Procurement Insights

DECEMBER 13, 2024

For a comprehensive understanding of how these AI agents will transform procurement and supply chain operations, GEP offers a detailed white paper on the subject. I will also be digging deeper into the GEP white paper. The Initial Takeaway To start, GEP seems to be moving (or trying to move) in the right direction.

Supply Chain Efficiency 59

Supply Chain Efficiency Agile and Lean Supply Chain Supply chain Supplier relationship management 59

NLPA (Next Level Purchasing Association)

FEBRUARY 14, 2024

Choose a strategy based on your needs Implementation Methods for Procurement Strategy Cost Reduction Strategies : Techniques include negotiating better pricing, early payment discounts, and volume discounts. Strong contract negotiation helps manage risks. Value engineering (finding alternatives) and reducing waste can also contribute.

Procurement strategies 52

Procurement strategies Supply Chain Optimization Strategy Procurement 52

Jaggaer

APRIL 8, 2019

You spend lots of time on negotiation to drive the best price. Maverick spending is just one of the six challenges listed in our white paper on transparency in indirect spend. But, whatever the motive or the cause, maverick spending still has a serious impact on your business. And there’s a lot of this going on.

Contract 66

Contract Purchasing Suppliers Quality 66

Supply Chain Collaborator

NOVEMBER 10, 2015

The cost of not using a TMS system and leaving important choices to be influenced by anything or anyone other than your business rules far outweighs the cost of buying donuts once a week for your transportation department employees.

Influencing 60

Influencing Import Negotiation Logistics 60

Jaggaer

DECEMBER 13, 2018

Procurement teams can invest their energy in negotiating with suppliers, optimizing their sourcing networks, and having conversations with their users, rather than generating reports and handling manual tasks, allowing them to examine more information rapidly and uncover more opportunities.

Procurement team 63

Procurement team Procurement Contract Negotiation 63

Procurement Heads

MAY 9, 2023

It is being able to draw that broad balance between knowing your craft, you can write a contract and lead a negotiation but it is the ability to translate that into the business and be the bridge between the two. I once read an interview with someone who described it as half technical capabilities and half therapist and I think that is it!

Risk 130

Risk Procurement Sustainability Supply chain 130

Procurement Heads

MAY 9, 2023

It is being able to draw that broad balance between knowing your craft, you can write a contract and lead a negotiation but it is the ability to translate that into the business and be the bridge between the two. I once read an interview with someone who described it as half technical capabilities and half therapist and I think that is it!

Risk 130

Risk Procurement Sustainability Supply chain 130

NLPA (Next Level Purchasing Association)

APRIL 5, 2023

To succeed in this field, procurement professionals must possess a variety of competencies, ranging from negotiation and supplier management to risk assessment and financial analysis. In this case, the root of the problem was the company’s lack of negotiation skills when dealing with regulators.

Procurement 52

Procurement Negotiation supply chain budgeting Supply Chain Optimization 52

NLPA (Next Level Purchasing Association)

MAY 8, 2024

This data can then be used to negotiate better deals with suppliers, consolidate purchases, and streamline procurement processes. The Learning site also includes learning resources, including live and on-demand webinars, publications and reports, articles, templates, white papers, and more!

Real-time Visibility 52

Real-time Visibility Supplier consolidation Suppliers supply chain software solutions 52

NLPA (Next Level Purchasing Association)

JANUARY 14, 2022

Again, per the white paper Avoid The Pitfalls in Supplier Development, the next step is to form a cross-functional team. A similarity between negotiation and supplier development is that you must watch your size versus a supplier’s size. Collaborate with other people. So now you have a supplier that you want to develop.

Suppliers 52

Suppliers Supply Project management Contract management 52

NLPA (Next Level Purchasing Association)

MAY 8, 2023

10 Strategies for Improving Supplier Relationship Management SRM You Do Have A Late-Stage Negotiation Strategy, Don’t You? NLPA Learning also includes learning resources, including live and on-demand webinars, and reports, articles, white papers, and more!

Supply Chain Visibility 52

Supply Chain Visibility Real-time Visibility supply chain budgeting Supply Chain Optimization 52

Jaggaer

JANUARY 14, 2020

Discover what you can do, and what you can save, when you know your indirect spend with the white paper 6 Challenges Caused by a Lack of Transparency and How to Overcome Them. Experts at McKinsey agree, saying that processes like “negotiating for lower prices yields diminishing returns over time.”

Supply Chain Efficiency 40

Supply Chain Efficiency Raw materials supply chain budgeting Supply Chain Optimization 40

NLPA (Next Level Purchasing Association)

SEPTEMBER 21, 2023

The course will empower your professionals to: Assess Supplier Pricing Competitiveness Develop should-cost models to evaluate the competitiveness of supplier pricing, a critical skill for negotiation. Develop Target Pricing Models Create target pricing models to inform negotiation strategies and achieve cost savings.

Procurement 52

Procurement Supply Chain Optimization Supply Chain Efficiency Supply chain management 52

NLPA (Next Level Purchasing Association)

MAY 7, 2023

10 Strategies for Improving Supplier Relationship Management SRM You Do Have A Late-Stage Negotiation Strategy, Don’t You? NLPA Learning also includes learning resources, including live and on-demand webinars, and reports, articles, white papers, and more!

supply chain budgeting 52

supply chain budgeting Demand Strategic planning Demand Planning 52

NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

By leveraging data analytics, procurement teams can identify areas for cost savings, such as negotiating better contracts with existing suppliers or consolidating purchases to leverage economies of scale. Strategic Sourcing: Develop a strategic sourcing strategy for each defined category.

Category management 52

Category management Management Procurement Supplier relationship management 52

The Network Effect

JANUARY 17, 2016

Buyer – Bidding/Negotiation (Buy Side). Vendor Sales Rep – Bidding/Negotiation (Sell Side). If you want to learn more, I suggest you read the white paper: Why Wall Street Cares About Your Master Data Management Strategy. Vendor Supply Chain Manager. Enterprise Business Function. Inventory Planner. Demand Planner.

Buyers 40

Buyers Supply Chain Efficiency Networking Bidding 40

NLPA (Next Level Purchasing Association)

JULY 20, 2023

By diligently controlling and optimizing spending, these teams can achieve various benefits: Cost Savings: Effective spend management enables teams to identify cost-saving opportunities, negotiate better deals with suppliers, and eliminate unnecessary expenditures. This directly contributes to the organization’s bottom line.

Management 40

Management supply chain budgeting supply chain software solutions Spend management 40

NLPA (Next Level Purchasing Association)

MARCH 24, 2022

Freight forwarders earn by negotiating shipping rates based on their total volume and selling space at a slightly higher price. NLPA Learning also includes learning resources, including live and on-demand webinars, publications and reports, articles, templates, white papers, and much more! Think Again!

Logistics 52

Logistics Export Buyers Raw materials 52

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

These insights enable data-driven decision-making, negotiation strategies, and risk mitigation, leading to more informed procurement choices. This results in better negotiation outcomes, improved quality, reduced costs, and enhanced overall value delivery.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Arkestro

MAY 9, 2023

Smarter Sourcing Many procurement teams still view eSourcing solutions as risky — yet they’ve been shown to deliver superior results in comparison to all other negotiation methods. The reason is a data-driven negotiation method that influences tail spend and minimizes maverick spend in a period of high inflation.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Optimization Procurement team 52

Procurement Software

JULY 11, 2023

Having clean data , accessible to everyone, is an essential, non-negotiable foundation. Add to this the inevitable “you’ve paid us late for the last year” rabbit that suppliers pull out of a hat when you’re trying to negotiate better pricing or contract terms. That’s the fundamental problem.

Procurement 52

Procurement Chief Procurement Officer supply chain software solutions Supply Chain Optimization 52

The Procuretech Podcast

MAY 31, 2022

This is something that seems surprisingly hard to come by in popular articles and white papers, so here are ten helpful factors to consider. This means you have value, and you should absolutely keep that in your pocket as a negotiating tool. Let’s dive into the list… 10 Key Factors When Choosing A Procurement Solution.

Procurement 52

Procurement Supplier relationship management Procurement solutions Import 52

The Thomas Blog

JULY 12, 2022

For instance, you can notify your target audience about a new white paper you have released or invite them to attend an industry event that you are hosting. Vendors offer different payment packages and here you enter the land of negotiation. Dedicated Emails. In this sense, they are similar to landing pages.

Buyers 134

Buyers Purchasing Strategy Import 134

Procurement Software

FEBRUARY 14, 2023

A lot of the best of lists and a lot of the white papers out there don’t really seem to consider these in their analysis. Then just bear in mind that it could be a nice carrot to dangle as part of your contract negotiations with them. Just make sure that you leverage that as best as you can in your negotiation.

supply chain software solutions 72

supply chain software solutions Procurement Price Sourcing 72

Supply Chain Game Changer

FEBRUARY 9, 2022

Usability: Does project planning software offer tutorials, training, white papers, forums, and customer support to help users? And so, depending on the organization, the PM will or will not manage the budget, participate in employment or negotiate with the client. Does it work with iPhone or Android for planning on the go?

Project management 80

Project management supply chain software solutions Management supply chain budgeting 80

Jaggaer

MAY 19, 2020

In doing so, they not only gained visibility, tracking, negotiation and compliance benefits, but discovered a collaborative way of sharing knowledge and market intelligence to take their supplier value management to a superior level. . A Collaborative Approach. Download it now.

Contract 52

Contract Suppliers Management Contract management 52

Zycus Cognitive Procurement

SEPTEMBER 2, 2021

Negotiating on the flexibility upfront is the key to scaling optimally in cases of a ramp ups (or ramp downs). Click here for a detailed Procurement Solution Implementation white paper. It is imperative to take notes on how much of your staff that will have access to the system. Contact Zycus for more information.

Procurement 40

Procurement Budget Cost of ownership Buying process 40

Jaggaer

MAY 12, 2020

Negotiation Chatbot. To learn more about autonomous procurement and the journey to get there, download our new white paper written by Michael Lamoreux, Spend Matters. Cognitive Automation. Autonomous Procurement. Next-generation Assistant with pattern recognition for self-learning actions and recommendations.

Procurement 52

Procurement Supply Chain Efficiency supply chain software solutions Suppliers 52

NLPA (Next Level Purchasing Association)

DECEMBER 10, 2021

Championship-Caliber Negotiation Preparation. NLPA Learning also includes learning resources, including live and on-demand webinars, publications and reports, articles, templates, white papers, and much more! Is Contract Management a Critical Process? Mastering Procurement Tactics.

Contract 52

Contract Bidding Contract management Sourcing 52

Procurement Software

MARCH 19, 2024

Combining internal data with external data to craft better negotiation and category strategies. A recent white paper from KPMG suggests that there will be three distinct phases of generative AI adoption in procurement teams: 1. What will come next? Prompt-based use cases This is pretty much where we’re at today.

Procurement 52

Procurement Category management supply chain software solutions Data 52

Claritum

JULY 16, 2019

However, consolidating purchases for the organisation makes this spend significant to negotiate with suppliers. White Paper Download: 7 ways to transform eProcurement adoption. For example, the purchase of branded goods for use in marketing may occur in offices spread across the globe. Contact Us. 6 Related Articles.

Procurement 32

Procurement Purchasing Supply Chain Efficiency Real-time Visibility 32

Procurement Zen

SEPTEMBER 4, 2019

personally see it a little bit differently than you can read it in all these white papers and these posts that out there. Tanya: Completely agree. And are there any contractual obligations or any commitments that require us to stay with one supplier for the short or medium term?

Strategy 52

Strategy Influencing Suppliers Import 52

Jaggaer

JANUARY 22, 2019

After nearly five years of negotiations, the EU agreed the largest free trade deal in its history with Japan, and enhanced market access with China. While Brussels tries to improve trade relations with the US, further negotiations will take place in 2019. However, the European Union continues to strike deals to increase free trade.

Procurement 65

Procurement Procurement team Supply chain Negotiation 65

EazyStock

APRIL 21, 2018

In retaliation, the other country will impose tariffs of their own, and so on until a new agreement is negotiated. The US has been hinting at a trip to China to negotiate trade deals, which China has said they’d be receptive to. So why did this trade war start? There are a few reasons.

Export 61

Export Price Import Negotiation 61