Empowering CPO

JUNE 22, 2023

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? Spend analysis is the catalyst for strategic sourcing.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

World of Procurement blog

MAY 8, 2024

Cost Savings - The total cost reduction achieved through strategic sourcing, price negotiations, product rationalization etc. Talent and Skills : As procurement becomes more strategic, change management and stakeholder engagement skills are imperative. High compliance reduces maverick buying.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Skill Dynamics

JANUARY 14, 2025

They can improve performance, lead to stronger strategic alignment, and enhance the career development opportunities for your procurement staff. A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

ivalua

FEBRUARY 25, 2021

They may not consider potential issues of integrations, supplier onboarding, supply chain data management, change management and system optimization, all of which add to complexity and costs. Implementation is challenging: Healthcare organizations tend to underestimate what’s involved with successful implementation.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

Procurement Software

MARCH 16, 2025

You know that you shouldnt be paying Category Managers and Strategic Sourcing Managers their salaries to spend a third of their day on non-value-added tasks , but we all know it happens! But, its also an opportunity to see almost immediate improvements.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

Procurement Leaders

JUNE 1, 2022

The governance team takes charge of procurement policy and compliance, change management and stakeholder training – communicating changes in procurement’s structure and approach to the wider organization. Change management. It also acts as the single point of contact for other finance teams within the company.

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Procurement Strategic sourcing Strategic sourcing Leadership 130

Supply Chain Game Changer

NOVEMBER 22, 2018

Along the way, there will be barriers to a smooth journey, but taking incremental steps towards change will allow organizations to overcome challenges. In this context, it means that change management is vital to digital transformation, no matter how imminent the external threat” ( O’Marah 2017 ). After creating?—?in

Change management 56

Change management Strategic sourcing Strategic sourcing Supply chain 56

Supply Chain Game Changer

OCTOBER 28, 2021

Change requires Change Management. Change can be an uphill battle. As Woodrow Wilson once said, “If you want to make enemies, try to change something”. Change is uncomfortable, uneasy, and — often — applied, not chosen. Maybe existing strategies and processes need to shift before you can adopt new processes.

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supply chain budgeting Procurement Supply Chain Efficiency e2e 89

ivalua

DECEMBER 8, 2020

Sprint’s strategic sourcing transformation, presents a great example, in multiple ways. First, their approach digitized not just the sourcing process itself, but also requirements gathering from the business, providing transparency into the pipeline and prioritization across the company. But some companies still struggle.

Procurement 130

Procurement Leadership Innovation Agile and Lean Supply Chain 130

World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

ivalua

MARCH 15, 2016

Again, many people had great process and change management questions, but no one talked about just how best to truly manage this collaboration process with strategic suppliers. Many of your suppliers work with your competitors in your space, so by keeping suppliers close, you ARE keeping your enemies closer.

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Real-time Visibility Supply Chain Efficiency Suppliers Collaboration 100

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

Additionally, category management fosters a focus on strategic sourcing , allowing teams to explore new sourcing opportunities that align with business growth objectives. Strategic Sourcing: Develop a strategic sourcing strategy for each defined category.

Category management 52

Category management Management Procurement Supplier relationship management 52

Empowering CPO

FEBRUARY 23, 2024

Change Management: Employees need training to adapt to AI-driven processes. AI algorithms categorize expenses, identify cost-saving opportunities, and recommend strategic sourcing initiatives. Challenges and Considerations While AI offers immense potential, procurement teams must address challenges: 1.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

Arkestro

JUNE 7, 2024

Dirk Meuzelaar Director of Global Strategic Sourcing at Provisur The Challenge The tediousness of adding new suppliers As a prominent player in the OEM space, Provisur has close and long-standing partner supplier relationships and views supplier performance as more important than savings.

Procurement 52

Procurement Procurement team Strategic sourcing Strategic sourcing 52

Supply Chain Game Changer

JANUARY 21, 2020

One way or the other, eSourcing is still utilized as a support, or e-enablement to the strategic sourcing cycle, which means it’s a function is heavily rooted in prospecting, qualifying, selecting, and onboarding suppliers digitally. But, what is Source-to-Pay?

Procurement 87

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 87

Supply Chain Game Changer

APRIL 15, 2020

Sometimes, digitalization requires change management, process shifts, and organizational restructuring. The inner ring & central focus areas being: Strategic Sourcing Contract Management Requisitioning Purchasing/Spot Buys Payment Spend Analysis. This is why benchmarking is a crucial part of going digital.

Procurement 90

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 90

Supply Chain Game Changer

MAY 12, 2020

This interview is with Danny Wang, Vice President of Sourcing and Procurement at Canada Goose. We worked in the Commodity Management organization, responsible for Strategic Sourcing and Procurement. I first met Danny when we were both at Celestica.

Leadership 66

Leadership Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 66

World of Procurement blog

MAY 10, 2024

This supports strategic sourcing efforts. Predicting future spend : By analyzing historical spend data, AI algorithms can create spending forecasts, predict seasonal demand changes, and model the impact of external factors on budgets. Change Management Adopting AI requires change management across the organization.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

Strategic Sourceror

JUNE 21, 2022

It's important that employees are fully aware of the potential benefits to them early on to help smooth out the complicated change-management processes that accompanies such a large project. Brought to you by the StrategicSourceror.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Strategic sourcing Strategic sourcing 52

Una

JUNE 15, 2023

10 Procurement Outsourcing Services Explore ten procurement outsourcing services available to help your sourcing function save more money, time, and effort. The CPO is supported by strategic sourcing managers, category managers, buyers, analysts, contract managers, a compliance officer, an SRM manager, and others as new roles emerge.

Procurement 52

Procurement Supplier relationship management Procurement team Contract 52

Procurement Software

MARCH 7, 2023

However, procure-to-pay is definitely a subcomponent of the entire source-to-pay process. The key difference is that S2P includes the important stage of strategic sourcing, which is performed before you. Industry jargon refers to sourcing and the negotiation of terms and conditions as the “upstream” part of the process.

Sourcing 64

Sourcing supply chain software solutions Procurement Agile and Lean Supply Chain 64

Una

OCTOBER 26, 2023

Harnessing the Influencer’s Art to Raise the Profile of Procurement Transferable Skills for Procurement Change management and leadership Implementing ESG initiatives often requires organizational change as you imbed ESG initiatives in organization-wide policies and processes.

Management 52

Management Procurement Supply Chain Efficiency Stakeholder engagement 52

Positive Purchasing

MARCH 4, 2025

There are several key aspects of this digital transformation according to Stphane: Selective Focus: A focused approach is necessary, where full category management is applied only to the most relevant categories. For other categories, a strong strategic sourcing process and contract lifecycle management would suffice.

Category management 52

Category management Strategy Management Collaboration 52

Supply Chain Game Changer

NOVEMBER 17, 2018

The evolution of buying & expediting, which was so common early on, to strategic sourcing and supplier relationship management was a significant transformation through the 1990s and beyond. It’s exciting to solve a consumer goods need with something that worked for a chemical company.

Leadership 74

Leadership Supply Chain Optimization Supply chain Supply 74

Empowering CPO

JUNE 14, 2023

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. A solid change management plan can help to manage this transition smoothly.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Spend Matters

MARCH 27, 2024

So while there are many things the machines can do, they can’t always be relied upon and be let alone, and certainly can’t drive organizational change or perform the nuances related to strategic sourcing just yet. And don’t forget about change management, it’s the key to rapid adoption and ultimate success.

Procurement 112

Procurement Negotiation Supply Chain Efficiency Supply Chain Optimization 112

Planergy

MARCH 10, 2025

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Change management strategies, such as creating pilot programs or appointing tech-savvy change ambassadors, can further ease the transition. How to gain visibility and control of your indirect spend.

Data 52

Data Management Budget Real-time Visibility 52

SCMDOJO

AUGUST 21, 2023

> Watch Now: Too Late for Change Management? > He specializes in procurement and strategic sourcing, offering valuable insights and tips to businesses seeking to optimize their procurement processes.

Supply Chain Optimization 98

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain supply chain software solutions 98

Supply Chain Game Changer

NOVEMBER 12, 2019

In my current role at Softchoice I lead our Operations team from Strategic Sourcing to SKU set up, logisitics, order management, software licensing, customer service and returns. Drawing on my years of experience I am currently leading my team through our own business transformation.

Leadership 42

Leadership supply chain software solutions Supply chain Purchase orders 42

Procurement Software

DECEMBER 5, 2022

However, procure-to-pay is definitely a subcomponent of the entire source-to-pay process. The key difference is that S2P includes the important stage of strategic sourcing, which is performed before you. Industry jargon refers to sourcing and the negotiation of terms and conditions as the “upstream” part of the process.

Sourcing 52

Sourcing supply chain software solutions Procurement Agile and Lean Supply Chain 52

Una

JANUARY 1, 2024

Resources to help: 8 Benefits of Reducing Maverick Spend How to Optimize Your Spend with a Strategic Sourcing Process 6 Ways to Manage Maverick Spend How to Control Your Wildest Maverick Spenders 3. Fix these problems, and watch your mavericks disappear. Second, give Una a call.

Procurement 52

Procurement supply chain software solutions Contract Purchasing 52

Supply Chain Game Changer

MAY 8, 2019

One way or the other, eSourcing is still utilized as a support, or e-enablement to the strategic sourcing cycle, which means it’s a function is heavily rooted in prospecting, qualifying, selecting, and onboarding suppliers digitally. But, what is Source-to-Pay?

Procurement 50

Procurement Supplier relationship management Eprocurement Supply Chain Efficiency 50

Pipefy

JANUARY 11, 2023

In order to alleviate the pressure on supply chains and get ahead of any interruptions, procurement transformation is necessary for improving strategic sourcing, supplier management, and demand forecasting. Learn more about strategic sourcing optimization. Procurement transformation roadmap tutorial.

Strategy 52

Strategy supply chain software solutions Procurement Agile and Lean Supply Chain 52

Procurement Software

MAY 16, 2023

Mid-market businesses, on the other hand, could invest in this software and easily see a quick return if they have the right change management and procurement talent in place. Above $1 billion businesses are typically a target of established, enterprise source-to-pay and source-to-contract suites.

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Procurement Purchase orders Real-time Visibility Purchasing 96

Empowering CPO

JUNE 21, 2023

Change Management: We understand the resistance to change can be a major hurdle. Our change management strategies are designed to facilitate a smooth transition from traditional methods to a more advanced, IT-based approach. Data Security and Privacy: We prioritize your data’s security and privacy.

Real-time Visibility 52

Real-time Visibility Data Procurement Strategic sourcing 52

Procurement Software

JUNE 13, 2023

Mid-market businesses, on the other hand, could invest in this software and easily see a quick return if they have the right change management and procurement talent in place. Above $1 billion businesses are typically a target of established, enterprise source-to-pay and source-to-contract suites.

supply chain software solutions 52

supply chain software solutions Contract management Contract Sourcing 52