Procurement Tactics

MAY 31, 2023

First Name Email Download 51 Prompts →  Or receive our famous weekly newsletter Inventory Control — What You Should Know Inventory control allows businesses to ensure that the right amount of supply is available to meet the customers’ demands. In this article, we will discuss what inventory control is. Why is it Important?

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Inventory control Inventory Real-time Visibility supply chain budgeting 174

Procurement Tactics

JUNE 8, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Inventory Management — Everything You Should Know Inventory management enables companies to ensure that they always have enough stock to fulfill customer orders. Why is it Important?

Inventory 187

Inventory Management Real-time Visibility Inventory control 187

IBM Supply Chain Blog

OCTOBER 13, 2023

In IDC’s 2022 Global Supply Chain Survey , they identified that “lack of visibility and resiliency to see necessary changes in time to react effectively” was the most problematic and unaddressed deficiency in modern supply chain management and inventory optimization.

Real-time Visibility 67

Real-time Visibility Supply Chain Optimization Supply Chain Efficiency Inventory 67

ivalua

JANUARY 13, 2021

– Spend control through real-time visibility into budget consumption, negotiated prices, preferred suppliers, engagement channels. – Process efficiency with reduced cycle times and considerably decreased errors or fraud opportunities. – Results : 30% decrease of process time.

Eprocurement 235

Eprocurement Real-time Visibility Purchase orders Budget 235

Procurement Tactics

JUNE 8, 2023

Negotiation Course for Procurement Learn from industry experts who negotiated billion $ deals 2. A periodic inventory system is software that enables companies to conduct periodic physical counts of their stock. Incorporating a periodic system into a business requires not much time and effort.

Inventory 192

Inventory supply chain software solutions Real-time Visibility Quantity 192

Jaggaer

OCTOBER 24, 2024

Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Collaboration brings visibility and agility for gaining market share.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

Let's Talk Supply Chain

MARCH 2, 2025

In this fast-paced economic landscape, the importance of strategic supplier relationship management cannot be overstated. Key Strategies for Navigating Tariff Turmoil: Utilize Data Analytics: Leverage advanced analytics tools to gain deep visibility into supply chain dynamics and identify potential areas of vulnerability.

Supplier relationship management 52

Supplier relationship management Data Suppliers Supply chain resilience 52

Jaggaer

FEBRUARY 28, 2025

This involves analyzing spend data, identifying for consolidation, and negotiating better contracts with key suppliers. Leveraging Technology: Implement procurement software and analytics tools to gain better visibility into spending patterns , identify areas of inefficiency, and automate processes.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Supply Chain Optimization Real-time Visibility 52

Procurement Tactics

NOVEMBER 14, 2022

We will also tackle retail supply chain management and its importance. The Importance of Retail Supply Chain Management. Many people overlook the importance of retail supply chain management and undervalue its impact on business operations. I, as a negotiator, wanted to be an escalation possibility. Why is it important?

Retail Supply Chain 190

Retail Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 190

ivalua

OCTOBER 22, 2020

This year’s edition comes at an interesting time, with the Covid-19 pandemic having shifted Procurement priorities and employee working practices. Hence, I thought it valuable to review why the Procure-to-Pay Process flow is so important today and, most importantly, how to realize the potential value of a successful digital transformation.

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supply chain software solutions Procurement Real-time Visibility supply chain budgeting 147

Procurement Tactics

MARCH 27, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Supply Chain Forecasting — Everything You Should Know Supply chain forecasting is about making predictions from both past and present information. Thus, why it is critical to the success of an organization.

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supply chain budgeting supply chain software solutions Supply Chain Optimization Agile and Lean Supply Chain 192

Procurement Tactics

JUNE 6, 2023

For this article, we are going to discuss what inventory forecasting is. We will discuss the importance and the different types of inventory forecasting. Additionally, we will tell you the best practices in forecasting and the benefits when you efficiently forecast your inventory.

Inventory 170

Inventory Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 170

Procurement Tactics

DECEMBER 21, 2022

After taking the time to read this article, you will have a deeper understanding of what supply chain collaboration is all about. Thus, allowing you to know if your decision is right when the time comes you are going to collaborate in the supply chain. . Defining Supply Chain Collaboration. Select partners based on their capability.

Collaboration 199

Collaboration Supply Chain Optimization Supply Chain Efficiency Supply chain 199

Supply Chain Game Changer

MAY 12, 2021

New age of negotiation article and permission to publish here provided by Sam Jenks at kodiakrating.com. We negotiate on a daily basis. We negotiate contracts, terms, and specifications in our professional lives and we negotiate dinner plans, curfews, and allowances in our private lives.

Negotiation 69

Negotiation Buyers Bidding Collaboration 69

Procurement Tactics

JUNE 26, 2023

Furthermore, China limited its import in the US and strengthened its trading relations with BRICS ( Brazil, Russia, India, China, and South Africa ) to diversify its economic partnership. Social Media Trends Instagram, TikTok, Facebook, and Pinterest are the best channels that offer real-time trending products to sell.

Price 195

Price Suppliers Negotiation Real-time Visibility 195

Procurement Tactics

JULY 20, 2023

Negotiation Course Learn from industry experts who negotiated billion $ deals 2. This integration enables businesses to have real-time visibility into order status, inventory levels, and supplier performance, enabling them to make informed decisions and respond quickly to changing market demands.

supply chain software solutions 134

supply chain software solutions Suppliers Management Purchase orders 134

Jaggaer

FEBRUARY 5, 2025

The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. These begin with enhanced visibility. So, lets be blunt.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Procurement Heads

JANUARY 30, 2023

I am responsible for the purchasing activities of Balfour Beatty on a large scale worth millions of pounds and have to make important decisions on what to recommend to our internal stakeholders and CIO. Procurement is more about contract management and negotiating great commercials for your business. Negotiation is a hobby for me.

supply chain budgeting 130

supply chain budgeting supply chain software solutions Negotiation Real-time Visibility 130

NLPA (Next Level Purchasing Association)

MAY 8, 2023

Supply chain visibility is essential for successful procurement, as it enables businesses to proactively manage risks and optimize their supply chain. Benefits of Investing in Supply Chain Visibility To address these challenges, businesses are increasingly turning to supply chain visibility solutions.

Supply Chain Visibility 52

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

Finale Inventory

FEBRUARY 19, 2024

This blog explores the strategic importance of returns and inventory management, illustrating how strategic returns can drive business success in the dynamic ecommerce environment. For customers, inadequate customer support leads can lead to delays, extending the time for processing and refunds.

Inventory 105

Inventory Real-time Visibility Management Quality 105

TYA Suite

OCTOBER 27, 2024

With automated systems, purchase orders can be generated based on predefined criteria, such as inventory levels or specific triggers, ensuring timely and accurate procurement. Real-time tracking and reporting capabilities allow organizations to monitor the status of purchase orders, deliveries, and payments.

supply chain software solutions 40

supply chain software solutions Supply Chain Efficiency Management Procurement 40

Procurement Tactics

OCTOBER 16, 2022

The system gives the user accuracy, visibility, and control over whether the project can be profitable or not. Visibility of the workflow. Before the creation of ERP systems, the coordination of the involved parties in the project is time-consuming and takes a lot of effort. . Want to become a Negotiation Game Changer?

Real-time Visibility 130

Real-time Visibility Budget Inventory control Data 130

Procurement Tactics

JUNE 8, 2023

The robot’s movement is tracked and recorded by the software, ensuring accurate inventory management and reducing errors. It is important to note that warehouse automation does not always mean physical robots. Negotiation Course for Procurement Learn from industry experts who negotiated billion $ deals 2.

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supply chain software solutions Warehouse operations Order Fulfillment Inventory 178

Supply Chain Collaborator

JUNE 22, 2018

from the year before, shippers have been absorbing the costs of rising interest rates and labor costs, higher fuel costs, and soon, high tariffs on imported goods. Using TMS and route optimizers to plan more efficient shipments , a shipper can significantly reduce lead times and shrink dwell times. Up a whopping 6.2%

Dwell Time 106

Dwell Time Real-time Visibility Supply Chain Optimization Route optimization 106

Let's Talk Supply Chain

FEBRUARY 13, 2025

The holiday crunch intensifies as consumer demands spike, leading to ‍logistical complexities and inventory management ‍issues. ‍ Recent articles within the past three months have highlighted the critical importance of tariff negotiations and their ‍impact on global supply chains.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Real-time Visibility 52

Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

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

Una

OCTOBER 17, 2023

EPISODE 137 Using Visibility to Combat Supply Chain Abstraction with Frank Kenney By Kelly Barner | October 18, 2023 In the race to build global empires of data and digital systems, today’s businesses must not risk forgetting what all of those zeroes and ones mean.

supply chain budgeting 81

supply chain budgeting Real-time Visibility Supply Chain Efficiency Supply chain 81

Procurement Tactics

JANUARY 2, 2023

The earlier you can let your suppliers know that there will be changes coming in the processes the more time you can hear their sentiments and make adjustments if necessary. If you have many suppliers, do not try to bring them all over to a new way of working at the same time. Why is it important? Set regular reviews.

Suppliers 199

Suppliers Supply Chain Efficiency Real-time Visibility Supply chain 199

Jaggaer

FEBRUARY 5, 2025

It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Implementation of new supply structure Track results and restart assessment This model has essentially stood the test of time.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Procurement Heads

FEBRUARY 8, 2023

One of the common themes I’m hearing from large organisations is that they are finding a lack of visibility looking ahead for energy spend. Another key strategy is energy storage, which is becoming an increasingly important way for companies to balance supply and demand, with examples including; batteries, thermal and hydrogen storage.

Real-time Visibility 130

Real-time Visibility Price Negotiation Sourcing 130

Let's Talk Supply Chain

OCTOBER 30, 2023

Beacon’s supply chain visibility platform is a central hub for real-time ocean and air freight tracking, supply chain performance analytics and carbon emissions reporting. Guest bio: Fraser Robinson is the Co-Founder & CEO of Beacon, a supply chain visibility and collaboration platform.

Real-time Visibility 52

Real-time Visibility Supply Chain Visibility supply chain software solutions supply chain budgeting 52

Procurement Tactics

SEPTEMBER 13, 2022

Want to take your negotiation results to the next level? The Importance of Sustainability in Supply Chain. The complexity of the supply chain can hinder visibility into crucial operational considerations such as labor conditions at a supplier’s factory that is miles away. Why is it important? Editor's note: Hi there!

Supply Chain Efficiency 183

Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain Sustainability 183

ivalua

MARCH 15, 2016

He was the kind of guy you would not want to have to negotiate with way back in the day because he did not negotiate. He said he had seen it all in supply base management and had experienced the feeling of victory leaving plenty of blood on the floor in negotiating with suppliers in his day. He just stared at me.

Real-time Visibility 100

Real-time Visibility Supply Chain Efficiency Suppliers Collaboration 100

ivalua

MARCH 9, 2023

It starts with identifying the right suppliers for a need, sharing requirements and evaluating supplier offers, selecting the most appropriate supplier, negotiating terms and contracting with them to receive goods and/or services. This rise in importance is due to the potential value that S2P initiatives can deliver.

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

Procurement Tactics

DECEMBER 6, 2022

Spend management is an important process to reduce losses and mistakes. However, these manual processes are ineffective and cost a lot of effort, time, and money. Visibility of expense data. Why is it important? 33 Procurement Interview Questions in 2022. Download Whitepaper →. . Or receive our famous weekly newsletter.

Spend management 172

Spend management Management Real-time Visibility Budget 172

TYA Suite

NOVEMBER 5, 2024

This blog delves deep into the importance of spend management solutions, focusing on their impact on business efficiency, cost control, and overall organizational effectiveness. The primary function of spend management tools is to provide visibility into the financial health of the organization.

Spend management 40

Spend management Management Real-time Visibility Budget 40

Una

NOVEMBER 28, 2022

Now, I know settling into a new role can take a little time, so I don’t want you to feel under any pressure to make any significant impact straight away. I wouldn’t expect any real results from you until you’ve spent a month or two reviewing our current supplier arrangements.” “Hmm Step 1: Gain visibility of spend data.

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Real-time Visibility Procurement Purchasing Contract 95