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

MAY 28, 2014

In my last blog post, “ Will your supply chain lead in the next decade? ,” I talked about Gartner’s first-day focus at their Supply Chain Executive Summit in Phoenix, Arizona. This is an especially important message for manufacturers’ supply chain organizations.

Supply Chain Optimization 100

Supply Chain Optimization Innovation Supply chain Cost of ownership 100

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

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.

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

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. Strategic sourcing is a holistic approach to developing supply channels that consider all activities within a procurement cycle to secure the best goods and services for the business.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Spend Matters

JANUARY 8, 2024

Index-linked clauses with key suppliers can also be used to ensure fairness and balanced exposure for all parties. Amid lower growth forecasts and higher interest rates, companies continue to grapple with the challenge of swiftly optimizing working capital.

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

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

SCMDOJO

JUNE 6, 2024

Watch Procurement Jobs in Future I The Supply Chain Show video on SCMDOJO YouTube Channel! Ethical and Sustainable Procurement: The curriculum emphasizes the importance of responsible sourcing practices, aligning with the growing demand for ethical and sustainable supply chains. Enroll Now!

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

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

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

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

Supply Chain Game Changer

NOVEMBER 19, 2018

In the book, The Living Supply Chain , the authors argue that, “Speeding up the supply chain is at the root of everything that is good: improved revenue, reduced working capital, higher profitability, and less obsolete inventory. Digital transformation of the supply chain will change everything – for the better.

Supply Chain Efficiency 45

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 45

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

Supply Chain Game Changer

JANUARY 14, 2020

Subscribe to Supply Chain Game Changer. At Supply Chain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe. As such we have introduced our “Seasoned Leadership in Action™” Interview series here at Supply Chain Game Changer.

Leadership 66

Leadership Agile and Lean Supply Chain Supply Chain Optimization Supply chain 66

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

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

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. Strengthen Supplier Relationships: Traditionally, supplier relationships have often been transactional.

Category management 52

Category management Management Procurement Supplier relationship management 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

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

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

The Future of Procurement Technology Supplier Relationship Management (SRM) Enhancement: Justification : Strengthening supplier relationships through SRM initiatives fosters collaboration, innovation, and mutual growth. 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

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

To succeed in this field, procurement professionals must possess a variety of competencies, ranging from negotiation and supplier management to risk assessment and financial analysis. 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

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 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

Empowering CPO

JULY 16, 2023

Managed procurement services leverage expert knowledge and cutting-edge technology to not only simplify the procurement process but also to identify cost-saving opportunities, ensure supplier compliance, and manage risks. 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

Supply Chain Game Changer

JULY 2, 2020

Subscribe to Supply Chain Game Changer. In the omnichannel supply chain, order management improvement leads to confident inventory management across all channels. Such improvements naturally lend themselves to higher customer service levels and benefits throughout the supply chain. Email Address.

Management 54

Management Real-time Visibility supply chain software solutions Supply Chain Optimization 54

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. moves into the negotiation phase.

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

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. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing 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 Game Changer

MARCH 6, 2019

Subscribe to Supply Chain Game Changer. Organizations are ‘going carbon neutral by 2025’, and ‘implementing Artificially Intelligent business systems’ and ‘sourcing form solely environmentally friendly suppliers’. The responsibility of sourcing responsibly is shared between stakeholder, supplier, buyer and society at large.

Procurement 50

Procurement Procurement team Supply Chain Efficiency Innovation 50

Empowering CPO

JULY 16, 2023

Managed procurement services leverage expert knowledge and cutting-edge technology to not only simplify the procurement process but also to identify cost-saving opportunities, ensure supplier compliance, and manage risks. Managed procurement, on the other hand, adopts a proactive, strategic, and holistic approach to procurement.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40