SCMDOJO

JANUARY 9, 2025

Innovative Solutions: Enhancing Procurement Efficiency While strategic sourcing focuses on supplier relationships and long-term goals, innovative solutions bring technology-driven efficiency and insight to procurement processes. Moreover, early warnings allow procurement teams to take pre-emptive actions, ensuring continuity of supply.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Procurement 98

Procurement Leaders

AUGUST 19, 2024

Data has become the lifeblood of business. The challenge, as we all well know, is finding the right data, at the right time, and applying it to the right situations to elevate both the quality and impact of decision-making. This is, of course, a two-way street: data challenges are in no way unique to CPOs and their teams.

Data 130

Data Price negotiations Procurement team Procurement 130

ivalua

OCTOBER 18, 2022

The business case for data-driven transparency is not hard to make. In today’s dynamic, complex market, where procurement’s objectives continue to grow, data is the fuel for success. While data quality cannot be perfected and some technological innovations aren’t quite ready for prime time, tremendous improvements are possible.

Supply Chain Efficiency 130

Supply Chain Efficiency Data Procurement Supply Chain Visibility 130

ivalua

FEBRUARY 10, 2023

How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy. The key for procurement teams is to stay ahead of inflationary trends so they can anticipate needs and adjust accordingly before problems arise.

Price 264

Price Strategy Sourcing Real-time Visibility 264

Spend Matters

JANUARY 8, 2025

As procurement becomes increasingly strategic and digital, intake and orchestration processes require intricate coordination across various departments, tools and data sources.

Market analysis 111

Market analysis Procurement team Sourcing Buyers 111

Spend Matters

MARCH 25, 2025

Identifying key stakeholders Procurement operates within a complex ecosystem where multiple internal and external stakeholders hold different levels of influence. Internally, procurement teams must collaborate closely with finance, IT, legal and operational leadership, each with distinct priorities and decision-making authority.

Stakeholder engagement 91

Stakeholder engagement Management Procurement Influencing 91

Spend Matters

JANUARY 7, 2025

What customers prioritize when investing in procuretech At Prewave, we find that our customers adopt a structured approach to their ESG and sustainability obligations, which is why its important to provide procuretech solutions that provide a clear, data-driven overview on environmental, social and governance issues.

supply chain software solutions 114

supply chain software solutions Supply Chain Efficiency Procurement Raw materials 114

ivalua

MAY 31, 2022

Reviewing pandemic responses and strategies, some CPOs and Procurement teams managed a bit better than their peers as uncertainty and change mounted. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. . Why is Supplier Information so important?

Suppliers 246

Suppliers Supplier relationship management supply chain software solutions Agile and Lean Supply Chain 246

ivalua

JUNE 4, 2020

In this article we’ll review how supplier management capabilities in Source-to-Pay technology can free-up and enable a manufacturer’s direct material procurement team to do what they do best to ensure the supply chain remains resilient and agile: be creative and strategic. Supplier Data Quality & Management in Decision Making.

Agile and Lean Supply Chain 173

Agile and Lean Supply Chain Supply chain resilience Supply Chain Efficiency Supply chain 173

Spend Matters

FEBRUARY 13, 2025

As many procurement professionals have discovered, transforming your processes to meet todays challenges in an effective manner is not as simple as writing a new mission statement. The success of the Procurement team at Utz Brands, Inc. , For the most part, this did not prove a problem.

Influencing 101

Influencing Procurement supply chain budgeting Strategic sourcing 101

Spend Matters

OCTOBER 31, 2024

“In financial services for example,” says Stephen, “the biggest risk concerns are around cyber attacks and data breaches. Larger firms might have a procurement team, a risk and resilience team, a legal and compliance group, an IT team and so on.

Risk management 114

Risk management Risk Import Real-time Visibility 114

Procurement Software

MARCH 16, 2025

Digital procurement tools offer both immediate benefits and long-term returns. While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. As a result of better data, procurement teams gain a whole range of benefits.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

ivalua

JANUARY 8, 2023

For procurement organizations, the German Supply Chain Act presents both challenges and opportunities. The new set of regulations add an additional layer of compliance and risk management to the procurement process. Further, it is essential that supplier management and data is holistic (i.e.,

supply chain software solutions 244

supply chain software solutions Supply Chain Efficiency Supply chain Procurement 244

Jaggaer

MARCH 24, 2025

Gen AI & Predictive AI: Enhancing Decision-Making with Smarter Automation Why Its Critical: Gen AI and Predictive AI are transforming procurement by automating not just tasks, but the decision-making process. Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supply chain risks.

Procurement 52

Procurement Supply Chain Optimization Real-time Visibility supply chain budgeting 52

Spend Matters

FEBRUARY 26, 2025

Recent successes include: In 2024, 321 new government procurement teams were onboarded. And in collaboration with NIGPs RMGPA chapter and Colorados OEDIT department, SOVRA will host The Small Business Showcase at the NIGP Forum in Denver to highlight small businesses looking to expand their presence in public procurement.

Procurement 116

Procurement Bidding Contract management Data 116

Supply Chain Brain

APRIL 17, 2024

Procurement teams across the globe are stepping up, adapting and innovating amid whispers — and sometimes shouts — of economic uncertainty.

Data 109

Data Procurement team Innovation Procurement 109

Procurement Insights

FEBRUARY 18, 2025

In ProcureTech , the phrase “Cant build a house on a cracked foundation” means you cannot successfully implement AI-driven procurement solutions (or digital transformation) if the underlying procurement processes, data, and strategy are flawed. Lesson: Fix data governance before implementing AI.

Procurement team 52

Procurement team Procurement solutions Contract management Quality 52

Arkestro

DECEMBER 5, 2024

Cutting-edge advancements in artificial intelligence (AI), machine learning (ML), game theory, analytics, cloud computing, and big data are becoming deeply ingrained into manufacturing processes. It leverages advanced technologies to optimize and automate procurement cycles and predict more favorable outcomes.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply Chain Efficiency Supply chain resilience 52

Arkestro

DECEMBER 26, 2024

Resources / Blog / 5 Procurement Industry Trends to Watch in 2025 5 Procurement Industry Trends to Watch in 2025 In recent years, the procurement industry has undergone unprecedented transformations driven by the adoption of digital transformation, big data, and advanced technology like artificial intelligence (AI), machine learning, and automation.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Procurement Insights

JANUARY 27, 2025

.” Now consider the following comments I have been receiving from procurement executives: “More recently, my procurement team(s) have been significantly impacted and running with a much leaner team resulting in my being asked to “do more with less.”

Import 78

Import Procurement Procurement team Data 78

Spend Matters

FEBRUARY 9, 2025

Heres why RapidRatings matters: To the market RapidRatings provides a financial risk analysis solution that evaluates suppliers’ financial health through detailed analysis of their financial statements, enabling procurement teams to assess and mitigate supplier financial risk effectively.

Risk 88

Risk Procurement team Suppliers Buyers 88

ivalua

SEPTEMBER 25, 2020

Challenges in hiring digital skills in procurement. As part of ongoing digital transformation efforts in procurement, the report found that UK businesses have started to introduce new technologies such as data analytics (55%), cloud-based platforms (53%), automation (35%) and AI/machine learning (30%) in the last 12 months.

Procurement 188

Procurement Procurement team Risk Spend management 188

Procurement Leaders

SEPTEMBER 8, 2022

Fast forward a few months, and with those same events continuing to challenge procurement teams, leaders have revealed what it is that they want. Instead, developing team skills and talent tops CPOs’ agenda for the coming 12 months. It caps a growing recognition of the importance of the people staffing today’s procurement teams.

Supply Chain Efficiency 195

Supply Chain Efficiency Procurement team Buyers Procurement 195

ivalua

DECEMBER 21, 2021

Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.

Contract 130

Contract Sourcing Suppliers Data 130

Skill Dynamics

JANUARY 14, 2025

Procurement is often an overlooked area within organizations, working behind the scenes to ensure businesses have the goods and services they need to operate at their best. Considering its importance, it makes sense that modern procurement teams have a structured approach to developing essential skills and capabilities.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

Spend Matters

MARCH 6, 2025

It combines AI-powered features with user-friendly design to deliver actionable insights, streamline workflows and foster collaboration through a responsible and ethical use of data. Here’s how: Unified access to data: Raindrop aggregates information from various sources, providing decision makers with a single source of truth.

Supply Chain Efficiency 72

Supply Chain Efficiency Procurement Chief Procurement Officer Stakeholder engagement 72

Procurement Insights

MARCH 17, 2025

While detailed, up-to-the-minute data on both companies 2025 capabilities isnt fully public, I can provide a comparison grounded in their known focuses, inferred functionalities, and how they align with procurement needs. Founded : Established in 2000, with a long-standing presence in procurement. Key Comparison Points 1.

Negotiation 52

Negotiation Procurement team Real-time Visibility Cost of ownership 52

Procurement Insights

FEBRUARY 21, 2025

Key Features of a Metaprise: Beyond a Single Company: Instead of just managing procurement within one company, a Metaprise integrates multiple businesses, suppliers, and partners into one unified system. Interoperability: Supports multi-enterprise collaboration , ensuring different procurement platforms work together as one.

Supply Chain Optimization 75

Supply Chain Optimization Contract management Networking Contract 75

Procurement Insights

JULY 10, 2024

Ask a simple question – what is clean data? Organizations want to fix their supplier data, but they don’t know where to start.” ” A Dewey Decimal Classification System For Procurement? What Is Real “Data Trust” Many years ago, a major U.S.

Data 80

Data Suppliers Buyers Quality 80

ivalua

NOVEMBER 28, 2022

A digitised, data-driven approach to supply chain management is a prerequisite for actionable scenario planning and agility. Yet, according to a study from Procurious , only 24% of executive teams have fast-tracked investments in new technology for procurement.”. ” About the research.

Agile and Lean Supply Chain 279

Agile and Lean Supply Chain Supply chain Supply Spend management 279

Spend Matters

JULY 11, 2024

Over 50% of organizations have automated their procurement processes, with around 35% using AI in procurement — an impressive increase from 29% in 2020. This evolution enables procurement teams to make superior decisions, initiate more events and cover broader ground without additional resources.

Procurement 120

Procurement Procurement team Suppliers Influencing 120

Procurement Templates

DECEMBER 11, 2024

Automate supplier evaluation using real-time data. By integrating these advanced procurement practices, a procurement team can transform from a cost center to a strategic business driver , delivering exceptional results far beyond conventional objectives.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Cost of ownership 130

ivalua

JANUARY 29, 2021

Therefore, the survey gives a fascinating insight into the impact that the pandemic has had on procurement teams globally. “70% 70% of respondents maintained or increased digital procurement investment post covid” .

Suppliers 195

Suppliers Bill of materials Procurement team Risk management 195

SCMDOJO

SEPTEMBER 7, 2021

Nowadays, no one could deny that, businesses today expect procurement teams to drive value beyond cost savings. As a consequence, procurement leaders are constantly looking for ways in order to enhance their procurement process and make it more sustainable. And so, they track an array of metrics such as KPIs.

Procurement 144

Procurement Procurement team Sustainability Data 144

SCMDOJO

FEBRUARY 16, 2025

From rule-based systems to predictive analytics and the generative AI boom, businesses have leveraged these technologies to optimize operations, forecast trends, and create data-driven strategies. Analyzes IoT sensor data, weather forecasts, and vehicle performance metrics. AI is evolving rapidly.

Supply Chain Efficiency 72

Supply Chain Efficiency Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 72

Jaggaer

DECEMBER 5, 2024

What This Means for Procurement: Procurement teams need tools that provide real-time tracking and end-to-end transparency across the supply chain. Supply chains generate immense volumes of data daily, but without effective tools, this data remains underutilized.

Supply Chain Efficiency 52

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

Arkestro

NOVEMBER 12, 2024

In response to these shifting needs, enterprise resource planning (ERP) systems and Source-to-Pay (S2P) platforms have played a pivotal role in enabling procurement teams to manage non-strategic or low-priority spend more efficiently. While this approach saves time and effort, it also comes with inherent risks.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52