Una

AUGUST 17, 2022

It's decentralized by buyers in the business (not procurement people). It consists of high-volume (80% of suppliers) but low-value transactions (20% of total spend). That isn’t to say that sub-threshold purchases are completely uncontrolled. The transactions are under the spend threshold. Unlock hidden savings.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

Jaggaer

OCTOBER 24, 2024

Pressuring suppliers to cut prices often leads to reduced quality or service levels, which may result in costly product recalls, lost customers, or damage to the company’s reputation. By building trust and transparency, procurement leaders can work with suppliers to achieve cost savings that are sustainable and equitable.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Una

FEBRUARY 22, 2023

How to Use GPOs as a Cost Savings Strategy Discover how procurement leaders can join a GPO and use group purchasing as a cost savings strategy to deliver continued value. Joining a group purchasing organization (GPO) is like gaining access to a whole new level of cost savings that was potentially out of reach before.

Strategy 52

Strategy Purchasing Supply Chain Efficiency Supplier consolidation 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. Regardless of your position or situation it is highly valuable to understand the type of interview questions, and answers, appropriate for Procurement and Purchasing professionals. Subscribe Here! Email Address.

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

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. Purchasing is more transactional and tactical. Purchasing focuses specifically on the buying transaction.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Planergy

JANUARY 19, 2023

This is an example of how the Pareto Principle can be applied to spend analysis; by focusing your efforts on reducing costs associated with stationery purchases, you could potentially save more money than if you were trying to reduce all office supply costs equally. How Pareto Analysis Works?

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Empowering CPO

JUNE 27, 2023

This transformative practice enables organizations to delve deep into their purchasing data, gaining invaluable insights that can revolutionize their supplier relationship management (SRM) strategies. It enables organizations to identify potential savings, negotiate better pricing, and implement cost-effective procurement strategies.

Supplier relationship management 52

Supplier relationship management Suppliers Management Negotiation 52

The Procuretech Podcast

OCTOBER 5, 2021

Finding a more productive use of buyers' time when it comes to the huge operational workload of dealing with non-strategic spend will no doubt be high on the wish list. Here, essentially, stakeholders can purchase from whomever they wish. Tactical vs. tail spend? Diligence with which a policy is enforced. Useful Links. Lhotse website.

Competitive bidding 40

Competitive bidding Bidding Buyers Procurement 40