Procurement Tactics

AUGUST 22, 2022

It can lead to a loss of savings as organizations tend to pay higher prices for products that can be obtained at a cheaper price. Negotiating the costs with the supplier, even if it is small in quantity, can result in savings of 20 to 30% of the total indirect spending of an organization. How to Manage the Tail Spend.

Purchasing 130

Purchasing Suppliers Negotiation Spend management 130

Spend Matters

AUGUST 15, 2024

Bad Practice 3: Replacing over-reliance on legacy tech vendors with a resilient approach Supply chain managers recognize dual sourcing for critical materials and parts as an essential resiliency practice. This dependency also fosters complacency among legacy tech vendors, hindering innovation and regular updates.

supply chain software solutions 115

supply chain software solutions Agile and Lean Supply Chain Supply Chain Efficiency Supply chain 115

SCMDOJO

OCTOBER 27, 2023

The following are common types of negotiation in procurement: 1. Price Negotiation: This negotiation focuses on haggling over the cost of goods or services to obtain the best price for procuring products or services. E-Sourcing Platforms: E-sourcing platforms exist to ease the negotiation process.

Supplier negotiation 105

Supplier negotiation Negotiation Suppliers Supply Chain Efficiency 105

Procurement Insights

OCTOBER 8, 2024

Here are the Top 3 concerns for CPOs in 2005: Cost Reduction and Procurement Savings Globalization and Low-Cost Country Sourcing Supplier Relationship Management Conclusion: In 2005, CPOs were heavily focused on cost reduction , globalization , and process efficiency.

Chief Procurement Officer 52

Chief Procurement Officer Supply Chain Efficiency Procurement Supply Chain Optimization 52

Skill Dynamics

OCTOBER 19, 2023

Crafting Effective Sourcing Strategies Turning now to the most effective sourcing strategies, there are: Single-sourcing (relying on one supplier) Dual-sourcing (using two suppliers for redundancy) Multi-sourcing (sourcing from multiple suppliers) Single-sourcing strategy This means relationships with just one supplier can be less complex.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 52

Supply Chain Game Changer

AUGUST 6, 2019

With that mindset you would want to be sure that you are getting the most value for your money when you are making sourcing decisions. They must curate their portfolio by selecting products and sourcing with suppliers that are going to enable achievement of these sales goals. Conclusion.

Management 48

Management Procurement Category management Chief Procurement Officer 48

Zycus Cognitive Procurement

JULY 25, 2022

According to the latest PwC global digital procurement survey report 2022, digital transformation is the third most important priority after cost reduction and strategic sourcing. Source-to-Contract (S2C), Source-to-Pay (S2P) and Procure-to-Pay (P2P) digitization: . Data: management, quality and value generation: .

supply chain budgeting 52

supply chain budgeting Procurement Agile and Lean Supply Chain Management 52

Arkestro

JULY 25, 2024

Another example is price negotiations. While negotiations may seem like a “zero-sum game” where one party benefits over the other, they can actually become mutually beneficial if game theory is applied. For example, consider auctions — game theory can predict bidding behavior when suppliers submit bids in a sealed-bid auction.

Procurement 52

Procurement Bidding Negotiation Price 52

Supply Chain Game Changer

SEPTEMBER 29, 2020

Negotiations and sourcing decisions were made which focused on just in time delivery, supplier/vendor managed inventory and greater flexibility conditions surrounding the delivery of goods and increases/decreases in supply. This process included a focus on total cost of ownership, not just piece price levels.

Inventory 90

Inventory Raw materials Supply Chain Optimization Demand 90

Arkestro

JUNE 25, 2024

This crucial process also introduces a key step for procurement, both with sourcing the equipment as well as the added step in the supply chain of transferring the raw gas to the train and then shipping the liquid gas away from it.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Innovation Supply chain 52

Empowering CPO

DECEMBER 4, 2020

Based on the volumes of packages sent by an organization, the threshold value can be negotiated in shipper agreements up to 4 cu. Maintaining the current threshold or further negotiating a higher threshold can negate impacts of dimensional weight pricing. Negotiating divisor value. feet (7000 cu. Contact us today.

Negotiation 52

Negotiation Price Contract Price negotiations 52

Jaggaer

OCTOBER 24, 2024

Pressuring suppliers to cut prices often leads to reduced quality or service levels, which may result in costly product recalls, lost customers, or damage to the company’s reputation. This is only possible with a solid foundation of reliable data from across the source-to-pay spectrum, together with advanced spend analytics.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Procurement Software

MARCH 11, 2022

In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategic sourcing and supplier collaboration. Having the CFO or a senior finance stakeholder on board as a sponsor.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategic sourcing and supplier collaboration. Having the CFO or a senior finance stakeholder on board as a sponsor.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Pipefy

NOVEMBER 3, 2023

The time and energy procurement teams spend dealing with these problems is time taken fromvalue-driving activities such as market analysis, price negotiation, vendor management, and quality control. What this means for procurement This growing interest and investment in BPA software is good news for procurement teams. Pipefy, 2023.

Procurement 52

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

IBM Supply Chain Blog

APRIL 4, 2024

Through BPM, disparate data sources—including spend data, internal performance metrics and external market research—can be connected. Workflows can be established that govern each stage of the procurement lifecycle, from sourcing to payment. This ensures that strategic decisions are based on reliable insights.

Real-time Visibility 54

Real-time Visibility Management e2e Supply Chain Efficiency 54

Una

SEPTEMBER 26, 2023

Price Disputes: The characters often argue over money, particularly when experiencing job losses and periods of unemployment. Similarly, procurement professionals often face pressure to cut costs, and price negotiations can become heated, potentially souring the supplier relationship.

Suppliers 52

Suppliers Supply Chain Efficiency Negotiation Supply chain 52

Empowering CPO

JULY 2, 2023

This involves everything from identifying requirements and sourcing suppliers to negotiating contracts, placing orders, and managing supplier relationships. In essence, it’s a critical business function that ensures the right goods and services are available at the right time, in the right quantities, at the right price.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Pipefy

JANUARY 5, 2023

This happens when different teams, departments, locations, or employees use their own unique variations of a process such as purchasing or sourcing. Errors can cost companies directly if prices are entered incorrectly or discount deadlines are missed, or indirectly when mistakes have to be corrected. Strategic sourcing.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 52

Procurement Software

MARCH 11, 2022

What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Direct materials that go into the production process are strategically sourced. 3) Vendors not actively managed.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

What many companies don’t realise though is that direct materials have been negotiated to death. Old school, pure-play price negotiations don’t work, especially in an inflationary market. Direct materials that go into the production process are strategically sourced. 3) Vendors not actively managed.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Finale Inventory

JULY 1, 2024

This involves sourcing and procuring ingredients needed for production. Factors such as price negotiations, contract terms, and ethical sourcing practices all play a crucial role in maintaining a sustainable and reliable supply chain. This involves transforming the raw ingredients into finished food and beverage products.

Supply Chain Efficiency 40

Supply Chain Efficiency Supply Chain Optimization Inventory supply chain software solutions 40

Planergy

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. While the main goal is to reduce costs and improve sourcing, it can also help improve supplier relationships, giving your organization a competitive advantage. How to gain visibility and control of your indirect spend.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Empowering CPO

JUNE 26, 2023

Strategic Sourcing: By analyzing spending patterns, healthcare organizations can identify opportunities for strategic sourcing. This involves optimizing supplier selection, negotiating favorable contracts, and leveraging volume discounts, resulting in cost savings without compromising quality.

supply chain budgeting 52

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

Pipefy

AUGUST 1, 2023

It can also reveal the sources of these issues, which gives leadership the means to create a plan of action to not only solve them, but also withstand market volatility, develop the business, and take it into the future. The sources of bottlenecks are sometimes common knowledge and easy to spot. Where is improvement needed?

Strategy 52

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

Pipefy

MAY 9, 2023

Effective modern procurement requires end-to-end process tracking to both view and control the costs, sourcing, quality, and delivery times associated with acquired goods and services. Too many suppliers, on the other hand, can be a financial detriment, as it significantly lowers the chances for discounts and successful price negotiations.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

Empowering CPO

JUNE 27, 2023

With this knowledge, organizations can foster stronger relationships, negotiate favorable contracts, and collaborate more effectively with suppliers to drive innovation and continuous improvement. The first component involves collecting data from various sources, such as procurement systems, invoices, contracts, and financial records.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

Arkestro

JUNE 11, 2024

These events have increased the price of fuel, freight costs, and other goods and services while causing delays, sourcing challenges, and additional worker shortages. On the other hand, contract rates are low-effort but higher cost, since carriers must consider market risks and volatility over the lifetime of the contract.

Innovation 52

Innovation Procurement Supply Chain Optimization Real-time Visibility 52

Procurement Tactics

JULY 11, 2022

Example 1 — CASE-STUDY: PRICE NEGOTIATION BETWEEN AMAZON AND WHOLE FOODS. Actual case: The case study is based on a real-life price negotiation between Amazon.com and Whole Foods Market. . Negotiation Gamechanger Certificate Program. International Longshore and Warehouse Union. North Korea vs South Korea.

Negotiation 130

Negotiation Procurement Bidding Ethics 130