Procurement Insights

JANUARY 22, 2024

Are you optimizing your negotiations amidst all of the chaos? – Mike Caster My Thoughts (For What It’s Worth) “Optimizing your negotiations amidst all of the chaos?” So, I put the following search term into Google, “optimizing your negotiations amidst all of the chaos?

Supply Chain Optimization 81

Supply Chain Optimization Agile and Lean Supply Chain Negotiation Supply chain 81

Procurement Tactics

APRIL 27, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Kotter’s Theory — Embracing Sustainability in Procurement Kotter’s theory of change helps companies to introduce change in the business. Frequently asked questions + What is Kotter’s theory of change?

Sustainability 213

Sustainability Procurement Negotiation Strategy 213

Arkestro

DECEMBER 5, 2024

These insights allow procurement teams to anticipate market changes, manage risks, and make proactive decisions that align with organizational goals. Automates Negotiations Arkestro’s powerful AI-powered capabilities help automate negotiations by predicting supplier behavior, market trends, and optimal negotiation strategies.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply Chain Efficiency Supply chain resilience 52

Una

OCTOBER 31, 2023

Change Management Tips for Procurement Professionals Practical change management tips for overcoming resistance from stakeholders and getting your procurement changes to stick for good. Going into a meal, you might expect to beg and employ your best negotiation tactics.

Change management 52

Change management Management Procurement Leadership 52

Procurement Tactics

APRIL 30, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Sustainable Transformation — Embracing Sustainable Procurement Sustainable transformation is needed to adapt and survive the new wave of challenges in the procurement process. However, how do you do it?

Sustainability 158

Sustainability Procurement Procurement strategies Negotiation 158

Procurement Insights

FEBRUARY 1, 2025

As a result most vendors have developed their solutions to manage centrally negotiated contracts that are combined with an aggressive supplier compression strategy. This ultimately leads to the compliance and change management problems experienced by most organizations. What About An AI Savings Event Horizon?

Change management 52

Change management Negotiation Purchasing Strategy 52

Jaggaer

FEBRUARY 5, 2025

The roadmap to S2P digital transformation involves assessing current procurement maturity, setting clear objectives, implementing automation and AI, ensuring change management, and measuring success with KPIs. With a structured approach, companies can transition to a more agile, data-driven procurement function.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Real-time Visibility 52

Spend Matters

MARCH 25, 2025

Organizations must integrate procurement into enterprise-wide decision-making processes to foster collaboration, ensuring that procurement leaders are actively involved in budgeting, supplier negotiations and technology adoption discussions.

Stakeholder engagement 70

Stakeholder engagement Management Procurement Influencing 70

Spend Matters

JULY 11, 2024

While AI can automate repetitive tasks, such as data entry and analysis, it cannot substitute the human touch necessary for negotiating with suppliers or establishing enduring relationships. Myth 1: AI will replace procurement professionals A prevalent fear is that AI will eliminate jobs in the procurement industry.

Procurement 120

Procurement Procurement team Suppliers Influencing 120

Jaggaer

FEBRUARY 5, 2025

The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Digitalization also fosters greater agility in supplier management.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

SCMDOJO

APRIL 20, 2023

Roles and Responsibilities Within the Procurement Department The procurement department is responsible for managing the purchasing and procurement process for a company or organization. Read More: Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities ] What does a Procurement Manager do?

Management 116

Management Procurement Contract management Supply Chain Optimization 116

ivalua

JUNE 16, 2021

These solutions also improve collaboration among organizations and suppliers, and enable procurement teams to leverage data analytics to optimize contract negotiations, payments, buying patterns and more. While starting with a clear strategic vision is essential, these challenges will still need to be addressed.

Eprocurement 130

Eprocurement Supply Chain Optimization Agile and Lean Supply Chain Procurement team 130

Procurement Leaders

JUNE 1, 2022

To do that, the procurement team engaged a team of consultants, who “ushered” the existing team to deliver savings from its existing spend under management by focusing on foundational category management approaches including negotiation, consolidation and vendor rationalisation. Change management.

Procurement 130

Procurement Strategic sourcing Strategic sourcing Leadership 130

ivalua

MARCH 30, 2022

Reviewing pandemic responses and strategies, some CPOs and Procurement teams managed a bit better than their peers as uncertainty and change mounted. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. .

Suppliers 130

Suppliers Supplier relationship management supply chain software solutions Supply Chain Efficiency 130

Una

APRIL 6, 2023

Many consider procurement’s job to be complete once a contract has been negotiated and signed. Benefits realization in procurement Without monitoring contract compliance and supplier performance over time, the monetary and other benefits you worked so hard to secure throughout the supplier negotiation can be seriously eroded.

Procurement 97

Procurement Supplier relationship management Supplier negotiation Contract 97

ivalua

MARCH 15, 2016

The first one I attended was a topic on supply base management. He was the kind of guy you would not want to have to negotiate with way back in the day because he did not negotiate. The facilitator was a gentleman that had “been there and done that.” I smiled at him and attempted a witty comment to break the ice.

Real-time Visibility 100

Real-time Visibility Supply Chain Efficiency Suppliers Collaboration 100

Una

MAY 18, 2023

Unfortunately, procurement is rife with opportunities for fraud due to our relationships with suppliers and connections with contracts, negotiations, and payments. Procurement is rife with opportunities for fraud due to our connections with suppliers, contracts, negotiations, and payments.

Risk 98

Risk Procurement Bidding Suppliers 98

Spend Matters

MARCH 27, 2024

In fact, more than 80% of CPOs, it states, indicated that digital transformation is a top priority, with a specific focus on GenAI, because “… AI tools can help procurement professionals identify trends and patterns that are otherwise impossible to tease out, thereby enabling more informed decisions from supplier selection to contract negotiation.”

Procurement 112

Procurement Negotiation Supply Chain Efficiency Supply Chain Optimization 112

Procurement Heads

FEBRUARY 6, 2023

In the management analysis, I was almost off the scale for two so I like to lead people, but also, I am quite creative and I felt that procurement lends itself to that. You have to lead negotiations and small teams but also you need to be innovative so procurement met my natural requirement. What motivates people and the like.

Procurement 130

Procurement Price Negotiation Management 130

Procurement Software

APRIL 18, 2023

eAuctions are an essential alternative to traditional negotiation methods. eAuctions are a negotiation method that allow buyers to leverage market-driven pricing opportunities. These negotiations take place in real time, with all prospective suppliers at once. In this article we will: Explain eAuctions and their benefits.

Bidding 52

Bidding Supply Chain Efficiency Real-time Visibility Negotiation 52

Procurement Software

MARCH 16, 2025

They can make informed decisions, negotiate more effectively, and identify cost-saving opportunities faster. However, this is dependent on choosing the right technology and having the right skills in your team to drive the change management process and clearly communicate the benefits to business stakeholders.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

World of Procurement blog

MAY 23, 2024

Companies pursue supplier consolidation for a few key reasons: To reduce procurement costs by negotiating volume discounts and more favourable contract terms with fewer suppliers. Companies need to properly communicate changes, manage inventory and contracts, and develop contingency plans to ensure a smooth transition.

Supplier consolidation 52

Supplier consolidation Suppliers Supply Chain Efficiency supply chain budgeting 52

World of Procurement blog

APRIL 23, 2024

Below are the top 20 skills they need to master: Negotiation Skills : The ability to negotiate favorable terms, conditions, and prices is essential. Inventory Management : Understanding and controlling inventory levels for optimal business performance.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

Below are the top 20 skills they need to master: Negotiation Skills : The ability to negotiate favorable terms, conditions, and prices is essential. Inventory Management : Understanding and controlling inventory levels for optimal business performance.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

ivalua

DECEMBER 8, 2020

Technology has become easier to use and leaders place more focus on change management. At Ivalua NOW 2020, commercial real estate leader JLL’s president explained how they were building a marketplace to offer customers access to pre-negotiated pricing, using their spend to differentiate their services.

Procurement 130

Procurement Leadership Innovation Agile and Lean Supply Chain 130

Supply Chain Game Changer

MARCH 13, 2020

If you can increase spend levels through centralized spend aggregation across entities then you increase your leverage in negotiations. But to be able to get these benefits you need the formal and informal authority to negotiate against all of that spend. Negotiating skill and relationships can play a big part. And rightly so.

Procurement 60

Procurement Negotiation supply chain software solutions Procurement team 60

Supply Chain Game Changer

FEBRUARY 12, 2020

Some people take any insinuation that someone else can negotiate lower costs as a personal affront, even if they have never before achieved these kinds of savings on their own. Further if the TMS service provider controls the cost negotiations with carriers and you receive a greater benefit from that, you haven’t lost control.

Management 76

Management Real-time Visibility Supply Chain Optimization supply chain budgeting 76

Supply Chain Game Changer

NOVEMBER 19, 2018

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. The Supply Chain is directly responsible for the payment terms for Accounts Payable, Inventory (this does vary between companies), and even the negotiated terms for Capital purchases.

Agile and Lean Supply Chain 84

Agile and Lean Supply Chain supply chain budgeting Supply chain Raw materials 84

ivalua

JUNE 1, 2022

Given the varying degrees of flexibility and negotiation involved, contract management must be part of their global strategic payment journey. Clearly, there are varying business expectations and the need to address transformational change management.

Real-time Visibility 130

Real-time Visibility Agile and Lean Supply Chain Supply Chain Efficiency Procurement 130

Una

AUGUST 21, 2023

Address potential risks linked to supplier relationships, new management goals, or spend mavericks. Change management Whether it’s a completely new strategy or an alteration to an existing one, making a plan in strategic sourcing usually involves change. Understanding cultural nuances enhances collaboration.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Ethics 52

TYA Suite

JANUARY 27, 2025

A procurement management software helps in identifying cost-saving opportunities by providing insights into spending patterns and. With procurement management solutions, businesses can negotiate better deals with suppliers, track expenditures, and avoid unnecessary purchases.

Real-time Visibility 40

Real-time Visibility Management Procurement supply chain budgeting 40

Procurement Heads

APRIL 26, 2023

Inflation has been a challenge: we’ve had to negotiate supplier requests to increase cost. I think you need to have passion and be highly capable in change management. And then change management allows you to quickly build internal alignment to move the business into action.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Supply Chain Efficiency Sustainability Risk management 130

Procurement Heads

APRIL 26, 2023

Inflation has been a challenge: we’ve had to negotiate supplier requests to increase cost. I think you need to have passion and be highly capable in change management. And then change management allows you to quickly build internal alignment to move the business into action.

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain Supply Chain Efficiency Sustainability Risk management 130

Supply Chain Trend

JULY 29, 2016

About 70 percent of change failures are due to culture-related issues: employee resistance to change and unsupportive management behaviours. S&OP implementations requires significant change, not the least behavioural change. That’s a non negotiable, even when the coach is hired by your own CEO.

Influencing 60

Influencing Change management Leadership Negotiation 60

Supply Chain Game Changer

NOVEMBER 26, 2018

The typical interaction before was over a negotiating table. Depending on who from our side was negotiating it could be a friendly, professional conversation or on the other extreme it could be someone pounding on the table demanding cost reductions. None of that would have been accomplished with a traditional negotiating approach.

Collaboration 67

Collaboration Suppliers Strategy Negotiation 67

Empowering CPO

FEBRUARY 23, 2024

Procurement teams can proactively manage inventory, negotiate contracts, and mitigate risks. Change Management: Employees need training to adapt to AI-driven processes. The AI Advantage Predictive Insights: AI algorithms analyze historical data to predict demand patterns, market trends, and supplier performance.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

Procurement Heads

JULY 19, 2023

It is a non-negotiable in my mind. What companies should be doing is buying generic, and focusing on the change management and the creation of value. The same is true for suppliers as well, making it easy for a supplier to understand how they navigate a corporate business is just as important.

Real-time Visibility 130

Real-time Visibility Import Procurement Sustainability 130