Procurement Tactics

JUNE 19, 2023

AI in logistics refers to the use of AI-powered solutions to optimize supply chain management, improve decision-making and enhance customer experience. Artificial intelligence is being used to automate routine and time-consuming work in warehouses such as packing and sorting of goods which helps to improve efficiency, reduce errors and costs.

Logistics 193

Logistics supply chain budgeting supply chain software solutions Real-time Visibility 193

TYA Suite

OCTOBER 27, 2024

Using a procurement management system is one practical strategy to strengthen these connections. This comprehensive guide explores what procurement management software is, its key features, its role in vendor relations, its integration with business processes, and the benefits it offers.

supply chain software solutions 40

supply chain software solutions Supply Chain Efficiency Management Procurement 40

Procurement Tactics

MAY 31, 2023

Inventory Control: What is it? Inventory control, also known as stock control, refers to the process of managing and regulating a company’s inventory levels to ensure efficient and cost-effective operations. It is a way for a company to manage its supply to make sure it has enough but not too much.

Inventory control 174

Inventory control Inventory Real-time Visibility supply chain budgeting 174

Spend Matters

MARCH 11, 2024

At Spend Matters, it’s as important for us to get to know the requirements and opinions of the procurement community of practitioners as it is for us to understand the world of tech solutions and their providers. So it was good to see a nice mix of both presenting at Procurement Strategies and Innovation (PSI) last week.

Procurement strategies 107

Procurement strategies Innovation Strategy Procurement 107

Procurement Tactics

JULY 23, 2023

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. CERTIFICATE COURSES 1.

Logistics 209

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

Procurement Tactics

JUNE 8, 2023

Negotiation Course for Procurement Learn from industry experts who negotiated billion $ deals 2. Procurement Strategy Course Take the lead with our proven 5-step procurement strategy 3. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4.

Inventory 192

Inventory supply chain software solutions Real-time Visibility Quantity 192

Spend Matters

MARCH 26, 2024

In today’s dynamic business landscape, effective spend management is crucial for maintaining financial controls and achieving sustainable growth. However, many organizations still find themselves grappling with cumbersome and needlessly complex legacy spend management technologies which hinder, rather than facilitate, their efforts.

Spend management 109

Spend management Management Real-time Visibility Innovation 109

Jaggaer

FEBRUARY 5, 2025

JAGGAER characterizes the steps in this process as Spend Management, Category Management, Sourcing , and Contracts. These four steps constitute the downstream procure-to-pay part of the process. Any organization that manages procurement at scale can benefit from digitally transforming its source-to-pay (S2P) process.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Spend Matters

JANUARY 30, 2023

Categories: Procurement Strategy & Planning , Supply Chain Visibility Tags: PRO This Spend Matters PRO Vendor Analysis provides an overview of Portcast and its solution for cargo tracking. It is a data-first company that prides itself on near-instant updates and exceptional logistics visibility. Read more. )

Real-time Visibility 98

Real-time Visibility Supply Chain Visibility Supply chain Procurement strategies 98

Procurement Tactics

JUNE 8, 2023

The robot’s movement is tracked and recorded by the software, ensuring accurate inventory management and reducing errors. Negotiation Course for Procurement Learn from industry experts who negotiated billion $ deals 2. Procurement Strategy Course Take the lead with our proven 5-step procurement strategy 3.

supply chain software solutions 178

supply chain software solutions Warehouse operations Order Fulfillment Inventory 178

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

OCTOBER 16, 2022

The system usually includes the management of contractors, subcontractors, construction accounting, payroll, and service operations in a central database. . The system gives the user accuracy, visibility, and control over whether the project can be profitable or not. Management of contractors. Management of subcontractors.

Real-time Visibility 130

Real-time Visibility Budget Inventory control Data 130

Procurement Tactics

JUNE 6, 2023

Effective inventory forecasting optimizes sales, reduces costs, and improves overall inventory management. The Importance of Forecasting Your Inventory Imagine you are the owner of a bustling retail store, offering a wide range of products that customers love. CERTIFICATE COURSES Related courses about this subject 1.

Inventory 170

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

Procurement Tactics

NOVEMBER 14, 2022

We will also tackle retail supply chain management and its importance. Additionally, we will give you an example of a retail supply chain and how to improve your retail supply chain management amidst the challenges. . What is Retail Supply Chain Management? The Importance of Retail Supply Chain Management.

Retail Supply Chain 190

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

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. Sourcing teams are automating processes like data analysis as well as supplier relationship management and transaction management.

Sourcing 94

Sourcing Strategy Supply Chain Efficiency e2e 94

ivalua

MARCH 9, 2023

Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. ​ It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. What is Source-to-Pay?

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

Planergy

FEBRUARY 24, 2025

Modern Spend Management and Accounts Payable software. How better management in AP can give you better flexibility for cash flow management. The Four Types of Procurement in Education Key Steps in the Education Procurement Process Who Benefits from Efficient Procurement? What's PLANERGY?

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

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. However, this idea turns out to be untrue.

Collaboration 199

Collaboration Supply Chain Optimization Supply Chain Efficiency Supply chain 199

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. Avoid doing difficult things all at once.

Suppliers 199

Suppliers Supply Chain Efficiency Real-time Visibility Supply chain 199

Procurement Tactics

MARCH 27, 2023

Although it always relates to demand and sales projections, forecasting can also be used to determine product pricing, lead times, labor needs, and more. The integration of AI into forecasting improves accuracy, saves more money, and helps businesses react to exceptions in real-time.

supply chain budgeting 192

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

Empowering CPO

MAY 8, 2023

Importance of Risk Management in Procurement Procurement plays a critical role in the success of any organization, as it involves acquiring goods and services necessary for business operations. Understanding Procurement Risk A. Introduction A.

Risk management 52

Risk management Risk Procurement strategies Strategy 52

Una

OCTOBER 25, 2022

How to Improve Procurement Efficiency. Procurement was once known for imposing clunky purchasing processes. In recent years, however, many teams have managed to successfully shake off this long-outdated reputation. Instead, they’ll be able to spend more time nurturing the relationships that really matter.

Supply Chain Efficiency 105

Supply Chain Efficiency Procurement Purchase orders Real-time Visibility 105

Procurement Templates

JUNE 18, 2023

ChatGPT Inflation refers to the general increase in prices of goods and services in an economy over time, resulting in a decrease in the purchasing power of money. These indices track the average price changes of a basket of goods and services over time. Money buys less than before How should procurement manage inflation?

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

TYA Suite

JANUARY 27, 2025

Unlike traditional methods where approvals are centralized within a small group or individual, community approvers can be any mix of community members involved in the procurement process. This can include department heads, project managers, financial officers, and even end-users who have a stake in the purchase.

Procurement 40

Procurement Real-time Visibility Collaboration Procurement solutions 40

Una

MAY 11, 2023

Building a Procurement Function From Scratch With the right approach, building a procurement function from scratch can create streamlined and efficient processes that deliver real value to your organization. Build a team Once you’ve identified your goals and stakeholders, it’s time to start building your team.

Procurement 98

Procurement Real-time Visibility e2e Purchasing 98

Jaggaer

MAY 14, 2019

Source-to-Pay software or, simply put, S2P is an integrated suite of applications developed to take care of and manage each and every process within the procurement function. The procurement strategy . Improved visibility. Users can access information easier and have access to real-time data.

Real-time Visibility 81

Real-time Visibility Buying process Procurement strategies Purchasing 81

Finale Inventory

AUGUST 20, 2024

If you operate an ecommerce business, you know how vital it is to manage your inventory effectively. Keeping track of your inventory is key to ensuring customer satisfaction, reducing stockouts, and boosting profitability. This includes monitoring inventory levels, managing stock, and establishing reorder points.

Inventory 52

Inventory Order Fulfillment Management Real-time Visibility 52

Finale Inventory

AUGUST 4, 2024

In the competitive landscape of ecommerce, effective inventory management is key to success. One important aspect of inventory management is tracking raw materials. This article covers the significance of tracking raw materials in ecommerce and outlines strategies to address challenges and enhance your business.

Raw materials 52

Raw materials Inventory Real-time Visibility Strategy 52

Finale Inventory

AUGUST 9, 2024

By precisely monitoring and managing inventory and assets, companies can optimize their processes, enhance customer satisfaction, and boost profitability. Finale Inventory offers a robust asset tracking solution tailored for ecommerce businesses, making these benefits even more attainable.

Inventory 52

Inventory Real-time Visibility Order Fulfillment Supply Chain Optimization 52

Finale Inventory

JULY 24, 2024

Inventory management is a key aspect of any business, and with the growing popularity of ecommerce, ensuring accuracy and efficiency is increasingly important. Two commonly used methods for inventory management are RFID and barcodes. RFID technology uses radio waves to identify and track items.

Inventory 52

Inventory Management Order Fulfillment Real-time Visibility 52

Empowering CPO

JULY 5, 2023

Introduction Welcome to our exploration of a fascinating convergence shaping the future of business operations: the intersection of technology and managed procurement services. Before we dive in, let’s first set the stage by discussing EmpoweringCPO, a leader in the field of managed procurement services.

Supply Chain Efficiency 52

Supply Chain Efficiency Management Procurement Real-time Visibility 52

Empowering CPO

JULY 3, 2023

Introduction In the complex and fast-paced business world of today, Managed Procurement Services (MPS) have emerged as a key solution for enterprises seeking to streamline their operations, improve efficiencies, and achieve cost savings. Procurement is no longer just about purchasing goods and services at the lowest cost.

Innovation 52

Innovation Strategy Procurement Management 52

Procurement Tactics

AUGUST 11, 2022

In simple terms, it is the amount of money you need to pay in order to store your unsold goods or inventory in a warehouse. . Commonly, the inventory holding costs comprise 20 to 30% of the total inventory value. Additionally, it increases the longer the time you have stored an item before selling it. .

Inventory 130

Inventory Real-time Visibility Negotiation Risk 130

IBM Supply Chain Blog

JANUARY 23, 2024

Procurement departments tend to be less visible to many stakeholders than sales, operations or even finance departments, but the impact they have on everything from the bottom line to product quality and service delivery shouldn’t be overlooked, which is why “procurement excellence” is a worthy pursuit.

Procurement 86

Procurement Real-time Visibility Contract Suppliers 86

Una

APRIL 27, 2023

Getting procurement involved too late means less gets achieved First, a reminder: not every purchase requires procurement involvement! Most organizations will establish spend thresholds and purchasing guidelines that enable stakeholders to manage tactical or everyday purchases without assistance.

Procurement 98

Procurement Real-time Visibility Purchasing Risk 98

Finale Inventory

JULY 22, 2024

ASN acts as a key component in the supply chain management process, serving as a precursor to the physical arrival of goods. This proactive approach assists in streamlining the receiving process, reducing lead times, and minimizing disruptions in inventory management.

Supply Chain Efficiency 52

Supply Chain Efficiency Import Real-time Visibility Supply Chain Optimization 52

Una

SEPTEMBER 22, 2022

The number of tech contracts and IT vendors that are needed to support your business can add up quickly, which can make this particular category difficult to manage. It’s not a matter of if IT spend should be managed, but who should be the one managing such a significant portion of a company’s budget.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98