Arkestro

JANUARY 9, 2024

Resources / Blog / 4 Key Trends Reshaping Manufacturing Procurement in 2024 4 Key Trends Reshaping Manufacturing Procurement in 2024 The dust is settling after the upheaval of the pandemic, yet the manufacturing industry remains forever changed. So what’s in store for 2024? Reduce complexity. Get customized recommendations.

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Empowering CPO

JUNE 26, 2023

Introduction In today’s dynamic business landscape, effective procurement strategies are crucial for organizations to achieve sustainable growth and maintain a competitive edge. Data-driven Decision Making In today’s data-driven world, the role of data in procurement has become increasingly significant.

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Procurement Software

APRIL 23, 2024

Located in Amsterdam, Netherlands, the company leverages advanced AI technologies to enhance procurement processes, focusing on efficiency and data visibility. What sets Mithra-AI apart is its real-time, continuous visibility of spend data, coupled with proactive alerts for opportunities and risks.

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Arkestro

MARCH 27, 2024

After years of focusing on cost reduction, the majority of procurement leaders say they plan to spend more and increase workloads in 2024, meaning procurement buyers will have more power to influence change and optimize spend across the entire supply chain. But what does a procurement buyer do, exactly?

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Empowering CPO

JUNE 27, 2023

Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility. Data Integration and Visibility: Connecting disparate data sources, such as procurement systems, supplier databases, and financial records, to create a centralized and holistic view of procurement activities.

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Procurement Express

SEPTEMBER 13, 2024

The Role of Procurement in Business Acquisition Procurement is often viewed as a back-office function, but it plays a pivotal role in the acquisition process. Companies looking to be sold or seeking acquisition targets must have their procurement strategies in place. Who Should Worry About Procurement?

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Empowering CPO

MAY 15, 2023

Procurement is not just a corporate department; it is a critical business function that has the potential to influence an organization’s profitability, operational efficiency, and strategic success. At its core, procurement is about acquiring the goods and services a company needs to fulfill its business model.

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World of Procurement blog

MAY 23, 2024

Delivery performance - Measure on-time delivery rates and lead times for each supplier. Reliable, on-time delivery is essential. Spend time getting to know prospective suppliers' operations, capabilities, and roadmaps when selecting preferred partners. Track on-time delivery, quality, responsiveness, and other KPIs.

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Empowering CPO

MAY 6, 2023

The Growing Influence of Technology in Procurement The rise of digital technology has had a profound impact on procurement, revolutionizing the way organizations manage their supply chains and make strategic decisions. Digital Transformation and Automation A. Data-driven Decision Making A.

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Empowering CPO

JUNE 30, 2023

The answer lies in the complexity and significance of procurement. This function is no longer limited to transactional activities such as purchasing; instead, it has evolved into a strategic role that directly influences a company’s bottom line and competitive standing. The result? Let’s break it down.

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TYA Suite

NOVEMBER 25, 2024

One of the often-overlooked benefits of sustainable procurement is its potential for significant cost savings. By prioritizing energy-efficient products and sustainable materials, organizations can reduce their operational expenses over time. Establishing clear sustainability goals is the foundation of green procurement.

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Empowering CPO

JULY 5, 2023

Procurement, which refers to the process of finding, acquiring, and buying goods, services, or works from an external source, often via a tendering or competitive bidding process, plays a critical role in determining a company’s efficiency and profitability. This is where managed procurement services come into the picture.

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Empowering CPO

JUNE 25, 2023

Spend Analysis is a process where procurement data from various sources are collected, cleansed, categorized, and analyzed. Its purpose is to increase visibility of procurement spend, identify savings opportunities, improve operational efficiency, and monitor supplier performance.

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supply chain budgeting Supply Chain Efficiency Real-time Visibility Data 52

Empowering CPO

JUNE 14, 2023

Definition and Purpose of Procurement Procurement is a multi-faceted function that goes beyond the simple acquisition of goods and services. Procurement is central to a business’s operations, with a purpose that encompasses cost-efficiency, quality control, risk management, and strategic sourcing.

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Empowering CPO

JUNE 21, 2023

It provides visibility into supplier performance and compliance, thereby mitigating risk. Let’s illustrate this with a real-life example. A multinational manufacturing company was grappling with escalating procurement costs and a supplier base that had become unmanageable due to years of uncoordinated purchasing decisions.

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Procurement Heads

AUGUST 2, 2023

Additionally, it felt like the right time for a new challenge, as I had spent nearly 24 years with my previous employer. Increase in cyber-attacks hindering our supply chain which is a current real threat. I made the transition after having an in-depth conversation with John Murphy and other Executives of the company. Over the last 5.5

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Arkestro

JUNE 11, 2024

Because each sector operates independently, systems tend to lack visibility, and bottlenecks often stall progress and efficiency. Here are a few ways companies are leveraging predictive procurement and AI to make data-driven decisions related to procurement strategies, supplier relationships, resource allocation, and more.

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