Procurement Tactics

AUGUST 23, 2022

Contract Management Process — Everything You Should Know. The contract management process is an essential part of the organization to handle contracts with its third parties. For this article, we will talk about what the contract management process is. So without further ado, let’s start uncovering contract management. .

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IBM Supply Chain Blog

DECEMBER 13, 2023

The role of procurement extends beyond transactional activities. 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. What is a procurement strategy?

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Procurement Tactics

AUGUST 19, 2022

Vendor Management Best Practices — The Ultimate Guide of 2022. Vendor management best practices are utilized to boost business growth and productivity. For this article, we will discuss what the best practices in vendor management are. We will also share the benefits of vendor management that will captivate you to use it. .

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Jaggaer

FEBRUARY 5, 2025

JAGGAER characterizes the steps in this process as Spend Management, Category Management, Sourcing , and Contracts. These four steps constitute the downstream procure-to-pay part of the process. Any organization that manages procurement at scale can benefit from digitally transforming its source-to-pay (S2P) process.

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Procurement Tactics

DECEMBER 7, 2022

The financial supply chain is new to many procurement professionals, especially those who have just started their journey in the procurement and supply chain industry. . We will tell you how it works and how you can manage it. Additionally, we will discuss the three processes of financial supply chain management.

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IBM Supply Chain Blog

FEBRUARY 28, 2024

Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits. Now, sourcing and procurement professionals are reaping the rewards of such automation: streamlining workflows, boosting the bottom line and finding efficiencies.

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Spend Matters

AUGUST 21, 2024

Intake management and orchestration solutions are the newest procurement tools on the market. As described by our analysts : Intake management is not just about the actual request itself but ensuring that the request flows smoothly along its workflows, from department to department and (when applicable) technology to technology.

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ivalua

MARCH 9, 2023

Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. ​ It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. What is Source-to-Pay?

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Spend Matters

OCTOBER 4, 2023

The power of supplier diversity in procurement: Driving business success through inclusion — Whether they are carrying out their own CSR strategy or responding to third-party initiatives and demands, businesses have their role to play in encouraging greater diversity among their suppliers.

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Spend Matters

OCTOBER 26, 2023

We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. akirolabs is a category strategy management solution that aims to support procurement’s transformation from being a purely tactical function to an orchestrator of value.

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Una

MAY 11, 2023

At the other end of the curve, managers of highly mature procurement functions have to work much harder to get access to increasingly out-of-reach fruit. This includes everything from identifying suppliers to negotiating contracts to managing supplier relationships.

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Value Match

JULY 21, 2022

Bid Management. Procurement Best Practice. Procurement Best Practice. Procurement Policy Notes. Procurement Strategy. Responsible Organisational Management. The Cabinet Office recently published a new policy paper entitled “ Transforming Public Procurement – our transparency ambition ”.

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Una

JULY 28, 2022

Partnering with the IT team will help procurement balance specific IT requirements with best value for the business. Understanding the technology is essential, otherwise procurement will be working in the dark trying to source an IT product they do not really understand. IT managers can be territorial, too. Related Posts.

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Jaggaer

NOVEMBER 20, 2018

If you think about it, the strategy of planning for a Thanksgiving gathering is very similar to devising and executing a procurement strategy. Critical Factors —Risk management such as planning for additional guests and forgotten food items; considering alternate plans for missing ingredients; and managing waste and food safety.

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Jaggaer

DECEMBER 13, 2024

Its an integrated, end-to-end process that unifies procurement and finance, helping organizations streamline purchasing, minimize delays, and ensure timely payments. A well-managed P2P process improves operational efficiency, controls costs, and enhances compliance with procurement policies.

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Empowering CPO

JULY 16, 2023

Introduction Brief Explanation of Managed Procurement Services In today’s interconnected business world, the seamless acquisition of goods and services is paramount to the smooth operation of any organization. This is where managed procurement services come into the picture.

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Pipefy

JANUARY 11, 2023

In this post, we’ll explore what procurement transformation is, why it’s needed, and how it can help procurement teams meet changing needs and manage ever-evolving processes. Build better processes with the Definitive Guide to Workflow Management Download now. What is procurement transformation?

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Pipefy

MAY 23, 2023

Build better procure-to-pay processes with the Definitive Guide to P2P Optimization Download now Procurement automation opportunities Purchase requisitions An employee sees a need, creates a purchase requisition to obtain those goods or services, and circulates that requisition through multiple levels of personnel for approval.

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Pipefy

DECEMBER 20, 2023

What is strategic procurement? Strategic procurement, or procurement strategic planning, is a process that aligns procurement strategy with business goals so as to yield business benefits through procurement. It also benefits end-to-end procurement management since visibility and transparency are emphasized.

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Empowering CPO

JULY 16, 2023

Introduction Brief Explanation of Managed Procurement Services In today’s interconnected business world, the seamless acquisition of goods and services is paramount to the smooth operation of any organization. This is where managed procurement services come into the picture.

Supply Chain Efficiency 52

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Pipefy

JANUARY 5, 2023

Build better procurement processes with the Definitive Guide to Workflow Management Download now. What is digital procurement? Digital procurement is the use of technology to optimize and automate procurement processes and workflows. Benefits of digital procurement. Accelerating integrated procurement.

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Pipefy

NOVEMBER 24, 2023

Procurement solutions encompass a wide range of specific functions due to the many aspects of the procurement process, including purchase requests centralization, procure-to-pay, sourcing, budget management, supplier management, and forecasting. What are e-procurement tools?

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Pipefy

JUNE 14, 2023

Spend analysis in procurement provides teams with actionable insights and improvements to optimize existing procurement processes, reduce costs, increase efficiency, generate bottom-line business value, and grow competitive advantages. Spend analytics creates the visibility procurement teams need to complete a spend analysis.

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Claritum

NOVEMBER 16, 2018

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. Procurement is a complex multidisciplinary team activity that crosses all areas of the business. Managing money well.

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Procurement Software

MAY 14, 2024

Intake and procurement process orchestration is all about managing stakeholders as they navigate through the procurement process. Procurement is an intricate operation, with many moving parts and stakeholders, each playing a critical role in the harmony of your business operations. What is procurement intake?

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Empowering CPO

JUNE 25, 2023

It’s a delicate balancing act, where businesses must juggle quality, cost, supplier relationships, and risk management, all while keeping an eye on their bottom line. As such, procurement plays a critical role in a company’s operational efficiency, financial performance, and overall competitiveness.

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HICX

AUGUST 4, 2022

We took the opportunity at World Procurement Congress 2022 to ask leading practitioners and supplier experience experts for their thoughts on what this means for how we work with suppliers and the importance of understanding the suppliers’ perspective. Suppliers’ Perspective: Why it Matters?

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Procurement Software

JUNE 4, 2024

While procurement technology for indirect spend continues to flourish, we’re now also seeing a new wave of great tech platforms for direct spend and component parts. As supply chain technology improves for transportation, inventory management and warehousing, the procurement tools for manufacturing businesses now need to step up.

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Procurement Software

FEBRUARY 6, 2024

Trackado Trackado is one of a few Nordic procurement startups based in Sweden. The company offers a simple and competitively priced contract management solution. The solution also includes ready-made dashboards, KPIs, and intuitive case management to uncover and act on opportunities quickly.

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Claritum

AUGUST 4, 2020

Within this environment, the Procurement has to remain focused on. It is procurement at the heart of any impact on P&L. Financial management within Procurement is therefore of critical importance. multi-disciplined sport of procurement are daunting. Address procurment strategy.

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Pipefy

MAY 9, 2023

Monitoring procurement KPIs is a vital part of keeping track of an organization’s overall health and the smaller endeavors that contribute to that. 22 KPIs every procurement team should track As procurement has evolved so has the work of procurement teams, and especially so in recent years.

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HICX

NOVEMBER 29, 2022

As Adam Brown , Managing Director, Procurement Strategy & Digital Transformation at Maersk , points out in a recent interview with HICX, “The sheer multitude of touchpoints for suppliers when transacting with many large enterprises can create confusion and inefficiencies.”?. Suppliers find managing the accounts difficult.

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Spend Matters

AUGUST 10, 2023

In today’s business landscape, effective digital procurement strategies are vital for organizations to optimize spend, enhance operational efficiency and address risk while maintaining an ideal user experience. One area of significant potential that is often overlooked is tail spend management.

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