World of Procurement blog

MAY 10, 2024

The Promise of AI for Procurement Teams Artificial intelligence (AI) has the potential to transform and revolutionize procurement processes. By combining spend visibility with insights from AI, procurement teams are better equipped to implement category-specific cost savings initiatives.

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Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

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. Promote efficiency: AI-driven automation reduces the time spent on manual tasks, allowing procurement teams to focus on strategic initiatives.

Supply Chain Efficiency 72

Supply Chain Efficiency Procurement Chief Procurement Officer Stakeholder engagement 72

Procurement Insights

JANUARY 3, 2025

Digital Transformation Begins : Increasing adoption of procurement technologies, such as e-sourcing platforms , spend analytics , and contract lifecycle management tools , enhanced procurement’s ability to provide data-driven insights. Procurements ability to leverage data insights improved decision-making in IT investments.

Agile and Lean Supply Chain 52

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

Procurement Tactics

MAY 2, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Sustainable Contracts — Embracing Sustainability in Procurement Sustainable contracts allow companies to oblige their suppliers to practice sustainable and ethical practices once they sign them.

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Sustainability Contract Procurement Negotiation 181

Procurement Insights

APRIL 12, 2025

Joule frees procurement teams for strategic roles (e.g., Human Replacement: Icertis views AI as collaborative, automating 80% of contract drafting but requiring humans for final approvals and ethics (e.g., It explicitly states that AI enhances, not replaces, procurement roles. Human Replacement?: cosmetics $0.07/unit

Real-time Visibility 52

Real-time Visibility Ethics Contract Suppliers 52

Procurement Templates

APRIL 15, 2024

Communicate Vision: Share the vision and objectives with the procurement team and stakeholders to gain buy-in and alignment. Stage 4: Process Improvement Days 31-40 Streamline Processes: Implement improvements to streamline procurement processes, reduce inefficiencies, and enhance compliance.

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Procurement team Contract management Innovation Contract 130

Supply Chain Game Changer

JANUARY 30, 2019

Procurement bridges the gap between product, internal stakeholders and customers. In order to support the weight of internal and external expectations, Procurement teams must be prepared to perform as a key value adder within an organization. Article, and permission to publish here, provided by Sam Jenks at [link].

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Procurement team Procurement Sustainability Suppliers 56

Procurement Templates

NOVEMBER 26, 2023

Navigating Ethical Considerations One of the discussions around AI is that ethical considerations loom large. Safeguarding against biases in algorithmic decision-making and ensuring data privacy are vital in this new era of procurement integrity. Transparency is more important than ever.

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Procurement Supply Chain Efficiency Ethics Supply Chain Optimization 130

Jaggaer

FEBRUARY 5, 2025

This allows the procurement team to quickly identify the lowest or most favorable bid based on cost factors. Historical data and AI-driven insights help optimize decision-making, allowing procurement teams to focus their expertise on more nuanced evaluations like supplier alignment with business strategy and customer service approach.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Procurement Heads

FEBRUARY 22, 2023

The Procurement and Vendor Management function is responsible for the entire sourcing lifecycle from source to pay within Zurich. I am part of the central group team and lead on our sustainable sourcing sustainable procurement programme, which aims to embed sustainability in our supply chain.

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Sustainability Influencing Suppliers Supply chain 246

Procurement Heads

JULY 6, 2022

And lastly, there is the travel team, which looks after travel and sits under procurement and that team is split between Newcastle and London. We are doing well and we have an aspiration to be the leading procurement team in the legal industry so that is something that we keep at the heart of any agenda.

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Networking Supplier relationship management Procurement Risk 241

SCMDOJO

MARCH 14, 2025

These training programs will focus on key aspects of the act, such as the new procurement processes, stakeholder engagement requirements, and ethical standards. Encouraging early engagement by policy with commercial teams – this is key to delivering innovation and getting the most from the market.

Procurement 90

Procurement Bidding Competitive bidding Contract 90

ivalua

SEPTEMBER 13, 2021

Social and ethical priorities are close behind but still lag. Those looking to accelerate their CSR initiatives should learn from the leaders and empower procurement teams and suppliers with the technology needed to support effective decision-making and scalable collaboration”, said David Khuat-Duy, Founder & CEO of Ivalua.

Collaboration 130

Collaboration Sustainability Ethics Supply chain 130

Value Match

MARCH 2, 2023

Here’s how Procurement teams and stakeholders can ensure sustainable practices are established in their supply chains mitigating the risk of violence and exploitation. Work with ethical suppliers: Procurement professionals should work with suppliers who have a proven track record of ethical and sustainable production practices.

Ethics 52

Ethics Sustainability Supply chain Suppliers 52

Jaggaer

MARCH 20, 2025

Since many public institutions operate under performance-based funding models, changes in enrollment, graduation rates, or workforce outcomes could directly impact their budgets, forcing procurement teams to find cost savings and reassess long-term vendor contracts.

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supply chain budgeting Procurement Budget Supply Chain Efficiency 52

Procurement Heads

MAY 16, 2023

We are using blockchain as part of our ethics solution which looks at the provenance of major commodities and checking that there are no ethical issues (e.g. What do you think are the current procurement trends or hot topics and what emerging roles do you think we might see as a result? modern slavery) or any hidden concerns.

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Ethics supply chain software solutions Sustainability Procurement 130

Procurement Heads

MAY 16, 2023

We are using blockchain as part of our ethics solution which looks at the provenance of major commodities and checking that there are no ethical issues (e.g. What do you think are the current procurement trends or hot topics and what emerging roles do you think we might see as a result? modern slavery) or any hidden concerns.

Ethics 130

Ethics supply chain software solutions Sustainability Procurement 130

Jaggaer

APRIL 22, 2019

Procurement teams are in a unique and important position to drive such initiatives forward as these improvements are only possible through actions taken in the supply chain. And there’s a payoff: procurement teams are most concerned with cost savings and risk management, both of which can be addressed by sustainable procurement.

Sustainability 91

Sustainability Supply Chain Efficiency Procurement supply chain software solutions 91

Procurement Leaders

DECEMBER 9, 2022

Here, we talk to Luigi Ganazzoli, vice president of purchasing, about some of those challenges and what he and his team are doing to mitigate them. PL: Could you share a little bit of insight about your procurement team structure, strengths and challenges?

Risk 130

Risk Suppliers Risk management Buyers 130

ivalua

OCTOBER 24, 2022

Our research found intense and growing pressure on procurement teams with the potential for even darker clouds on the horizon,” Alex Saric, CMO at Ivalua says. The result: Many Procurement teams are bending and cracking under the pressure. So, how are procurement teams preparing for or responding to this recession? .

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Procurement Agile and Lean Supply Chain supply chain budgeting Procurement team 100

Supply Chain Game Changer

MAY 26, 2020

But even more than that Procurement has the ability to connect the organization with suppliers who provide unique capabilities and technologies that can differentiate the company from its competitors. This starts with professionalism, integrity, and ethical behaviour. Procurement is also responsible to suppliers.

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Procurement Purchase orders Supply Chain Optimization Ethics 105

Jaggaer

FEBRUARY 5, 2025

Organizations can ensure ethical sourcing while reducing compliance risks. Furthermore, it provides real-time visibility and control, enabling procurement teams to monitor performance, identify bottlenecks, and make informed decisions. Suppliers, in turn, benefit from improved demand forecasting and operational predictability.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Procurement Templates

MARCH 3, 2024

Procurement can leverage market intelligence to make informed decisions, mitigate risks, and drive strategic value within the organization. Procurement teams can analyze market trends, supplier capabilities, financial stability, and reputation to evaluate potential suppliers and select the most suitable ones.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Supply Chain Game Changer

NOVEMBER 26, 2018

If you don’t have a Supplier CoC, I’d strongly suggest looking into developing one with your sourcing and procurement team. Supplier compliance and governance is a result of quality due diligence on the part of a sourcing and procurement team. Business Ethics. Environment. Emergencies and Fire Prevention.

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Procurement team Supplier relationship management Procurement Suppliers 43

Procurement Tactics

JUNE 7, 2023

A sustainable procurement strategy involves making your suppliers compliant with your sustainability standards. Thus, it will enable you to only engage with suppliers that adhere to ethical and fair labor practices. Typically, the process begins by identifying the requirements of your company.

Procurement strategies 171

Procurement strategies Sustainability Strategy Procurement 171

Procurement Insights

FEBRUARY 18, 2025

Supplier compliance tracking for ethical sourcing and material certifications remains largely manual. Resistance to Change & Supplier Adoption Barriers Why It’s a Challenge: Many small & mid-sized suppliers lack the technical capability to integrate with automated procurement systems.

Purchase orders 52

Purchase orders Collaboration Purchasing Suppliers 52

Una

MAY 3, 2023

Josh is a Senior Sourcing Manager at Ro and according to his LinkedIn profile he “refuses to be overlooked due to his work ethic and achievements.” Josh connected with The Sourcing Hero team in a very unique way… he is a regular listener and had the creative idea to ask ChatGPT what a Sourcing Hero is.

Strategic sourcing 89

Strategic sourcing Strategic sourcing Ethics Negotiation 89

Procurement Tactics

JUNE 28, 2023

Compliance and Risk Management Throughout the procurement process, monitoring compliance with the applicable legislation and regulations is crucial. This includes checking standards of ethics, legal requirements, supplier diversity, and minimizing any risk that may arise in connection with the procurement activities.

Supply Chain Efficiency 178

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

ivalua

MAY 6, 2021

“The Procurement function needs to move its focus from its traditional emphasis on cost to the things that really matter to customers,” he said. These include faster co-innovation with suppliers, working with sustainable and ethical suppliers and empowering employees — all of which will lead to increased business agility. .

supply chain software solutions 130

supply chain software solutions Procurement Agile and Lean Supply Chain Supply Chain Efficiency 130

Una

MARCH 30, 2023

Cost is, and should always be, a foundational part of procurement’s purpose but expanding its focus beyond cost will unearth other sources of value. My CFO only cares about cost reduction This is a common excuse for procurement teams who are struggling to move the needle beyond cost reduction.

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Procurement Supply Chain Efficiency Procurement team Sustainability 104

Jaggaer

OCTOBER 24, 2024

With the right supplier management tools , you can empower your procurement team to assess suppliers based on critical factors such as risk, sustainability, and real-time performance. A leading strategic sourcing solution should give you a 360° view.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

NLPA (Next Level Purchasing Association)

AUGUST 28, 2024

Using tools like our Supplier Responsibility Checklist and Supplier Quality Checklist can help assess supplier commitment to social responsibility and quality, respectively, ensuring that procurement teams are making informed decisions. Enroll today to safeguard your career and strengthen your procurement strategy.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Supply chain Suppliers 52

Jaggaer

MARCH 6, 2025

By adopting these technologies, public sector procurement teams can increase efficiency, reduce costs, and improve accountability. However, it is incumbent upon public sector procurement leaders to measure and demonstrate return on investment.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement supply chain budgeting Sustainability 52

Planergy

FEBRUARY 24, 2025

The key to success with procurement technology often lies in your implementation strategy. Ensure you have comprehensive procurement team training so everyone knows how to use the systems. Before doing anything, conduct thorough software evaluations, prioritizing user-friendly interfaces and strong data security measures.

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Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Procurement Heads

FEBRUARY 7, 2023

At work, I am Head of Procurement at British American Tobacco and in charge of the procurement teams in the west side of the world (North and South America, Africa and most of Europe). My New Year’s resolution was to spend more time on professional development.

Supply Chain Efficiency 130

Supply Chain Efficiency Raw materials Category management Sustainability 130

ivalua

DECEMBER 14, 2020

In this way, they can be ready to face a crisis like Covid-19 or various other potential challenges — extreme weather caused by climate change, consumer demand for sustainable and ethically produced goods, trade wars or political tensions, to name a few. . Through digital transformation, Meritor not only achieved its goals, but brought $1.8

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain software solutions supply chain budgeting Procurement 130

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. Ethical Use: Transparency, fairness, and bias mitigation are critical.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52