World of Procurement blog

APRIL 23, 2024

A manufacturer is a party in the supply chain that transforms raw materials into finished products. Making : The manufacturing step where raw materials are converted into finished products. Strategic sourcing and cost management are integral parts of this phase to ensure the company remains cost-efficient and competitive.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

World of Procurement blog

APRIL 23, 2024

A manufacturer is a party in the supply chain that transforms raw materials into finished products. Making : The manufacturing step where raw materials are converted into finished products. Strategic sourcing and cost management are integral parts of this phase to ensure the company remains cost-efficient and competitive.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

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

Procurement Insights

MARCH 25, 2025

Our procurement team manages purchasing for raw materials, packaging, equipment, indirect services, and contract manufacturing.

Real-time Visibility 60

Real-time Visibility e2e Suppliers Contract 60

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. An end-to-end (E2E) supply chain describes the process that covers all stages across the supply chain from sourcing raw materials right through to delivering the final product.

Supply Chain Optimization 52

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

SCMDOJO

SEPTEMBER 24, 2024

Download Free Make vs Buy Analysis Real-Life Model Key Factors in Make vs Buy Decisions Cost Breakdown : Direct Costs : Internal production involves raw materials, labor, and overhead. Hidden Costs : These include contract management, monitoring, and managing quality issues.

Supply Chain Efficiency 98

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

SCMDOJO

APRIL 29, 2024

Sign Up for SCMDOJO Pro Membership Importance of Effective Supply Chain Management Supply chain management is not just about moving products from point A to point B – it’s a strategic approach that encompasses the entire network of processes involved in delivering goods and services to customers.

Supply chain management 98

Supply chain management Supply chain management Agile and Lean Supply Chain supply chain budgeting 98

SCMDOJO

APRIL 22, 2022

If the razors are manufactured in Poland (one of the factories of P&G) , then these scannable codes (cryptographic implementation) will depict who was the raw material supplier, the pallet size, shelf-life, who were the trucking companies involved, financials, facilities involved, and stakeholders, to Walmart, who is the ultimate retailer.

Supply Chain Efficiency 137

Supply Chain Efficiency Supply chain Real-time Visibility Supply 137

Supply Chain Game Changer

JANUARY 2, 2019

A supply chain, in view of the above supply chain management definition, comprises a network of both entities and processes (the engineered flow).” It could used for health records management, insurance claims processing, contract management, financial services, voting records, cyber security, personal identification records, and more.

Supply Chain Efficiency 71

Supply Chain Efficiency Supply chain Supply chain management Supply chain management 71

Procurement Express

DECEMBER 31, 2024

What Happens When Indirect Spend Isnt Managed? How Best-in-Class Companies Turn Indirect Spend Into a Competitive Advantage Direct vs. Indirect Spend Direct spend, as mentioned, covers your raw materials, subcontractors, components, hardware, and whatever else you need to build the products you sell to customers.

Spend management 40

Spend management Strategy Management Real-time Visibility 40

TYA Suite

MAY 14, 2023

The entire sourcing and procurement process for identifying, assessing, and negotiating with suppliers of goods or services, finalizing contracts with vendor payment, is another way to define the source to pay concept. E-auctions are a commonly used strategy that sourcing teams use to find the greatest prices on products and raw materials.

Sourcing 52

Sourcing Raw materials Purchase orders Quantity 52

Procurement Express

DECEMBER 31, 2024

Fishbowl Inventory Source Fishbowl is an inventory management system built for manufacturers that order a lot of raw materials. While it has a procurement element to it, FishBowl is something of an outlier compared to say, ProcurementExpress.com or Procurify.

supply chain software solutions 40

supply chain software solutions Purchase orders Procurement Real-time Visibility 40

World of Procurement blog

JULY 28, 2021

However, we are now seeing issues with raw materials, shipping containers and the shortage of materials, food and other elements which is partly being caused by a labour shortage. Effective Supplier Relationship Management concentrates procurement resources on the strategic relationships.

Supplier relationship management 52

Supplier relationship management Suppliers Management Supply Chain Optimization 52

Arkestro

JULY 30, 2024

Production to Order and its Role in Procurement In the context of supply chain management, production to order significantly impacts the procurement process. Procurement teams play a vital role in sourcing raw materials and components needed for the manufacturing of vehicles based on real-time orders.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Demand 52

Empowering CPO

JULY 17, 2023

From sourcing raw materials to securing high-quality services, procurement directly influences a company’s efficiency, productivity, and financial performance. These services typically encompass strategic sourcing, supplier management, contract management, procure-to-pay processes, spend analysis , and process optimization.

Procurement 52

Procurement Supply Chain Optimization Supply Chain Efficiency Raw materials 52

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. In fact, 71% of all companies said the cost of raw materials is the biggest threat to their supply chain in 2023. from February 2020 to August 2022.

Supply Chain Efficiency 52

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

IBM Supply Chain Blog

FEBRUARY 13, 2024

Organizations may also choose to vet each supplier to ensure their own sustainability practices align—from the suppliers of raw materials for production to those who provide shipping boxes. 3 Building a viable and sustainable ecosystem of partners is complex.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

Empowering CPO

MAY 11, 2023

Environmental factors consider the ecological impact of products and services throughout their life cycle, from raw material extraction to disposal. Inventory Analysis: Collect data on energy and raw material use, emissions to air, water, and soil, and any other environmental releases.

Sustainability 52

Sustainability Procurement Supply Chain Efficiency Raw materials 52

Procurement Templates

MARCH 3, 2024

Categories can range from raw materials, components, and finished goods to services such as IT, marketing, facilities management, and logistics. Data Collection : Gather comprehensive data related to spending within each procurement category.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Zycus Cognitive Procurement

FEBRUARY 14, 2022

For instance, a supplier’s inability to come through with raw materials on the set date, due to local turbulence, may delay or hinder the delivery of your end-product. And hold regular compliance reviews of the agreed-upon contract, so that everyone is on the same page and risk is averted.

Suppliers 52

Suppliers Supply Chain Efficiency Supplier relationship management Vendor relationships 52

Claritum

MAY 11, 2018

These include access to cheap raw materials and products, tax breaks and reduced labour costs. Claritum’s spend management platform enables users to reduce the time spent dealing with suppliers and customers by making repeat ordering and contract management easier to manage.

Global sourcing 32

Global sourcing Sourcing Chief Procurement Officer Real-time Visibility 32

SCMDOJO

SEPTEMBER 18, 2023

It helps in optimizing costs, managing risks, and maintaining the quality and reliability of supplies. An example of procurement could be a manufacturing company sourcing raw materials from different suppliers to create their final product. What is an example of procurement? What is procurement services?

Procurement 105

Procurement Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 105

Zycus Cognitive Procurement

JANUARY 24, 2023

Shortages in raw materials, energy, shipping, and labor required that CPOs performed at the top of their game to ensure business continuity. Key processes to automate include contract management, vendor management, invoicing, purchase orders, purchase requisitions.

Procurement strategies 52

Procurement strategies Strategy Agile and Lean Supply Chain Procurement 52

World of Procurement blog

MAY 8, 2024

Types of Procurement There are several types of procurement that organizations utilize: Direct Procurement Direct procurement involves purchasing raw materials and components that go directly into a company's end products. Key procurement roles include: Procurement Manager - Leads team to develop strategies and manage processes.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Pipefy

JULY 24, 2024

Its AI capability also allows such platforms to automate tasks like contract management, procure-to-pay, supplier relationship management, supply chain management, risk evaluation, and risk hedging.

supply chain software solutions 52

supply chain software solutions supply chain budgeting Supply Chain Optimization Data 52

Procurify

JULY 20, 2022

Therefore, purchasing managers must gather supplier intelligence to avoid running into the same purchasing issues with different suppliers. Currently, manufacturing, labour, and raw material costs are rising worldwide. However, organizations need separate contracts that define their working relationship with their suppliers.

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Procurement Software

APRIL 2, 2024

For example, there are software platforms out there targeting marketing, transportation, SaaS, raw materials and professional services procurement. Along with niche category specific procurement tools, there are also project management and internal collaboration applications in this space.

supply chain budgeting 52

supply chain budgeting supply chain software solutions Procurement Budget 52

Empowering CPO

MAY 8, 2023

Some examples include supplier capacity constraints, raw material shortages, transportation disruptions, and natural disasters. To manage supply risks, organizations can diversify their supplier base, maintain safety stock, and monitor supplier performance.

Risk management 52

Risk management Risk Procurement strategies Strategy 52

Procurement Software

MARCH 28, 2023

For example, the raw materials to produce a finished product would normally be considered addressable spend. There may be an argument to say that departmental managers or subject matter experts (SMEs) who manage the suppliers could be considered “spend managers” too. What is Addressable Spend?

Contract 52

Contract Purchasing Procurement team Purchase orders 52

Empowering CPO

JULY 17, 2023

From securing raw materials to procuring top-tier services, these purchases directly impact a company’s efficiency, productivity, and bottom line. These services typically include strategic sourcing , supplier management , contract management, purchase order and invoice management, spend analysis , and process optimization.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Supply Chain Optimization 52

Procurement Software

AUGUST 27, 2024

If you’re leading a smaller procurement team, digitisation of P2P , sourcing and contract management is well within your grasp. This will allow automation to reach more businesses, and free up category managers to spend time on more strategic work. Ten years ago, it wouldn’t have been.

Category management 52

Category management Management Procurement Agile and Lean Supply Chain 52

The Procuretech Podcast

SEPTEMBER 29, 2022

During that time he started looking into procurement tech and contract tech. In that role, he sourced and implemented a contract management product called Gatekeeper, then decided he wanted to join that company. So the contract side of procurement comes naturally to him.

Procurement 40

Procurement Contract Influencing Ethics 40

Planergy

JULY 21, 2023

This typically includes raw materials and components. Contract Negotiation Finalize agreements with selected vendors, considering budget constraints and legal considerations. Doing Business Once you’ve started working with a vendor, having a clear statement of work and adequate contract management is key.

Management 52

Management Procurement supply chain budgeting Budget 52

Supply Chain Game Changer

NOVEMBER 22, 2018

We affirm several of the same areas (Supply Chain, Risk Management, P2P, Innovation Driven Procurement, Contract Management, SaaS….), We affirm several of the same areas (Supply Chain, Risk Management, P2P, Innovation Driven Procurement, Contract Management, SaaS….),

supply chain budgeting 63

supply chain budgeting Procurement Supply Chain Efficiency supply chain software solutions 63

Procurement Software

JULY 4, 2023

Blockchain can be used across various industries, including both finance and end-to-end supply chain management. In the procurement space, however, where it comes into its own is the opportunities it offers for time stamped, fully auditable smart contracts, as well as for raw material traceability in the supply chain.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Procurement supply chain budgeting 52

Empowering CPO

JUNE 14, 2023

Over time, as trust in outsourcing partners grew and the benefits became clearer, companies began to outsource direct procurement activities as well, including raw materials and components essential to their end products. Co-sourcing: This model is a hybrid approach where some tasks are outsourced, and some are kept in-house.

Procurement 52

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

Pipefy

JANUARY 31, 2023

Source to pay (S2P) Source-to-pay is a supply chain management workflow process which encompasses the entire cycle of sourcing goods and services, from supplier selection to contract management. Learn more about source-to-pay vs procure-to-pay. Some businesses refer to vendors as the final link in the supply chain.

Procurement 52

Procurement Bidding Supply Chain Efficiency supply chain software solutions 52