Procurement Insights

FEBRUARY 18, 2025

Lack of Integration Between Systems Issue: AI-powered procurement solutions require seamless connectivity between ERP, supplier databases, and sourcing tools. Example: A company adopts an AI-powered contract management tool , but it doesnt integrate with their sourcing or invoicing system , creating inefficiencies.

Procurement team 52

Procurement team Procurement solutions Contract management Quality 52

Supply Chain Game Changer

MAY 26, 2020

Less enlightened organizations still think of Procurement as a back office function processing transactional purchase orders and standard contracts. But better informed and leading organizations see and recognize Procurement for its strategic value. What actually is the power that is within Procurement’s mandate?

Procurement 105

Procurement Purchase orders Supply Chain Optimization Ethics 105

The Good Spending

APRIL 2, 2023

As part of category planning, procurement will prepare the contract management plan to identify valid multi-year contracts and upcoming contract renewals. Category requirements and a contract management plan will be instrumental in supply planning. My Udemy course "Value-based Procurement."

Procurement 98

Procurement Demand Planning Budget Category management 98

Procurement Insights

AUGUST 14, 2024

The Impact on Customers: A Three-Tiered Approach The uncertainty surrounding an acquisition can be unsettling for customers, especially those whose contracts are nearing renewal, who have recently signed up, or who are evaluating new vendors. Procurement leaders must approach this new reality with a strategic mindset.

Procurement 98

Procurement Vendor relationships Innovation Leadership 98

SCMDOJO

SEPTEMBER 18, 2023

In supply chain management, acquisition typically implies a more comprehensive and strategic approach, often involving negotiations, contracts, and sometimes mergers or partnerships. It is a transactional aspect of procurement that involves selecting the best offer based on factors such as price, quality, and delivery terms.

Procurement 105

Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 105

The Good Spending

MAY 13, 2024

" One of the worst and most expensive contracting fiascos in the history of the public sector." When the then Health Secretary John Reid announced the contract winners in December 2003, the value of the contracts had already shot up to £6.2 CSC quickly took on both Accenture contracts, tripling its involvement in the program.

Procurement 64

Procurement Contract Stakeholder engagement Negotiation 64

Barkers Procurement

OCTOBER 2, 2023

Why A Procurement Managed Service Can Transform Your Business Procurement is about more than just acquiring goods and services at the right time and at the best price for your business. You have to plan your procurement and align it with the overarching goals of the organisaton.

Management 52

Management Procurement Contract Contract management 52

The Good Spending

DECEMBER 14, 2023

Contract management should be exercised continuously. Contract Terms and Renewals Clarity on contract terms, renewal conditions, and exit strategies is imperative. Negotiations focus on fair renewal pricing, termination clauses, data migration, continuity plans upon contract expiration, and transition support.

Negotiation 59

Negotiation Procurement Contract Price 59

Jaggaer

JUNE 28, 2024

Despite the improved economic outlook, half of procurement and finance professionals report that inflation, recession risk, and monetary policy changes are having a major or severe impact on their business.

supply chain budgeting 52

supply chain budgeting Supply chain management Supply chain management Agile and Lean Supply Chain 52

The Good Spending

JANUARY 3, 2024

Businesses can select from software solutions tailored to their specific needs without physical ownership constraints of long-term capital commitments. We no longer buy physical objects but unique services that require a custom approach, even upon contract signature and renewal with the same vendor. My Udemy course "Procurement Lab."

Negotiation 59

Negotiation Contract Price Sourcing 59

World of Procurement blog

JANUARY 19, 2022

With solutions such as Tealbook , which creates a supplier data foundation that isn’t dependent on a supplier going into a portal and updating information, we will see a shift in procurement teams opting for options such as this. Do our contracts cover who does what with the data (e.g That’s vital. However, it goes deeper than this.

Agile and Lean Supply Chain 52

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

Una

NOVEMBER 30, 2022

81% believe more internal support is needed from within their businesses to realize digital transformation fully. And 50% aim to move to a business procurement-centric organization , acting as advisory consultants and business partners rather than executing routine processes. We invite you to reach out to us.

Procurement 97

Procurement Supply Chain Efficiency Supply Chain Optimization Supply chain 97

Una

MAY 2, 2023

The basics of small business procurement “Realistically, a company should consider putting formal procurement in place as they scale up, [although] scaling up could mean different things for different businesses.” says Chandhrika.

supply chain software solutions 78

supply chain software solutions Procurement Supply chain Sourcing 78

The Good Spending

JANUARY 13, 2024

SaaS demand management can help procurement identify cost savings opportunities, boost efficiency, and reduce risk. These benefits can help companies maximize their SaaS investments and improve their procurement processes. Contract management. Indeed, we meant the contract management before SRM. Vendor partnership.

Contract management 59

Contract management Negotiation Contract Demand 59

Una

JUNE 22, 2023

Taking an Advisory Approach to Procurement An inside look at how Una, the nation’s fastest growing group purchasing organization, works to take an advisory approach to procurement. At Una, we view ourselves as an extension of your procurement team and are here to educate, advise, and enable your success.

Procurement 52

Procurement Purchasing Procurement strategies Procurement team 52

Pipefy

FEBRUARY 13, 2023

Source-to-pay (also known as S2P) is a process within procurement that encompasses activities associated with business and supplier interactions. S2P begins much earlier than P2P within procurement and encompasses many additional steps than P2P. At this point, the procurement team now takes control of the process.

Sourcing 52

Sourcing e2e Purchase orders Bidding 52

The Good Spending

JANUARY 8, 2022

Routines as truce Intuitively, our area of interest is when procurement and stakeholders tend to establish the truce. Nelson and Winter suggested that the routine as a truce serves as an informal contract between individual motivations and organizational needs. My Udemy course "Procurement Lab."

Procurement 52

Procurement Contract Sourcing Demand 52

Zycus Cognitive Procurement

DECEMBER 15, 2022

Integrating flexible contracts. With the right analytics tools and strategies in place, businesses can gain a significant competitive edge in today’s fast-paced business landscape. Integrating flexible contracts: . Here are the 7 supply chain management trends for 2023 – Building agile supply chain ecosystems.

Supply chain management 52

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Optimization 52

Pipefy

MAY 23, 2023

Document management Digital contract management should be included in any e-procurement tool; it’s that important. The feature allows procurement teams to monitor and control a contract’s lifecycle, access previous versions, and keep documents up-to-date for everyone involved. Risk reduction. Life cycle management.

Procurement solutions 52

Procurement solutions Procurement e2e supply chain software solutions 52

Barkers Procurement

JUNE 21, 2023

A BSM platform removes user error, shining a spotlight on this area of the business. Improved reporting facilitates planning and execution of sourcing events, reducing time spent by the procurement function. And increased self-serve processes reduces time spent on tactical aspects of managing contracts.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Budget Procurement team 52

World of Procurement blog

APRIL 23, 2024

By leveraging technology, it helps businesses manage their purchasing activities through electronic methods. Its functionalities range from supplier management, purchase order management, invoice management, spending analysis, to electronic tendering, and contract management.

supply chain software solutions 52

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

World of Procurement blog

APRIL 23, 2024

By leveraging technology, it helps businesses manage their purchasing activities through electronic methods. Its functionalities range from supplier management, purchase order management, invoice management, spending analysis, to electronic tendering, and contract management.

supply chain software solutions 52

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

Empowering CPO

JULY 17, 2023

Introduction Brief Explanation of the Role of Procurement in Businesses Procurement is the lifeblood of any business, large or small. It’s the complex process through which businesses source and acquire the goods and services they need to operate and grow.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Supply Chain Optimization 52

Barkers Procurement

NOVEMBER 15, 2023

Optimising your procurement department When it comes to optimising a procurement department of any size, the strategic alignment of the procurement with the strategic goals of the business is essential. This is a fundamental part of our approach to optimising procurement within any business.

Procurement 52

Procurement supply chain budgeting Business strategy Strategy 52

The Good Spending

DECEMBER 25, 2021

Therefore, parties to the economic exchange may seek to take advantage of each other, and bounded rationality would prevent them from including all relevant contingencies in their contracts. As suggested in the slide above, SRM, e-procurement, and online buying could offer diverse solutions. By all means, this list isn't exhaustive.

Sourcing 52

Sourcing Bidding Contract Procurement 52

Pipefy

MAY 9, 2023

Contract compliance rate Before the advent of business process management (BPM) software, businesses relied almost solely on audits for information on suppliers’ adherence to the standards of their contracts. Most importantly, once a contract has been signed, performing regular audits.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

Procurement Software

FEBRUARY 20, 2024

Weproc offers features for: Procurement Management Product Management Contract Management Supplier Management Budget Management Accounting Basic Analytics Weproc also aims to put user experience first. It leverages AI to consistently check that your telecoms and IT contracts actually match your current requirements.

Supply Chain Efficiency 59

Supply Chain Efficiency supply chain software solutions Procurement Real-time Visibility 59

The Good Spending

DECEMBER 13, 2021

Tail spend starts with the best intention to satisfy the business needs quickly and returns a handful of residual problems: non-contracted or generally non-compliant spend; a high volume of transactions; a high labor cost to the company, as each transaction requires reconciliation, processing, acceptance of goods, etc.

Buyers 52

Buyers Quantity Procurement Contract 52

The Good Spending

JUNE 15, 2022

Perhaps, it makes sense to optimize our legacy procurement toolkits through relationship-based upgrades. My Udemy course "Procurement Lab." My Udemy course "Foundations of Contracts and Outsourcing." My Udemy course "Adaptive Sourcing: Agile Procurement in Practice."

supply chain budgeting 52

supply chain budgeting Buyers Agile and Lean Supply Chain Supply Chain Optimization 52

The Good Spending

SEPTEMBER 25, 2024

My Udemy course "Value-based Procurement." My Udemy course "Procurement Lab" My Udemy course "Foundations of Contracts and Outsourcing." My Udemy course "Adaptive Sourcing: Agile Procurement in Practice." More information on this and other exciting topics can be found in "The Technology Procurement Handbook."

Procurement 59

Procurement Sourcing Contract Price 59

Procurement Insights

SEPTEMBER 30, 2024

However, when introduced at the right time, technology did accelerate and expand the capabilities of the procurement team to the point that within 18 months, the FTE requirement was dramatically reduced, while delivery performance improved from a 51% next-day SLA to a contract-compliant 97% next day.

Supply chain resilience 52

Supply chain resilience Supply chain Procurement team Contract 52

HICX

DECEMBER 15, 2022

David is a procurement practitioner who has spent nearly twenty years working in a number of organizations both in the public and private sectors. After gaining experience, David went on to establish his own business, Procurated , which connects public sector buyers with peer-reviewed suppliers.

Procurement 52

Procurement supply chain software solutions Real-time Visibility Suppliers 52

Procurement Software

OCTOBER 1, 2024

But without the basics, your team is like a sailing crew without a compass.

Procurement 52

Procurement Procurement team Real-time Visibility Influencing 52

Una

JUNE 6, 2024

One powerful way procurement can contribute is through intentional supplier selection and management. By prioritizing local and minority-owned businesses , procurement can ensure that a company’s economic impact stays within the community.

Procurement team 52

Procurement team Ethics Suppliers Procurement 52

The Good Spending

OCTOBER 16, 2023

My Udemy course "Value-based Procurement." My Udemy course "Procurement Lab." My Udemy course "Foundations of Contracts and Outsourcing." My Udemy course "Adaptive Sourcing: Agile Procurement in Practice." More information on this and other exciting topics can be found in "The Technology Procurement Handbook."

Negotiation 59

Negotiation Buyers Price Quality 59

Barkers Procurement

DECEMBER 5, 2024

The level of investment that Sunbelt Rentals undertook was significant, with the business opting for Coupa’sfull end-to-end solution. To drive this change, the project was broken down into three phases: Phase 1: Source to Contract Stage Phase 2: Purchase to Pay Stage Phase 3: Inventory and Reporting Stage.

supply chain software solutions 52

supply chain software solutions e2e Purchase orders Supply Chain Efficiency 52

The Good Spending

JUNE 14, 2024

My Udemy course "Value-based Procurement." My Udemy course "Procurement Lab." My Udemy course "Foundations of Contracts and Outsourcing." My Udemy course "Adaptive Sourcing: Agile Procurement in Practice." More information on this and other exciting topics can be found in "The Technology Procurement Handbook."

Procurement 59

Procurement Influencing Ethics Sourcing 59