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?) emergency purchases and b.) Tactical sourcing is ideal for a.)

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

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. Subscribe to news from Arkestro. You can unsubscribe at any time.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 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

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. cost, products, legal terms, logistics etc.) Draw up selection criteria optimizing outcomes against risk.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

SCMDOJO

APRIL 3, 2022

eAuctions are online real-time dynamic discussions between one purchasing organization and a group of pre-qualified vendors competing for the purchaser’s trade. General Cost Reductions: Maybe it is just one of the advantages of eAuctions, but it is still significant! It’s time for the Auctioneer to take the stage!

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

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

TYA Suite

JULY 17, 2024

Purchase order (PO) management is a vital aspect of procurement, encompassing the systematic handling of purchase orders from creation to fulfillment. In today's dynamic business environment, efficient po management is essential for optimizing inventory levels, controlling costs, and maintaining strong supplier relationships.

Purchase orders 40

Purchase orders Purchasing Management Supply Chain Efficiency 40

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. Sustainable/ethical procurement.

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

Supply Chain Game Changer

NOVEMBER 13, 2018

And What is Purchasing? From the starting point of the traditional buy-sell, transaction-based purchasing, the practice has moved through stages of change that redefines most aspect of the business. The fundamental objective of any organisation is lowering the cost of goods manufactured. Check out What Exactly Is Procurement?

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

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 Strategic sourcing 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 Strategic sourcing 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

Jaggaer

OCTOBER 24, 2024

It’s vital to ensure that you have the tools and technology needed to optimize your consolidated purchasing power across various centers. Consolidating Suppliers: A Pathway to Cost Reduction Supplier consolidation is another avenue procurement leaders often explore to reduce costs.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 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. However, failing to strategically measure purchasing performance can have significant impacts.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

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. Performance Measurement & Optimization: Establish clear performance metrics (KPIs) aligned with your category goals.

Category management 52

Category management Management Procurement Supplier relationship management 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

Improved communication, regular performance assessments, and joint value creation efforts lead to better supplier performance, reduced risks, and potential cost savings through optimized partnerships. This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 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

IBM Supply Chain Blog

OCTOBER 27, 2023

Top 5 commonalities: UEM and device lifecycle management share several commonalities, as they both play essential roles in the management and optimization of endpoints within an organization. This way, IT teams can be both efficient and effective and keep the total cost of ownership under control.

Management 81

Management Cost of ownership Data Inventory 81

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

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

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

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

IBM Supply Chain Blog

JUNE 30, 2023

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. KPI dashboards or MRO inventory optimization) and audit trails are also included in CMMS software solutions.

Management 60

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

Una

SEPTEMBER 21, 2023

Understanding cost savings Cost savings, as the term suggests, refers to the reduction in expenses achieved through various procurement actions. These actions typically involve negotiating better deals with suppliers , optimizing procurement processes, and finding cost-efficient alternatives for goods and services.

Competitive bidding 52

Competitive bidding Ethics Supply Chain Optimization Strategy 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

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. With EmpoweringCPO, your procurement processes are not just managed; they’re transformed and empowered.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 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

TYA Suite

NOVEMBER 25, 2024

In simple terms, strategic-sourcing helps companies make smarter purchasing decisions by focusing on the long-term benefits and working with suppliers that can help them succeed over time. This means looking closely at where the money is going, which products or services are being purchased, and which suppliers are being used.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

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

IBM Supply Chain Blog

AUGUST 11, 2023

They expect IT budget forecasts to contain actual costs with realistic delivery timelines and a good understanding of how the completed project will impact the business. Any modern IT cost management approach must include accurate cost estimation and detailed project budgets that account for any potential variances.

Import 74

Import Management Budget Real-time Visibility 74

Una

JANUARY 8, 2024

Boosting Business Growth With the Help of a Group Purchasing Organization A playbook for boosting business growth, moving beyond the outdated perceptions of procurement, and turning it into one of your organization’s most important sources of value. What if procurement wasn’t just about cutting costs and securing deals?

supply chain budgeting 52

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

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. With EmpoweringCPO, your procurement processes are not just managed; they’re transformed and empowered.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Supply Chain Game Changer

MARCH 6, 2019

Subscribe to Supply Chain Game Changer. But, when my mom was buying a new vehicle, she didn’t decide to scrap the vehicle from 1993 and purchase one from 1995. Say I purchase a car. Maybe a ’93 Escort… 12 years later the transmission gives out and the repair costs are more than purchasing a new/used vehicle.

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

TYA Suite

NOVEMBER 25, 2024

Sustainable procurement is a growing approach that focuses on purchasing goods and services with consideration for their environmental, social, and economic impacts. This concept goes beyond just the cost and quality of products; it involves analyzing the entire lifecycle of what is being purchased—from sourcing raw materials to disposal.

Sustainability 40

Sustainability Import Supply Chain Efficiency Procurement 40

Empowering CPO

JUNE 27, 2023

This is where spend analysis steps in as a powerful tool that empowers procurement professionals to make informed decisions, optimize costs, and drive strategic outcomes. By proactively addressing these risks, organizations can minimize disruptions and ensure a reliable supply chain.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Procurement strategies 40

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