Jaggaer

FEBRUARY 5, 2025

They instantly compare bids based on predefined criteria, such as the lowest bid, pricing tiers, or total cost of ownership, and rank the suppliers accordingly. Negotiation & Contract Award – Once a supplier is selected, the process of finalizing the award and drawing up the contract begins.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Jaggaer

FEBRUARY 5, 2025

In the end-to-end source-to-pay (S2P) process , strategic sourcing is the link between spend analytics, category management and contracts management, and is supported by supplier intelligence. Traditional sourcing focuses on high volumes and bulk buying to secure discounts.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Planergy

FEBRUARY 24, 2025

Key solutions to invest in include: Procurement System: This provides automated vendor tracking, real-time budget monitoring, comprehensive contract management, detailed spend analysis, and more for data-driven decision-making.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Procurement Templates

JUNE 18, 2023

Sharing market insights and cost-saving ideas can lead to cost optimization and better pricing agreements. Total cost analysis: Procurement should focus not only on the initial purchase price but also on the total cost of ownership.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

SCMDOJO

JUNE 6, 2024

Start with the Basics: Master the procurement fundamentals with introductory courses in this procurement training covering key concepts like sourcing strategies, negotiation tactics, and contract management. Gain a solid foundation to excel in any procurement role.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Jaggaer

FEBRUARY 5, 2025

In the end-to-end source-to-pay (S2P) process, strategic sourcing is the link between spend analytics, category management and contracts management, and is supported by supplier intelligence. How Has Strategic Sourcing Evolved?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Empowering CPO

NOVEMBER 12, 2020

This powerful insight can help in achieving reduction in Total Cost of Ownership (TCO) on an ongoing basis. Role of category manager & KPI’s of an ideal procurement organization.

Category management 52

Category management Cost of ownership Procurement Strategic sourcing 52

SCMDOJO

FEBRUARY 13, 2023

Preparing procurement cost-benefit analysis helps managers and directors make sourcing decisions on products. For example, preparing the total cost of ownership documents helps the organization know the total cost of acquiring products before purchasing.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Una

FEBRUARY 8, 2023

Implement a contract management system A contract management system can help manage and track contracts with suppliers. This can help to ensure that the terms of the contract are being followed and that the company is getting the best value for its money.

Procurement 59

Procurement Negotiation Contract Strategic sourcing 59

Skill Dynamics

JULY 19, 2024

Aim for win-win agreements that benefit both parties, and ensure that your contracts are clear and enforceable. Good contract management can prevent misunderstandings and disputes down the road. Consider the Total Cost of Ownership (TCO), which includes purchase price, maintenance, and disposal costs.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

Jaggaer

DECEMBER 13, 2024

Source-to- P ay refers to a broad strategic approach that encompasses not only the transactional end of procurement but also strategic sourcing, contract management, supplier relationship management, spend visibility, and procurement analytics. Contract management should also be viewed as a lifecycle activity.

Sourcing 52

Sourcing Contract Procurement Chief Procurement Officer 52

Una

SEPTEMBER 22, 2022

Be weary of the risk of receiving little value for your large IT spend due to a perceived lack of solutions and the high cost of enterprise tools. Look Beyond Cost. 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

World of Procurement blog

MAY 20, 2024

Leading CLM platforms centralize contract storage, enable collaboration, provide robust search capabilities, and generate actionable insights through reporting and analytics. This allows organizations to scale contract management as their business grows. Leading solutions deliver huge time and cost savings.

e2e 52

e2e Real-time Visibility Procurement Contract 52

Empowering CPO

FEBRUARY 20, 2023

Along with cost efficiency, the quality should also improve and the evaluation is more on the Total Cost of Ownership and not only on price. Identifying categories for LCCS strategy is an important step towards achieving efficiency.

Procurement 52

Procurement Cost of ownership Category management Sourcing 52

SCMDOJO

APRIL 11, 2023

It covers the basics of procurement, including procurement strategies, contract management, and supplier selection. You’ll also learn about supply chain management and the various stages of the procurement process. The course is designed to be interactive, engaging, and easy to follow.

Supply chain management 116

Supply chain management Supply chain management supply chain software solutions Supply chain 116

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery. Automation increases efficiency and reduces errors, leading to faster and more accurate procurement cycles.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. It involves the process of identifying, selecting, acquiring, and managing resources that a business needs to fulfill its operations and meet its goals.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Jaggaer

OCTOBER 3, 2024

It will lead to decreased costs by reducing the time and resources required to complete tasks and minimizing the occurrence of defects. Contracts management is vital to avoid cost leakage. Improving quality is a further lever you have.

Supply Chain Optimization 52

Supply Chain Optimization Agile and Lean Supply Chain Supply Chain Efficiency Contract 52

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

Organizations with procurement professionals without the necessary data analytics skills may lack the insights needed to make informed procurement decisions, which can lead to missed opportunities for cost savings and optimization. Streamline procurement activities and reduce costs by using eProcurement and Internet Reverse Auctions. •

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Empowering CPO

MAY 4, 2023

Supplier management systems: Tools that help track, evaluate, and manage supplier relationships and performance. Spend analysis software: Applications that analyze procurement data to identify trends, risks, and opportunities for cost reduction. Adopt a Total Cost of Ownership Approach A.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

IBM Supply Chain Blog

JUNE 30, 2023

Being able to track assets, assess and monitor them, manage and optimize their quality and reliability, and gauge where inefficiencies are occurring means a business can get the most out of its assets and avoid unnecessary disruptions that could impact the smooth running of its operations.

Management 60

Management supply chain software solutions Supply Chain Optimization Supply Chain Efficiency 60

Una

SEPTEMBER 21, 2023

Process efficiency Streamlining procurement processes and eliminating inefficiencies can reduce the time and resources required for procurement activities, contributing to cost savings. It helps procurement professionals make informed decisions that lead to long-term cost savings.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. It involves the process of identifying, selecting, acquiring, and managing resources that a business needs to fulfill its operations and meet its goals.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Una

OCTOBER 9, 2023

It’s a systematic and collaborative way to identify, evaluate, and optimize the acquisition of goods and services that meet your organization’s objectives while minimizing costs and risks. It considers the total cost over the product or service's entire life cycle, including maintenance, warranties, and potential hidden expenses.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

JUNE 27, 2023

Pricing and Cost Metrics: By comparing pricing across suppliers within a category, organizations can identify potential cost-saving opportunities. Analyzing price variances, total cost of ownership, and supplier profitability can lead to more favorable negotiations and better cost management.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40