Procurement Insights

JANUARY 3, 2025

Emphasis shifted from pure cost savings to total cost of ownership (TCO) and value creation. Impact of Globalization and Supply Chain Complexity : The complexity of global supply chains highlighted procurement’s role in managing risks, ensuring continuity, and driving efficiencies.

Agile and Lean Supply Chain 52

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

Jaggaer

FEBRUARY 5, 2025

When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price. Since reverse auctions focus heavily on price competitiveness, this can be easily done with sourcing software tools.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Procurement Templates

SEPTEMBER 14, 2023

Procurement, traditionally seen as a function focused on sourcing goods and services at the best possible prices, has now evolved into a strategic driver for sustainability. It has the potential to drive change throughout the entire supply chain, influencing how products are sourced, manufactured, and distributed.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Planergy

FEBRUARY 24, 2025

The Four Types of Procurement in Education Key Steps in the Education Procurement Process Who Benefits from Efficient Procurement? Educational leaders use strategic procurement to negotiate favorable contracts, explore innovative solutions, and drive institutional efficiency. Who Benefits from Efficient Procurement?

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

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

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.

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

Procurement Tactics

SEPTEMBER 7, 2022

Sustainable procurement refers to the adoption of environmental, social, and governmental (ESG) factors together with the usual price and quality considerations by the organization. . 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

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

JUNE 18, 2023

ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. Inflation occurs when there is an imbalance between the supply and demand of money and goods. What is inflation?

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 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?) But there is a distinction between price and value.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 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

Spend Matters

JANUARY 8, 2024

Rapid value delivery As inflation begins to cool, the challenge for businesses in 2024 and beyond will be to systematically capture this release of prices in most areas. Resilience In light of increased geopolitical uncertainty and extreme weather events, the focus on strengthening supply chains against disruptions will remain.

Procurement solutions 101

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 101

Una

NOVEMBER 1, 2022

Procurement professionals are abandoning traditional sourcing practices in favor of more responsive strategies to supply chain management in pursuit of more significant cost savings and organizational efficiencies. Increased efficiency & innovation.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

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 includes fair treatment of suppliers, transparent bid processes, and adherence to anti-corruption policies.

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 includes fair treatment of suppliers, transparent bid processes, and adherence to anti-corruption policies.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement supply chain budgeting 52

SCMDOJO

APRIL 26, 2023

It involves segmenting spending into areas that contain similar or related products, allowing for a focused approach on categories that offer opportunities for consolidation and efficiencies. Using category management software is ideal as it creates visibility and efficient management.

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

SCMDOJO

JUNE 6, 2024

Affordable Pricing: The program offers competitive pricing and value compared to traditional university programs or in-person training. Watch Procurement Jobs in Future I The Supply Chain Show video on SCMDOJO YouTube Channel! Enroll Now! How to Start with the SCMDOJO Procurement Track?

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Jaggaer

OCTOBER 24, 2024

From bundling spend to identifying mutual efficiencies, these approaches not only drive down costs but also strengthen supplier relationships, ensuring sustainability and value over time. By building trust and transparency, procurement leaders can work with suppliers to achieve cost savings that are sustainable and equitable.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

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

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. They also manage the organization’s supply base to ensure coordination and efficiency.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

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. What is Strategic Sourcing?

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Positive Purchasing

JANUARY 13, 2023

We are seeing a lot of bottlenecks in supply chains, so we must be thinking far into the future of what energy we need, so we can provide the services that are in demand ahead of this. This can not only affect the price you pay, but also impact your reputation, so make sure you dig deeper and ask. Net zero – what do we mean?

Procurement 98

Procurement Supply Chain Efficiency Cost of ownership Demand 98

Supply Chain Collaborator

APRIL 7, 2016

Choose the stodgy, uninspired logistics IT solution provider with the middling results/poor cost efficiency it delivers and you’ll be remembered as lacking vision. You can select the perfect logistics IT platform for your specific needs at a cost that is completely transparent and without nasty “hidden cost” surprises.

Cost of ownership 61

Cost of ownership Buyers Logistics Change management 61

Empowering CPO

JULY 16, 2023

While procurement might seem a straightforward process, it is a multifaceted domain requiring specialized knowledge and strategies to ensure efficiency, quality, cost-effectiveness, and risk mitigation. Managed procurement, on the other hand, adopts a proactive, strategic, and holistic approach to procurement.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Skill Dynamics

OCTOBER 19, 2023

Numerous platforms and needs, on top of a multi-tiered supply chain, have made origin tracing even more challenging. Nonetheless, there is a whole lot more to opimizing procurement processes than just cutting costs and then increasing efficiencies. As a result, training on how to navigate these complexities is a must.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 52

Finale Inventory

JUNE 21, 2024

It allows companies to streamline operations, improve efficiency, and make better informed decisions. Moreover, ERP systems often include modules for human resources, inventory management, and supply chain optimization. Inventory Management: Manages inventory levels, tracks stock movements, and optimizes supply chain operations.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions supply chain budgeting Real-time Visibility 52

Finale Inventory

JUNE 21, 2024

It allows companies to streamline operations, improve efficiency, and make better informed decisions. Moreover, ERP systems often include modules for human resources, inventory management, and supply chain optimization. Inventory Management: Manages inventory levels, tracks stock movements, and optimizes supply chain operations.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions supply chain budgeting Real-time Visibility 52

Empowering CPO

FEBRUARY 11, 2024

At EmpoweringCPO, we understand the pivotal role it plays in optimizing the supply chain, reducing costs, and fostering long-term competitiveness. Consulting firms like ours leverage cutting-edge tools and analytics to gain deep insights into market trends, supplier performance, and cost structures.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Jaggaer

OCTOBER 3, 2024

It starts with spend analysis to provide a detailed cost breakdown, providing the information for competitive tendering via auctions using our Sourcing and Advanced Sourcing Optimizer modules, and aggregating spend where it makes sense for better leverage in negotiations. First, organizations need to get full supply chain visibility.

Supply Chain Optimization 52

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

TYA Suite

NOVEMBER 25, 2024

It involves carefully selecting suppliers based on several factors like quality, price, reliability, and how well the supplier can meet the company's long-term needs. Unlike traditional sourcing, which usually aims to find the lowest cost option and looks at the bigger picture. helps the company choose suppliers that are the best fit.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

Finale Inventory

JULY 17, 2024

Enterprise Resource Planning (ERP) software plays a significant role in streamlining operations, improving efficiency , and enhancing overall productivity. The Role of ERP in Manufacturing ERP software plays a vital role in the manufacturing industry, serving as the backbone for efficient and effective operations.

supply chain software solutions 52

supply chain software solutions Supply Chain Optimization supply chain budgeting Real-time Visibility 52

Empowering CPO

MAY 4, 2023

Importance of procurement in modern businesses In today’s fast-paced and competitive business landscape, procurement plays a crucial role in driving efficiency, cost savings, and overall success. Greater transparency: Real-time tracking of procurement activities allows for better monitoring and control of the entire process.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

The Good Spending

NOVEMBER 5, 2021

TLC adds transportation, packaging, and storage costs to the unit prices. TLC analysis requires a deep understanding of supply chain costs - customs, duties, tariffs, and 3PL services. Total Cost of Ownership (TCO) TCO considers all costs associated with acquiring, operating, and maintaining evaluating bids.

Procurement 52

Procurement Bidding Contract Supply Chain Efficiency 52

Supply Chain Trend

DECEMBER 13, 2016

To get some answers for S&OP practitioners, Niels van Hove founder of Supply Chain Trend, interviewed a group of S&OP leaders. Supply Chain Trend will publish a weekly Q&A with these S&OP leaders. Being early in my supply chain career, I thought this should not be too bad to do.

supply chain software solutions 90

supply chain software solutions Supply Chain Efficiency Supply Chain Optimization Supply chain 90

Supply Chain Collaborator

FEBRUARY 24, 2017

Sadly, many of the updates do nothing to improve your operational efficiency. So, even though it may be delivered in the cloud, the transaction-based pricing model prevents you from capturing the cost savings promised by SaaS delivery in the first place. Your TMS charges by transaction volume.

Cost of ownership 60

Cost of ownership Bidding Logistics Price 60

TYA Suite

JULY 17, 2024

In today's dynamic business environment, efficient po management is essential for optimizing inventory levels, controlling costs, and maintaining strong supplier relationships. By leveraging technology and best practices, organizations can streamline the purchase order process, enhance transparency, and drive operational excellence.

Purchase orders 40

Purchase orders Purchasing Management Supply Chain Efficiency 40

Procurement Software

MARCH 11, 2022

Examples of this are deferring the impact of commodity price increases, or just offsetting inflationary pressures to stand still. In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals).

Procurement 52

Procurement supply chain budgeting Price Negotiation 52