Supply Chain Game Changer

SEPTEMBER 25, 2019

All over the business landscape, more companies in more diverse industries are transforming their Procurement functions. They’re leaving behind more transactional models and becoming more strategic, implementing total cost of ownership Strategic Sourcing models, either centre-led or decentralized. Hey Procurement!

Procurement strategies 51

Procurement strategies Strategy Procurement Cost of ownership 51

Procurement Tactics

APRIL 5, 2023

Procurement Strategy Course Take the lead with our proven 5-step procurement strategy 3. CERTIFICATE COURSES Related courses about this subject 1. Negotiation Course Learn from industry experts who negotiated billion $ deals 2.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

Procurify

MAY 24, 2022

This explains why more organizations are adopting an e-procurement strategy. As many as 95 percent of firms adopted technology in their procurement and supply practices according to the CIPS’ 2020 Digitisation in Procurement and Supply Report. . 6 steps to help you create and implement an e-procurement strategy.

Procurement strategies 52

Procurement strategies Strategy Procurement Cost of ownership 52

Procurement Tactics

SEPTEMBER 7, 2022

The total cost of ownership. Life cycle costing. Sustainable procurement integrates sustainability considerations throughout the procurement process. Organizations can also be saved from the economic costs of disruptions in sustainable procurement such as noncompliance with environmental organizations.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Planergy

FEBRUARY 24, 2025

The Four Types of Procurement in Education Key Steps in the Education Procurement Process Who Benefits from Efficient Procurement? Prioritize Total Cost of Ownership (TCO) TCO goes far beyond the initial purchase price, considering the entire lifecycle of an asset or service.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Procurement Tactics

SEPTEMBER 21, 2022

Businesses of all sizes need to save money and reduce costs as much as possible. Sustainability in procurement helps reduce the total cost of ownership through the reduction of energy costs, minimized consumption, over-specification, and environmental and social compliance cost. Risk reduction.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Procurement Tactics

SEPTEMBER 15, 2022

Use the Total Cost of Ownership (TCO) approach when buying. A total cost of ownership assessment adds the financial costs over a product or service’s life cycle. Doing this can help you find new suppliers that are aligned with your organization’s social and environmental priorities.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

Una

NOVEMBER 1, 2022

The initial cost of goods is important, but strategic sourcing takes several other factors into account, which can include: Total Cost of Ownership Innovation Security of supply Quality Social responsibility Sustainability Total Cost of Ownership (TCO) shows how strategic sourcing goes beyond an item’s short-term purchasing pricing.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

World of Procurement blog

APRIL 23, 2024

Regular market research helps in identifying new suppliers, market trends, and technological advancements that can impact procurement strategies. 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.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

Regular market research helps in identifying new suppliers, market trends, and technological advancements that can impact procurement strategies. 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.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

Procurement Tactics

MARCH 29, 2023

For you to generate a sustainable profit, it is crucial for a company to have an effective sales stream, a service that generates genuine value for its customers, and a strategy to ensure the highest possible return.

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130

Skill Dynamics

MARCH 12, 2024

Making informed decisions, supporting profitability objectives, and aligning with strategic priorities are all positive impacts of cost optimization tools. Understanding and managing these factors are essential for ensuring accurate decision-making and maximizing the effectiveness of procurement projects.

Cost optimization 69

Cost optimization Cost of ownership Procurement Strategy 69

Empowering CPO

FEBRUARY 11, 2024

Our strategic sourcing outsourcing emphasize the importance of developing strong ties with suppliers, creating a win-win scenario that goes beyond short-term cost savings. The concept of Total Cost of Ownership (TCO) considers not only the purchase price but also factors in operational, maintenance, and end-of-life costs.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Empowering CPO

MAY 4, 2023

Develop a Comprehensive Procurement Strategy A. Key elements of a successful procurement strategy A robust procurement strategy is essential for businesses to optimize their purchasing processes and achieve their objectives. Develop a Comprehensive Procurement Strategy A.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Una

MARCH 16, 2023

If the procurement team in this example had more influence, the logistics manager wouldn’t have dreamed of making this sort of decision without first engaging them. Why do so many companies lack procurement influence?

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

Procurement Templates

JUNE 18, 2023

Sharing market insights and cost-saving ideas can lead to cost optimization and better pricing agreements. Total cost analysis: Procurement should focus not only on the initial purchase price but also on the total cost of ownership.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

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. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

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.

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

SCMDOJO

APRIL 11, 2023

It covers the basics of procurement, including procurement strategies, contract management, and supplier selection. You’ll also learn about supply chain management and the various stages of the procurement process. The course is designed to be interactive, engaging, and easy to follow.

Supply chain management 116

Supply chain management Supply chain management supply chain software solutions Supply chain 116

Jaggaer

OCTOBER 24, 2024

Moreover, driving suppliers to the brink of financial instability can lead to supply disruptions, ultimately increasing costs as buyers scramble to find alternative sources. By contrast, collaborative procurement strategies focus on creating mutually beneficial partnerships. What is Cost Saving in Supply Chain Management?

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Supply Chain Game Changer

NOVEMBER 23, 2018

Supply Chain is about much more than just negotiating lower materials costs. A well constructed Procurement Strategy will raise the value of the Supply Chain to your company. Are you executing a Buying Strategy or are you just blindly placing purchase orders ? Environmental/Green strategies. Diversity in sourcing.

Category management 61

Category management Strategy Raw materials Management 61

Procurify

MAY 12, 2022

Procurement, on the other hand, is the process of sourcing and purchasing the goods and services a company needs to fulfill its business objectives, usually from an external source, like a third-party vendor or supplier. . An effective procurement strategy can do many things. Total cost of ownership: an important consideration.

Purchasing 52

Purchasing Procurement Purchase orders Cost of ownership 52

Supply Chain Game Changer

MARCH 24, 2020

Taking Total Cost of Ownership Seriously. Total cost of ownership (TCO) is a Procurement sourcing methodology which entails taking into account all aspects of doing business with a supplier, not just unit costs.

Agile and Lean Supply Chain 82

Agile and Lean Supply Chain Supply chain Supply Cost of ownership 82

Skill Dynamics

OCTOBER 19, 2023

The Essentials of Procurement Optimization Taken at its most basic level, procurement optimization is simply the strategic process of improving every aspect of procurement operations. This involves aligning procurement strategies with the overall business objectives such as innovation, sustainability, and resilience.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 52

Empowering CPO

MAY 15, 2023

Therefore, while cost savings are important, they must be balanced with other procurement goals, such as value creation, which we’ll explore in the next section. The Power of Value Creation in Procurement In procurement, value creation is a broader concept than cost savings.

Procurement 52

Procurement Quality Innovation Cost of ownership 52

SCMDOJO

FEBRUARY 13, 2023

Supporting the organization’s goals through effective strategies: The procurement team supports the organization by monitoring supply markets and trends, identifying critical materials, and developing effective procurement strategies to increase competitiveness.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Barkers Procurement

MAY 11, 2023

Consider the bigger picture P2P is part of the wider procurement strategy, and your software should be as well. Both options create a high cost of ownership, and configuration can be problematic. Here are some of the main ones: In cloud habitation Some organisations build tools internally.

Cost of ownership 52

Cost of ownership Real-time Visibility Purchase orders Procurement strategies 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery. This cross-functional engagement ensures alignment of objectives, reduces silos, enhances communication, and leads to more effective procurement strategies that support the organization’s overall goals.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Empowering CPO

AUGUST 20, 2024

By conducting an opportunity assessment, organizations can determine which categories have the most potential for cost savings and process improvements, ensuring that resources are allocated effectively and procurement strategies are optimized.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Spend management Cost of ownership 40

Supply Chain Game Changer

MARCH 6, 2019

Here are 7 Trending Business Practices disrupting Traditional Procurement ! Sourcing has become an increasing business critical element of an overall procurement strategy. For this reason, traditional models of evaluating procurement value adders have begun to shift as well. Responsible Sourcing. Source: Deloitte 2018.

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

Una

SEPTEMBER 22, 2022

Be weary of the risk of receiving little value for your large IT spend due to a perceived lack of solutions and the high cost of enterprise tools. Look Beyond Cost. There are times when cost reduction is a priority but the IT procurement process should take other factors into account as well.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

TYA Suite

NOVEMBER 25, 2024

Instead of just considering the upfront cost of a product, organizations should evaluate the total cost of ownership, which includes maintenance, operational costs, and disposal expenses. This not only reduces environmental impact but can also lead to cost savings and efficiency improvements.

Sustainability 40

Sustainability Import Supply Chain Efficiency Procurement 40

Jaggaer

JULY 25, 2019

These skills must be brought in to complement traditional procurement expertise; our survey revealed a 50-50 split on digital awareness, a finding that was mirrored in the Deloitte Global CPO Survey 2018, which stated that “51% of procurement leaders do not believe that they have the capability in their teams to deliver their procurement strategy”.

Data 45

Data Procurement Budget Cost of ownership 45

Una

OCTOBER 9, 2023

Together, we’ll walk through the ins and outs of strategic sourcing, simplify its concepts, and arm you with the tools and knowledge you need to elevate your procurement strategy to the next level. Our members have access to cutting-edge technology and analytical tools, ensuring clean visible data for their procurement strategy.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Una

JANUARY 8, 2024

The exciting news is that the obsolescence of the old-school procurement pro has made room for a new type of Sourcing Hero: The Value Creator. The Value Creator knows how to align procurement with business objectives and get the best possible impact from their procurement strategy.

supply chain budgeting 52

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

Empowering CPO

JULY 16, 2023

Moreover, traditional procurement usually focuses on the price rather than the total value, which can result in overlooking critical factors like quality, service, and total cost of ownership. 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

Una

SEPTEMBER 21, 2023

Process efficiency Streamlining procurement processes and eliminating inefficiencies can reduce the time and resources required for procurement activities, contributing to cost savings. It helps procurement professionals make informed decisions that lead to long-term cost savings.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 52