Future Purchasing

OCTOBER 4, 2022

In our recently published FP Category Management Leadership Report 2021-22, 51% of respondents agreed an annual plan of category management projects with their relevant business stakeholders, compared to 39% in 2019-20. The importance of strategic alignment. There are a number of critical elements to consider.

Category management 52

Category management Collaboration Real-time Visibility Management 52

Jaggaer

OCTOBER 24, 2024

In times of pressure and crisis , highly responsive and trustworthy suppliers make agility possible. Following widely-known standards keeps your vendor options open so you’re not locked into sourcing from a small pool of specialty suppliers that can negatively impact time to market. Performance and stability can waver.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

ivalua

MARCH 28, 2019

The huge growth in the use of technology has been the most visible part of that developing picture. Outside the technology field, we have also seen “science” come to the fore in terms of codifying processes such as Category Management.

Procurement 167

Procurement Agile and Lean Supply Chain Real-time Visibility Innovation 167

Jaggaer

FEBRUARY 5, 2025

JAGGAER characterizes the steps in this process as Spend Management, Category Management, Sourcing , and Contracts. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. These begin with enhanced visibility.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Jaggaer

FEBRUARY 5, 2025

It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Implementation of new supply structure Track results and restart assessment This model has essentially stood the test of time.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Procurement Tactics

DECEMBER 6, 2022

What is Spend Management? In the past, many businesses relied on tools like spreadsheets to manage their spending. However, these manual processes are ineffective and cost a lot of effort, time, and money. Spend management refers to the management and the continuous improvement of the company’s spending.

Spend management 172

Spend management Management Real-time Visibility Budget 172

Una

JULY 6, 2022

A guide to exploring the benefits of working with a group purchasing organization to save money, time and effort. The real value, however, and where you’ll truly benefit from working with a group purchasing organization like Una, lies beyond the initial cost savings. GPO Case Study | Saving 27% in Multiple Categories with Una.

Purchasing 92

Purchasing Category management Real-time Visibility Supply Chain Efficiency 92

SCMDOJO

AUGUST 16, 2023

The company has implemented sophisticated barcode scanning and point-of-sale systems to collect real-time data from its stores. By employing these technologies, Walmart gains valuable insights into customer buying behavior, sales trends, and inventory levels.

Supply Chain Efficiency 98

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Supply chain 98

Spend Matters

DECEMBER 21, 2023

AI can help create greater efficiency and value across all source-to-pay processes, including spend analysis, opportunity identification, sourcing and contract management, category management, supply relationship management and risk management.

Procurement solutions 110

Procurement solutions Procurement e2e Real-time Visibility 110

Procurement Software

MARCH 11, 2022

The needs of a Procurement Excellence Manager or a Consultant are going to be rather different to those of a Category Manager. A team of Category Managers will likely require more granular features at line item level. The Category Manager or Data Analyst can eliminate a huge chunk of work thanks to automation.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Category management Data 52

Procurement Software

MARCH 11, 2022

The needs of a Procurement Excellence Manager or a Consultant are going to be rather different to those of a Category Manager. A team of Category Managers will likely require more granular features at line item level. The Category Manager or Data Analyst can eliminate a huge chunk of work thanks to automation.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Category management Data 52

Procurement Express

DECEMBER 31, 2024

In this article, we’ll go over a few ways to improve the process: education, gaining spend visibility , categorizing spend by supplier or department, etc. Direct vs. Indirect Spend Types of Indirect Spend Categories What’s Behind This Disconnect? What Happens When Indirect Spend Isnt Managed? The list goes on.

Spend management 40

Spend management Strategy Management Real-time Visibility 40

IBM Supply Chain Blog

JANUARY 23, 2024

Procurement departments tend to be less visible to many stakeholders than sales, operations or even finance departments, but the impact they have on everything from the bottom line to product quality and service delivery shouldn’t be overlooked, which is why “procurement excellence” is a worthy pursuit.

Procurement 86

Procurement Real-time Visibility Contract Suppliers 86

Procurement Leaders

JUNE 1, 2022

Excluded from planning meetings and strategic decisions, and with a team lacking the knowledge and relationships to drive real change, procurement was extremely decentralised, in control of just 30% of global spending and focused mostly on tactical, transactional activities.

Procurement 130

Procurement Strategic sourcing Strategic sourcing Leadership 130

Procurement Heads

JULY 19, 2023

Our organisation is up and running, we have Category Managers, and we have regional teams. We have an amazing analytics dashboard, which gives us visibility on spend and suppliers’ contract duration, supplying really important insight. How much has changed for you professionally since your last Head2Head with us?

Real-time Visibility 130

Real-time Visibility Import Procurement Sustainability 130

Spend Matters

JUNE 19, 2023

E-procurement IT solutions improve process automation, increase spending under management, reduce maverick spend, improve cross-functional process/data integration (e.g., budget compliance and inventory availability), enable effective spend, preferred supplier and category management.

Procurement solutions 98

Procurement solutions Procurement supply chain budgeting Real-time Visibility 98

Una

OCTOBER 11, 2022

Our team is dedicated to empowering procurement and technology professionals to make the best sourcing decisions for their organizations while saving money, time, and effort. As a horizontal GPO , Una leverages our buying power in categories that are commonly purchased by nearly every business. Technology. The benefits?

Spend management 97

Spend management Management Purchasing Real-time Visibility 97

Arkestro

APRIL 25, 2023

The workforce shortage reached half a million this year , and many sectors continue to grapple with increased lead times, and volatile material costs. At the same time, the number of young, able-bodied construction workers has decreased by 8% over the past decade, further exacerbating the industry’s labor shortage.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing supply chain budgeting Real-time Visibility 52

Una

JULY 25, 2023

The first three KPIs we suggest every procurement team should monitor are: Defect rates Lead time Contract compliance Can you guess what the other four KPIs will be? Every free resource is dedicated to empowering procurement to save more money, time, and effort. Read the article to find out.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Procurement Category management 52

Spend Matters

OCTOBER 17, 2024

These start-ups are taking technology further than most to address problems not previously solved, or are introducing a new category of automation that tackles new challenges in interesting ways. We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices.

Buyers 110

Buyers Real-time Visibility Sustainability Data 110

Zycus Cognitive Procurement

DECEMBER 7, 2020

Some examples are – Category. Category manager. Selected parameters have to work in synergy (combination) to achieve real savings. The internal stakeholders have to cover various touch-points and need visibility into all relevant variables. Category Managers. Category and commodity savings.

Real-time Visibility 40

Real-time Visibility Management Procurement Category management 40

Zycus Cognitive Procurement

JANUARY 16, 2023

You must have found yourself struggling with limited visibility into preferred or contracted suppliers, contract utilization status, budgeting issues, and multiple requirements for sourcing low dollar items or services. It is usually time consuming, require multiple approvals and follow ups. Lack of pricing compliance .

Sourcing 52

Sourcing Real-time Visibility Procurement Buyers 52

Procurement Software

MAY 14, 2024

Enhanced Efficiency and Visibility: By adopting process orchestration tools and platforms, businesses gain real-time insights and control over their procurement activities, facilitating quicker decision-making and improved risk management. Modern process orchestration software is designed with the end-user in mind.

Procurement 52

Procurement Real-time Visibility e2e Chief Procurement Officer 52

Procurement Software

APRIL 23, 2024

Located in Amsterdam, Netherlands, the company leverages advanced AI technologies to enhance procurement processes, focusing on efficiency and data visibility. What sets Mithra-AI apart is its real-time, continuous visibility of spend data, coupled with proactive alerts for opportunities and risks.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Supply Chain Efficiency supply chain budgeting 52

Procurement Software

MAY 28, 2024

We need to move with the times. While traditional metrics such as cost savings, procurement cycle time, and supplier lead times are vital, they don’t touch on the softer metrics of a successful procurement team. It’s not the same as progression into managing of a team of junior level, operational team members.

Procurement 52

Procurement Category management Procurement team Real-time Visibility 52

Una

SEPTEMBER 22, 2022

It’s impossible to have the most current or newest application implemented at all times. Lack of visibility into spend and contract data also contribute to the difficulty of managing IT spend. There are times when cost reduction is a priority but the IT procurement process should take other factors into account as well.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Supply Chain Game Changer

AUGUST 30, 2022

In my experience Total Cost of Ownership ( TCO or TCOO) models typically include some combination of the following elements: Unit price (Always the first item) Takedown rate performance Payment terms Freight and Logistics terms and transfer of ownership Lead times (order, delivery, replenishment) Other Parameters (eg.

Cost of ownership 103

Cost of ownership Supply Chain Optimization Procurement Price 103

Claritum

JULY 11, 2018

To make effective decisions about indirect spend, it is important to understand the scope and breadth of the category – visibility. This requires a deep dive into the data relating to the category in order to be able to fully understand the category and make effective decisions relating to the category.

Real-time Visibility 36

Real-time Visibility Category management Purchasing Contract 36

Procurement Software

OCTOBER 1, 2024

These applications usually also have shorter implementation times, and therefore, faster ROI. The easiest way you’re going to ditch the administrative label of procurement is by freeing up time and resources. They’re often brought in to digitise and automate the more tactical purchasing and buying tasks.

Procurement 52

Procurement Procurement team Real-time Visibility Influencing 52

World of Procurement blog

MAY 10, 2024

Spend Analysis and Classification with AI AI and machine learning are transforming spend analysis and classification, providing procurement teams with unprecedented visibility into organizational spending. One of the biggest challenges in procurement has been gaining visibility into exactly where money is being spent across the organization.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

The Procuretech Podcast

SEPTEMBER 7, 2021

Lars begins by explaining how he came to set up LeanLinking following a successful career in procurement as a Regional Category Manager for a pan-European hardware retailer. Most large companies don't have good supplier performance data outside of the standard on-time-in-full (OTIF) measurements. Does the category approach fit?

Raw materials 52

Raw materials Import Supplier relationship management Real-time Visibility 52

Claritum

JULY 11, 2018

To make effective decisions, It is important within any spend category to understand the scope and breadth of the category – visibility. This requires a deep dive into the data relating to the category in order to be able to fully understand the category and make effective decisions relating to the Category.

Real-time Visibility 32

Real-time Visibility Category management Purchasing Contract 32

Procurement Software

AUGUST 20, 2024

The reality though is that many of them are spending a disproportionate amount of time on tactical work and firefighting day-to-day operational purchasing issues. Let’s be real. Therefore, we need to free up their time to spend on more strategic work. Especially if Procurement as a function itself is still quite greenfield.

Procurement 52

Procurement Real-time Visibility Budget Procurement team 52

Supply Chain Game Changer

MARCH 28, 2020

Instead of waiting for others to realize that now is the time for Procurement professionals to make their value and contribution known. Now is the time for Procurement to SELL! Now I would never advocate selling something that isn’t real. Procurement People It’s Time to Sell Yourselves!

Procurement 71

Procurement Chief Procurement Officer Supply Chain Efficiency Purchase orders 71

Supply Chain Game Changer

JULY 3, 2019

But, as stakeholders in the future of tomorrow, we also have to be conscious about the necessary steps to realize sustainable impact, for real. So, what are the steps that need to be taken in businesses globally to make real sustainable impact? Businesses must serve as the champions of sustainability. Source: Purina.

Sustainability 58

Sustainability Sourcing Supply Chain Efficiency Real-time Visibility 58

Procurement Software

OCTOBER 10, 2023

Remote work Younger people especially want more location and time freedom. However, most roles, at least anecdotally from the job boards I occasionally look at, are at best hybrid or at worst full-time office based. People are leaving the profession Burnout is real. Yes, in-person time is vital. It’s a big step up.

Procurement 59

Procurement Real-time Visibility supply chain software solutions Category management 59

Supply Chain Game Changer

DECEMBER 3, 2019

If we had this level of synchronization we would be aligned when it came time to develop our attack plan. Organizationally I learned that while there was one person responsible for Inventory performance tracking this person was not given a lot of time by the Executive team. After all we were in this together.

Inventory 56

Inventory Supply Chain Optimization Supply chain Supply 56