Procurement Insights

JANUARY 3, 2025

20202024: Procurement as a Strategic Business Partner Accelerated Evolution During the COVID-19 Pandemic : The pandemic underscored procurement’s role in ensuring supply chain resilience , managing disruptions, and navigating shortages. CEOs recognized procurement as critical to organizational resilience and agility.

Agile and Lean Supply Chain 52

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

TYA Suite

NOVEMBER 15, 2024

This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.

Risk management 40

Risk management Risk Suppliers Strategy 40

Procurement Insights

MAY 25, 2024

Using Mintec data in supplier negotiations, they can control price inflation and reduce proposed price increases across branded and private-label goods. “We save a small proportion in a single negotiation using Mintec, but these savings can be significant when you spread it out across the year.”

Sustainability 40

Sustainability Supply chain resilience Supply Chain Efficiency Data 40

World of Procurement blog

MAY 8, 2024

Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk. Procurement is strategically important because it: Drives significant cost savings through economies of scale, supplier negotiations, and process efficiencies. Dual sourcing and supply chain digitization can help.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

TYA Suite

JULY 17, 2024

This strategy outlines the methods and processes for selecting suppliers, negotiating contracts, , and ensuring that procurement activities align with the organization’s overall goals and objectives. Relies on manual processes for sourcing, negotiation, and Focuses on cost reduction through competitive bidding and bulk purchasing.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40

Empowering CPO

JUNE 14, 2023

It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Importance of Innovative Procurement Models In the era where change is the only constant, innovation has become a necessity rather than a luxury.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Empowering CPO

JUNE 27, 2023

This collaboration led to improved supplier relationships, innovation, and strategic partnerships. Cost Savings: By analyzing spend data in real-time, the company identified cost-saving opportunities, such as consolidating suppliers, negotiating volume discounts, and streamlining procurement processes.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40