SCMDOJO

SEPTEMBER 24, 2024

Hidden Costs : These include contract management, monitoring, and managing quality issues. Conduct a Thorough Cost Analysis: Consider both direct and indirect costs, including hidden costs such as contract management, quality control, and supplier relationship management.

Supply Chain Efficiency 98

Supply Chain Efficiency supply chain budgeting Supply chain management Supply chain management 98

Procurement Heads

JANUARY 4, 2023

So, before we’ve signed the agreement, my team ensures that we’ve got the correct service level agreements in place with suppliers that we subsequently performance manage. My team has regular governance meetings with our suppliers where we cover third-party risk management topics, performance, value and sustainability.

Supply Chain Efficiency 246

Supply Chain Efficiency Agile and Lean Supply Chain Sustainability Suppliers 246

Jaggaer

FEBRUARY 5, 2025

Negotiation & Contract Award – Once a supplier is selected, the process of finalizing the award and drawing up the contract begins. Contract management systems often play a role in this stage by helping to standardize and streamline the creation of contracts based on the awarded terms.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Skill Dynamics

FEBRUARY 13, 2025

Professionals now need to look beyond merely negotiating contracts and look to develop long-term partnerships that align well with company goals. Modern supply chain professionals now need skills in ethical sourcing, environmental regulations, and ethical supplier practices. What Is an End-to-End Supply Chain?

Supply Chain Optimization 52

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

SCMDOJO

FEBRUARY 5, 2025

Comprehensive Curriculum: MCIPS covers a broad spectrum of topics, from procurement principles and strategies to contract management, negotiation, and ethical considerations. Think of it as the gold standard for procurement professionals. It provides a holistic view of the procurement landscape.

Procurement 59

Procurement Real-time Visibility supply chain budgeting Supply Chain Optimization 59

Procurement Insights

APRIL 4, 2025

Rationale for Ranking SIG (Rank 1) Strength: Deep dive into procurement executioncost savings, supplier strategies, and contract management. 2 Supply Chain Canada National Conference Ethical sourcing, sustainability, and transparency in supply chains. Workshops and roundtables deliver hands-on, practitioner-focused content.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supply chain Procurement 52

Jaggaer

APRIL 9, 2025

Categories for the Pro-to-Know recognition include but are not limited to Supplier Management, Sourcing, Contract Management, eProcurement, Form Requests, and AP Automation. I encourage you to connect with these Pros to discover strategies for improving user adoption and maximizing solution value.

Supply Chain Optimization 52

Supply Chain Optimization Eprocurement Supply chain resilience Contract 52

SCMDOJO

JUNE 6, 2024

Ethical and Sustainable Procurement: The curriculum emphasizes the importance of responsible sourcing practices, aligning with the growing demand for ethical and sustainable supply chains. Deepen Your Expertise: As you progress, delve into specialized topics like cost optimization, risk management, and supply chain sustainability.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

SCMDOJO

APRIL 20, 2023

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

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. Award & Onboard – At the end of the selection process, you will award the business to one or more suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Jaggaer

MARCH 6, 2025

Harnessing Advanced Technologies & Proving Benefit Modern procurement systems must integrate advanced technologies to streamline processes and enhance decision-making: Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are now indispensable for automating repetitive tasks, such as supplier evaluations and contract management.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement supply chain budgeting Sustainability 52

Jaggaer

FEBRUARY 5, 2025

Organizations can ensure ethical sourcing while reducing compliance risks. Technologies such as robotic process automation (RPA) will streamline and automate routine tasks such as invoice processing and contract management, while artificial intelligence can provide support for non-routine tasks such as supplier negotiations.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

World of Procurement blog

APRIL 23, 2024

Contract Management : Navigating, drafting, and managing contracts with vendors. Project Management : Leading procurement projects from inception to completion. Ethical Judgment and Integrity : Maintaining high ethical standards and transparency in dealings.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

Contract Management : Navigating, drafting, and managing contracts with vendors. Project Management : Leading procurement projects from inception to completion. Ethical Judgment and Integrity : Maintaining high ethical standards and transparency in dealings.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 24, 2024

Understanding the Procurement Process At its core, the procurement process is a strategic axis around which the efficiency, effectiveness, and ethical standards of a business revolve. This process encompasses all activities involved in sourcing, acquiring, and managing the resources necessary for an organization's operations.

Supply Chain Efficiency 52

Supply Chain Efficiency Ethics Procurement Sustainability 52

Planergy

MARCH 19, 2025

Criteria such as customer references, financial stability, and adherence to ethical and sustainability practices should also be considered. Contract Management A well-structured contract clearly defines both parties’ roles, responsibilities, terms, and deliverables.

Suppliers 52

Suppliers Management supply chain budgeting Supply Chain Efficiency 52

ivalua

JUNE 1, 2022

By having conversations with our suppliers upfront, Amrest can filter sustainable and ethical suppliers during the onboarding process to meet their needs. . Given the varying degrees of flexibility and negotiation involved, contract management must be part of their global strategic payment journey.

Real-time Visibility 130

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

Skill Dynamics

FEBRUARY 11, 2025

These could relate to strict environmental reporting standards, product safety, or ethical labor practices within your supply chain, amongst other things. Contract management software is one of the most widely used technologies when it comes to supply chain legal issues. In 2021, the legal tech market generated $27.6

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Supply Chain Optimization Supply chain 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 budgeting Supply Chain Efficiency Budget 52

IBM Supply Chain Blog

FEBRUARY 28, 2024

For example, blockchain-backed contract management, when combined with automation, creates efficiencies and offers a high level of security. Blockchain technology ensures that it’s stored, accessed and shared quickly, accurately and transparently.

Sourcing 94

Sourcing Strategy Supply Chain Efficiency e2e 94

IBM Supply Chain Blog

DECEMBER 13, 2023

By assessing and proactively managing risks inherent in the supply chain , organizations can shield themselves from disruptions and strengthen the resilience of their operations. It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy.

Procurement strategies 65

Procurement strategies Strategy Procurement Agile and Lean Supply Chain 65

TYA Suite

NOVEMBER 15, 2024

From reducing fraud to improving and automating contract management, blockchain is shaping the future of procurement in ways previously unimaginable. Second, blockchain in procurement ensures compliance, as stakeholders can easily verify that suppliers meet regulatory and ethical standards throughout the procurement process.

Supply Chain Efficiency 40

Supply Chain Efficiency Procurement Real-time Visibility supply chain software solutions 40

World of Procurement blog

MAY 8, 2024

Enables adherence to policies and regulations through ethical, sustainable, and compliant practices. Key technologies changing the game in procurement include: E-Procurement Systems E-procurement software provides a centralized platform to manage the entire procurement process online. Top-level oversight of all procurement activities.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

MAY 6, 2023

Contract Management – Contract management is another area where AI and machine learning can bring significant benefits. AI-powered contract management systems can review and analyze complex agreements, identify discrepancies, and ensure compliance with relevant regulations.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Procurement team Supply Chain Optimization 52

Empowering CPO

JULY 3, 2023

These methods often involve manual, time-consuming processes, a lack of transparency in supplier relationships, and difficulty in managing and analyzing large volumes of procurement data. Strategy 4: Sustainability and Ethical Procurement Sustainability and ethics have become increasingly important in procurement.

Innovation 52

Innovation Strategy Procurement Management 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

Automation increases efficiency and reduces errors, leading to faster and more accurate procurement cycles. Initiatives that prioritize environmentally friendly practices, fair labor, and responsible sourcing improve brand reputation and mitigate potential legal and reputational risks.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

SCMDOJO

JUNE 28, 2024

Embracing diversity as a strategic advantage in the supply chain industry is not only the right thing to do ethically but also a smart business decision that drives innovation, growth, and sustainable success. Why Supply Chain is a Great Career Choice for Women?

Supply Chain Optimization 93

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 93

Empowering CPO

JULY 2, 2023

Sustainability and Social Responsibility: Businesses are increasingly recognizing the importance of sustainable and ethically sourced goods, making this a key focus area in procurement strategies. These technologies will enable real-time tracking of supplier performance, intelligent demand forecasting, and automated contract management.

Management 52

Management Procurement Strategic sourcing Strategic sourcing 52

IBM Supply Chain Blog

FEBRUARY 13, 2024

The following are examples of strategic sourcing use cases: Transparency and traceability From fast fashion to fluorite, consumers and stakeholders are keyed into product provenance—expecting brands to uphold ethical, responsible sourcing practices. And from that group, 71% would pay a premium for it.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

Arkestro

JANUARY 23, 2024

Everyday responsibilities include a range of activities, such as: Supplier sourcing Cost negotiation Market research Quality assurance Contract management Risk management Supplier relationship management Policy compliance Budget management Technology utilization For every facet of a procurement manager, communication and collaboration are key.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Arkestro

MARCH 27, 2024

Regardless of industry, procurement buyers fulfill their role by finding the best suppliers, negotiating contracts, and identifying the most cost-effective, timely procurement of goods. The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing.

Buyers 52

Buyers supply chain budgeting Supply Chain Efficiency Procurement 52

NLPA (Next Level Purchasing Association)

JULY 9, 2024

Recommended Reading Contract Review Checklist Contract Termination Letter Eliminating the Pain Out of Contract Management Is Contract Management a Critical Process? How To Accelerate A Contract Negotiation NLPA Learning : Looking for authoritative procurement templates, tools, webinars, and more?

Negotiation 52

Negotiation Contract Contract management Suppliers 52

Skill Dynamics

JULY 19, 2024

Environmentally friendly practices, such as ethical sourcing or moving towards net zero, are now not just preferred but expected. 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.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

TYA Suite

JULY 17, 2024

Prioritizes environmental, social, and ethical considerations in supplier selection and sourcing decisions. From supplier selection criteria to contract management protocols, documented policies establish standards of conduct and mitigate operational risks. to meet the unique needs of each category.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40

Skill Dynamics

OCTOBER 19, 2023

Starbucks’ commitment to fair trade negotiations resulted in three worthwhile endeavors: sustainable and ethical sourcing practices, improved living conditions for coffee farmers, and a unique selling point that attracted socially conscious consumers.

Negotiation 52

Negotiation Procurement Procurement strategies Buyers 52

Una

SEPTEMBER 21, 2023

Contract management Well-structured contracts are essential for cost avoidance. Contracts should include clear terms, dispute resolution mechanisms, and penalties for non-compliance. A solid contract can help prevent costly legal disputes and disruptions to the supply chain.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52

Empowering CPO

MAY 11, 2023

By integrating sustainability into procurement decisions, organizations can reduce waste, conserve resources, support ethical labor practices, and promote local economies. Sustainable procurement practices can encourage ethical behaviors and foster a more equitable global trade system. Incorporating Social Factors in Procurement A.

Sustainability 52

Sustainability Procurement Supply Chain Efficiency Raw materials 52