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. Today's buying process begins on the internet. Buyers want to know as much about you as they can to help answer these questions: Are you reliable?

Buyers 64

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

Arkestro

MARCH 13, 2023

Thomas Perkins – Purchasing Manager The Challenge Create a more efficient RFQ process for large-scale mining equipment & identify cost-savings opportunities To power its production, Searles Valley Minerals needs to source a large quantity of equipment such as 6 miles worth of pipe, in addition to valves and fittings.

Bidding 52

Bidding Procurement Buyers Buying process 52

Claritum

OCTOBER 30, 2017

These organisations range from small businesses providing a simple buying service, BPOs managing an outsourced purchasing service through to global multinationals with hundreds of sourcing professionals across many continents and a wide range of service offerings. Inefficient buying processes. The one thing we consistently find?

Buying process 32

Buying process Bidding Buyers Competitive bidding 32

Procurement Insights

OCTOBER 26, 2023

Maverick spend was not the result of obstinate buyers refusing to use the “new system.” The problem was that the expected “sustainable” savings to justify the investment never materialized because buyers knew they could usually get a better deal from a trusted, non-contracted supplier.

Change management 69

Change management Management Contract Buyers 69

SCMDOJO

DECEMBER 14, 2023

From selecting shipping methods to managing customs clearance, the process can be complex. Sourcing agencies excel in handling these intricacies, ensuring a smooth and efficient flow of products from supplier to buyer. READ MORE ON : “7 Step Strategic Sourcing Process- Proven & Practiced” at our website SCM DOJO!

Sourcing 104

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

The Thomas Blog

JULY 11, 2022

We are excited to share the launch of the Industrial Buying Engine, a unified solution for you to connect with, evaluate, and buy from more than 10,000 top suppliers in the USA and Canada within one powerful ecosystem. Buy: Expedite The Buying Process With Our New In-Platform Check-Out Tools.

Sourcing 52

Sourcing Buying process Suppliers Buyers 52

The Thomas Blog

APRIL 30, 2024

However, BANT comes up lacking in complex sales scenarios where multiple stakeholders are involved or when the buying process extends over a long period. MEDDIC stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion. It stands for Funds, Authority, Interest, Need, and Timing.

Import 52

Import Budget Purchasing Buyers 52

Supply Chain Game Changer

SEPTEMBER 29, 2020

Buyers historically purchased materials in a very indistinguishable manner. The vanilla approach to purchasing meant that we were applying a lot of buying processes generically to our great disadvantage even though the 80/20 rule could have been applied. We established an “A” Class Buying team.

Inventory 90

Inventory Raw materials Supply Chain Optimization Demand 90

The Procuretech Podcast

SEPTEMBER 14, 2021

Stakeholders and local buyers then just continue doing whatever they've always done! The "self-service" model for tactical purchasing and one-time buys. Stakeholders and local buyers then just continue doing whatever they've always done!

Management 52

Management Procurement team Contract Purchasing 52

Supply Chain Game Changer

JANUARY 21, 2020

Below I’d like to take a deeper dive into 3 particular processes in modern procurement, that are increasingly hot topics, but are causing confusion and ambiguity; especially considering they are processes that are becoming heavily impacted by emerging technology. But, is it?

Procurement 87

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 87

Procurement Software

OCTOBER 3, 2023

Missing goods receipt or PO acknowledgements Having a long tail of non-strategic, transactional suppliers will typically increase the amount of time that is spent by an Operational Buyer or a Stores Operator chasing Goods Receipts (GRs) or POAs from suppliers. Get your team to log the number of hours they spend on non-added-value work.

Supplier consolidation 59

Supplier consolidation Suppliers Procurement Category management 59

Arkestro

JUNE 25, 2024

With millions of line item buys happening at any given time, buyers are presently unable to keep up with the scale of operations and impact outcomes. Automating buy processes including negotiations with predictive procurement has the potential to yield massive impact in savings, efficiency, and scale.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Innovation Supply chain 52

Supply Chain Game Changer

NOVEMBER 24, 2018

With the explosion of internet users, particularly mobile, many buyers prefer the experience of purchasing over the internet and over their smartphones. Many buyers are familiar with the frustration of losing their wish lists and carts when they choose to continue their buying process on another device.

Buyers 43

Buyers Purchasing Data Price 43

Claritum

SEPTEMBER 1, 2020

The importance of Buyer Portals. Difficulties with buying within your organisation are often associated with the use of inappropriate user-facing technology. Fundamentally it is because there is no Buyer Portal. There is a “purchasing system” and a “process”, however, there is no user-centric access to this. Introduction.

Eprocurement 32

Eprocurement Buyers Purchasing Purchase orders 32

Procurement Software

MAY 16, 2023

Onventis Onventis provides a Procure-to-Pay module for buyers that streamlines the procurement process from purchasing to payment. Procurify aims to simplify buying processes while providing insights into company-wide spending trends to help identify cost-saving opportunities.

Procurement 96

Procurement Purchase orders Real-time Visibility Purchasing 96

Shapiro Negotiations Institute

JULY 3, 2023

The hard sell approach strategically uses direct and assertive tactics to successfully direct buyers toward making prompt purchase decisions. Avoiding competitors: A hard sell’s urgency and aggressiveness might help buyers feel exclusive and pick your good or service over rivals.

Negotiation 40

Negotiation Strategy Purchasing Buyers 40

Shapiro Negotiations Institute

JULY 3, 2023

The hard sell approach strategically uses direct and assertive tactics to successfully direct buyers toward making prompt purchase decisions. Avoiding competitors: A hard sell’s urgency and aggressiveness might help buyers feel exclusive and pick your good or service over rivals.

Negotiation 40

Negotiation Strategy Purchasing Buyers 40

Positive Purchasing

DECEMBER 6, 2023

This dialogue is becoming part of our buying process, where we need to understand the impact of our decisions on people and the environment, then take joint actions to actually drive improvement. We do have a range of training programs in place, starting with onboarding for new buyers. Katharina: Absolutely.

Sustainability 64

Sustainability Price Supply Chain Efficiency Agile and Lean Supply Chain 64

Supply Chain Game Changer

JANUARY 30, 2020

The company had already taken the step of centralizing global buying in China which was great because there was just one single team that bought everything. However review of the buying process showed that all parts were treated the same. We created an “A Class” Buying team. Work In Process.

Inventory 61

Inventory Agile and Lean Supply Chain Supply Chain Optimization Replenishment ordering 61

Zycus Cognitive Procurement

FEBRUARY 8, 2022

Consider yourself as a buyer with a need of some office supplies at your global headquarters; AI can assist your sourcing and procurement teams at every touchpoint in the procurement lifecycle, simplifying the buying process in the following ways-. So how does AI help solve the procurement puzzle ? . 1 ) AI-Assisted Sourcing.

Procurement 40

Procurement Real-time Visibility Contract management Bidding 40

Claritum

MAY 20, 2019

The first step in automating procurement, in any organisation, is understanding the requirements of the people within your organisation who actually instigate the buying process – the users within departments throughout your organisation. They, combined with your Category Specialists, are the process experts. 1 Expertise.

Procurement 32

Procurement Real-time Visibility Eprocurement Bidding 32

Supply Chain Game Changer

MAY 8, 2019

Below I’d like to take a deeper dive into 3 particular processes in modern procurement, that are increasingly hot topics, but are causing confusion and ambiguity; especially considering they are processes that are becoming heavily impacted by emerging technology. But, is it?

Procurement 50

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 50

Procurement Software

FEBRUARY 20, 2024

The platform offers trusted collaboration between buyers and vendors, based on a fully transparent, real time single source of truth. trueLedger automates procure-to-pay (P2P) and order-to-cash (OTC) processes, with zero manual intervention in invoice processing, accounting and payments​.

Supply Chain Efficiency 59

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

Procurement Software

MAY 28, 2024

Enabling stakeholders to buy their own stuff both improves their experience of the buying process, as well as freeing up procurement’s time to perform more added value activities. As long as the suppliers, pricing and commercial terms have been approved by a Buyer, let the requisitioner serve their own needs.

Procurement 52

Procurement Category management Procurement team Real-time Visibility 52

Claritum

JANUARY 25, 2019

Claritum believes that most organisations with a turnover over £10m can benefit from automation of the buying process and will see a positive net gain from the investment. Let your employees buy from catalogues, as opposed to trying to employ additional scarce buyers to handle transactional purchases.

Supply chain management 36

Supply chain management Supply chain management Supply Chain Efficiency Supply chain 36

Supply Chain Game Changer

NOVEMBER 16, 2018

The company had already taken the step of centralizing global buying in China which was great because there was just one single team that bought everything. However review of the buying process showed that all parts were treated the same. We created an “A Class” Buying team. Work In Process.

Inventory 43

Inventory Agile and Lean Supply Chain Supply Chain Optimization Replenishment ordering 43

Procurement Software

JULY 18, 2023

Specific and sustainable supplier catalogues are included, allowing users to benefit from Hivebuy’s bulk buyer conditions. Its software aims to connect stakeholders and expedite the buying process, with focus on more complex project procurement for one-time spend. This enables teams to make decisions and remain in control.

Purchasing 52

Purchasing Contract Negotiation Real-time Visibility 52

HICX

JULY 4, 2022

Fundamentally, suppliers and buyers already have a solid relationship, but it needs to be nurtured. It’s then that the real work begins, with onboarding, invoicing, dealing with purchase orders, payments, communications, and so on,” he explains. Both sides must ask themselves ‘Are we driving the needs of the business?’

Procurement 52

Procurement Chief Procurement Officer Supplier relationship management Suppliers 52

Spend Matters

FEBRUARY 4, 2025

By analyzing past purchasing activities you can iterate on process improvements and ensure your new process is built on a solid foundation to quickly earn buy-in from employees and stakeholders. With more buyers come more spend categories to capture and oversee.

Procurement 103

Procurement Purchasing Negotiation Buying process 103

Spend Matters

FEBRUARY 19, 2025

Now, ethical financing for purchases and investments plays a role in the buying process. Carbon management solution providers can help to identify pain points along the value chain and provide intelligence on specific supply chains and vendors. As the market continues to change, so too do stakeholders, investors and customer demands.

Sustainability 102

Sustainability Supply Chain Efficiency Ethics Market analysis 102