Procurement Templates
DECEMBER 11, 2024
It’s been a very long time since I’ve had to consider about procurement objectives. Here are some typical procurement objectives that every procurement professional should consider. Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Savings can be cashable or non cashable i.e. cost avoidance.
All Things Supply Chain
DECEMBER 11, 2024
Resilience in supply chain management is essential for keeping businesses steady amid global disruptions like natural disasters, geopolitical shifts and economic shocks.
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Spend Matters
DECEMBER 10, 2024
In todays interconnected business landscape, companies rely on suppliers and service providers for core procure-to-pay (P2P) activities, including order processing, invoicing and payments. This dependency, while essential, introduces potential risks that can lead to operational delays, regulatory penalties and financial instability if not effectively managed.
Procurement Insights
DECEMBER 11, 2024
EDITOR’S NOTE: I am under embargo regarding the advanced copy I received from ZIP with their Procurement Predictions for 2025. So, I thought I would make a little prognostication myself. for 2030. There is, however, a twist. I have gone through the Procurement Insights archive of 2,410 posts from 2007 to today to provide what I believe will be a unique context explaining the evolution of predictions over the past couple of decades.
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Jaggaer
DECEMBER 12, 2024
JAGGAER One 24.3 enables procurement, finance and supply chain to collectively boost cost savings, make better decisions, and accelerate digital innovation RESEARCH TRIANGLE, NC – JAGGAER , a global leader in enterprise procurement and supplier collaboration, today announces the 24.3 version of its JAGGAER One platform. This latest release expands ten years of AI-enabled solution capabilities and enhancements that gives users the ability to work faster and easily leverage strategic insight
All Things Supply Chain
DECEMBER 9, 2024
Maritime shipping remains the backbone of global trade, with container ships transporting goods across the oceans every day.
Purchasing & Procurement Zone brings together the best content for professionals in the purchasing and procurement field from the widest variety of thought leaders.
Positive Purchasing
DECEMBER 11, 2024
Negotiations can often feel challenging, especially when external factors seem to diminish your leverage. However, with the right strategies, you can reclaim your negotiation power and achieve favourable terms. Here are 5 steps to help you navigate negotiations effectively and regain control. Negotiation dynamics can shift unexpectedly, making it difficult to secure desired outcomes.
Barkers Procurement
DECEMBER 12, 2024
With NATO calling for more industrial production , CPOs in aerospace and defence (A&D) are under more pressure than ever to deliver. Meeting the call wont be easy. It will require careful planning across multiple areas, not the least of which is supplier relations. And this is where CPOs must take heed: while relationships with key suppliers are crucial, smaller businesses must not be neglected.
Procurement Insights
DECEMBER 12, 2024
Question: Why is the build versus buy debate a moot exercise? Answer: Why are practitioners ultimately responsible for the success of their ProcureTech initiative? EDITOR’S NOTE: While the following post references the utility industry, the same approach and mindset apply to any practitioner in any sector – private and public. I am inviting my first-level connections in the utility industry to watch this interview with James Carithers , Peak Utility Services Group ‘s COO.
Jaggaer
DECEMBER 13, 2024
Understanding Procure-to-Pay (P2P) Strategies and Solutions Procure-to-pay (P2P) is a crucial process for organizations looking to streamline procurement, improve financial management, and enhance supplier relationships. We break down the entire P2P process, including steps, solutions, and related processes like source-to-pay and order-to-cash. Dive into these essential insights to gain a clear understanding of how P2P can optimize your procurement workflow.
Advertiser: GEP
As early as next year, procurement and supply chain operations will begin to adopt AI agents, often called “agentic AI,” to work alongside employees to make and execute decisions with precision across procurement and even the most complex global supply chains. Unlike LLM-based generative AI tools such as ChatGPT, these AI agents do not require prompts from humans.
Planergy
DECEMBER 13, 2024
The post Expense Receipts: What Are They and Why Tracking Proof of Purchase for Business Expenses Is Important appeared first on PLANERGY Software.
CPO Rising
DECEMBER 13, 2024
Did you miss Ardent Partners’ recent webinar,Cast a Wider Net: Leveraging Innovation to Expand Procurements Influence and Impact,that shed light on how procurement can deliver greater value by focusing on… The post Part Two: Expanding Procurement’s Influence Bridging Complexity with Orchestration appeared first on CPO RISING - THE SITE FOR CHIEF PROCUREMENT OFFICERS & LEADERS IN SUPPLY MANAGEMENT.
ContractSafe
DECEMBER 12, 2024
Service agreements are the foundation of successful business relationships between companies and their service providers. These powerful contracts help bring clarity, protection and structure. Think of them as a road map that helps both parties understand their obligations and work together effectively toward shared objectives.
Jaggaer
DECEMBER 13, 2024
Order-to-Cash vs. Procure -to-Pay: A Comprehensive Overview While Procure-to-Pay (P2P) is widely recognized as a key process in managing organizational spend, its counterpart on the revenue side, Order-to-Cash (O2C), often raises the question s : whats the difference and how does it fit into the bigger picture? P rocure-to-pay ( P2P ), the downstream part of the end-to-end supplier management and procurement process, focuses on the expenditure side of the business.
Speaker: Eric Berdinis, Ran Sun, & Chris Chmielewski
Procuring freight can be cumbersome, time-consuming, and error-prone. If you’re frustrated with the complex and manual processes for obtaining bids for your contract and spot freight, you’re not alone. In today’s fast-moving supply chain environment, optimizing these processes is critical to staying competitive and cutting costs. Join this exclusive webinar with experts from Uber Freight to learn how the latest digital tools and automation can transform your freight procurement strategy by strea
Procurement Insights
DECEMBER 12, 2024
What’s Missing From The Following Slide? In Another Discussion Stream – A Possible Answer To The Above Question? JWH – There are some situations where a simple plug & play buy solution makes sense. There are also situations where a build-it-yourself solution strategy is more appropriate. However, a hybrid approach using an agent-based development and implementation model in which the practitioner takes the lead exponentially increases the likelihood of initiative success, r
Positive Purchasing
DECEMBER 11, 2024
Procleus, Capella and Ruby Named Top Software Solutions For Mid-Market Business In the bustling landscape of procurement technology, our suite of digital platforms including Procleus, Capella and Ruby, have earned a prominent spot on ProcurementSoftware.site ‘s Procurement Tech Map for mid-market businesses. Thistech map focuses on companies with revenues between $50 million and $1 billion, helping to simplify a complex landscape of procurement technology solutions tailored specifically fo
NLPA (Next Level Purchasing Association)
DECEMBER 11, 2024
If theres one thing weve learned in 2024, its that effective procurement strategies can make all the difference in a teams success. Whether its about navigating complex supplier relationships, managing costs, or preparing for unpredictable challenges, procurement leaders have shown that adaptability and innovation are key. As 2025 approaches, its time to look back at what worked well and how we can build on those successes for the year ahead.
Jaggaer
DECEMBER 13, 2024
Understanding P2P: The Core of Effective Procurement The procure -to-pay (P2P) process drives purchasing efficiency for organizations of all sizes, covering every stage from initial requisition to final payment. This end-to-end workflow , typically managed by procurement and finance teams, ensures compliance, efficiency, and transparency across transactions.
Speaker: Shalini Dinesh
Effective cross-functional collaboration and communication heavily influence product launch success. Research shows that as many as 70% of product launches fail due to inadequate coordination among stakeholders, including supply chain, product management, legal, marketing, and change control teams (Gartner, 2022). The 2023 Supply Chain Insights Report highlights that 60% of supply chain disruptions are caused by poor communication and misalignment among cross-functional teams.
Pipefy
DECEMBER 11, 2024
Intelligent bots are revolutionizing operational efficiency, allowing companies to manage processes with agility, precision, and cost reduction. These digital tools, powered by artificial intelligence, have become indispensable for driving business evolution. From operational tasks to strategic support, intelligent bots offer tailored solutions for those who need to save time, maximize resources, and increase productivity without compromising efficiency.
Negotiations Ninja
DECEMBER 11, 2024
Want to break into the lucrative world of industrial sales? It’s a whole different ball game compared to selling directly to consumers. To succeed, you need specialized knowledge and a unique skill set. That’s where industrial sales training comes in.
Procurement Insights
DECEMBER 10, 2024
The Cast: Montreal Canadien Jersey – Generative AI Boston Bruins Jersey – ProcureTech Solution Provider Bear – Procurement Professional 30
Jaggaer
DECEMBER 13, 2024
What is Procure to Pay (P2P)? Procure-to-Pay commonly known as P2P, encompasses the entire cycle of buying activities from identifying a need for goods or services to completing payment to a supplier. Its an integrated, end-to-end process that unifies procurement and finance, helping organizations streamline purchasing, minimize delays, and ensure timely payments.
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Procurement Talk with David Byrne
DECEMBER 12, 2024
Listen on Apple Podcasts Listen on Spotify Watch on YouTube Summary On this episode, Martin Smith interviews John Butcher, the Procurement Director at Just Eat Takeaway. John shares his journey of building a procurement team from scratch, the challenges he faced, and the importance of hiring the right talent. He discusses the evolving procurement … Continued The post Continuous learning and adaptation: Steps to success from Just Eat – Episode 105 appeared first on Talent Drive.
Let's Talk Supply Chain
DECEMBER 9, 2024
Today Im joined by supply chain software brand Manhattan Associates. Manhattan provide more than just supply chain solutions. Through advanced cloud-native technology, and a cutting-edge vision for supply chain unification, Manhattans team of experienced industry experts are dedicated to equipping their partners with the tools needed to navigate the supply chain commerce world effectively.
Procurement Insights
DECEMBER 11, 2024
Overview In an informal interview, Jon Hansen, an industry analyst, spoke with a Senior Executive from the Finance sector about the successful implementation of Focal Point as a configurable solution for his company, which has relied on Ivalua for over a decade. While he is not officially representing his company, the executive emphasized that he discussed the key challenges Focal Point aims to address, including improving visibility into ad hoc requests, enhancing renewal management, and enabli
Jaggaer
DECEMBER 13, 2024
What are P2P solutions? Procure-to-pay i s a specific subdivision of the procurement pr ocess. Whereas source-to-contract describe s upstream processes, includ ing sourcing and contract management, procure-to-pay refers to the downstream activities involved in actually acquiring goods and services. P rocure-to-pay solutions create approval flows that ensure the savings negotiated during the upstream S2C part of the procurement process are delivered to the companys bottom line.
Advertiser: GEP
Financial institutions must navigate a complex web of policies, procedures and regulations to ensure compliance and manage risk. When Hellenic Bank, a leading retail lender in Cyprus, set out to transform its procurement operations, it needed more than just software deployment. It required a partner that would help embed its intricate buying processes — with all its validations, risk assessments and tiered approvals — into a unified system.
CPO Rising
DECEMBER 11, 2024
Welcome to Procurement News, part of our ongoing aggregate news series covering recent supply management headlines and trends pertinent to Chief Procurement Officers and other procurement leaders! Contact us with… The post Procurement News December 11, 2024 appeared first on CPO RISING - THE SITE FOR CHIEF PROCUREMENT OFFICERS & LEADERS IN SUPPLY MANAGEMENT.
Fraxion
DECEMBER 13, 2024
Case study: The Hotchkiss School By transitioning from a manual, paper-based purchasing process to automated workflows via Fraxion's spend management software, The Hotchkiss School aligned their faculty, finance, purchasing, and IT departments, streamlining operations even as they handled a 170% increase in processed purchase orders.
Procurement Insights
DECEMBER 9, 2024
Here is the link to yesterday’s post – Is Generative AI A Threat To ProcureTech SolutionProviders? If you haven’t yet read it, please do so. It provides essential context for today’s post. “The adoption of Generative AI (GenAI) in procurement is accelerating, with a significant number of ProcureTech solution providers promoting its benefits.” (Source: ChatGPT) In yesterday’s post, I assessed several ProcureTech solution providers.
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. The bulk of this confusion is caused by only have a partial view of the total process and where we fit into it.
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Are fragmented control towers hindering your supply chain’s growth and response time? Attempting to manage disruptions through various departmental control towers with basic analytic overlays hinders agility and, ultimately, your resiliency. Today’s volatile landscape requires inherent visibility across your entire value chain and the ability to orchestrate course corrections within a unified platform.
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