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Here’s a comprehensive list of the top 100 skills that a Procurement Manager should master

Procurement Templates

Analyze Total Cost of Ownership (TCO): Incorporate factors like lifecycle costs, maintenance, and disposal into purchasing decisions. Legal and Compliance Knowledge Actionable Steps: Learn Contract Law Basics: Understand key contract clauses like force majeure, indemnity, and termination rights. Coursera, Udemy).

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ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

According to the panelists, there are some key features and functionality that make best-in-class supply chain solutions a better choice for healthcare organizations: Guided procure-to-pay compliance: The concept of compliant purchasing in healthcare encompases the front-end user experience. Demand planning capabilities.

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Technology Trends in Procurement

Una

Take B2B services purchasing as an example. Contract monitoring. AI is also getting better at reading unstructured documents including supplier contracts, with one study revealing that AI read a contract in 26 seconds while human lawyers took 92 minutes. IoT proliferation. Self-service.

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Building Stronger Relationships: Effective Approaches to Multi-Tier Supplier Collaboration

Jaggaer

In the absence of communication, even the best suppliers can only deliver marginal value at best. For optimal effectiveness, supplier selection, contract management , and supplier development must be supported by consistent, streamlined, and transparent collaboration. Collaboration brings visibility and agility for gaining market share.

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Leveraging Lean Procurement

Una

Procurement process automation can involve anything from automated supplier discovery, payment processing, spend analytics , and contract approval. Utilizing a GPO as an extension of your procurement team can help streamline the purchasing process, save costs, and save time by eliminating indirect spend contract negotiations.

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Talent Spotlight: Andrew F. Smith

Procurement Heads

The pandemic had a huge impact on many industries; in our case, our revenues dropped by around 40% almost overnight, plus our supply chain dramatically contracted as borders were closed and inventories dried up. Also key was demand planning, matching our purchasing plans with the ever-changing demand situation.

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Talent Spotlight: Andrew F. Smith

Procurement Heads

The pandemic had a huge impact on many industries; in our case, our revenues dropped by around 40% almost overnight, plus our supply chain dramatically contracted as borders were closed and inventories dried up. Also key was demand planning, matching our purchasing plans with the ever-changing demand situation.