Una

MARCH 6, 2023

After all, procurement teams are supposed to be the cost-cutting experts, so an unnecessarily expensive and wasteful function goes against procurement’s central mission. Getting Lean may therefore mean finding ways to reduce cost-to-source, or reducing the team headcount and doing more with less.

Purchasing 98

Purchasing Innovation Agile and Lean Supply Chain Supplier relationship management 98

SCMDOJO

FEBRUARY 13, 2023

To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management. Negotiates cost-effective contracts with suppliers while following organizational policies and guidelines.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

The Thomas Blog

JUNE 22, 2022

To start, industrial businesses will need an effective online marketing and sales strategy to help them achieve their business goals — because the B2B buyer behavior has changed. Buyers want to know as much about you as they can to help answer these questions: Are you reliable? Be Where Buyers Search For New Suppliers.

Buyers 64

Buyers Real-time Visibility supply chain budgeting Supply Chain Efficiency 64

Planergy

AUGUST 8, 2023

They include: Open tendering Single-source procurement Two-stage tendering Restricted tendering Request for proposal (RFP) Request for quotation (RFQ) Your procurement team will determine which method to source goods and services based on what you need, when you need it, your budget, and other factors.

Sourcing 52

Sourcing Suppliers Procurement Bidding 52

World of Procurement blog

JULY 27, 2021

We’d even go so far to say that the modern procurement pro doesn’t focus that much time on the actual buying, as roles have grown to focus on Supply Chain Management, Contract Management and Relationship Management. You’ll also notice that Procurement is often talked about as part of the Supply Chain. That sucks!

Procurement 52

Procurement Procurement team supply chain budgeting Contract management 52

Supply Chain Game Changer

NOVEMBER 22, 2018

Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? Some of the first-hand areas from small to large organizations have been: An $8 billion global company has been placing all items for bid each year to realize cost savings. Landgraf, CEO at Above the Standard ( [link] ). Another $1.5

supply chain budgeting 63

supply chain budgeting Procurement Supply Chain Efficiency supply chain software solutions 63

Arkestro

OCTOBER 3, 2024

From an increasing regulatory landscape to new automotive innovations, it’s never been more important for procurement professionals to find new ways to reduce costs, eliminate inefficiencies, and stay updated on the latest industry trends. They include safety equipment, office supplies, cleaning, IT, rental cars, and others.

Procurement 52

Procurement Procurement team Supply Chain Efficiency supply chain budgeting 52

Procurement Software

MARCH 11, 2022

Typically, the value that a procurement professional contributes to a business can usually be measured either in: Hard cost savings, or; Other, less tangible but equally important forms of value: Cost avoidance. Sustainability initiatives within the supply chain. Competitive bidding for €10k worth of one-time spend.

Supply Chain Efficiency 72

Supply Chain Efficiency supply chain software solutions Procurement Category management 72

World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development. needed to deliver on the KPIs.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Planergy

OCTOBER 20, 2022

Sourcing Supply Chain Management. RFX – request for X – can refer to any request a buyer issues a vendor – thereby applying to any of these documents. An ROI, also called an Expression of Interest or EOI, is not a solicitation for bids but a way for organizations to gauge interest from potential suppliers.

Buyers 52

Buyers Supply Chain Efficiency Price Suppliers 52

Procurement Software

JULY 4, 2023

It aims to make the procurement process more efficient, transparent, and cost-effective. It can help organisations reduce costs, optimise supplier relationships and increase compliance. It has become an essential tool for companies in today’s digital world to save time and reduce costs.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement supply chain budgeting 52

Procurement Software

JUNE 13, 2023

It serves the needs of purchasing managers, procurement professionals and senior buyers. It enables users to allocate, manage and monitor budgets. Catalogue Management allows you to enjoy the e-commerce experience for your corporate supplies as you create requests faster and easier.

supply chain software solutions 52

supply chain software solutions Contract management Contract Sourcing 52

Value Match

SEPTEMBER 29, 2022

Bid Management. The Public Sector, at an aggregate level, is the single largest UK buyer of goods and services that are not consumer focused. It was not about taking, say 10%, off the cost of the product or service, removing the budget and re-allocating that saving to another cost centre or organisation.

Procurement 52

Procurement supply chain budgeting Ethics Supply Chain Efficiency 52

Procurement Software

MARCH 7, 2023

It enables: Building stronger relationships with your key suppliers Competitive bidding, which optimises cost Evaluating non-price factors important to your organisational objectives e.g. quality, lead time, sustainability Performing the appropriate pre-qualification of suppliers. Improvements to end-to-end supply chain efficiency.

Sourcing 64

Sourcing supply chain software solutions Procurement Agile and Lean Supply Chain 64

Supply Chain Game Changer

NOVEMBER 23, 2018

Growing global complexity in supply chain management has forced organizations to look towards technology as their silver bullet; serving as the missing link between people (supply chain actors) and the ability to collaborate at scale. Check out What Exactly is Blockchain? And How Does it Work? Infographic).

Supply Chain Efficiency 50

Supply Chain Efficiency Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 50

Planergy

JULY 21, 2023

You set the budget and deliverables, then work with various freelancers with a test assignment. Goods have fixed prices, whereas services usually involve negotiation between buyers and sellers to reach a pricing agreement. Inadequate Budgeting Without a budget, a business may not be able to negotiate favorable terms with providers.

Management 52

Management Procurement supply chain budgeting Budget 52

Procurement Software

MARCH 11, 2022

Typically, the value that a procurement professional contributes to a business can usually be measured either in: Hard cost savings, or; Other, less tangible but equally important forms of value: Cost avoidance. Sustainability initiatives within the supply chain. Competitive bidding for €10k worth of one-time spend.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement Category management 52

Finale Inventory

JULY 26, 2024

By implementing effective strategies, you can reduce costs, minimize inventory errors, and improve overall efficiency. With Finale Inventory, you can bid farewell to the complexities of inventory management and embrace a streamlined approach that empowers you to stay on top of your inventory at all times.

Inventory 52

Inventory Supply Chain Efficiency Strategy Management 52

TYA Suite

OCTOBER 16, 2024

This explains why the purchase-to-pay life cycle is so important: By implementing a structured purchase-to-pay cycle, organizations can track spending and control costs effectively. Visibility into each stage of procurement helps prevent unnecessary spending and ensures that purchases adhere to approved budgets.

Purchase orders 40

Purchase orders Procurement Supply Chain Efficiency Purchasing 40

Procurement Software

DECEMBER 5, 2022

Competitive bidding, which optimises cost. Improvements to end-to-end supply chain efficiency. Some of the more advanced procurement software offering source-to-pay functionality can also provide: Reverse auction capability, with complex functionality for bid and proposal evaluation criteria. Value Drivers (H3).

Sourcing 52

Sourcing supply chain software solutions Procurement Agile and Lean Supply Chain 52

Procurement Software

MAY 21, 2024

None of them are budget tools, but they exist. The rough process is as follows: A free text requisition comes in They go to market and get three bids and a buy, or they just use an e-procurement tool to purchase something from a catalogue. This avoids you, the Buyer, having to do as much research, forecasting or modelling.

Supplier negotiation 52

Supplier negotiation Negotiation Suppliers Procurement 52

SCMDOJO

FEBRUARY 29, 2024

It is arguably true that supplier performance management is considered a business practice for measuring, analyzing, and managing supplier performance to reduce cost, and risk and also drive continuous improvement. Therefore, the success of supplier performance management directly affects the quality of the entire supply chain.

Suppliers 84

Suppliers Management Quality Import 84

Empowering CPO

JUNE 14, 2023

At its core, procurement is the process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Organizations are now expected to not only manage cost but also to ensure supply chain resilience, mitigate risks, and contribute to strategic objectives.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Pipefy

NOVEMBER 24, 2023

Procurement solutions encompass a wide range of specific functions due to the many aspects of the procurement process, including purchase requests centralization, procure-to-pay, sourcing, budget management, supplier management, and forecasting. These features help organizations make informed decisions and track purchases in real time.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency e2e 52

Jaggaer

OCTOBER 8, 2019

With budgets not growing at an adequate pace, or even shrinking, procurement cannot deliver the value that digital transformation promises. They should also extend this digitalization to supply chain management (supplier portal, webEDI, etc.) This is precisely the approach that JAGGAER has adopted with the launch of JAGGAER ONE.

Procurement 40

Procurement e2e Agile and Lean Supply Chain supply chain software solutions 40

Supply Chain Game Changer

MAY 12, 2021

Subscribe to Supply Chain Game Changer. Emerging procurement theory suggests that creating win-win situations within buyer and supplier agreements are the best ways to create long-lasting, engaging, creative, collaborative, and innovative partnerships. Subscribe Here! Email Address. Featuring Our 12 Best Procurement Articles!

Negotiation 69

Negotiation Buyers Bidding Collaboration 69

Pipefy

MAY 9, 2023

Supplier KPIs Suppliers, by definition, comprise a crucial link in your supply chain. Buyers that don’t use enough suppliers make themselves vulnerable to dependency on one for certain goods or services. Budget review and request for proposal Finance reviews the PO and establishes the availability of funds.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

Supply Chain Game Changer

JANUARY 9, 2019

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. If a department wants to order equipment that’s beyond budget what would you do? There are many options available for handling a request to make a purchase that exceeds an internal customer’s budget.

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

Procurement Software

MARCH 11, 2022

Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. Implement a competitive bidding policy. These requirements are often not well negotiated because as long as the stakeholder is within budget, he/she probably doesn’t care so much about the cost. There are 2 issues here.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. Implement a competitive bidding policy. These requirements are often not well negotiated because as long as the stakeholder is within budget, he/she probably doesn’t care so much about the cost. There are 2 issues here.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Claritum

AUGUST 28, 2018

Eliminating or reducing competition. Low bid with knowledge that over or false payments can be extracted. Four areas where supplier loading occurs are: Eliminating or reducing competition. Low bid with knowledge that over or false payments can be extracted. 1 Eliminating or reducing competition. Introduction.

Suppliers 32

Suppliers Bidding Procurement Contract 32

Procurement Insights

FEBRUARY 26, 2025

Hansens concept of “Velocity Procurement” is a modern evolution of his earlier work in supply chain and procurement optimization, reflecting his decades of experience streamlining processes for organizations like the Canadian Department of National Defence and the New York City Transit Authority. That systems success (e.g.,

Agile and Lean Supply Chain 83

Agile and Lean Supply Chain Procurement Real-time Visibility Supply Chain Optimization 83