IBM Supply Chain Blog

SEPTEMBER 6, 2023

Budgeting, an essential pillar of financial planning for organizations, often presents a unique dilemma known as the “Budgeting Paradox.” ” Ideally, a budget should give the most accurate and timely idea of anticipated revenues and expenses. It’s not about dismissing traditional budgeting.

Budget 82

Budget Data Collaboration Strategy 82

Spend Matters

FEBRUARY 13, 2025

However, although Utz Brands enjoys a long and successful history, Ron understood that he had to be prudent and efficient with the dollars available to invest in technology because he did not have the budget that larger competitors have to spend. The change is more of a mental process than learning to press certain buttons, he says.

Influencing 91

Influencing Procurement supply chain budgeting Strategic sourcing 91

Skill Dynamics

MARCH 14, 2024

As the year draws to a close, organizations face the critical task of effectively utilizing their end-of-year Learning and Development budgets. The allocation of this budget is not a decision to be taken lightly, as it has a direct impact on the company’s growth, productivity, and talent development.

supply chain budgeting 96

supply chain budgeting Budget Raw materials Procurement team 96

Procurement Insights

MARCH 2, 2024

One of them was finding out what the three lowest priorities are on most IT budgets. One Final Question When it comes to IT spend, who is the primary holder of the budget? “The IT budget is typically overseen by the chief information officer (CIO) , the IT organization’s top executive. Can you guess what they are?

Budget 81

Budget Stakeholder engagement Project management Sourcing 81

Jaggaer

FEBRUARY 5, 2025

The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. By the way, when doing sourcing preparations it doesn’t mean that you can’t work on multiple parts at once and go back and forth before the tender is issued but there is a typical order.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Supply Chain Game Changer

MAY 27, 2022

As per the latest reports, the crypto bill for which everyone has been waiting for a lot of time has a rare possibility to be a part of the 2022-23 budget session. The post The Crypto Bill and India’s Budget! It is a matter of concern, and therefore, The government needs to launch the new cryptocurrency bill as soon as possible.

supply chain budgeting 95

supply chain budgeting Budget Supply chain Supply 95

ivalua

NOVEMBER 10, 2020

Innovating to Uncover New Sources of Revenue in the Public Sector. Step 1: Use eProcurement Systems as a Potential Source of Revenue. Thinking of procurement as a new source of revenue is certainly counterintuitive, but it fits the bill of thinking differently. 11 state central procurement offices have other sources of funding.

Sourcing 130

Sourcing Eprocurement Real-time Visibility Contract 130

ivalua

JANUARY 13, 2021

– Spend control through real-time visibility into budget consumption, negotiated prices, preferred suppliers, engagement channels. Users only see information that is relevant to them, i.e. Requisitioners see expected delivery dates, Managers their budget consumption, Accounts Payable their pending invoices.

Eprocurement 235

Eprocurement Real-time Visibility Purchase orders Budget 235

ivalua

SEPTEMBER 28, 2020

The Purchase Order has been touted as the only way to manage ‘maverick’ spend (stopping off budget expenditure), but it’s also a way to automate invoice processing. Surely with the convergence of the procurement silo’s into the one Source-to-Pay journey, Ivalua could make the impossible come true for Accounts Payable – and we have!

supply chain budgeting 237

supply chain budgeting Purchase orders Networking Buyers 237

ivalua

FEBRUARY 25, 2021

For example, a single-stack approach can lead to low user adoption, because the incumbent sourcing solution, for example, fails to meet the needs of various business units. . In fact, 74% of ERP implementations go Over Budget and they take longer to roll out. What is the benefit of using a single source to pay solution?

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

ivalua

JULY 6, 2020

Some will look to outside sources for solutions and inspiration, whereas some tap into the knowledge that exists within the organization. With the base platform already implemented, the organization could easily expand its capabilities as time and budget allows. Innovation is a difficult subject for many organizations.

Innovation 246

Innovation Bidding Budget Suppliers 246

Spend Matters

FEBRUARY 5, 2025

Low adoption rates: Technologies like e-sourcing have been available for years, yet adoption among companies sits at around 60%-70%. Technology alone cannot deliver change without a clear purpose (or meaning or why). And this can look even worse when considering the supplier side of the equation. Lets explore these aspects.

Procurement 103

Procurement Change management Strategy supply chain budgeting 103

Spend Matters

JUNE 5, 2023

Categories: Procurement Systems & Architecture , Source to Pay Tags: PRO In this Spend Matters Vendor Analysis, we provide an overview of ebidtopay and its source-to-pay solution. The S2P process is complex and hard to track due to the number of systems, steps and departments involved. Read more. )

Market analysis 98

Market analysis Sourcing Budget Buyers 98

ivalua

SEPTEMBER 13, 2020

For organizations, this means employees can easily and quickly buy all the goods and services need from preferred contracts, ensures they stay within budget and work with required approvals. Buying at negotiated prices and within budget. Benefits: 100% of spend analyzed; 2000 sourcing events executed. Case in Point.

e2e 204

e2e Procurement Budget Contract 204

SCMDOJO

DECEMBER 14, 2023

In the global world of businesses, companies often seek help from sourcing agencies to figure out how to get the things they need. But what’s a sourcing agency or sourcing agent and how does it make buying things easier? Let’s explore this world of sourcing agencies and understand what they do.

Sourcing 104

Sourcing Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain 104

Skill Dynamics

JANUARY 14, 2025

A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation. Core Competencies in the Procurement Framework Sourcing Involves identifying and evaluating the best suppliers to secure high-quality goods and services.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

IBM Supply Chain Blog

SEPTEMBER 27, 2023

There are two types of these generative AI models: proprietary large language models and open source large language models. On the other hand, open source LLMs are free and available for anyone to access, use for any purpose, modify and distribute. What are the benefits of open source LLMs?

Sourcing 91

Sourcing Risk Data Ethics 91

Procurement Tactics

OCTOBER 18, 2022

Many companies benefit from the software as it offers improved visibility into the supply chain and enables cost traceability for enhanced budget management. . It is a unified procurement platform that helps companies in driving efficiency for direct and indirect procurement designed to automate all source-to-pay processes.

Supplier relationship management 181

Supplier relationship management supply chain software solutions Suppliers Management 181

Spend Matters

FEBRUARY 25, 2025

For example, many reports show that the adoption of e-sourcing by best-in-class companies has stagnated at 60% – 70% since 2007. Sourcing alone involves the many and often manual processes for RFxs, like RFIs, RFPs, RFQs, etc. However, adoption (by teams, by stakeholders, by suppliers) is not a reality for most organizations.

Real-time Visibility 106

Real-time Visibility e2e Procurement Negotiation 106

Planergy

FEBRUARY 24, 2025

This involves consulting educators, administrators, and department heads to identify specific needs, performance expectations, and budget constraints. Though it makes budgeting a bit more complex , its often worth it. This improves the purchasing power of the group compared to the individual.

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

Procurement Tactics

MARCH 16, 2023

It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. Strategic Sourcing Strategic sourcing assesses the patterns of business spending in order to find and choose the best suppliers that align with your business goals and objectives. Why is it important?

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Jaggaer

MARCH 7, 2025

The UAE, a leader in government digitalization, continues to set new benchmarks by integrating AI-powered procurement solutions that streamline sourcing, supplier management, and contract execution. But what does the future hold for public procurement, and how can technology fine-tune the process to perfection?

Supply Chain Efficiency 52

Supply Chain Efficiency Real-time Visibility Procurement Supply Chain Optimization 52

Procurement Tactics

DECEMBER 6, 2022

Although spend management is commonly executed by procurement, it impacts many internal and external stakeholders of a company concerned with budgeting and planning the company’s future profitability. . Just like budgeting at home, a household allocates a budget in which spending and savings are addressed for the full month.

Spend management 172

Spend management Management Real-time Visibility Budget 172

SCMDOJO

FEBRUARY 26, 2025

Procurement Cost Efficiency CPI can track procurement cost efficiency by comparing budgeted vs. actual spending on raw materials and supplies. indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. The CPI calculation would be: CPI =100,000/120,000 = 0.83. A CPI of 0.83

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Raw materials 52

Procurement Tactics

JANUARY 12, 2023

In procurement, many companies freelance procurement professionals to support or help them optimize their sourcing and procurement processes. Additionally, if you are going to search online for freelance procurement professionals, you must have a budget for it. Sourcing Specialist. Common Jobs Mostly Freelanced in Procurement.

Procurement 187

Procurement Raw materials Sourcing Suppliers 187

Procurement Tactics

JULY 2, 2023

Budget Control When it comes to maintaining budgetary control throughout the entire procurement process, job orders are crucial. Managers and businesses may be able to monitor their expenditures in comparison with the approved and allocated budget by indicating expected costs and financial parameters in a job order. A clear budget 4.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

Spend Matters

FEBRUARY 27, 2025

If all you have is an ERP system and no budget, you have to make the most of what you have, and Ive seen this in some companies. Even though the AI and automation tools of today can make it an easier exercise providing you have the budget its crucial that you get your data in order first. Dirty data will only sabotage your mission.

Procurement 66

Procurement Real-time Visibility Change management Data 66

Procurement Tactics

JUNE 28, 2023

Budget and Cost Control Procurement expenditures, monitoring variations in the cost and identifying opportunities for savings, and avoiding unnecessary costs shall be monitored in accordance with the approved budget. It also has a great budgeting toolkit that simplifies the planning and management of expenses.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Spend Matters

FEBRUARY 26, 2025

The lines between these two critical functions are often blurred, which could lead to potential misalignments in budget planning, compliance and operational goals. However, one of the significant challenges in public sector procurement is understanding where Procurement ends and Finance begins and vice versa.

Procurement 109

Procurement Bidding Contract management Data 109

ivalua

AUGUST 28, 2019

82% of respondents to a recent Forrester survey on Executing a Successful Procurement Transformation had switched their technology or plan to switch during that transformation, a costly effort in terms of budget and time. Executive support is key and directly correlated to obtaining sufficient budget. Yet far too many struggle.

Procurement 154

Procurement Budget Leadership Suppliers 154

Spend Matters

DECEMBER 22, 2023

In traditional sourcing or intake platforms, it seems the adoption and NPS significantly reduces the more clicks a business user needs to make. You don’t want to be prompted to input a budget or confirm a customer sub-category. We’re actually taking this a step further and thinking about the ‘value per click’ or ‘value per keystroke.’

Procurement solutions 106

Procurement solutions supply chain budgeting Procurement Budget 106

ivalua

AUGUST 5, 2020

Line level multi-tax treatment and budget allocation templates that reduce effort. Unlike traditional Invoice automation, Invoice to Pay has the data needed within the platform, either as part of a complete Source to Pay service or through plug & play connectors linked to the ERP or Finance application.

Budget 130

Budget Buyers Purchase orders Collaboration 130

Supply Chain Dive

AUGUST 8, 2023

Persistent labor shortages and inflation have led initially budgeted project costs to increase from the agreed upon price, one source told K-12 Dive.

supply chain budgeting 98

supply chain budgeting Budget Supply chain Price 98

Procurement Tactics

SEPTEMBER 2, 2022

Cost avoidance is not something that you can see or measure in the financial statements or budget of the organization. . Cost savings are reflected in both the financial statements and the budget of the company, unlike cost avoidance. Price negotiations are another area where procurement can make a huge difference in the budget.

Budget 130

Budget Price negotiations Negotiation Price 130

Skill Dynamics

FEBRUARY 4, 2025

Strategic Sourcing and Supplier Relationship Management Strategic sourcing skills are crucial for procurement professionals to effectively identify and then leverage opportunities within the supply base to create value. Strategic sourcing can also help reduce the overall risk in a given supply chain.

Procurement 59

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 59

Procurement Tactics

AUGUST 25, 2022

Trillion budget. . He has been with Fannie Mae, the Federal National Mortgage Association, for nine years where he currently leads the strategic sourcing and category management group addressing a $5 billion spend portfolio. . This course is a perfect fit for ambitious procurement & sourcing professionals. Jan Francis.

Procurement 231

Procurement Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 231