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?

Inventory control 174

Inventory control Inventory Real-time Visibility supply chain budgeting 174

Procurement Tactics

JULY 23, 2023

Additionally, we will discuss how it works and its importance in e-commerce. The main goal of last mile logistics is to ensure that goods or services ordered by customers are delivered efficiently and on time. This tracking system enables real-time updates on the shipment’s whereabouts and estimated delivery time.

Logistics 209

Logistics Supply Chain Efficiency Supply Chain Optimization Real-time Visibility 209

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

ivalua

JUNE 29, 2020

I have some real context of this, living in NYC and having a family member that works at a hospital. While it is a difficult time, you have to also applaud the heroic efforts of this industry as a whole. Across this supply chain there is typically a lack of visibility due to siloed information and data.

Agile and Lean Supply Chain 219

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 219

Una

AUGUST 17, 2022

This is where strategic sourcing professionals spend most of their time, communicating directly with their top suppliers through an SRM program , and using cutting-edge procurement software to analyze spend and track risk. Looking beyond cost, the strategic importance of a supplier can be determined by: Risk to the organization.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

Procurement Tactics

MAY 16, 2023

In a 4PL model, the external provider (also known as the lead logistics provider or LLP) manages and coordinates all aspects of the supply chain , including transportation, warehousing, inventory management, and distribution. This provider may also manage other third-party logistics (3PL) providers on behalf of the client company.

Logistics 211

Logistics supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 211

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

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.

supply chain software solutions 147

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

ivalua

JUNE 4, 2020

A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. Financial, etc.).

Agile and Lean Supply Chain 173

Agile and Lean Supply Chain Supply chain resilience Supply Chain Efficiency Supply chain 173

Procurement Tactics

MARCH 27, 2023

We will tell you the importance and the methods used in supply chain forecasting. Although it always relates to demand and sales projections, forecasting can also be used to determine product pricing, lead times, labor needs, and more. However, having too much means paying unnecessary high costs for your inventory.

supply chain budgeting 192

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

Procurement Tactics

JUNE 8, 2023

A periodic inventory system is software that enables companies to conduct periodic physical counts of their stock. Initially, the company may perform a physical review of its goods and import the stock data into the software for reconciliation. Incorporating a periodic system into a business requires not much time and effort.

Inventory 192

Inventory Real-time Visibility supply chain software solutions Quantity 192

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

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. Additionally, you will get real-time visibility into all areas of your business.

Retail Supply Chain 190

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

ivalua

JANUARY 24, 2022

Data is central to successful digital transformation to relay real-time information and greater visibility into operations and resource allocation. Alex, how important was data during and after the pandemic? Can you elaborate on the importance of building a solid data foundation? Timeliness is also important.

Data 130

Data Real-time Visibility Procurement Supply Chain Efficiency 130

ivalua

AUGUST 17, 2021

Recent trends have increased the strategic importance of effective, transparent Accounts Payable processes. A recent study by Forrester found that the single greatest factor in increasing a supplier’s willingness to collaborate with and share innovations with a customer was timeliness of and visibility into payments.

Real-time Visibility 130

Real-time Visibility Suppliers Innovation Contract 130

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

Let's Talk Supply Chain

AUGUST 28, 2022

Cargo Chief enables 3PLs and freight brokers to expand their carrier network, gain visibility into real-time pricing, and streamline their processes. 21.38] How better data and increased automation and efficiencies can help to increase carrier engagement, and why better carrier partnerships are so important.

Real-time Visibility 98

Real-time Visibility Price Collaboration Supply Chain Efficiency 98

ivalua

OCTOBER 1, 2020

Recent trends have increased the strategic importance of an effective, transparent Invoice-to-Pay process, managed by AP. A recent study by Forrester found that the single greatest factor in increasing a supplier’s willingness to collaborate with and share innovations with a customer was timeliness of and visibility into payments.

Real-time Visibility 130

Real-time Visibility Networking Supply Chain Efficiency Suppliers 130

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. . Why is it important? Defining Supply Chain Collaboration.

Collaboration 199

Collaboration Supply Chain Optimization Supply Chain Efficiency Supply chain 199

ivalua

JULY 16, 2020

The results show businesses face several hurdles when implementing sustainability initiatives, with 93% claiming it is challenging to gain visibility into suppliers to track the environmental impact of their supply chain. Lack of visibility slowing plans to tackle environmental concerns.

Sustainability 130

Sustainability Real-time Visibility supply chain budgeting Supply chain 130

SCMDOJO

JUNE 14, 2023

But before we get to that, let’s establish why supply chain visibility matters. Why Supply Chain Visibility Matters In the First Place Supply chain visibility refers to the ability to track and monitor products as they move through the supply chain. Having supply chain visibility is crucial for several reasons.

Supply Chain Efficiency 105

Supply Chain Efficiency Supply Chain Optimization supply chain budgeting Supply chain 105

Supply Chain Game Changer

SEPTEMBER 22, 2022

High-quality procurement software can be used for everything from Inventory management to budgeting. It’s important to realize that it’s not a comprehensive solution to procurement but a tool to Aid with the extensive process. Spend Visibility. Transparency is a good thing when it comes to spending visibility.

supply chain budgeting 101

supply chain budgeting Real-time Visibility supply chain software solutions Procurement 101

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. . CAD interface. Work cycle process. Scheduling.

Real-time Visibility 130

Real-time Visibility Budget Inventory control Data 130

Spend Matters

JANUARY 14, 2025

This metric has become increasingly important as organizations deal with complex subscription models and misaligned budgets and billing cycles. Approval lead time is another important metric. This fragmentation makes it challenging to maintain standardized procedures and creates obstacles in spend visibility and control.

Real-time Visibility 113

Real-time Visibility Procurement Budget Procurement team 113

ivalua

JANUARY 12, 2023

To avoid this pitfall, it is necessary for public procurement teams to routinely review the entire process and challenge steps to ensure that requirements are necessary to meet rules or requirements and/or deliver real value. . It is vital that public procurement teams develop a data insight strategy to gain visibility into their operations.

Strategy 130

Strategy Real-time Visibility Procurement Procurement team 130

ivalua

MAY 19, 2022

But why is this so important for business, and what does it mean for prospects and customers? How important is this partnership to both Ivalua & TransferMate? By removing the friction in global supply chains, for the first time, the payment and the sourcing event are seamlessly linked.

Supply Chain Efficiency 130

Supply Chain Efficiency Real-time Visibility e2e Buyers 130

Procurement Leaders

JANUARY 8, 2024

The results of the transformation were profound: a 50% reduction in the number of days to delivery, as well as much tighter financial controls and supplier visibility in a sector where “because it’s a matter of life and death, speed is of the essence”.

Real-time Visibility 130

Real-time Visibility Procurement Inventory Suppliers 130

Procurement Insights

MARCH 18, 2024

“Supply chain visibility refers to the ability to track and monitor products, materials, and information as they move through the various stages of a supply chain, from the sourcing of raw materials to the delivery of the final product to the end consumer. As an aside, we are a family of six with four teenagers with different tastes.

Supply Chain Efficiency 85

Supply Chain Efficiency e2e Supply chain Real-time Visibility 85

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

IBM Supply Chain Blog

AUGUST 11, 2023

CEOs and CFOs are willing to invest in IT services and technology because they understand and appreciate their importance in building a modern business and delivering exceptional products and customer services. IT cost management has grown in importance because cost control is top of mind for every organization across all industries.

Import 74

Import Management Budget Real-time Visibility 74

Spend Matters

APRIL 4, 2024

The technology opens up a wealth of capabilities not previously possible for the procurement practitioner in terms of data availability, end-to-end visibility, cost, time and risk reduction, and ultimately the overall health of the third-party network. And those risk factors can change at any time; it’s a very dynamic landscape.

Real-time Visibility 99

Real-time Visibility Management e2e Risk management 99

Let's Talk Supply Chain

JULY 24, 2022

Their flexible, customized supply chain solutions, based on best practices and expertise, work seamlessly with internal client operations to ensure time-definite delivery wherever and whenever necessary. Visibility for the sake of visibility is just another pile of data. This is why they buy supply chain as a service.”.

Agile and Lean Supply Chain 98

Agile and Lean Supply Chain Supply chain Real-time Visibility Management 98

ivalua

JULY 8, 2020

These challenges in the direct material supply chain pose a real threat, especially in a time of crisis. However, it is up to the procurement team to find a way to ensure that suppliers: Are not risky; Perform well over time; Meet quality & regulatory requirements; Maintains the right certifications, and more; and.

Agile and Lean Supply Chain 26

Agile and Lean Supply Chain Supply chain resilience Supply Chain Efficiency Supply chain 26

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

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

SCMDOJO

JANUARY 29, 2025

Supply chain reports are data-driven documents that provide key metrics and insights into various aspects of your supply chain, including: Inventory Levels Tracking stock levels in real-time to ensure adequate inventory to meet demand while minimizing holding costs.

Supply Chain Optimization 98

Supply Chain Optimization Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 98

ivalua

JUNE 1, 2022

Overall, their strategy must move toward data-driven decision-making to provide real-time information visibility. Creating fuller visibility into supplier risks, Amrest has the power and intel to switch localizations or deliver from different warehouses, creating a stronger supply chain. .

Real-time Visibility 130

Real-time Visibility Agile and Lean Supply Chain Supply Chain Efficiency Procurement 130