Jaggaer

FEBRUARY 5, 2025

Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. What is Source-to-Pay?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Real-time Visibility 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

ProcurePort

JULY 27, 2022

• Strategic sourcing is a practice in procurement that seeks to utilize a single, integrated process for purchasing and supply chain management. So, as opposed to sourcing which is the actual […]. So, as opposed to sourcing which is the actual […].

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. Check out my other page on s trategic sourcing A procurement assessment of needs is a systematic evaluation conducted by organizations to determine their requirements for goods, services, or works.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. In doing so, procurement professionals are ascending the corporate stairs to have a more visible seat in their business’s strategic sourcing. Strategic sourcing best practices. Here are four best practices for strategic sourcing: 1.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

NOVEMBER 27, 2019

So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. If Procurement follows a Strategic Sourcing process flow like a checklist, then all Strategic Sourcing projects will start and end in the same way.

Strategic sourcing 113

Strategic sourcing Strategic sourcing Sourcing Suppliers 113

SCMDOJO

FEBRUARY 21, 2025

Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supply chain disruptions, a robust procurement strategy is no longer optionalits essential. Optimize costs without compromising supply chain continuity. Enhanced Agility: Enables rapid response to unexpected supply chain changes.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59

Spend Matters

JANUARY 23, 2025

The momentum around this ‘best practice’ has been further accelerated by the marketing efforts of market intelligence companies selling data and even a few purpose-built software platforms to make these efforts more efficient and accurate. Thus, should-cost models often misrepresent what constitutes a good price.

Price 104

Price Negotiation supply chain software solutions Supply Chain Optimization 104

Skill Dynamics

FEBRUARY 13, 2025

Supply chain and procurement have undergone a seismic change in recent years. Increased globalization, constant digital transformation, and ever-evolving consumer demands have led to a situation where traditional supply chain skills are simply no longer enough for success.

Supply Chain Optimization 52

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

Procurement Tactics

MARCH 16, 2023

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.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

SCMDOJO

MARCH 24, 2025

However, due to bulk purchasing negotiations, the company secures a discount and purchases the material at $4.50 This positive variance is achieved through effective negotiations, efficient internal management, and leveraging market opportunities. per unit, reducing the actual cost to $90,000.

Price 69

Price Purchasing supply chain budgeting Raw materials 69

Procurement Tactics

AUGUST 25, 2022

In 2022, he was awarded the Special Mentioned Individual Award by Supply Chain Asia for his contribution to the national emergency procurement for the Covid-19 operation. Furthermore, He was voted by Supply Chain Digital as one of the top 10 procurement executives worldwide. Omid Ghamami. Trillion budget. .

Procurement 231

Procurement Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 231

Procurement Tactics

JUNE 28, 2023

Negotiation Course Learn from industry experts who negotiated billion $ deals 2. In this article, we are going to explore what procurement tracking is, its importance in business and the tools to be used when conducting it for its efficient execution.  Menu Course Library 1. Procurement Tracking: Why is it Important?

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Procurement Insights

APRIL 2, 2025

EDITOR’S NOTE: Chevron was IN NO WAY involved with the following assessment, although I think they will find it to be an interesting read because it leverages their known capabilities and aligns them with my prior research and discussions on procurement efficiency, Shared Services, and Hansens RAM principles.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement solutions Supply Chain Efficiency Procurement 52

Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

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

Skill Dynamics

FEBRUARY 4, 2025

Strategic Sourcing and Supplier Relationship Management Strategic sourcing skills are crucial for procurement professionals to effectively identify and then leverage opportunities within the supply base to create value. Strategic sourcing can also help reduce the overall risk in a given supply chain.

Procurement 59

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 59

Procurement Heads

DECEMBER 7, 2022

We have three key areas: strategic sourcing, category management and vendor management, which is the onboarding and management of our suppliers and so on. We have 11 people in the function across strategic sourcing and vendor management, mainly based across two locations: London and Sofia in Bulgaria.

Strategic sourcing 246

Strategic sourcing Strategic sourcing Vendor management Category management 246

Jaggaer

FEBRUARY 20, 2025

Yet in the case of source to pay, it is wholly justified. The term refers to the entire journeyfrom finding suppliers and negotiating contracts to finalizing agreements and making the final payment for goods. This sequence of tasks is sometimes referred to as source to contract, and they form the upstream elements in S2P.

Sourcing 52

Sourcing e2e Supply Chain Efficiency Strategic sourcing 52

Procurement Tactics

MAY 24, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Vendor Scorecards — Everything You Should Know Vendor scorecards simplify vendor management and are an important factor in monitoring supplier performance. However, what is it?

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Skill Dynamics

JANUARY 14, 2025

They can improve performance, lead to stronger strategic alignment, and enhance the career development opportunities for your procurement staff. A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation.

Procurement 59

Procurement supply chain budgeting Procurement team Supply Chain Efficiency 59

Jaggaer

FEBRUARY 28, 2025

However, the top three procurement challenges featured in the Hackett Group report demand immediate attention: slashing spending costs, securing supply chain resilience, and modernizing outdated operating models. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Supply Chain Optimization Real-time Visibility 52

Jaggaer

OCTOBER 24, 2024

Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain. Multi-tier supplier collaboration involves building transparency with and beyond your first tier suppliers. The Role of Communication in Supply Chain Collaboration Communication puts collaboration in motion.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

Let's Talk Supply Chain

MARCH 2, 2025

Let’s set sail on a journey towards efficient and effective supply chain management. By harnessing the power of data analytics and strategic insights, organizations can proactively mitigate the impact of tariffs on their supply chains while enhancing‍ operational efficiency and cost-effectiveness.

Supplier relationship management 52

Supplier relationship management Data Suppliers Supply chain resilience 52

Procurement Insights

MARCH 16, 2025

MCP ensures that AI-driven procurement solutions retain, process, and apply relevant context to enhance decision-making and operational efficiency. MCP ensures that AI remembers preferred bid evaluation metrics , supplier preferences, and prior negotiations. How They Intersect in Procurement Aspect Model Context Protocol (MCP) Jon W.

Supply Chain Optimization 52

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

Procurement Software

MARCH 16, 2025

While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. By automating routine tasks, streamlining communication, and centralising information in one single source of truth, you create tangible quick wins.

Procurement 52

Procurement Real-time Visibility Supply Chain Efficiency Purchase orders 52

Una

AUGUST 31, 2023

Overcoming Challenges with Strategic Sourcing for SMEs Explore how strategic sourcing for SMEs can help procurement professionals overcome the unique challenges of operating a small business. Data-driven decision making For many organizations, the number-one way to “get strategic” is through data-driven decision-making.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Tactics

JUNE 7, 2023

It is a common concept in cost accounting and is used to evaluate the efficiency of a company’s purchasing process. Proper utilization of this metric yields a crucial understanding of the procurement organization’s efficiency in achieving cost reduction objectives. Why is it Important?

Price 130

Price Purchasing Raw materials Negotiation 130

SCMDOJO

DECEMBER 14, 2023

Team Dynamics: Comprises a team of experts, providing a collaborative approach to sourcing solutions. Task-Specific Services: Primarily involved in tasks like supplier identification, negotiation, and quality control. READ MORE ON: “STRATEGIC SOURCING VS. PURCHASING – 7 KEY DIFFERENCES” at our website SCMDOJO!

Sourcing 104

Sourcing Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain 104

Procurement Tactics

AUGUST 23, 2022

The contract management process involves contract request, authoring, negotiation, approval stages, execution, and signature. Want to take your negotiation results to the next level? The contract management process does not get enough attention as much as supply chain management and process automation. Negotiation.

Contract management 130

Contract management Contract supply chain software solutions Management 130

IBM Supply Chain Blog

FEBRUARY 28, 2024

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

Sourcing 94

Sourcing Strategy Supply Chain Efficiency e2e 94

Procurement Tactics

AUGUST 16, 2022

However, many organizations create problems for themselves due to a lack of supplier relationship management and the lack of strategic sourcing. . Want to take your negotiation results to the next level? Having strong supplier management will enable the organization to find cost savings opportunities in the supply chain.

Suppliers 130

Suppliers Supply Chain Efficiency Management Supplier relationship management 130

Future Purchasing

OCTOBER 4, 2022

Areas to consider would include current performance issues, current and future business requirements, current and future spend, cost structures, suppliers, supply markets, supply chains, technology roadmaps etc. It creates cost efficiencies across spend categories and minimises supply risks through improved supplier selection.

Category management 59

Category management Strategic sourcing Strategic sourcing Sourcing 59

SCMDOJO

APRIL 3, 2022

Procurement specialists can use eAuctions to engage and negotiate with more vendors utilizing an organized approach which thus eliminates any need for cumbersome one-on-one meetings. Digital bidding, or eAuctions, are a more efficient way of negotiating with vendors in the international market. Macfarlane, 2017).

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

World of Procurement blog

MAY 8, 2024

It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk. Purchasing relies on more basic solicitation processes.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

SCMDOJO

AUGUST 21, 2023

Try this as a tongue twister: “Tripping through tantalizing TikTokers, tenfold to transform your tangled supply chain!” In our digital age, where viral trends dominate, TikTok’s influence now extends to supply chain management. Discover the Top 10 TikTokers reshaping how you view supply chains.

Supply Chain Optimization 98

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain supply chain software solutions 98

TYA Suite

NOVEMBER 25, 2024

What is strategic sourcing and how does it work? Strategic sourcing is a method used by businesses to buy goods and services in a way that focuses on long-term value, not just short-term savings. Strategic is about building strong, lasting relationships with suppliers that deliver the best overall value.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40