2021

Rather than relying on store managers to navigate local purchases, Procurement can add value by organizing the effort, evaluating and sourcing local suppliers, negotiating best pricing and delivery options, and automating the process by using technology to simplify inventory management at the local level. Attack GNFR Spend.

Optimal Sourcing 130

Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

Procurement Academy

NOVEMBER 17, 2022

These can take many forms, for example implementing a new process or tool that will help with supplier negotiations, being involved earlier by the stakeholder in an RFP process, or using total cost of ownership (TCO) analysis to select a supplier.

Buyer Training 96

Buyer Training Purchasing Training Training Price Mitigation Strategies 96

SCMDOJO

JANUARY 15, 2025

Mid-Level Opportunities Mid-level roles, like supply chain analysts and procurement specialists, involve process evaluation, supplier negotiations, and team supervision. Leadership and advanced analytical skills are vital for cost optimization and efficiency improvements.

Negotiating Skills 52

Negotiating Skills Supply Chain Planning Software Supply Chain Software Optimal Sourcing 52

ivalua

MARCH 9, 2023

S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. It starts with identifying the right suppliers for a need, sharing requirements and evaluating supplier offers, selecting the most appropriate supplier, negotiating terms and contracting with them to receive goods and/or services.

Optimal Sourcing 130

Optimal Sourcing Purchasing Skills Sourcing Strategies Sourcing 130

LevaData

JANUARY 20, 2022

Our revolutionary, AI-powered integrated supply management platform features one-of-a-kind solutions like Cost Optimizer, with capabilities like eBenchmark that are designed to take the guesswork out of supplier negotiations.

Negotiate Pricing 75

Negotiate Pricing Optimal Sourcing Negotiating Skills Supply Chain Design Software 75

Jaggaer

FEBRUARY 5, 2025

Technologies such as robotic process automation (RPA) will streamline and automate routine tasks such as invoice processing and contract management, while artificial intelligence can provide support for non-routine tasks such as supplier negotiations.

Sourcing Strategies 52

Sourcing Strategies Optimal Sourcing Manufacturing Procurement Negotiating Skills 52

SCMDOJO

APRIL 20, 2023

A procurement manager is deeply involved in identifying the procurement needs of the organization, researching potential suppliers, negotiating contracts, managing relationships with suppliers, and ensuring that procurement needs are met in a timely and cost-effective manner.

Negotiating Skills 116

Negotiating Skills Optimal Sourcing Manufacturing Procurement Procurement Analytics 116

Supply Chain View from the Field

JUNE 5, 2013

During the discussion, we spent a good deal of time discussing should-cost analysis as a tool to drive supplier negotiations, and establish a basis for building long-term contracts.

Negotiate Pricing 68

Negotiate Pricing Negotiating Skills Cost Reduction Strategies Analytics Software 68

QAD

JANUARY 19, 2023

Sourcing manages the electronic request for quote (RFQ) process with suppliers, from recording requirements to the RFI, contracts, and orders. More specifically, it identifies and qualifies suppliers, negotiates best-value agreements, streamlines processes, and manages sourcing knowledge.

Supply Chain Planning Software 98

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 98

EC Sourcing Group

JUNE 14, 2022

The righ t software can h elp you identify potential risks before supplier negotiations. Since you are dependent on your suppliers, you want to mitigate any potential risk before making decisions. Risk Management. Spend analysis software helps you keep track of vendor compliance, reliability, and past transactions.

Analysis 52

Analysis Forecasting Software Vendor Strategies Analytics Software 52

Jaggaer

JUNE 28, 2024

Many organizations lack automation in strategic areas such as supplier negotiations (58%), sourcing (44%), contract management (38%), and supplier identification and selection (37%).

Negotiating Skills 52

Negotiating Skills Supply Chain Software Negotiate Pricing Research 52

CormSquare

JANUARY 11, 2017

Supplier negotiations can be a tough topic to deal with. When suppliers eliminate competition by minimizing prices or creating technology interferes with competitors, it often seems like companies are forced to accept the prices of the goods. By utilizing following steps, you can do supplier negotiations like never before.

Negotiate Pricing 52

Negotiate Pricing Negotiating Skills Purchasing Skills Supplier Negotiating 52

EC Sourcing Group

MAY 17, 2023

By classifying goods and services into logical groups, procurement professionals can streamline the eSourcing process, facilitating easier identification and comparison of suppliers, negotiating favorable contracts, and expediting the sourcing cycle.

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

KEPLER Consulting

SEPTEMBER 3, 2019

Through this data driven approach, an exhaustive search can be conducted and result in a shortlist of screened suppliers to conduct RFI, RFQ/RFP, or on-site qualification. By outsourcing this process to a global team, with resources where the suppliers are located, the client can focus on keeping the lines running.?.

Negotiating Skills 56

Negotiating Skills Optimal Sourcing Sourcing Strategies Resource Reduction 56

SCMDOJO

MARCH 19, 2024

Moreover, by selecting reliable suppliers, negotiating favorable terms, and ensuring timely delivery, the supply chain department can optimize procurement processes and minimize costs. These functions include procurement, production planning, inventory management, logistics, and customer service.

Optimal Sourcing 98

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 98

SCMDOJO

JANUARY 17, 2024

Their role involves sourcing and purchasing high-quality products at competitive prices.

Purchasing Skills 98

Purchasing Skills Negotiating Skills Optimal Sourcing Manufacturing Procurement 98

Supply Chain Matters

DECEMBER 13, 2022

The tech provider provides AI enabled software that helps companies such as Walmart automate routine supplier negotiations. Reportedly, Walmart International conducted a pilot program to automate some supplier negotiations using this start-up’s technology. Reportedly: “.during

Supply Chain Design Software 52

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Negotiate Pricing 52

Unleashed

NOVEMBER 28, 2022

To best benefit your business, you must procure and manage suppliers that are a great fit for your business. This means: Researching and comparing various suppliers. Negotiating supplier contracts that are most beneficial to your business and clearly outline the process for mitigating problems that may arise.

Inventory Reduction 98

Inventory Reduction Material Savings Cost Reduction Strategies Resource Reduction 98

SCMDOJO

APRIL 29, 2024

Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. Planning ensures that resources are allocated effectively and that production and distribution meet customer demand.

Supply Chain Planning Software 98

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 98

Unleashed

JUNE 8, 2023

Procurement is the process of sourcing suppliers , negotiating sales terms, and purchasing the goods a company needs to run its daily operations. It outlines the methods to be used for sourcing suppliers, negotiating contracts, and making purchases. In this guide to procurement: What is procurement?

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

KEPLER Consulting

MARCH 23, 2018

Utilize data mining to determine optimization levers and prepare arguments for supplier negotiations. Identify savings opportunities (negotiation, VAVE, resourcing). Utilize benchmarking to identify gaps across BU/Regions and optimized sourcing strategies. Identify overpriced products and quantify savings opportunities.

Negotiating Skills 64

Negotiating Skills Purchasing Skills Negotiate Pricing Material Savings 64

Precoro

JULY 8, 2022

It also requires good interpersonal skills to convince prospective suppliers, negotiating skills to close the deal, and the ability to make informed and timely decisions. It’s a senior role that implies strong knowledge of finances, business administration and law, and industry trends.

Purchasing Skills 84

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 84

Precoro

AUGUST 26, 2021

In contrast, procurement specialists will have to perform market research, choose the best suppliers, negotiate with vendors on most favorable terms, identify and mitigate supply chain risks. Summing Up. Although often used interchangeably, purchasing and procurement are not the same.

Pricing Training 96

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 96

Supply Chain Game Changer

JULY 16, 2019

From one company to the next, from one industry to the next, and certainly from one individual to the next, Suppliers are viewed and managed differently. At its most basic level Suppliers are considered transactional. Companies find suppliers, negotiate prices and terms, place purchase orders and Suppliers fill those orders.

Negotiating Skills 58

Negotiating Skills Negotiate Pricing Procurement Analytics Purchasing Skills 58

Supply Chain Game Changer

NOVEMBER 24, 2018

Supply Chain Opz defines Procurement as follows: “ Procurement refers to the participation in the development of requirements and their specifications; managing value analysis activities; conducting supply market research; managing supplier negotiations; conducting traditional buying activities; administering purchase contracts; managing supplier (..)

Procurement Analytics 62

Procurement Analytics Purchasing Skills Optimal Sourcing Negotiating Skills 62

SCMDOJO

DECEMBER 11, 2023

Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction. Cost Savings: One of the primary benefits of procurement reports is their ability to contribute to cost savings.

Procurement Analytics 21

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 21

Logistics Bureau

JUNE 23, 2016

Beware the False Economies of Supplier Squeezing. In the long run, making a point of continuously aggressive supplier negotiation may prove to be a false economy. Encouraging suppliers to reduce costs is sensible, but there are many ways to do this.

Cost Reduction Strategies 45

Cost Reduction Strategies Material Savings Price Reduction Negotiate Pricing 45

Claritum

NOVEMBER 28, 2016

30% Cost control and supplier negotiations. Innovation management. Invoice routing and approval. Direct procurement management. ORGANIZATIONS’ TOP PROCUREMENT IMPROVEMENT GOAL. 20% Spend visibility. 15% Integration of AP within the procurement process. 14% Contract compliance. 13% Data accuracy. 8% Off-contract spend reduction.

Optimal Sourcing 50

Optimal Sourcing Cost Reduction Strategies Vendor Strategies Procurement 50