Procurement Tactics

SEPTEMBER 8, 2022

Additionally, it should not be confused with strategic sourcing which is more focused on the long-term approach. Strategic sourcing promotes the timely supply of goods or services that are needed to meet the objectives of an organization. . The invoice is the final document in the procurement process. ENROLL NOW.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

Procurement Software

MARCH 16, 2025

Digital procurement solutions automate data entry , approvals, and document management, significantly reducing the administrative burden. You know that you shouldnt be paying Category Managers and Strategic Sourcing Managers their salaries to spend a third of their day on non-value-added tasks , but we all know it happens!

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

Procurement Tactics

MAY 24, 2023

Vendor scorecards are documents that allow businesses to evaluate the performance of a vendor over time. Strategic sourcing managers and procurement managers are typically responsible for managing supplier scorecards. Make use of the research that was conducted for these documents to guide your evaluation.

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Spend Matters

NOVEMBER 2, 2022

Categories: E-Sourcing , Procurement Systems & Architecture , Sourcing , Strategic Sourcing Tags: PRO This Spend Matters PRO Vendor Analysis provides an overview of Globality and its services sourcing solution. B2B vendors that use a B2C model are learning to create a fair, ethical model for sourcing services.

Sourcing 98

Sourcing Strategic sourcing Strategic sourcing Ethics 98

ivalua

AUGUST 16, 2021

Establish the strategic sourcing program objectives and identify the owners of these objectives. Define the attributes to be measured (including data sources) for each supplier life-cycle phase. Here are some recommendations when dealing with individuals and organizations. Secure executive sponsorship.

Risk 130

Risk Suppliers Management Supply Chain Efficiency 130

Procurement Leaders

JUNE 1, 2022

To ensure the function had the necessary skills and capacity to deliver on its aims, new teams were also created within the COE that focus on: Strategic sourcing Advanced analytics Capabilities development. All of the new teams were staffed and trained by the COE on new policies, procedures, and tools within a year.

Procurement 130

Procurement Strategic sourcing Strategic sourcing Leadership 130

Supply Chain Game Changer

AUGUST 24, 2021

This eliminates the physical handling of office documents by receiving and submitting fax documents online. In addition, supply chain analytics can boost inventory optimization and visibility, real-time product intelligence, and strategic sourcing. Robots And Automation.

Supply Chain Optimization 119

Supply Chain Optimization Supply Chain Efficiency Supply chain Real-time Visibility 119

Jaggaer

NOVEMBER 29, 2018

In a year full of recognition from industry analysts, JAGGAER was named by customers as a 2018 Gartner Peer Insights Customers’ Choice for Strategic Sourcing Application Suites. In order to be named a Customers’ Choice, a vendor must have a minimum of 50 published reviews with an average overall rating of 4.2 stars or higher.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 40

Arkestro

MAY 28, 2024

Procurement requests are a critical component of strategic sourcing and purchasing initiatives for businesses. Understanding the role of these documents during each phase of the procure-to-pay or source-to-pay process is a key step in designing an optimal and autonomous sourcing workflow.

Competitive bidding 52

Competitive bidding Procurement Strategic sourcing Strategic sourcing 52

Una

NOVEMBER 9, 2022

Pro Tip: Once you have completed your market research, produce a market summary document that details your key findings. Why Local Sourcing Makes Sense After COVID-19. Produce Tender Documents. Pro Tip: Your documents should distinguish between your specific requirements and personal preferences. Process Payment.

Procurement 98

Procurement supply chain budgeting Purchase orders Market analysis 98

Spend Matters

NOVEMBER 21, 2023

no-code/low-code) and process orchestration within/beyond source-to-pay. using LLMs to help translate the language called ‘legalese’ out of documents into rich commercial data), it’s neck-and-neck with the ‘intake management’ process. Although CLM seems to be the hottest area right now for GenAI (i.e.,

Strategy 111

Strategy Bidding Sourcing Stakeholder engagement 111

Jaggaer

OCTOBER 24, 2024

A supplier portal solution seamlessly integrated into your ERP system allows you to plan, execute, and document audits and tie quality management to upcoming purchases. Managing interdependence among suppliers : Supplier interdependencies can create uncertainties, such as competition between suppliers for limited resources.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

Bonfire

MARCH 17, 2023

Our panelists included: Hend Salem , Manager of Strategic Sourcing – Non Clinical at The Ottawa Hospital Carol Izzio , Director of Procurement at Sheridan College Christine McParland , Director of Residence and Ancillary Services at St. Are my procedures well-documented and specific? Are my documents version-controlled?

Risk management 52

Risk management Risk Management Procurement 52

ivalua

MARCH 4, 2016

Recently I attended a conference for Strategic Sourcing in the medical device manufacturing sector. Most organizations still have disparate systems like SharePoint, Access, Excel and Emails cobbled together to manage strategic supplier sourcing and supplier engagement processes and documents.

supply chain software solutions 100

supply chain software solutions Supply Chain Efficiency Supply chain Bill of materials 100

Procurement Tactics

AUGUST 23, 2022

Enhancing strategic sourcing through data analysis. A contract is a legally binding document which is why it needs to be well-researched and properly prepared. Effective contact management can help the organization in: Establishing a framework to streamline and standardize contract preparation, negotiations, and renewals. .

Contract management 130

Contract management Contract supply chain software solutions Management 130

Procurement Tactics

JUNE 28, 2023

Documents concerning the contracts shall also be undertaken. Furthermore, it enables businesses to implement strategic sourcing practices, strengthen their suppliers, and bargain volume of discounts through monitoring expenditure patterns and identification of cost drivers.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Una

DECEMBER 20, 2022

Your procurement team’s sourcing strategy might favor a strategic, project-based, long-term contract, or one-off spot-purchase approach. A strategic sourcing strategy is key to ensuring vendors with the potential to deliver the most value. Efficiency. How easily are buyers able to apply the correct procurement processes?

Management 98

Management Buyers Procurement team Contract 98

Procurement Insights

FEBRUARY 20, 2025

SAP Ariba : A leading procurement software company, SAP Ariba offers a comprehensive suite of solutions for supplier management, strategic sourcing, procurement, and financial supply chain management. While I will write a detailed piece on my assessment of his document, what Nadella is talking about is nothing new.

supply chain software solutions 52

supply chain software solutions Supply Chain Optimization Real-time Visibility Supply Chain Efficiency 52

Spend Matters

JULY 10, 2024

Luminance offers legal-grade AI for the full spectrum of document review to enhance and expedite the entire contract lifecycle process. Core Relish builds apps that strategically augment enterprise solutions, specifically offering one that addresses supplier information validation and enrichment and one that streamlines invoice digitization.

Procurement 114

Procurement Management Contract Sourcing 114

Strategic Sourceror

JULY 11, 2022

Tech-Enabled Solutions When S2P solutions are enabled with the latest technology, features like artificial intelligence support advanced capabilities through process automation and document processing. End-to-End Processing S2P solutions are designed with the full sourcing process in mind, extending capabilities and workflow visibility.

e2e 52

e2e supply chain budgeting supply chain software solutions Strategic sourcing 52

SCMDOJO

DECEMBER 14, 2023

READ MORE ON: “STRATEGIC SOURCING VS. PURCHASING – 7 KEY DIFFERENCES” at our website SCMDOJO! The Inner Workings of a Sourcing Agency: 1. Client Consultation: Understanding Needs The journey begins with a detailed consultation between the sourcing agency and the client.

Sourcing 104

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

ivalua

SEPTEMBER 2, 2019

The European Banking Authority (EBA) has published new guidelines on outsourcing , a document that has wide-ranging implications for every banking organisation, and requires careful consideration by procurement leaders and functions. Peter Smith, Managing Director, Procurement Excellence Ltd.

Procurement 140

Procurement Contract Risk Suppliers 140

ivalua

MARCH 15, 2016

Critical tribal knowledge is not documented. Take a look at Directworks and get a handle on what has proven to be possible when it comes to collaborating and engaging the right suppliers early and often in your strategic sourcing, product innovation, and launch cycles. Tha-Tha-That’s all Folks!

Real-time Visibility 100

Real-time Visibility Supply Chain Efficiency Suppliers Collaboration 100

SCMDOJO

FEBRUARY 13, 2023

Strategic sourcing: Procurement performs a market analysis to identify potential sources of supply and support the organization’s needs. Researching and documenting features and benefits of products and services for strategic decisions concerning procurement.

Procurement 87

Procurement Chief Procurement Officer supply chain budgeting Supply Chain Efficiency 87

Supply Chain Game Changer

NOVEMBER 23, 2018

I am a Strategic Sourcing & Supply Chain executive with close to three decades of experience spanning multiple industries including; High-Tech, Telecom, Banking, Financial Services and Consulting. The term Strategic Sourcing had yet to become reality and is only now gaining understanding. True story).

Leadership 80

Leadership Supply Chain Optimization Supply chain Strategic sourcing 80

Supply Chain Collaborator

MAY 23, 2018

As a result, transportation teams are afforded significantly more time to focus on strategic sourcing and data-driven rate negotiation activities that are needed to effectively offset rising costs in hyper-competitive market conditions. It’s important to note that TMS solutions won’t magically lower rates across the entire market.

Supply Chain Efficiency 17

Supply Chain Efficiency supply chain budgeting Freight Audit Logistics 17

Pipefy

JANUARY 31, 2023

These awards are legally binding source documents containing terms, conditions, and pricing of the goods or services. Change order An official source document making an alteration to a previously signed purchase order or contract for work. Sealed bids are used most often when the determining criteria is lowest price.

Procurement 52

Procurement Bidding Supply Chain Efficiency supply chain software solutions 52

Empowering CPO

DECEMBER 3, 2020

Non-collusion agreements Suppliers should be made to sign a non – collusion agreement as part of the bid documents. This helps achieve higher strategic sourcing project savings and support category management on an ongoing basis. This may help you to break the cartel.

Bidding 52

Bidding Chief Procurement Officer Strategic sourcing Strategic sourcing 52

Planergy

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Knowing when to use which document for what purpose can dramatically improve your procurement process. Use this document when you have an idea of what you want, but require more information from suppliers. Written by.

Buyers 52

Buyers Supply Chain Efficiency Price Suppliers 52

Strategic Sourceror

FEBRUARY 1, 2023

Poor chicken feed quality Although the evidence is more anecdotal than documented, some poultry farmers have claimed their hens aren't laying any eggs. While these respective measures have diminished more recently — down nearly 2% in December for the FPI and 0.1% Brought to you by the StrategicSourceror.

Price 62

Price Strategic sourcing Strategic sourcing Procurement 62

Supply Chain Game Changer

OCTOBER 28, 2021

Magnus Carlsson’s book, Strategic Sourcing and Category Management: Lessons Learned at IKEA is a masterful composition and guideline of how a procurement and sourcing organization can start building a quality infrastructure by gaining inspiration from IKEA’s procurement triumphs and failures.

supply chain budgeting 89

supply chain budgeting Procurement Supply Chain Efficiency e2e 89

Supply Chain Collaborator

MAY 23, 2018

As a result, transportation teams are afforded significantly more time to focus on strategic sourcing and data-driven rate negotiation activities that are needed to effectively offset rising costs in hyper-competitive market conditions. It’s important to note that TMS solutions won’t magically lower rates across the entire market.

Supply Chain Efficiency 74

Supply Chain Efficiency supply chain budgeting Freight Audit Logistics 74

Planergy

MARCH 10, 2025

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Data management systems simplify this task by ensuring that all necessary compliance recordssuch as attendance logs, performance metrics, and financial documentation and reporting are systematically stored and easily accessible.

Data 52

Data Management Budget Real-time Visibility 52

Planergy

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Cristian Maradiaga King Ocean Book a Live Demo Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend.

supply chain budgeting 92

supply chain budgeting Budget Real-time Visibility Spend management 92

World of Procurement blog

MAY 10, 2024

This supports strategic sourcing efforts. With the ability to handle huge volumes of data, operate 24/7, and continuously learn from experience, AI can bring new levels of speed, efficiency, and insight to procurement teams looking to transform strategic sourcing, supplier management, and end-to-end procurement processes.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

Supply Chain Game Changer

NOVEMBER 17, 2018

The first huge project I was part of at Dell was our transformation from paper documents in the computer boxes for businesses to what we called E-Docs for electronic documentation. We restructured all of the documents and created one of the first service-oriented websites so all of the information was available on line.

Leadership 74

Leadership Supply Chain Optimization Supply chain Supply 74

The Good Spending

APRIL 3, 2022

A critical mistake occurs when category management stays away from strategic sourcing operations. Step 2: Category management strategy This crucial document to proactively lead the cross-functional collaboration in the category domain. Category management is an integral part of the "plan-to-procure" cycle.

Category management 52

Category management Demand Management Procurement 52