World of Procurement blog

MAY 8, 2024

What is Procurement? Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Software

MARCH 11, 2022

Like it or not, cost avoidance is a hard sell to most CFOs. Procurement organisations are still primarily measured on cost savings. For anyone working in indirect procurement, this is especially frustrating. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

Like it or not, cost avoidance is a hard sell to most CFOs. Procurement organisations are still primarily measured on cost savings. For anyone working in indirect procurement, this is especially frustrating. Acknowledging cost avoidance: Why measuring procurement performance on hard savings alone is futile.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Pipefy

JANUARY 5, 2023

Digitalization is no longer the leading edge of procurement innovation — it’s the new industry standard. Businesses of every size and in every industry are using digital procurement to standardize processes, unify systems, and contain costs. What is digital procurement? Benefits of digital procurement.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 52

Pipefy

MAY 9, 2023

Definition of procurement KPIs Key performance indicators (KPIs) are measurements of the efficacy of a business department, process, or strategy. They are essential to measure the costs and reliability of a business strategy, as well as the performance and results. After all, your shortages are their problem, as well.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

Planergy

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Practical Applications of Pareto Analysis Tips for Conducting a Successful Analysis How Pareto Analysis Helps Your Procurement Strategy? How to report and analyze indirect spend to identify savings opportunities.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Procurement Software

JUNE 25, 2024

Procurement cost savings stand out as a critical lever in the pursuit of trimming down expenses without compromising on quality. However, the work of procurement goes beyond just delivering price reduction and cost reduction. It’s not only about reducing expenses.

Procurement 52

Procurement Supply Chain Efficiency Chief Procurement Officer Price 52

Jaggaer

OCTOBER 24, 2024

Maximizing Cost Savings Through Strategic Supplier Collaboration With the growing emphasis on long-term value creation, Chief Procurement Officers are increasingly turning to supplier collaboration as a cornerstone of cost reduction. Resolving these challenges requires a dynamic, iterative approach.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Empowering CPO

JULY 2, 2023

Introduction Welcome to our latest discussion on a crucial facet of business operations: Managed Procurement Services. If you’re new to the term, Managed Procurement Services refers to the outsourcing of a company’s procurement functions to a specialized firm.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Empowering CPO

JUNE 26, 2023

This is where spend analysis steps in as a powerful tool to help healthcare organizations gain deep insights into their procurement activities. In healthcare, where budgets are tight and patient care is the top priority, effective spend analysis holds tremendous value. Understanding the Healthcare Landscape A.

supply chain budgeting 52

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

Jaggaer

JANUARY 14, 2020

By optimizing the areas where you spend the most, your compan y and organization can drive significant savings in your supply chain. Curiously enough, big companies that are providing raw materials to other P2P companies tend to have their procure-to-pay be less of a focus,” Charles says. How to Reduce Indirect Spend.

Supply Chain Efficiency 40

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

Procurement Software

MARCH 11, 2022

But Procurement plays a vitally important role to plug the holes in the bucket, stopping the leakages from all of that new revenue that our Sales colleagues are generating. What many companies don’t realise though is that direct materials have been negotiated to death. Procurement technology providers have recently caught on to this.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

But Procurement plays a vitally important role to plug the holes in the bucket, stopping the leakages from all of that new revenue that our Sales colleagues are generating. What many companies don’t realise though is that direct materials have been negotiated to death. Procurement technology providers have recently caught on to this.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Pipefy

AUGUST 1, 2023

In the past, that meant cutting facilities budgets or reigning in travel allowances. Business operations generally fall under the umbrella of one of the following categories: product management, supply chain, inventory, forecasting, scheduling, quality, or facilities planning. Operations are, after all, where the money is spent.

Strategy 52

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

IBM Supply Chain Blog

APRIL 4, 2024

Benefits: Streamlined service request handling Centralized knowledge base access Enhanced customer satisfaction and loyalty Financial management BPM is used to streamline financial processes such as budgeting, forecasting, expense management, and financial reporting. This created an expensive problem.

Real-time Visibility 54

Real-time Visibility Management e2e Supply Chain Efficiency 54