Pipefy

MAY 22, 2024

A brief introduction to total cost of ownership (TCO) Total cost of ownership refers to all of the expenses that are incurred when purchasing, implementing, deploying, maintaining, and using a product, tool, or equipment. This also includes any time costs associated with downtime, training, or other productivity losses.

Cost of ownership 52

Cost of ownership Purchasing supply chain software solutions Supply Chain Optimization 52

ivalua

FEBRUARY 25, 2021

They may not consider potential issues of integrations, supplier onboarding, supply chain data management, change management and system optimization, all of which add to complexity and costs. ERPs tend to be built for the back office, so they lack the consumer-like user experience that leads to high user adoption among suppliers.

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

ivalua

OCTOBER 28, 2015

Suppliers have never been more important. Driven by a desire by manufacturers to insulate themselves from spiraling labor costs, manufacturers shifted production of parts and components into the supply chain. Your suppliers can be a competitive advantage or a burden that keeps you from growing. Create a specific data map.

Suppliers 100

Suppliers Cost of ownership Price Collaboration 100

SCMDOJO

SEPTEMBER 19, 2024

If you graduated from a program focusing on supply chain management or completed professional certification in procurement, the coursework and educators always say that piece price isn’t the total cost of ownership of the item purchased. Soft costs can be more difficult. Soft costs: 1.

Price 98

Price Suppliers Cost of ownership Quality 98

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. Steps, Benefits, and Best Practices S2P covers the entire procurement lifecycle, from supplier selection to final payment.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Real-time Visibility 52

ivalua

JULY 15, 2015

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 147

Procurement Tactics

SEPTEMBER 7, 2022

The total cost of ownership. Life cycle costing. This can arise from bad supplier practices such as local pollution and child labor. . Organizations can also be saved from the economic costs of disruptions in sustainable procurement such as noncompliance with environmental organizations. Cost reduction.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Procurement Tactics

MAY 2, 2023

Thus, ensuring that all your suppliers and processes can meet your sustainability goals. It involves selecting suppliers that meet the sustainable criteria or standards of your company, with the goal of promoting sustainable development and reducing negative environmental and social impacts.

Sustainability 204

Sustainability Procurement strategies Negotiation Ethics 204

Procurement Tactics

SEPTEMBER 21, 2022

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 is linked with all the suppliers of an organization it chooses to partner with. Risk reduction. Revenue growth.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Strategic Sourceror

JULY 11, 2022

Does your potential supplier have suppliers? Every once in a while, a supplier is the single source for the materials you need. But more often than not, your supplier will also have a supplier. Ideally, however, the vendor you partner with should have multiple suppliers.

Cost of ownership 57

Cost of ownership Suppliers Supply Chain Efficiency Strategic sourcing 57

Procurement Tactics

SEPTEMBER 15, 2022

Negotiate sustainability with your suppliers. Try to start talking about sustainability in purchasing with your suppliers. Think about your most strategic suppliers and their products, services, and operating practices. You can also outline the expectations you have for your suppliers and how they will be assessed.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

Jaggaer

FEBRUARY 5, 2025

A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. 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.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Procurement Templates

SEPTEMBER 14, 2023

Procurement, often considered the gateway between an organization and its suppliers, plays a central role in this transformation. This involves selecting suppliers and partners who are committed to ethical and eco-friendly practices. Moreover, transparency and communication are critical in supplier relationships.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. A successful approach requires careful assessment of supplier bids, followed by structured onboarding, continuous monitoring, and performance measurement.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Una

NOVEMBER 1, 2022

These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Investing in procurement technology , team training, and supplier relationship management will have greater rewards than short-term selections based on the lowest price or aggressive supplier negotiations.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

MARCH 18, 2021

The Belgium-based automotive supplier, specialising in sustainable and affordable propulsion system solutions, deployed Ivalua’s platform in September 2020 for the sourcing of components for the DT2 program, within the company’s Joint Venture operations: Punch Powertrain PSA e-transmissions. About Punch Powertrain.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Buyers 130

Arkestro

NOVEMBER 12, 2024

Today’s procurement challenges go far beyond cost negotiations and sourcing. 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. Arkestro introduces a templatized, embedded approach to sourcing events.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. Total cost analysis (how much does it cost to provide those goods or services?)

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Procurement Tactics

APRIL 3, 2023

Social Benefits For social benefits, the number one is working with suppliers who engage with communities to ensure a better life for all the people working for the supplier. Economic Benefits Businesses can increase their profits by adopting a total cost of ownership approach to life-cycle cost.

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Procurement strategies 183

Planergy

FEBRUARY 24, 2025

How AP can improve relationships with your key suppliers. 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.

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

Jaggaer

OCTOBER 24, 2024

Maximizing Cost Savings Through Strategic Supplier Collaboration With the growing emphasis on long-term value creation, Chief Procurement Officers are increasingly turning to supplier collaboration as a cornerstone of cost reduction.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Spend Matters

JANUARY 8, 2024

Index-linked clauses with key suppliers can also be used to ensure fairness and balanced exposure for all parties. As businesses seek greater control over risk, sustainability, availability and costs, some businesses are contemplating full backward integration in the value chain.

Procurement solutions 99

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 99

Procurement Templates

JUNE 18, 2023

Here are some strategies and practices that can be implemented: Long-term contracts: Procurement teams can negotiate long-term contracts with suppliers that include price adjustment mechanisms. These mechanisms can be tied to inflation indices or specific cost drivers, allowing for adjustments in prices based on changes in inflation.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

ivalua

MAY 28, 2014

The Cloud: Gartner stated that in 2013 cloud adoption rose by 40%, driven by the low total cost of ownership, which reduced both infrastructure and overall maintenance costs. Internally, buyers and engineers must work with quality and product; then that cross-functional group must collaborate with external suppliers.

Supply Chain Optimization 100

Supply Chain Optimization Innovation Supply chain Cost of ownership 100

SCMDOJO

JULY 29, 2022

That there are no constraints on lot size : Suppliers do sometimes request a minimum order quantity or the stock keeping unit comes in a specific package with a specific quantity. So, the calculated Economic Order Qty (EOQ) might be a small value, while the minimum order quantity by the supplier might be a higher value.

Quantity 131

Quantity Supply chain management Supply chain management Supply Chain Efficiency 131

World of Procurement blog

APRIL 23, 2024

By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. These policies should outline how procurement activities are to be conducted, from supplier selection to contract execution, ensuring consistency and compliance across the organization.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. These policies should outline how procurement activities are to be conducted, from supplier selection to contract execution, ensuring consistency and compliance across the organization.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 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. Suppliers’ risk is decreased because they have more assurance. Tender-cost-of-sale profits are not included.

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

Una

MARCH 16, 2023

Just calling to let you know we’re selling the current motor pool vehicles and will be switching to a cheaper supplier for our commercial fleet.” Other reasons include risk reduction , creating a cost-conscious culture, and more effective change management when implementing new procurement processes, technologies, and strategic initiatives.

Influencing 105

Influencing Procurement Cost of ownership Supplier relationship management 105

Planergy

SEPTEMBER 8, 2022

How AP can improve relationships with your key suppliers. Supplier Performance Management: How and What To Measure. Best Practices & Tips Supplier Performance Supplier Relationship Management. Best Practices & Tips Supplier Performance Supplier Relationship Management. Download Free Copy. Written by.

Suppliers 52

Suppliers Management Supplier relationship management supply chain budgeting 52

Una

JANUARY 30, 2023

Expand the focus beyond cost savings Realistically, cost savings will always be in the top three priorities for procurement. But focusing on cost at the expense of everything else damages supplier relationships, stakeholder perceptions, and long-term value generation.

Procurement 98

Procurement Cost of ownership Influencing Purchasing 98

Skill Dynamics

NOVEMBER 17, 2022

These can take many forms, for example implementing a new process or tool that will help with supplier negotiations, being involved earlier by the stakeholder in an RFP process, or using total cost of ownership (TCO) analysis to select a supplier.

supply chain budgeting 96

supply chain budgeting Cost of ownership Supplier negotiation Supply chain 96

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

JUNE 6, 2024

Real-World Focus: The content is designed by industry experts with extensive hands-on experience, ensuring the curriculum is relevant and applicable to real-world challenges.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Empowering CPO

FEBRUARY 20, 2023

Factors affecting the success of a Lotting Strategy When the stakes are high for both buyers and suppliers the Lotting Strategy plays a very critical role in ensuring success and eventually higher savings. Thus depending on their capabilities they may quote aggressively or decide not to quote at all.

Strategy 52

Strategy Cost of ownership Strategic sourcing Strategic sourcing 52

SCMDOJO

APRIL 26, 2023

This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money. This strategy also ensures strategic supplier relationship management as per the various categories. Read More: What Does a Procurement Manager Do?

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

Procurement Tactics

MARCH 29, 2023

Full and fair opportunity In the context of procurement, this ensures that all suppliers of the company are treated equally and all have the same opportunity to work with the company. Ethical behavior From sourcing, creation, and delivery of the product, to how employees are treated in the company, Ethical behavior must be observed.

Sustainability 130

Sustainability Supply Chain Efficiency Ethics Cost of ownership 130