Arkestro

NOVEMBER 12, 2024

Historically, the focus has been on optimizing portfolios of spend—prioritizing what to address, defer, or ignore—using well-known frameworks such as the Kraljic Matrix and the Pareto Principle. Today’s procurement challenges go far beyond cost negotiations and sourcing. However, this convenience comes with a downside.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52

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

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. cost, products, legal terms, logistics etc.)

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Jaggaer

APRIL 9, 2025

Benefits of Implementing MES Manufacturing execution systems track vast amounts of data and provide real-time insights that can increase production efficiency and save costs. Seamless integration with ERP and supply chain systems: MES synchronizes manufacturing operations with business planning, inventory management, and customer demand.

Supply Chain Efficiency 52

Supply Chain Efficiency Agile and Lean Supply Chain Raw materials supply chain software solutions 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

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

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. Amid lower growth forecasts and higher interest rates, companies continue to grapple with the challenge of swiftly optimizing working capital.

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 cost savings. Now, let’s look at the five main benefits of strategic sourcing: .

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Planergy

FEBRUARY 24, 2025

Market Research Comprehensive market research helps institutions identify potential suppliers, compare pricing, evaluate product quality, and understand emerging technologies and solutions relevant to educational contexts. Think about how major retail giants can afford to keep their pricing low – bulk buying power.

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 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. General Cost Reductions: Maybe it is just one of the advantages of eAuctions, but it is still significant!

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

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

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

SCMDOJO

JULY 18, 2024

While biofuels might have slightly higher initial costs, government incentives can help offset the difference. Evaluating the total cost of ownership, including fuel prices, maintenance requirements, and government incentives, is crucial when considering alternative fuels (Department for Transport, 2005c).

Supply Chain Efficiency 105

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

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

World of Procurement blog

APRIL 23, 2024

Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings. 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

Adopt a Total Cost of Ownership (TCO) Approach Evaluating purchases based on the total cost of ownership rather than just the initial price can lead to significant savings. 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

Jaggaer

OCTOBER 24, 2024

Traditional vs Collaborative Procurement Approaches Historically, procurement teams have focused on getting the lowest price possible from suppliers to reduce costs. By consolidating orders from various departments or facilities, companies can leverage economies of scale, thereby negotiating better pricing from suppliers.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

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

SCMDOJO

APRIL 26, 2023

Category Management as a Strategic Procurement Function Category management is regarded as a strategic procurement function as it helps drive value for the organization, such as reduced prices and costs, supply chain risks and timescales and focusing on building supplier relationships.

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

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

Supply Chain Game Changer

SEPTEMBER 29, 2020

Subscribe to Supply Chain Game Changer. In our experience the best way to systemically, and sustainably, optimize inventory is to take a process based inventory turnover improvement approach. This process included a focus on total cost of ownership, not just piece price levels. Subscribe Here! Email Address.

Inventory 90

Inventory Raw materials Supply Chain Optimization Demand 90

Finale Inventory

JULY 17, 2024

ERP software integrates and manages various aspects of a manufacturing company’s operations, including inventory management, production planning, supply chain management, human resources, finance, and more. One of the standout features of Software 4 is its advanced supply chain management capabilities.

supply chain software solutions 52

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

Jaggaer

DECEMBER 13, 2024

The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supply chain management, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.

Sourcing 52

Sourcing Contract Procurement Chief Procurement Officer 52

Supply Chain Collaborator

FEBRUARY 24, 2017

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 hides total cost of ownership by charging a premium to train new employee/users, carriers, vendors, etc.

Cost of ownership 60

Cost of ownership Bidding Logistics Price 60

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

Una

SEPTEMBER 21, 2023

These actions typically involve negotiating better deals with suppliers , optimizing procurement processes, and finding cost-efficient alternatives for goods and services. Here are some cost-saving levers you can pull: Negotiation and supplier management Negotiation skills are at the heart of cost savings.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 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

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. Cost savings: Digital procurement systems can help identify opportunities for cost reduction, enabling businesses to optimize their spending.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

IBM Supply Chain Blog

APRIL 11, 2024

A proven solution with IBM Cloud: It is optimized for regulated industries , addressing the complex and evolving needs of the payments industry. Total cost of ownership: Hybrid cloud offers the power of choice and performance with workloads anywhere to maximize performance from x86, Power—to Cloud—to Quantum.

Innovation 58

Innovation Cost of ownership Data Risk 58

IBM Supply Chain Blog

AUGUST 15, 2023

It’s a myth that “observability is always expensive” because there are various cost-effective options available for implementing observability in modern systems. The post emphasizes the need for businesses to evaluate their observability tooling carefully, focusing on the value they provide rather than the price alone.

Real-time Visibility 48

Real-time Visibility e2e Budget Cost of ownership 48

IBM Supply Chain Blog

MARCH 14, 2024

By using fit-for-purpose databases, customers can efficiently run workloads, using the appropriate engine at the optimal cost to optimize analytics for the best price-performance. With watsonx.data, customers can optimize price performance by selecting the most suitable open query engine for their specific workload needs.

Data 75

Data Innovation Cost of ownership Management 75

Empowering CPO

JULY 16, 2023

Through our technologically advanced and innovative approach, we have been successful in helping businesses reduce costs, optimize supplier relationships, manage procurement risks, and ultimately drive profitable growth. They were struggling with high procurement costs and a lack of visibility into their supply chain.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Finale Inventory

JUNE 21, 2024

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. Furthermore, AI can also enhance the user experience of ERP systems.

Supply Chain Efficiency 52

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

Finale Inventory

JUNE 21, 2024

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. Furthermore, AI can also enhance the user experience of ERP systems.

Supply Chain Efficiency 52

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

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

With the increasing complexity of supply chains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. It involves optimizing procurement processes and reducing costs while maintaining the quality of goods and services.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. By proactively addressing risks, organizations can safeguard their supply chains and drive efficiencies.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52