Spend Matters

JANUARY 9, 2024

This might be for small use cases like replacing Google when we have a question or more advanced cases like supporting category managers in the buying process. But before we get to that point, many procurement leaders are currently trying to unpack the issues with the technology.

Procurement 106

Procurement Buying process Category management Suppliers 106

SCMDOJO

DECEMBER 14, 2023

Sourcing Agency A sourcing agency is like a helpful middle person between the people buying things and the ones selling them. These agencies are experts at finding good suppliers, talking about fair deals, and making sure everything gets to where it needs to be. It makes the job of getting goods and services easier.

Sourcing 104

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

Spend Matters

OCTOBER 4, 2024

TPRM is a huge opportunity right now, as document-centric approaches die when they reach the scale needed to perform supplier management (i.e., management of risk, compliance, performance, onboarding speed and supplier collaboration that respects/accommodiates supplier requirements) with fine-grained operating models.

Sustainability 112

Sustainability Spend management Real-time Visibility Supply Chain Optimization 112

Supply Chain Game Changer

AUGUST 26, 2021

Buyers and expeditors alike tend to place Purchase Orders with suppliers and then check the box as if the task is complete. Supplier Receipt and acknowledgement ?Supplier Supplier Receipt and acknowledgement ?Supplier Supplier pulls from stock ?Shipment PO Placement ? Shipment to customer. “C” PO Placement ?

Supply Chain Visibility 103

Supply Chain Visibility Real-time Visibility e2e Agile and Lean Supply Chain 103

SCMDOJO

DECEMBER 11, 2023

Access to data on supplier performance, market trends, and cost analyses enables leaders to optimize procurement strategies for improved efficiency and effectiveness. Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction.

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

Procurement Tactics

AUGUST 29, 2022

Author of three books, her work covers every step of the buying process that equipped readers with effective strategies for both the short and long term. As a procurement manager, he had to deal with 1,500 different products delivered by lots of suppliers every year. Linda Swindling.

Negotiation 130

Negotiation Influencing Strategy Leadership 130

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. Supplier Relationship Management. Source: CIPS.

Procurement 87

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 87

The Thomas Blog

AUGUST 15, 2022

Data shows that industrial buyers are typically 70% of the way through their purchase decision process before reaching out to a supplier. An interactive product catalog can also streamline the buying process by integrating eCommerce for direct online purchasing.

Buyers 143

Buyers Real-time Visibility Purchasing Strategy 143

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. Connect: Centralize Supplier Communication Through Messaging. With this new platform, you can: 1.

Sourcing 52

Sourcing Buying process Suppliers Buyers 52

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

Procurement Software

MAY 16, 2023

Onventis Onventis provides a Procure-to-Pay module for buyers that streamlines the procurement process from purchasing to payment. The software automates workflows and approvals, manages supplier catalogues, and provides real-time analytics for better decision-making.

Procurement 96

Procurement Purchase orders Real-time Visibility Purchasing 96

Una

SEPTEMBER 22, 2022

Procurement, however, makes a strong case for managing IT purchasing because sourcing professionals are the experts when it comes to managing and reducing costs , implementing best practices, and mitigating risk throughout the buying process. Compile Supplier List. Process and Complete Payment. Focus on data.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Procurement Express

FEBRUARY 28, 2022

One of the things we’ve learned is the importance of choosing the right supplier, and a key aspect of that decision is knowing what kind of request you need to make. All requests have a shared purpose: getting information from your potential supplier. This type of proposal is used to close the deal with a supplier.

Price 52

Price Suppliers Buying process Contract 52

Procurement Insights

OCTOBER 26, 2023

based customers who have contracted vendors, 33 percent of all purchases were from non-contract suppliers. ” It was the recognition that the prescribed policies regarding the suppliers they could deal with contradicted best-value decision-making. According to their research, of the 45 percent of “their membership’s U.S.-based

Change management 69

Change management Management Contract Buyers 69

Claritum

OCTOBER 30, 2017

Inefficient buying processes. Often, there’s no one defined buying process, and the larger, more complex the business is, the more variety there is in process. On average businesses that automate buying processes can save 56% of their buyers time. Figure 1: Claritum Buying Process Survey.

Buying process 32

Buying process Bidding Buyers Competitive bidding 32

Claritum

NOVEMBER 16, 2018

Focus Procurement on supplier optimisation. The focus should be on automating the buying process from a user/departmental perspective. The user needs to focus on the specific details of any purchase: if procurement is involved, in a direct line in the process, this will be a very inefficient purchase process.

Procurement 69

Procurement Procurement team Supply Chain Efficiency Purchasing 69

The Procuretech Podcast

SEPTEMBER 14, 2021

Historically, there wasn't much technology out there to deal with indirect services spend, both from a sourcing and supplier contract lifecycle management perspective. But is it possible to manage both strategic, corporate level service agreements as well as more tactical, tail spend and one-time buys all in the same platform?

Management 52

Management Procurement team Contract Purchasing 52

The Thomas Blog

JUNE 22, 2022

Today's buying process begins on the internet. Some buyers only work with manufacturers or suppliers that have specific certifications , so make sure they're visible and up to date. Be Where Buyers Search For New Suppliers. That means (at a minimum) you need a website that's up to date and modern. Capabilities.

Buyers 64

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

Positive Purchasing

DECEMBER 6, 2023

Part of this assessment also helps us to get in touch with critical stakeholders like NGOs, customers, our suppliers, as well as our employees, and ensure that their perspective is accurately reflected. Jonathan: Are suppliers ready and willing to implement sustainability initiatives, or is it more complex than that? Their limitations.

Sustainability 64

Sustainability Price Supply Chain Efficiency Agile and Lean Supply Chain 64

Jaggaer

APRIL 2, 2019

If you’re in the market to buy, consider this: Where are you at in the buying process? Face-to-face meetings strengthen supplier relationships. Plus, JAGGAER is happy to be sponsoring ISM’s diversity breakfast panel, featuring even more accomplished women in procurement.

Leadership 66

Leadership Buying process Networking Import 66

Procurement Software

MAY 30, 2023

Across any category of indirect spend, with the exception perhaps of energy and utilities, there is a long tail of non-strategic, tail spend suppliers. Once you have a decent spend taxonomy in place, you can easily categorise your suppliers per category. Suppliers get comfortable when their work is not regularly tendered.

Procurement 52

Procurement Procurement team Purchase orders Contract 52

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. Supplier Relationship Management. Source: CIPS.

Procurement 50

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 50

Procurement Software

MAY 28, 2024

Procurement KPIs for Efficient, Customer-Centric and Digital Teams A digitally enabled procurement team must track more relevant procurement KPIs, which provide insights into spending , supplier performance and process efficiency. Most new suppliers are for low value, non-complex goods or services. It’s a win-win.

Procurement 52

Procurement Category management Procurement team Real-time Visibility 52

SCMDOJO

JANUARY 19, 2025

The ways to find and buy items online with instant processing had changed the customers’ views on the whole chain. But convenience is not the only trait of a click-to-buy process. Instead of depending on one financial option, they can look for grants, equity investments, or supplier financing.

supply chain software solutions 52

supply chain software solutions Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 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. Thinking Machine offers a quick way to identify discrepancies in supplier invoices. DigiProc works by first analysing your spend data.

Supply Chain Efficiency 59

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

Zycus Cognitive Procurement

FEBRUARY 8, 2022

To enable procurement teams to be more strategic, firms must put AI at the center of their arsenal and use it to assist with forecasting demand trends, optimizing bids for estimated savings, calculating supplier scores based on negotiated contract terms, monitoring budget performance, and much more. 1 ) AI-Assisted Sourcing.

Procurement 40

Procurement Real-time Visibility Contract management Bidding 40

EazyStock

FEBRUARY 11, 2021

This may include weighing up the benefits of ordering in bulk for supplier discounts versus the limitations of larger order sizes, such as increased carrying costs and lower turnover rates. Customer reviews are very closely linked to online buying processes and purchasing behavior.

Inventory 52

Inventory Supply Chain Efficiency Management Supply Chain Optimization 52

Supply Chain Game Changer

JANUARY 30, 2020

There are considerable benefits from a SIOP process not the least of which is the improved integrity of the financial process, forecasting, resource and capacity planning, and Inventory Management. . Supplier Operating Terms. However review of the buying process showed that all parts were treated the same.

Inventory 61

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

Zycus Cognitive Procurement

NOVEMBER 16, 2021

Cognitive Procurement : There is a need of using technologies like AI, NLP, predictive analytics, and data mining to draw insights and adapt frameworks to increase process efficiency, manage supplier relationships and thus create a coherent value chain. The benefits of embracing digital procurement for a firm are manifold.

Procurement 40

Procurement Eprocurement Agile and Lean Supply Chain Supply Chain Efficiency 40

Procurement Software

JULY 18, 2023

We also touch on a few more niche solutions for SMEs, for example project management software, supplier intake, accounts payable automation, “build-a-bot”, as well as a negotiation planning guidance tool. The platform also offers inventory management and tracking, as well as solutions for supplier and user management.

Purchasing 52

Purchasing Contract Negotiation Real-time Visibility 52

The Thomas Blog

JULY 12, 2022

Aligned with the industrial buying cycle , these buyers aren't making purchase decisions until they're 70% of the way through the buying process before speaking to a supplier. If a buyer is between two suppliers, a handful of positive reviews may be the thing that sways them to choose you or your competitor.

Buyers 134

Buyers Purchasing Strategy Import 134

Claritum

JANUARY 25, 2019

Better prices from key suppliers. A seamless and fast procurement process. Controlled ease of access for employees to buy from approved suppliers. Normally this whole process would take between eight to ten hours per day of staff time. Better use of scarce resources to procure goods and services.

Supply chain management 36

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

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

Claritum

AUGUST 4, 2020

The focus should be on automating the buying process from a. details of any purchase: if procurement is involved, in a direct line in the process, this will be a very inefficient purchase process. are adhered to and that there is appropriate supplier selection. Focus Procurement on supplier optimisation.

Procurement 41

Procurement Procurement team Supply Chain Efficiency Purchasing 41

Supply Chain Game Changer

SEPTEMBER 29, 2020

Negotiations and sourcing decisions were made which focused on just in time delivery, supplier/vendor managed inventory and greater flexibility conditions surrounding the delivery of goods and increases/decreases in supply. This process included a focus on total cost of ownership, not just piece price levels.

Inventory 90

Inventory Raw materials Supply Chain Optimization Demand 90

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. 4 Suppliers.

Procurement 32

Procurement Real-time Visibility Eprocurement Bidding 32

Finale Inventory

JUNE 29, 2022

Supplier Constraints. You likely have to work with a supplier for at least some part of your product. Sometimes, a supplier can cause issues in your workflow that end with you having an inventory surplus. It could be because the supplier is unreliable or they ran into an issue out of their control with the supplies they need.

Inventory 52

Inventory supply chain software solutions Demand Price 52