Spend Matters

MARCH 11, 2024

So it was good to see a nice mix of both presenting at Procurement Strategies and Innovation (PSI) last week. PSI is a good place not only to hear from but to meet the innovators in this space, not just the developers and service providers but the people who interact with them. So cleansing of SMFs is vital, even though it takes time.

Procurement strategies 111

Procurement strategies Innovation Strategy Procurement 111

Jaggaer

FEBRUARY 5, 2025

Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. But digital transformation also has longer-term benefits for supplier collaboration. These begin with enhanced visibility.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

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. There are many supply chain management lessons to learn from the Covid-19 crisis. Financial, etc.).

Agile and Lean Supply Chain 173

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

Procurement Insights

JANUARY 3, 2025

Digital Transformation Matures : Advanced technologies such as AI , machine learning , and automation enabled procurement to provide predictive insights , scenario planning , and real-time decision-making. CFOs valued procurement’s ability to align financial and operational goals using data analytics.

Agile and Lean Supply Chain 52

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

The Procuretech Podcast

SEPTEMBER 21, 2021

Sheldon explains how he built a tech platform based off the back of what he's tried to build Excel formulas and macros to measure: the performance-related benefits to some of the more subjective areas of supplier relationship management (SRM). Is there a niche or sector that real-time SRM works for best?

Real-time Visibility 52

Real-time Visibility Collaboration Suppliers Supplier relationship management 52

ivalua

MARCH 9, 2023

All parts of the S2P process are connected to the supplier in some way and it is essential that there is a 360 degree view and access to supplier data. Also included: supplier improvement plans, innovation plans and overall supplier collaboration.

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

IBM Supply Chain Blog

MAY 1, 2024

Unlocking the full potential of supply chain management has long been a goal for businesses that seek efficiency, resilience and sustainability. In the age of digital transformation, the integration of advanced technologies like generative artificial intelligence brings a new era of innovation and optimization.

Supply Chain Optimization 78

Supply Chain Optimization Agile and Lean Supply Chain Supply Chain Efficiency Supply chain 78

Procurement Insights

FEBRUARY 20, 2025

The ProcureTech landscape is rich with Software-as-a-Service (SaaS) providers offering innovative solutions to enhance procurement processes. SAP Ariba : A leading procurement software company, SAP Ariba offers a comprehensive suite of solutions for supplier management, strategic sourcing, procurement, and financial supply chain management.

supply chain software solutions 52

supply chain software solutions Supply Chain Optimization Real-time Visibility Supply Chain Efficiency 52

Jaggaer

APRIL 3, 2025

A July 2024 Gartner survey also found that 72% of procurement leaders are focusing on incorporating generative AI, anticipating a shift towards strategic decision-making and innovation. This includes skills in data science and AI management. The implications of this seismic change should not be underestimated.

Procurement 52

Procurement Supply Chain Efficiency Contract Real-time Visibility 52

IBM Supply Chain Blog

FEBRUARY 28, 2024

Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation. Try out cognitive intelligence free for 30-days.

Sourcing 94

Sourcing Strategy Supply Chain Efficiency e2e 94

Finale Inventory

AUGUST 15, 2024

Manual errors: Mistakes in tracking inventory, such as miscounting or misplacing items, can create discrepancies. Inefficient inventory management: Poor practices, like inadequate replenishment strategies or lack of visibility, can contribute to shortages.

Inventory 52

Inventory Real-time Visibility Supply Chain Optimization supply chain software solutions 52

Una

OCTOBER 25, 2022

In recent years, however, many teams have managed to successfully shake off this long-outdated reputation. Procurement professionals are now celebrated for their innovation, creativity, agility, and cost-saving initiatives. Consolidate your supplier lists. There are several benefits associated with supplier consolidation.

Supply Chain Efficiency 105

Supply Chain Efficiency Procurement Purchase orders Real-time Visibility 105

Empowering CPO

JULY 3, 2023

These services often encompass a wide range of tasks, from supplier management and contract negotiation to spend analysis and process improvement. Amid the rapidly evolving business landscape, it is no longer sufficient for companies to merely manage their procurement operations – they must innovate.

Innovation 52

Innovation Strategy Procurement Management 52

Empowering CPO

JUNE 14, 2023

But before we venture into the depths of innovation in this field, let’s first establish what procurement really is. It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Introduction A.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

SCMDOJO

JUNE 17, 2024

Port congestion at the main global crossroads in recent times has revealed the susceptibility of supply networks to logistical constraints. These templates offer a curated selection of legal documents and risk management frameworks that can be customized to fit the unique needs of your business.

Supply Chain Efficiency 98

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

Jaggaer

OCTOBER 24, 2024

In this situation, you might choose to leverage Expressive Bidding , which creates a collaborative marketplace where buyers showcase their capabilities and buyers provide real-time guidance that results in more competitive and advantageous bid responses. This establishes a foundation for streamlined collaboration.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Agile and Lean Supply Chain 52

Empowering CPO

MAY 5, 2023

The Importance of Digital Transformation in the Modern Business Landscape In today’s rapidly evolving and competitive global market, businesses must continuously adapt and innovate to stay ahead of the curve. Companies that capitalize on these advancements can unlock new levels of efficiency, cost savings, and innovation.

Supply Chain Efficiency 52

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

Supply Chain Game Changer

MARCH 28, 2020

This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Instead of waiting for others to realize that now is the time for Procurement professionals to make their value and contribution known.

Procurement 71

Procurement Chief Procurement Officer Supply Chain Efficiency Purchase orders 71

The Procuretech Podcast

SEPTEMBER 7, 2021

We kick off series 2 of The Procuretech Podcast with with a mini-series examining three different Supplier Relationship Management platforms. Why supplier performance data can't just be measured in hard KPIs. What are the concrete problems that need to be overcome to improve the overall cooperation with a supplier?

Raw materials 52

Raw materials Import Supplier relationship management Real-time Visibility 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. At EmpoweringCPO, we employ proactive risk management strategies to ensure business continuity and protect your interests in an unpredictable global market.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Empowering CPO

JULY 2, 2023

As companies grapple with economic uncertainties and rapidly evolving market dynamics, the focus is shifting from mere cost-cutting to strategic cost management. In this context, Managed Procurement Services offer an effective path to achieve this objective, leveraging innovation, process efficiency, and expert insights.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Empowering CPO

MAY 4, 2023

By effectively managing the purchasing process, companies can better control their expenditures and optimize their supply chain, ensuring the availability of the right products and services at the right time. These practices range from embracing digital transformation to fostering a culture of collaboration and innovation.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Arkestro

OCTOBER 29, 2023

Fortunately for us mere mortals, humans bring invaluable contributions to the procurement process that aren’t likely going to be replaced by machines anytime soon: Strategy: Human judgment and expertise are invaluable assets when it comes to things like supplier relationship management, negotiations, and more.

Procurement 52

Procurement Procurement team Supplier relationship management Supply Chain Optimization 52

Procurement Software

MAY 14, 2024

Enhanced Efficiency and Visibility: By adopting process orchestration tools and platforms, businesses gain real-time insights and control over their procurement activities, facilitating quicker decision-making and improved risk management.

Procurement 52

Procurement Real-time Visibility e2e Chief Procurement Officer 52

World of Procurement blog

MAY 8, 2024

Customers receive orders on-time without backlogs. Plan The planning phase focuses on forecasting demand to determine what products are needed, the quantities required, and timing of orders. Source Sourcing involves identifying suppliers and negotiating pricing, lead times, quality, and other terms.

Agile and Lean Supply Chain 40

Agile and Lean Supply Chain Supply chain management Supply chain management Supply Chain Optimization 40

Empowering CPO

MAY 15, 2023

But in recent times, this function has evolved far beyond the simple act of purchasing. Today’s procurement professionals are strategic business partners, tasked with driving value and innovation while maintaining cost efficiencies. Innovation is another aspect of value creation. Let’s consider a real-world example.

Procurement 52

Procurement Quality Innovation Cost of ownership 52

Empowering CPO

JUNE 30, 2023

What’s more, our commitment to innovation means that we are constantly exploring and implementing cutting-edge technologies, such as artificial intelligence and machine learning, to drive procurement excellence. It can result in stock-outs or overstock, poor quality control, and longer lead times. Let’s break it down.

Supply Chain Optimization 52

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

World of Procurement blog

MAY 8, 2024

Sources innovation by engaging suppliers in new product/service development. Order Fulfillment Once a contract is signed, the supplier begins delivering goods or services as per the agreement. What are the company's goals for growth, cost reduction, sustainability, innovation etc?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. At EmpoweringCPO, we employ proactive risk management strategies to ensure business continuity and protect your interests in an unpredictable global market.

Supply Chain Efficiency 40

Supply Chain Efficiency Management Procurement Supply Chain Optimization 40

Empowering CPO

JUNE 26, 2023

In the following sections of this guide, we will provide in-depth analysis, real-world examples, and actionable recommendations to empower healthcare organizations in their journey towards optimizing costs and improving patient care through effective spend analysis. Benefits of Implementing Spend Analysis in Healthcare A.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Procurement Software

MARCH 5, 2024

Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game. It promises to assist with improving buyer and supplier collaboration.

Real-time Visibility 52

Real-time Visibility supply chain software solutions Procurement Supply Chain Efficiency 52

Procurement Software

FEBRUARY 6, 2024

Nordic Europe has a long tradition for being innovative, and Nordic procurement startups are no exception. It generates insights on bottlenecks, variants, and cycle times to drive process improvements. The solution also includes ready-made dashboards, KPIs, and intuitive case management to uncover and act on opportunities quickly.

Procurement 52

Procurement supply chain software solutions Supply Chain Efficiency Negotiation 52

Procurement Software

JANUARY 9, 2024

Canopy Canopy is a vendor master data and supplier management platform that aims to provide complete visibility of your suppliers’ information. It achieves this by delivering a single source of truth for your supplier data and automating business processes. The software covers a broad range of uses.

supply chain software solutions 52

supply chain software solutions Procurement Real-time Visibility Supply Chain Efficiency 52

Empowering CPO

JUNE 27, 2023

Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement. Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility.

Real-time Visibility 40

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

HICX

AUGUST 4, 2022

Furthermore, failure to tackle data quality issues created in the past will hamper the ability to obtain full visibility, thus creating even more ambiguity. On top of factors such as geographical location, there’s a risk segmentation of your suppliers, there’s sustainability, there’s innovation.

Suppliers 52

Suppliers e2e Real-time Visibility Collaboration 52

Positive Purchasing

MAY 9, 2023

We then built a management information object that puts a handle on that data and allows us to extract it. Explore areas that allow you to extract real value. Right now, there are a swathe of businesses trying to recruit these kinds of specialists, so attracting and retaining top talent is a real challenge.

Procurement 52

Procurement Buyers Real-time Visibility supply chain budgeting 52

Supply Chain Game Changer

APRIL 23, 2019

This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Instead of waiting for others to realize that now is the time for Procurement professionals to make their value and contribution known.

Procurement 50

Procurement Chief Procurement Officer Supply Chain Efficiency Purchase orders 50