Spend Matters

FEBRUARY 13, 2025

For the third piece of tech, a contract management system, the Legal Department was a strong ally. Procurement later worked with Finance to evaluate the supply market, create and issue an RFP and select a leading company in this area to conduct the audit.

Influencing 103

Influencing Procurement supply chain budgeting Strategic sourcing 103

ivalua

MARCH 9, 2023

Upstream covers all the strategic procurement activities such as spend analysis, sourcing, contract management and supplier management (which includes supplier information, risk and performance management). Contract Management: The piece that connects the upstream and the downstream, where value starts being captured.

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

Jaggaer

FEBRUARY 5, 2025

It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Assessment of the supply market (who offers what?) How Has Strategic Sourcing Evolved?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

ivalua

NOVEMBER 27, 2019

A process flow or framework becomes a crutch when Procurement Professionals either don’t know what else to do or don’t have enough experience with varied approaches to recognize the signals in a supply market or competitive landscape suggesting that an RFP isn’t the best way to maximize results.

Strategic sourcing 113

Strategic sourcing Strategic sourcing Sourcing Suppliers 113

SCMDOJO

FEBRUARY 13, 2023

Supporting the organization’s goals through effective strategies: The procurement team supports the organization by monitoring supply markets and trends, identifying critical materials, and developing effective procurement strategies to increase competitiveness.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Zycus Cognitive Procurement

JANUARY 12, 2021

Collaborative sourcing is not devaluing traditional sourcing approaches but the embedding of more robust category strategies, more penetrating views of supply markets to enable stronger supplier relationships. 3] Astute Contract Risk Management.

Contract 52

Contract Sourcing Chief Procurement Officer Contract management 52

Empowering CPO

JULY 2, 2023

How Procurement Fits into a Business’s Operations In the broader context of business operations, procurement is the crucial link between an organization’s internal needs and the external supply market. Contract Management: Contract management involves the administration of contracts with suppliers.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40