Procurement Tactics

OCTOBER 13, 2022

Strategic Sourcing Manager — The Ultimate Guide. A strategic sourcing manager is a key person in ensuring that the strategic process is effective and efficient. In this article, we will discuss what a strategic sourcing manager is. Additionally, we will tell you the skills needed to be a strategic sourcing manager. .

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Strategic sourcing Strategic sourcing Sourcing Management 200

SCMDOJO

FEBRUARY 16, 2025

This leap in AI capabilities is revolutionizing industries, and AI-driven supply chain management is no exception. The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting.

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Supply Chain Efficiency Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 73

Spend Matters

FEBRUARY 13, 2025

Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the Supply Chain department working on a number of different projects. For the third piece of tech, a contract management system, the Legal Department was a strong ally. It has been a home run.

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Influencing Procurement supply chain budgeting Strategic sourcing 103

Jaggaer

FEBRUARY 5, 2025

Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. What is Source-to-Pay?

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Strategic sourcing Strategic sourcing Sourcing Real-time Visibility 52

Jaggaer

FEBRUARY 5, 2025

What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.

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Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Jaggaer

FEBRUARY 20, 2025

What is Source to Pay (S2P)? Yet in the case of source to pay, it is wholly justified. The term refers to the entire journeyfrom finding suppliers and negotiating contracts to finalizing agreements and making the final payment for goods. Yet there are good reasons to do so. Or rather, it should not, in a data-driven environment.

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Sourcing e2e Supply Chain Efficiency Strategic sourcing 52

Procurement Tactics

MARCH 16, 2023

It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. It can also help you with contract management and compliance processes.

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Procurement Procurement strategies supply chain budgeting Contract management 238

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.

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Strategic sourcing Strategic sourcing Sourcing Strategy 52

SCMDOJO

MARCH 24, 2025

A favorable variance indicates that the company is spending less than planned, whereas a positive outcome means the company is spending more than the planned budget. Every business aims to increase its profit margin, and one effective way to achieve this is by cutting costs. per unit, reducing the actual cost to $90,000.

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Price Purchasing supply chain budgeting Raw materials 69

Jaggaer

FEBRUARY 5, 2025

The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. These begin with enhanced visibility.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. A RFQ is used for low cost purchases and a PQQ is typically used for higher cost tenders. Risks may include budget constraints, supply chain disruptions, quality issues, legal compliance, etc.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Planergy

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Using financial tools can help save time and resources while improving accuracy in the budgeting process. Why is Business Budgeting Important? Budgeting should be part of regular financial planning.

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supply chain budgeting Budget Real-time Visibility Spend management 92

ivalua

DECEMBER 19, 2019

in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” Ivalua is now the only vendor positioned as a Leader in four separate reports — the Gartner Magic Quadrant for Strategic Sourcing Application Suites, Gartner Magic Quadrant for Procure-to-Pay Suites, The Forrester Wave™: eProcurement Platforms, Q4 2019 and this report.

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Contract Sourcing Eprocurement Strategic sourcing 20

Planergy

MARCH 18, 2025

Download Free Copy Supply Chain Disruptions in Schools: Challenges and Solutions Category Inventory Written by Keith Murphy 17 min read Tags Education Risk Management Supply Chain Management Last edited March 18, 2025 Download PDF KEY TAKEAWAYS Efficient school supply chains are critical for maintaining consistent educational services.

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

ivalua

SEPTEMBER 28, 2020

It breaks the bond between Buyer and Supplier, resulting in fragile supply chains and lots of mistrust. When this started for me, I’d hoped that after twenty years of evolution, AP would be touchless, compliant and low cost. Is there a budget and contract (the purchase order is a contract) for these items?

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supply chain budgeting Purchase orders Networking Buyers 237

ivalua

MARCH 9, 2023

A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. What is Source-to-Pay? The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.

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Sourcing Real-time Visibility e2e supply chain software solutions 130

ivalua

DECEMBER 18, 2019

in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” The current offering components scored include spend analytics, eSourcing capabilities, contract life-cycle management, supplier risk and performance management, integration, globalization and references for usability and vendor support.

Contract 20

Contract Sourcing Eprocurement Strategic sourcing 20

ivalua

JUNE 14, 2023

Gartner, 4 Workstreams for Successful Implementation of Any Procurement Application Vishal Patel VP Product Marketing Vishal has spent the last 1​5​ years in various roles within the Procurement and Supply Chain technology market. An Analysis by Ivalua Read More : What is Source to Pay Best Practice?

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Procurement Change management supply chain budgeting Supply Chain Optimization 239

Procurement Tactics

OCTOBER 18, 2022

You cannot get favorable contract terms for the goods and services you want to acquire if you do not have an amicable working relationship with your suppliers. . Supplier relationship management (SRM) is an approach that companies do to assess their suppliers that supply their goods, materials, and services. SAP Business One.

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Supplier relationship management supply chain software solutions Suppliers Management 181

Jaggaer

MARCH 20, 2025

Community colleges, public universities, and private institutions alike must navigate the potential for budget cuts, shifts in federal aid programs, and changing regulatory requirements. Budget Shortfalls First, the good news. These could be amended, scrapped or introduced by current and future administrations.

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supply chain budgeting Procurement Budget Supply Chain Efficiency 52

Supply Chain Game Changer

AUGUST 19, 2022

Subscribe to Supply Chain Game Changer. Supply chain management and contract lifecycle management are key ingredients to business success. How well a company manages its supply chain processes can directly impact its bottom line. What is Contract Lifecycle Management (CLM)? Subscribe Here!

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Contract supply chain budgeting Management Supply Chain Efficiency 97

Let's Talk Supply Chain

MARCH 24, 2025

In a whirlwind of market turbulence, teh auto supply chain is grappling with the aftermath of a tariff blitz that‍ has sent shockwaves through component suppliers worldwide. Key strategies being adopted by component suppliers include: Diversifying the supply chain to reduce reliance on single sourcing.

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Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 40

Skill Dynamics

JANUARY 14, 2025

A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation. Core Competencies in the Procurement Framework Sourcing Involves identifying and evaluating the best suppliers to secure high-quality goods and services.

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Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

SCMDOJO

MAY 6, 2022

Modern enterprises rely on supply chain software to track several activities, including manufacturing and distribution of goods. Many supply chain systems are closed-source, all-in-one, proprietary, expensive, and difficult to customize ( read Why ERP Sucks ). What are No-code Platforms?

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supply chain software solutions Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 138

Procurement Insights

MARCH 16, 2025

Smart Supplier Recommendations & Risk Analysis AI models track historical supplier interactions, contract performance, and risk factors to provide real-time recommendations. MCP ensures that previous supplier evaluations, compliance issues, and sustainability scores are factored into ongoing sourcing decisions.

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Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

Jaggaer

MARCH 7, 2025

The UAE, a leader in government digitalization, continues to set new benchmarks by integrating AI-powered procurement solutions that streamline sourcing, supplier management, and contract execution. Improve Supplier Collaboration Digital platforms facilitate smoother interactions, from onboarding to contract execution.

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Supply Chain Efficiency Real-time Visibility Procurement Supply Chain Optimization 52

SCMDOJO

APRIL 4, 2023

If you’re in the business world, you’re probably always looking for ways to streamline your supply chain operations. Luckily, supply chain analytics is here to help! But like any new technology, there are hurdles to overcome when implementing supply chain analytics.

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Supply Chain Analytics supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 111

Spend Matters

MARCH 11, 2025

While the imposition of import/export tariffs on goods is nothing new, the recent spate of quid pro quo mandates is increasing complexity and uncertainty for organizations trying to navigate their impact on supply chains. This consolidation aimed to make supply chains more resilient.

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Supply Chain Optimization Supply Chain Efficiency supply chain budgeting supply chain software solutions 79

ivalua

OCTOBER 13, 2022

The majority of organizations consider supply chain transparency to be a top priority, however less than a third are satisfied with the level of visibility into their suppliers. Most organizations continue to suffer from severely limited visibility in the lower levels of their supply chains. About the research.

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Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting supply chain software solutions 130

Procurement Tactics

MAY 30, 2023

They manage the sourcing and purchasing of goods and services that the organization requires to operate effectively. They also analyze market trends and make recommendations to senior management on how to optimize procurement processes to reduce costs and increase efficiency. Why Are They Important?

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Management supply chain budgeting Procurement Negotiation 178

SCMDOJO

APRIL 29, 2024

Are you interested in understanding how businesses effectively manage their supply chains? Look no further – this guide is here to help you grasp the fundamentals of supply chain management (SCM) and how it can lead to success. It encompasses activities such as procurement, supplier selection, and evaluation.

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

SCMDOJO

SEPTEMBER 24, 2024

Make vs Buy Analysis is an essential decision-making tool in supply chain management that significantly influences profitability, flexibility, and competitiveness. It helps businesses decide whether to produce goods internally (make) or source them externally (buy), weighing costs, quality, scalability, and capacity.

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

Jaggaer

MARCH 24, 2025

Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.

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

SCMDOJO

FEBRUARY 26, 2025

Introduction As global supply chains evolve, ensuring cost efficiency is crucial. One way to assess the cost performance of any function within the supply chain is through Cost Performance Index (CPI). What is the Cost Performance Index (CPI)? A CPI of 0.83

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supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Raw materials 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.

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Supply Chain Efficiency Procurement supply chain budgeting Sustainability 52

IBM Supply Chain Blog

FEBRUARY 13, 2024

In this age of supply chain disruptions that hold the power to upend entire industries, strength and resilience across the entire value chain is no longer a nice-to-have—it’s a survival tactic. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.

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Procurement Tactics

JUNE 28, 2023

Budget and Cost Control Procurement expenditures, monitoring variations in the cost and identifying opportunities for savings, and avoiding unnecessary costs shall be monitored in accordance with the approved budget. Documents concerning the contracts shall also be undertaken.

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