Procurement Leaders

DECEMBER 9, 2022

We are working cross-functionally, in terms of productivity and cost-optimisation opportunities – this can include substituting materials, alternative formulations, lowering dosages, regional arbitrage, reducing inventories and shifting production to less affected regions, where applicable and possible.

Collaboration 162

Collaboration Supply Chain Efficiency Raw materials Supplier relationship management 162

ivalua

JANUARY 13, 2021

– Spend control through real-time visibility into budget consumption, negotiated prices, preferred suppliers, engagement channels. An eprocurement software brings many benefits to any enterprise which deploys one: – Maximized compliance with corporate policies and growing legislation requirements with little effort.

Eprocurement 235

Eprocurement Real-time Visibility Purchase orders Budget 235

SCMDOJO

FEBRUARY 21, 2025

Heres how: Diversifying the Supplier Base to Reduce Dependency Risks Implementing Risk Assessment & Contingency Planning Balancing Cost Optimization with Resilience Strengthening Supplier Relationships & Collaboration Leveraging Technology & Data-Driven Procurement What Are the Benefits of Refining Your Procurement Strategy?

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59

Procurement Insights

MARCH 16, 2025

Contextualized Spend Analysis & Cost Optimization AI models use MCP to remember previous spend categories, budget constraints, and organizational purchasing behavior. MCP ensures that AI remembers preferred bid evaluation metrics , supplier preferences, and prior negotiations.

Supply Chain Optimization 52

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

Jaggaer

MARCH 6, 2025

Strengthening Cybersecurity The rise in cyber threats has made robust security measures a non-negotiable aspect of procurement technology. Spend Analysis: Offering detailed visibility into spending patterns, enabling cost optimization. Regular security updates and monitoring to prevent breaches.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement supply chain budgeting Sustainability 52

Spend Matters

SEPTEMBER 25, 2024

NPI is a longstanding and market-leading IT spend optimization service provider with experts providing services in five practice areas, such as licensing and cost optimization consulting. That can amount to a significant expenditure for mid-size and large companies, underscoring the importance of effective management tools.

Vendor relationships 116

Vendor relationships Buyers Market analysis Cost optimization 116

SCMDOJO

DECEMBER 14, 2023

Task-Specific Services: Primarily involved in tasks like supplier identification, negotiation, and quality control. Negotiation and Contractual Agreements: Getting the Best Deal With a list of potential suppliers in hand, the sourcing agency takes on the role of a skilled negotiator. When do you need the Sourcing Agency?

Sourcing 104

Sourcing Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain 104

Procurement Templates

MARCH 3, 2024

Identify opportunities for consolidating supplier relationships, negotiating better terms, or diversifying the supplier base to mitigate risks. This may involve setting category-specific goals, implementing sourcing strategies, negotiating contracts, and establishing performance metrics.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Skill Dynamics

FEBRUARY 11, 2025

Resolving these issues can require extremely delicate negotiation, or even litigation if necessary. A good training program will bring participants through a range of practical exercises to allow them to negotiate and draft contracts in a real-world setting to better develop and hone their skills.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions Supply Chain Optimization Supply chain 52

SCMDOJO

FEBRUARY 5, 2025

Comprehensive Curriculum: MCIPS covers a broad spectrum of topics, from procurement principles and strategies to contract management, negotiation, and ethical considerations. Think of it as the gold standard for procurement professionals. It provides a holistic view of the procurement landscape.

Procurement 59

Procurement Real-time Visibility supply chain budgeting Supply Chain Optimization 59

Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

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

Jaggaer

FEBRUARY 5, 2025

The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Digitalization also fosters greater agility in supplier management.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Procurement Tactics

JUNE 7, 2023

Negotiation Course for Procurement Learn from industry experts who negotiated billion $ deals 2. Collaborative efforts streamline processes, optimize supply chain operations, and identify cost-saving opportunities, leading to improved efficiency and shared cost optimization.

supply chain software solutions 130

supply chain software solutions Collaboration Suppliers Supply Chain Efficiency 130

Jaggaer

OCTOBER 24, 2024

Another benefit is more resilient supply chains that can profitably weather disruptions when the best-laid plans are interrupted. Key Strategies for Enhancing Collaboration From efficiently negotiating terms on a bid to determining supplier capacity in a high-risk category, supplier collaboration works to your advantage.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

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

Procurement Insights

MARCH 23, 2025

Indirect spending typically represents 15-27% of revenue in manufacturing companies, making it a significant area for cost optimization. Savings Potential: 10-20% by reducing external reliance or negotiating rates. Reason: Discretionary nature offers high savings, especially amid cost pressures.

Supplier consolidation 52

Supplier consolidation Supply Chain Optimization Logistics Strategic sourcing 52

SCMDOJO

JUNE 6, 2024

Start with the Basics: Master the procurement fundamentals with introductory courses in this procurement training covering key concepts like sourcing strategies, negotiation tactics, and contract management. Gain a solid foundation to excel in any procurement role.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Procurement Software

JANUARY 26, 2025

This shift elevates procurement from a reactive cost centre to a proactive driver of both cost optimization as well as sales enablement. If the business doesnt see the value of procurement beyond just reactive negotiations and crisis management, its time to brush up your CV and look.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Agile and Lean Supply Chain Category management 52

Jaggaer

OCTOBER 24, 2024

As procurement and supply chain leaders seek to optimize performance, collaboration with suppliers becomes a strategic tool for creating value for the business. From basic cost optimization to leveraging technology, we’ve laid out our six best practices for building and maintaining collaborative supplier relationships.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain software solutions 52

SCMDOJO

OCTOBER 7, 2024

In addition, management commitment, and continuous improvement that includes process optimization, digitalization, supplier negotiation, and customer feedback can reap the rewards. Let’s learn the role of cost efficiency vs cost effectiveness! to the Cost incurred.

Supply Chain Efficiency 92

Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain supply chain budgeting 92

Spend Matters

JUNE 6, 2024

Our customers have rapidly adopted intake and orchestration because it provides higher levels of spend visibility across the entire purchasing process, powering data-driven decision making and cost optimizations. Our research demonstrates that these benefits alone can lead to tens of millions of dollars in savings annually.

Procurement 110

Procurement Influencing Contract Cost optimization 110

ivalua

DECEMBER 19, 2018

The Ivalua solution will automate some of the processes – proceedings, negotiations and approval of contracts as well as invoicing. We specialize in Procurement cost optimization (cost reduction projects), Global Sourcing projects as well as the implementation of specialist Procurement software solutions (Ivalua and NextBuy).

Supplier relationship management 100

Supplier relationship management Contract Buyers Procurement solutions 100

Empowering CPO

FEBRUARY 23, 2024

As businesses seek agility, cost optimization, and data-driven decision-making, AI-powered solutions are becoming indispensable for procurement professionals. Procurement teams can proactively manage inventory, negotiate contracts, and mitigate risks.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

SCMDOJO

JUNE 6, 2023

They can also negotiate better contracts, identify collaboration opportunities, and so on. They can reduce delivery lead times, minimize transportation costs, and optimize transportation routes. Cost Optimization & Spend Analysis Data analytics can help analyze spending patterns throughout a business’s supply chain.

Supply Chain Optimization 72

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency supply chain software solutions 72

SCMDOJO

DECEMBER 11, 2023

Cost Savings: One of the primary benefits of procurement reports is their ability to contribute to cost savings. Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction. What are the 5 main things in procurement?

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

Skill Dynamics

JUNE 26, 2024

Strategic decision-making skills: Learn to analyze data, identify trends, and make informed choices that optimize your entire supply chain. Strategic sourcing and procurement: Expertise in building strong relationships with vendors and negotiating the best deals. Strategically select programs that align with your industry focus.

Supply Chain Efficiency 52

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

Arkestro

JANUARY 23, 2024

Procurement managers play a key role in this rapid growth, helping organizations optimize costs, negotiate favorable terms with suppliers, and ensure financial efficiency. This information allows them to make informed decisions when negotiating contracts and agreements with suppliers later in the day. from 2023 to 2030.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Empowering CPO

JUNE 26, 2023

It enables healthcare providers, hospitals, and medical institutions to gain a holistic view of their spending habits, identify savings potential, negotiate better contracts with suppliers, and ultimately redirect saved funds towards improving patient care, investing in research and development, or upgrading infrastructure.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Empowering CPO

JUNE 27, 2023

By nurturing strong partnerships with suppliers, businesses can ensure a steady supply of quality goods and services, negotiate favorable contracts, and achieve mutually beneficial outcomes. SRM encompasses various activities, including supplier selection, performance evaluation, contract negotiation, and collaborative innovation.

Supplier relationship management 52

Supplier relationship management Suppliers Management Negotiation 52

Una

JUNE 13, 2023

Showcase your hard skills Hard skills are a given, but employers want proof that you have mastered the foundations of your craft such as cost optimization, contract negotiation, and analytics. Showcase your experience in conducting market research, performing cost-benefit analyses, and managing budgets.

Procurement 52

Procurement Management Ethics Negotiation 52

IBM Supply Chain Blog

MAY 1, 2023

In this blog post, we will review the various methods of GCP cloud cost management, what problems they address and how GCP users can best use them. GCP users can leverage committed-use discount recommendations that Compute Engine generates through analyzing customers’ VM usage patterns.

Supply Chain Optimization 79

Supply Chain Optimization supply chain budgeting Budget Cost optimization 79

Finale Inventory

SEPTEMBER 17, 2024

In the ecommerce business, managing inventory costs effectively is crucial for maintaining profitability and healthy cash flow. While many established sellers are beyond the initial stage of funding upfront inventory costs, optimizing how inventory costs are managed remains essential.

Inventory 52

Inventory Management Order Fulfillment Budget 52

IBM Supply Chain Blog

DECEMBER 13, 2023

A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. The role of procurement extends beyond transactional activities.

Procurement strategies 65

Procurement strategies Strategy Procurement Agile and Lean Supply Chain 65

Una

MARCH 20, 2024

Enterprise organizations have volume, which should provide them with hefty purchasing power in a supplier negotiation. With our vast experience in indirect procurement, Una’s team of experts can quickly identify which categories within your organization have the most potential for cost optimization.

Purchasing 52

Purchasing Procurement team Supplier negotiation Negotiation 52

The Good Spending

DECEMBER 27, 2023

Colleagues establish highly specialized Centers of Excellence for game theory-based negotiations to excel in the process and send transactional duties to low-cost countries so that they may dedicate more time to strategic tasks. However, the appetite for change is increasing. Will agile practices continue to generate interest?

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Demand Supply Chain Optimization Negotiation 52

Arkestro

MARCH 27, 2024

Regardless of industry, procurement buyers fulfill their role by finding the best suppliers, negotiating contracts, and identifying the most cost-effective, timely procurement of goods. Sourcing: Finding potential suppliers and negotiating agreements to ensure the best terms and prices for all goods or services.

Buyers 52

Buyers supply chain budgeting Supply Chain Efficiency Procurement 52

Empowering CPO

JUNE 27, 2023

It provides invaluable insights into spending patterns, supplier performance, and opportunities for cost optimization. It allows organizations to understand their spending behavior, identify opportunities for consolidation and standardization, and ensure compliance with contract terms and negotiated pricing.

Procurement 52

Procurement Real-time Visibility Supply Chain Optimization Procurement strategies 52