This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
And it seems that increasingly three topics come to the fore – effectiveness, creativity and agility. . But then we move on to our two other targets – agility and creativity, which define where Procurement needs to go in order to sustain its contribution into the future. . Effectiveness is a better word than “efficiency”, of course.
By selecting and developing the right suppliers and establishing streamlined, transparent communication with them, manufacturers gain the agility and resilience to respond to customer demands, rise to the top, and navigate disruptions more easily. That makes agility a foundational part of your manufacturing strategy.
By leveraging advanced technologies and innovative methodologies, the collaboration aims to streamline and optimize the procurement and supplychain processes, enhancing efficiency and driving unparalleled value for manufacturing, financial services, life sciences, transportation and logistics and energy and utilities sectors across the region.
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supplychain management, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
With deep expertise in developing agile strategies and solutions in response to changing objectives and priorities, BearingPoint’s Sourcing & Procurement team supported the client in defining the procurement and supplier quality digitization path to streamline and innovate supplier management processes. .
Our survey shows that most procurement teams are there already with many applications: SRM, eSourcing, and eProcurement are in place. They should also extend this digitalization to supplychain management (supplier portal, webEDI, etc.) This will play a vital role in making organizations more agile and reducing supplier risk.
Supplier KPIs Suppliers, by definition, comprise a crucial link in your supplychain. Buyers that don’t use enough suppliers make themselves vulnerable to dependency on one for certain goods or services. Lead time If you’re looking for one metric that gauges the overall efficiency of your supplychain, track the lead time KPI.
These insights enable data-driven decision-making, negotiation strategies, and risk mitigation, leading to more informed procurement choices. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.
They can also create adversarial relationships between buyers and suppliers, as they often involve tough negotiations and a focus on short-term gains rather than long-term collaboration. Organizations are now expected to not only manage cost but also to ensure supplychain resilience, mitigate risks, and contribute to strategic objectives.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content