SCMDOJO

JULY 18, 2024

Vehicle efficiency is a critical factor for businesses operating trucks. It directly impacts operational costs and environmental footprint. This blog post explores various strategies that can significantly improve vehicle efficiency in truck operations. increase in fuel efficiency. increase in fuel efficiency.

Supply Chain Efficiency 105

Supply Chain Efficiency Cost of ownership Supply Chain Optimization Sustainable transportation 105

Jaggaer

FEBRUARY 5, 2025

The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Your focus here is to get security of service at a good price. Finally, in the bottom left we have basic suppliers, or your tail spend.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

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. It includes sourcing and supplier management, contract management, and procure-to-pay (P2P) functions.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Real-time Visibility 52

Procurement Tactics

APRIL 3, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter How Companies Can Benefit From Sustainable Procurement Many businesses are shifting towards sustainability due to the perceived benefits when applied to the actual processes in procurement and supply chain.

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Procurement strategies 183

Procurement Tactics

APRIL 5, 2023

Sustainability in procurement is defined as the acquisition of goods and services in an environmentally-friendly manner to fulfill the needs of the company for its daily operation and supply chain. Sustainability helps improve the financials and future-proof the organization against a range of risks that can disrupt supply chains.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

Procurement Templates

SEPTEMBER 14, 2023

It has the potential to drive change throughout the entire supply chain, influencing how products are sourced, manufactured, and distributed. This collaboration can involve joint efforts to reduce waste, improve energy efficiency, and develop innovative, eco-friendly products.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Procurement Tactics

SEPTEMBER 7, 2022

Sustainable procurement, also known as green procurement, refers to the process of integrating environmental, social, and governance goals into the procurement and supply chain. . In simple terms, sustainable procurement refers to how businesses can identify and reduce the environmental impacts in their supply chain.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. In this guide, we’ll explore the key principles of category management and how it can benefit your organization. Read More: What Does a Procurement Manager Do?

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

Planergy

FEBRUARY 24, 2025

Modern Spend Management and Accounts Payable software. How better management in AP can give you better flexibility for cash flow management. The Four Types of Procurement in Education Key Steps in the Education Procurement Process Who Benefits from Efficient Procurement? Who Benefits from Efficient Procurement?

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

Jaggaer

FEBRUARY 5, 2025

They instantly compare bids based on predefined criteria, such as the lowest bid, pricing tiers, or total cost of ownership, and rank the suppliers accordingly. 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

SCMDOJO

JULY 29, 2022

The objectives and advantages of Economic Order Qty (EOQ) are to minimize inventory carrying costs and ordering costs while simultaneously limiting the probability of stock out to avoid any lost sales or customer loss. Like safety stock calculations , EOQ is one of the most important equations in supply chain planning.

Quantity 131

Quantity Supply chain management Supply chain management Supply Chain Efficiency 131

SCMDOJO

JULY 3, 2023

Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management.

Cost of ownership 98

Cost of ownership Procurement Category management supply chain software solutions 98

Arkestro

NOVEMBER 12, 2024

However, as supply chains have evolved into complex, global systems, the demands on procurement, and associated workload have increased significantly. Businesses must now navigate sustainability, risk management, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52

Procurement Tactics

MARCH 29, 2023

People Pillar The people pillar of sustainability covers all the issues that are associated with the personnel management functions of a company. Transparency In every decision and activity that impacts the environment, society, and economy, there should be transparency when it comes to sustainability goals and objectives.

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

SCMDOJO

APRIL 3, 2022

They are far more convenient than conventional discussions and negotiations, providing procedural integrity and transparency while also lowering final prices owing to enhanced supplier competitiveness. Digital bidding, or eAuctions, are a more efficient way of negotiating with vendors in the international market. Macfarlane, 2017).

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

Una

NOVEMBER 1, 2022

And, like Milton, management assumed procurement people were happily left alone in dank office spaces, content having their red staplers by their side. Strategic sourcing is a holistic approach to developing supply channels that consider all activities within a procurement cycle to secure the best goods and services for the business.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Templates

JUNE 18, 2023

Central banks and governments often aim to manage inflation to maintain price stability and promote economic growth. Money buys less than before How should procurement manage inflation? ChatGPT Procurement departments can take several steps to manage inflation effectively.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Supply Chain Game Changer

MARCH 20, 2019

Subscribe to Supply Chain Game Changer. What Supply Chain Management problem does this solve? The biggest problem in the transitional supply chain is lack of open and trustworthy information availability across the supply chain caused by multiple issues – trust, technology and legacy practices being the top ones.

Agile and Lean Supply Chain 79

Agile and Lean Supply Chain Supply Chain Efficiency supply chain software solutions Supply chain 79

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. However, whats really missing hereneeds analysis. Thus, strategic sourcing makes more sense when done at scale.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Spend Matters

JANUARY 8, 2024

In no order of preference, other than by the date they arrived in our inbox, today let’s hear from Sushank Agarwal, Managing Director of INVERTO. This is where AI can come into its own, allowing procurement to establish full price transparency and scrutinize vendor requests to determine whether price increases were overly inflated.

Procurement solutions 101

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 101

Supply Chain Game Changer

NOVEMBER 12, 2018

Check out 10 Supply Chain Investment Challenges – Real and Imagined! There are thousands of supply chain technology vendors in the market today, and many companies claim their system is the best-of-the-best. Scalability is another area of potential weakness when selecting supply chain technology.

supply chain software solutions 59

supply chain software solutions Supply Chain Efficiency Supply chain Cost of ownership 59

IBM Supply Chain Blog

OCTOBER 27, 2023

Can’t he use only one management tool? Unified Endpoint Management (UEM) is a technology that provides one single platform to manage and protect all types of devices such as smartphones, tablets, laptops, desktops and IoT, running multiple types of operating systems from one single console throughout their lifecycle.

Management 81

Management Cost of ownership Inventory Data 81

Jaggaer

APRIL 22, 2019

Procurement teams are in a unique and important position to drive such initiatives forward as these improvements are only possible through actions taken in the supply chain. And there’s a payoff: procurement teams are most concerned with cost savings and risk management, both of which can be addressed by sustainable procurement.

Sustainability 91

Sustainability Supply Chain Efficiency Procurement supply chain software solutions 91

SCMDOJO

JUNE 6, 2024

Career Advancement: The track is designed to prepare individuals for junior and middle management roles in procurement, providing a clear path for career progression. Watch Procurement Jobs in Future I The Supply Chain Show video on SCMDOJO YouTube Channel!

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Supply Chain Game Changer

NOVEMBER 19, 2018

In the book, The Living Supply Chain , the authors argue that, “Speeding up the supply chain is at the root of everything that is good: improved revenue, reduced working capital, higher profitability, and less obsolete inventory. Digital transformation of the supply chain will change everything – for the better.

Supply Chain Efficiency 45

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 45

IBM Supply Chain Blog

AUGUST 11, 2023

But they are also focusing on cost allocation and expecting greater cost discipline from their CIOs and IT teams, leading CIOs to face increasing pressure to justify their expenditures and keep track of spending. IT cost management has grown in importance because cost control is top of mind for every organization across all industries.

Import 74

Import Management Budget Real-time Visibility 74

World of Procurement blog

APRIL 23, 2024

Procurement plays a critical role in the operational efficiency and financial health of an organization. By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement supply chain budgeting 52

World of Procurement blog

APRIL 23, 2024

Procurement plays a critical role in the operational efficiency and financial health of an organization. By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement supply chain budgeting 52

Supply Chain Game Changer

NOVEMBER 17, 2022

Subscribe to Supply Chain Game Changer. Cloud file encryption is one solution worth looking into because it offers key benefits for supply chain companies that want to protect their sensitive information. Here are five reasons supply chain companies need to start using cloud file encryption. Subscribe Here!

Supply Chain Efficiency 78

Supply Chain Efficiency supply chain budgeting Cost of ownership Supply chain 78

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

In today’s dynamic business landscape, category management in procurement has become an essential weapon for procurement teams seeking to optimize spend, strengthen supplier relationships, and drive growth. To thrive, procurement functions need to become strategic partners within the organization, actively driving growth and efficiency.

Category management 52

Category management Management Procurement Supplier relationship management 52

IBM Supply Chain Blog

APRIL 5, 2024

Part 2 of this four-part series discusses the complex tasks energy utility companies face as they shift to holistic grid asset management to manage through the energy transition. The first post of this series addressed the challenges of the energy transition with holistic grid asset management.

Data 64

Data Management Cost of ownership Budget 64

Supply Chain Game Changer

NOVEMBER 13, 2018

Strategic Sourcing is a proven approach to understanding and delivering significant cost reduction based on Total Cost of Ownership (TCO), building a sustained value – creating relationship with the suppliers and category spend reduction in order to create and sustain a competitive advantage. So what are the new realities?

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Skill Dynamics

JULY 19, 2024

The Foundation of a Successful Procurement Strategy To put it simply, a procurement strategy is a plan that outlines how an organization optimizes its external spending, manages its various supplier relationships, and maintains streamlined internal processes to support cost-effectiveness and generate efficiency.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

SCMDOJO

FEBRUARY 13, 2023

This department manages the selection, acquisition, and payment of goods and services needed to run a business. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Jaggaer

OCTOBER 24, 2024

The emphasis has shifted toward strategic partnerships, with a key focus on reducing costs while fostering long-term supplier collaboration. Let’s explore how procurement leaders can unlock significant cost savings by leveraging supplier collaboration strategies. Any reduction in price is considered a cost saving.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

IBM Supply Chain Blog

JUNE 30, 2023

To do that, technicians, facility managers, maintenance teams, reliability engineers and project managers need accurate, real-time information at their fingertips. Enterprise asset management (EAM) is an asset lifecycle management solution focused on optimizing the overall lifetime performance of assets from acquisition to end-of-life.

Management 60

Management supply chain software solutions Supply Chain Optimization Supply Chain Efficiency 60