This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
It’s been a very long time since I’ve had to consider about procurement objectives. Here are some typical procurement objectives that every procurement professional should consider. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value.
Why stakeholder management matters in procurement digital transformation Stakeholder management is the foundation of any successful procurement digital transformation initiative. largely control procurements level of influence. However, the reality is that stakeholders, including budget owners, business units, etc.,
In part 1 of this mini series on tariffs we looked in more detail at what we mean by tariffs and in part 2 we talked about a Procurement action plan. In part 3 we look at the tech that can support Procurement in tariff management. Design-for-Supply part 1, part 2, part 3 and part 4.
And for procurement and supply chain leaders looking to harness the power of technology to navigate complex challenges and an uncertain business environment, keeping up with the latest trends can be its own obstacle. So, what’s on the technological horizon for procurement and supply chain for the year ahead?
Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. This article explains how this affects Procurement. This content is for members only.
A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. According to one procurement leader we spoke to, all that changed around 2020. That statement couldn’t be less true today. And Stephen is not alone.
Ongoing training is important for procurement teams to keep up with the constantly evolving and advancing procurement tech and services landscape, specifically in niche areas such as category management, supplier management, negotiation and strategic sourcing and in the broader areas of change management and leadership.
For procurement professionals, AWS Marketplace might not be the first thing that comes to mind when thinking about Amazon. However, when it comes to procuring third-party software, data and professional services, AWS Marketplace is the dedicated platform designed to support businesses in building and running their digital infrastructure.
Financial institutions must navigate a complex web of policies, procedures and regulations to ensure compliance and manage risk. When Hellenic Bank, a leading retail lender in Cyprus, set out to transform its procurement operations, it needed more than just software deployment.
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Think of them as apples and gearseach essential and effective on its own, yet when combined; they create a formidable mechanism for achieving procurement excellence. Click here!
As many procurement professionals have discovered, transforming your processes to meet todays challenges in an effective manner is not as simple as writing a new mission statement. The success of the Procurement team at Utz Brands, Inc. , The success of the Procurement team at Utz Brands, Inc. ,
Ive been a procurement practitioner for more than 20 years and led procurement modernization in different industries and business environments. As the scale of your spending grows, it becomes harder to manage without a dedicated procurement department or an updated process.
Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations? The paper highlights real-world examples and use cases that demonstrate generative AI's transformative effects on operational efficiency, risk management, and cost reduction.
The coronavirus pandemic and recent weather catastrophes have made the case for most types of risk management and what one can do to mitigate the risk more obvious. Yet it is a risk that procurement professionals must be prepared for and manage. The risk of regulatory handslaps only heightens his point.
In todays interconnected business landscape, companies rely on suppliers and service providers for core procure-to-pay (P2P) activities, including order processing, invoicing and payments. The post Navigating the top 5 third-party risks in procure-to-pay processes appeared first on Spend Matters. This content is for members only.
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys.
Procurement has evolved from a back-office function to a strategic driver of innovation and value. Change management isnt a sidekick in this story; its the star of the show. Digitalization involves applying digital technologies to improve existing processes, like implementing e-procurement systems.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
As part of our theme this quarter on Procurement’s role and value in supply chain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways.
Procurement People should learn the Sales & Operations Planning (S&OP) Process. Procurement professionals can contribute significantly to the S&OP process by providing valuable insights into supply chain dynamics, identifying potential risks, and optimizing sourcing strategies.
Despite the cold weather, the room was filled with passionate public procurement practitioners and suppliers who were eager to chat and learn. Recent successes include: In 2024, 321 new government procurement teams were onboarded. The State of New York is adopting SOVRAs fee optimization program via the Reconciler tool.
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter ChatGPT in Procurement — Revolutionizing the Norm ChatGPT is getting popular not just in procurement but also in various industries as it assists professionals in their everyday work. What is ChatGPT?
With disruptions looming, procurement and supply chain managers are stepping up their game. This new report from The Economist and GEP explores how procurement and supply chain professionals are responding to shifting business dynamics. No wonder, resilience is a top priority today. And guess what?
In this Spend Matters Vendor Analysis we provide an overview of Pairsoft and its procure-to-pay (P2P) solution. As businesses grow, managing P2P processes efficiently across procurement, accounts payable and cash management becomes a significant challenge. This content is for members only.
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys. 2- and 3-way matching).
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys.
So, how we manage risk is what keeps me up at night… We try to be robust as a procurement organisation because, as a commodities company, risk is a part of our everyday life: we can have a crop failure, we can have a delivery failure, we can have a quality failure, so how do we handle that?
What are the risks for procurement in 2023? Read the GEP Spend Category Outlook 2023 report now to build successful spend management strategies across 22 indirect & direct categories. What should leaders do to deliver value amid uncertainties?
This in itself is probably not too unusual your average chief procurement officer will have a fairly lofty frequent flyer status given the miles he or she travels. First, it means aligning the procurement and supply strategy with that of the wider organisation more so than ever. What does this mean in practical terms?
18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details → Or receive our famous weekly newsletter Strategic Procurement — Everything You Should Know Strategic procurement allows businesses to meet the demand of the current procurement landscape by making sense of the data and automating the procurement process.
This Spend Matters Vendor Analysis provides an overview of Vroozi and its solution for procure-to-pay (P2P). The procure-to-pay space continues to evolve as organizations demand more efficient, automated solutions to manageprocurement, invoicing and payment processes. This content is for members only.
Procurement fraud is often overlooked, but it can tear away at your company’s integrity and reputation from the inside if left unchecked for too long. Proactively identifying and managingprocurement fraud is incredibly important when safeguarding your organization’s future. Lets take a look.
The procurement and supply chain category management landscape will remain turbulent, with geopolitical tensions, worries over fresh tariffs, rising costs, and supply chain disruptions posing significant challenges. 2025 will feel familiar, in some regards.
Ivalua Spend Management Insights [ivory-search] Get Ready for Success! We recommend leveraging these workstreams, based on Gartner’s 4 Workstreams for Successful Implementation of Any Procurement Application to maximize the impact of your next large-scale procurement implementation: 1.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
What Lieferkettengesetz Means for Procurement? The act was established to address issues of sustainability and ethical conduct in global supply chains, and has significant implications for companies and procurement organizations operating in Germany. By Jan-Hendrik Sohn. Export and import of certain hazardous wastes.
Happy Valentines day, here is some procurement satire for February the 14th! Lack of Emotional Sensitivity: Procurement departments are typically focused on logistics, cost-effectiveness, and efficiency, which may not align with the emotional nuances and sentimentality of Valentine’s Day.
For global manufacturers, managing direct and indirect material spend can get very complicated very quickly. Multiple legacy systems prevent procurement from standardizing processes and tracking what they’re spending with each supplier.
Procurement is often an overlooked area within organizations, working behind the scenes to ensure businesses have the goods and services they need to operate at their best. Considering its importance, it makes sense that modern procurement teams have a structured approach to developing essential skills and capabilities.
Sustainable procurement has become more and more critical for businesses that want to reduce their environmental impact and improve their sustainable practices. When done right, it can bring massive benefits…
Whether you’re a small business owner or the HR manager of a large organisation, there are several situations when it makes sense to work with a recruitment agency. If you’re looking for support with your next procurement recruitment campaign, click here to register your job and our team of experts will be in touch.
Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Procurement and supply chain teams will play a crucial role in making this vision a reality.
A Fortune 500 CPG company partnered with GEP to improve end-to-end category management, optimize direct spend categories, and increase strategic focus on tail spend. This is essential reading for all procurement and supply chain leaders.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content