Jaggaer

JANUARY 14, 2020

While it may seem like only a tiny fraction of a manufacturing company’s budget, The Dryden Group reports that, in reality, “Manufacturers specifically can spend 20 percent or more on indirect expenses.” For best practice examples, Charles suggests looking toward services industries, where a strong focus is put on indirect spend. “

Supply Chain Efficiency 40

Supply Chain Efficiency Raw materials supply chain budgeting Supply Chain Optimization 40

Zycus Cognitive Procurement

JULY 25, 2022

This is primarily due to the pandemic which shifted the focus to the more urgent issues such as digital transformation, securing supplies, managing supply chain risks, pricing negotiations etc. Not understanding the data implications may result in budget overruns, overtime, or scope reduction in data management.

supply chain budgeting 52

supply chain budgeting Procurement Agile and Lean Supply Chain Management 52

Empowering CPO

JUNE 26, 2023

In healthcare, where budgets are tight and patient care is the top priority, effective spend analysis holds tremendous value. Staffing and Workforce: Healthcare organizations allocate a significant portion of their budget to workforce-related expenses, including salaries, benefits, and temporary staffing services.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Pipefy

JANUARY 5, 2023

Errors can cost companies directly if prices are entered incorrectly or discount deadlines are missed, or indirectly when mistakes have to be corrected. Manual tasks take up time that could be better spent on value-producing activities such as price negotiations or vendor relationship management. Budget Control.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 52

Procurement Software

MARCH 11, 2022

What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. There are 2 issues here.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Even if budgets have been set, there is very little control that a CFO or a procurement team can yield. There are 2 issues here.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Pipefy

MAY 9, 2023

Too many suppliers, on the other hand, can be a financial detriment, as it significantly lowers the chances for discounts and successful price negotiations. Headcount and spend-per-employee Tracking and measuring the number of full-time employees in a procurement department produces valuable data for budgeting and forecasting.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

Pipefy

AUGUST 1, 2023

In the past, that meant cutting facilities budgets or reigning in travel allowances. Complete knowledge of business operations plays an important role in budget planning — this is, after all, where the money is spent. Businesses must set cost objectives at the creation stage of their operations strategy.

Strategy 52

Strategy supply chain budgeting Supply Chain Efficiency Real-time Visibility 52

Procurement Software

JUNE 25, 2024

Cost Reduction Cost reduction in procurement transcends mere price negotiations. These can include negotiating contracts that prevent price increases or optimizing the supply chain to avoid rushed shipping fees. It’s about preemptive measures that avoid costs that would have been incurred in the absence of such actions.

Procurement 52

Procurement Supply Chain Efficiency Chief Procurement Officer Price 52

IBM Supply Chain Blog

APRIL 4, 2024

Benefits: Streamlined service request handling Centralized knowledge base access Enhanced customer satisfaction and loyalty Financial management BPM is used to streamline financial processes such as budgeting, forecasting, expense management, and financial reporting.

Real-time Visibility 54

Real-time Visibility Management e2e Supply Chain Efficiency 54

World of Procurement blog

MAY 8, 2024

It also identifies required resources, budgets and milestones for a successful strategic transformation. Cost Savings - The total cost reduction achieved through strategic sourcing, price negotiations, product rationalization etc. needed to deliver on the KPIs. High compliance reduces maverick buying.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Planergy

JANUARY 19, 2023

Additionally, since it requires minimal effort and resources compared to other cost analysis methods, it has become a popular choice among many businesses looking for ways to optimize their budgeting process.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Procurement Tactics

JULY 11, 2022

Example 1 — CASE-STUDY: PRICE NEGOTIATION BETWEEN AMAZON AND WHOLE FOODS. Actual case: The case study is based on a real-life price negotiation between Amazon.com and Whole Foods Market. . International Longshore and Warehouse Union. North Korea vs South Korea. Largest Ponzi Scheme.

Negotiation 130

Negotiation Procurement Bidding Ethics 130