Price negotiations Real-time Visibility supply chain budgeting 
SCMDOJO
MARCH 24, 2025
A favorable variance indicates that the company is spending less than planned, whereas a positive outcome means the company is spending more than the planned budget. Why is Purchase Price Variance (PPV) Important? Every business aims to increase its profit margin, and one effective way to achieve this is by cutting costs.
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. While this approach may result in short-term savings, it can be counterproductive in the long run.
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IBM Supply Chain Blog
APRIL 4, 2024
Conversely, it has a larger scope than task management, which deals with individual tasks, and project management, which handles one-time initiatives. By establishing standardized workflows and decision rules, BPM streamlines the claims process by reducing processing times and minimizing errors.
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. In summary, procurement is a strategic function focused on maximizing value, reducing costs, and building competitive advantage.
Planergy
JANUARY 19, 2023
How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This would mean that 70% of your spending is going toward one type of product—in this case, stationery—and 30% is being spent on other types of office supplies.
Empowering CPO
JUNE 26, 2023
Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making.
Pipefy
AUGUST 1, 2023
In the past, that meant cutting facilities budgets or reigning in travel allowances. This operations overview, or process visibility , can reveal common areas of waste and bottlenecks that cost companies millions in time and revenue each year. Flexibility You’ve heard it countless times: change is inevitable.
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