Procurement Leaders

AUGUST 19, 2024

With many procurement teams working to develop outstanding supplier diversity schemes that help create a more inclusive and equitable world, the awards are an important opportunity to celebrate the power businesses have to make a difference.

Data 130

Data Price negotiations Procurement team Procurement 130

Procurement Tactics

SEPTEMBER 2, 2022

The procurement department can work with potential suppliers to get the best deal whether it is from a reduced overall price for longer contracts or through value-added services. . Having a contract will help organizations to avoid price increases in the long run by locking in a discount for several years. Price Negotiations.

Budget 130

Budget Price negotiations Negotiation Price 130

SCMDOJO

MARCH 6, 2022

A blanket purchase order, also defined as a standing purchase order, is a long-term agreement between a company and a supplier to offer items or services at a certain price over a specified length of time on a regular basis. Suppliers may respond by sending several invoices with the same BPO ID. Improve Efficiency.

Purchase orders 138

Purchase orders Purchasing Quantity Contract 138

Procurement Tactics

AUGUST 22, 2022

Additionally, it is important to define the length of the tail based on the organization’s core and strategic suppliers. . Tail spend can simply be defined as any supplier that is not being actively managed by procurement. It does not matter which supplier you pick as long as it aligns with the business. Editor's note: Hi there!

Purchasing 130

Purchasing Suppliers Negotiation Spend management 130

Procurement Insights

DECEMBER 14, 2024

ProPurchaser Focus: Commodity cost tracking and price negotiation support. Key Features: Tracks changes in commodity cost drivers to aid negotiation. Provides data on suppliers’ production costs. Target Audience: Procurement professionals seeking data to strengthen price negotiations.

Price negotiations 64

Price negotiations Negotiation supply chain budgeting Price 64

Spend Matters

AUGUST 15, 2024

Previously, efficient performance satisfied stakeholders, with suppliers delivering on time and in full. If a supplier portal wasn’t functioning, if a P2P system wasn’t correctly matching invoices with the proper Purchase Order or if data was inaccessible or missing, IT was often identified as the bottleneck.

supply chain software solutions 115

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

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.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Una

SEPTEMBER 26, 2023

How to Repair Damaged Supplier Relationships Learn how to repair damaged supplier relationships by using communication, trust-building, and negotiation tactics to get back on track. Surprisingly, the breakdown of a supplier relationship can sometimes resemble a spat between the main characters of the 1990s hit series.

Suppliers 52

Suppliers Supply Chain Efficiency Negotiation Supply chain 52

Supply Chain Opz

MARCH 31, 2015

Background Historically, purchasing people are considered a kind of clerical workers who are expected to perform basic tasks such as document issuance and price negotiation. In this article, we will uncover the best purchasing books to help you get the edge over competition. Raudabaugh, Robert Kromoser, Michael F.

Purchasing 111

Purchasing supply chain budgeting Price negotiations Supply chain management 111

Procurement Insights

OCTOBER 8, 2024

Here are the Top 3 concerns for CPOs in 2019: Cost Reduction and Efficiency Digital Transformation and Procurement Technology Supplier Risk and Disruption Management Conclusion: In 2019, CPOs were at the intersection of cost management, digital transformation, and sustainability.

Chief Procurement Officer 52

Chief Procurement Officer Supply Chain Efficiency Procurement Supply Chain Optimization 52

Skill Dynamics

OCTOBER 19, 2023

Your business needs a broader vision to address sustainability, deliver on risk management and resilience challenges, nurture buyer and supplier relationships, as well as meet procurement excellence. Relying on a single supplier can pose risks if that supplier faces problems such as logistics disruptions or quality issues.

Supply Chain Optimization 52

Supply Chain Optimization Strategy Procurement Vendor management 52

Arkestro

JULY 25, 2024

In procurement, game theory can be applied to one party’s strategic advantage (or mutual advantages between suppliers and buyers) in myriad ways. For example, consider auctions — game theory can predict bidding behavior when suppliers submit bids in a sealed-bid auction. Another example is price negotiations.

Procurement 52

Procurement Bidding Negotiation Price 52

Una

NOVEMBER 13, 2023

How to Negotiate in a Power Imbalance Strategies you can use to negotiate in a power imbalance and level the playing field in a way that leads to win-win outcomes for everyone involved. For reasons beyond your control, you need to deal with a gigantic supplier. This supplier has resources on steroids.

Negotiation 52

Negotiation Purchasing Price Suppliers 52

World of Procurement blog

OCTOBER 13, 2020

Procurement people may be informed in the final process when all is set and the only task left is to place an order to the supplier. Early-buyer-involvement in the process is helpful for the organization and the supplier(s). If suppliers have been working with the buyers for different projects, this relationship can even be useful.

Management 52

Management Procurement Buyers Negotiation 52

World of Procurement blog

MAY 8, 2024

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

Zycus Cognitive Procurement

JULY 25, 2022

This is primarily due to the pandemic which shifted the focus to the more urgent issues such as digital transformation, securing supplies, managing supply chain risks, pricing negotiations etc. In addition, digital procurement can help streamline the supplier management process, making finding and onboarding new suppliers easier.

supply chain budgeting 52

supply chain budgeting Procurement Agile and Lean Supply Chain Management 52

Procurement Software

JUNE 25, 2024

This allows you to identify high-value areas where negotiations could lead to better terms, bulk purchase discounts, or more cost-effective suppliers. Collaborate with Suppliers Engaging with your suppliers can uncover additional savings opportunities.

Procurement 52

Procurement Supply Chain Efficiency Chief Procurement Officer Price 52

Planergy

JANUARY 19, 2023

Using ABC Analysis: Class A: These purchases account for 80% of your total cost of purchases for 20% of suppliers. Class B: These purchases account for 15% of the total cost of purchases for 30% of suppliers. Class C: Tail Spend: These purchases account for 5% of your total cost of the purchases for 50% of your suppliers.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 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. Bonuses or additional goods / services provided at no extra cost.

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. Bonuses or additional goods / services provided at no extra cost.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Supply Chain Game Changer

AUGUST 6, 2019

It is the group that you have to go to in order to get RFQs sent out, to get POs placed or changed, or to deal with performance issues from those pesky suppliers. They must curate their portfolio by selecting products and sourcing with suppliers that are going to enable achievement of these sales goals. Procurement Responsibilities.

Management 48

Management Procurement Category management Chief Procurement Officer 48

Procurement Software

MARCH 11, 2022

Old school, pure-play price negotiations don’t work, especially in an inflationary market. This can usually range from suppliers with an annual spend below $100k to $1 million. Then, combine this with an e-sourcing platform such as DeepStream that suppliers, stakeholders and procurement teams alike all enjoy using.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Procurement Software

MARCH 11, 2022

Old school, pure-play price negotiations don’t work, especially in an inflationary market. This can usually range from suppliers with an annual spend below $100k to $1 million. Then, combine this with an e-sourcing platform such as DeepStream that suppliers, stakeholders and procurement teams alike all enjoy using.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 52

Pipefy

MAY 9, 2023

To help you meet yours, we’ve compiled a list of 22 essential procurement KPIs that fall into three business categories: suppliers, staff, and operational. Supplier KPIs Suppliers, by definition, comprise a crucial link in your supply chain. Number of suppliers The number of suppliers carries more weight than you might think.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

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. Data-Driven Decision-making: Informed decision-making is crucial in healthcare.

supply chain budgeting 52

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

Arkestro

JUNE 25, 2024

The majority of line items are never negotiated, and teams rely on catalog buys to expedite processing at the expense of price negotiation. Over time this can translate into millions, if not billions, of lost savings, paying over the market price, and, ultimately, losing the art of negotiation at the heart of procurement.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Innovation Supply chain 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

IBM Supply Chain Blog

APRIL 4, 2024

Workflows can be established that govern the movement of goods from supplier to customer. By automating tasks such as supplier qualification, RFx management, and purchase order processing, BPM reduces cycle times and improves efficiency.

Real-time Visibility 54

Real-time Visibility Management e2e Supply Chain Efficiency 54

Empowering CPO

JULY 2, 2023

This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reduce costs. This involves everything from identifying requirements and sourcing suppliers to negotiating contracts, placing orders, and managing supplier relationships.

Management 40

Management Supplier relationship management Procurement Strategic sourcing 40

Pipefy

JANUARY 5, 2023

Errors can cost companies directly if prices are entered incorrectly or discount deadlines are missed, or indirectly when mistakes have to be corrected. Manual tasks take up time that could be better spent on value-producing activities such as price negotiations or vendor relationship management. Supplier management.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 52

Finale Inventory

JULY 1, 2024

Suppliers must be carefully selected to ensure the quality and consistency of the raw materials that will be used in the production process. Establishing strong relationships with suppliers is paramount to guarantee a stable supply of raw materials. This involves sourcing and procuring ingredients needed for production.

Supply Chain Efficiency 40

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

Empowering CPO

JUNE 27, 2023

We have helped numerous organizations achieve significant cost savings, enhance supplier relationships, mitigate risks, and streamline procurement processes through our category spend analysis services. We will explore cost reduction opportunities, supplier performance enhancement, risk mitigation, and compliance assurance.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

Jaggaer

JANUARY 14, 2020

For example, contract analysis that uses previous data to identify opportunities and weaknesses in your supplier agreements offer savings beyond what humans might negotiate manually. Tracking spend is a good first step, but big data and the tools that leverage it can bring your workflows to a new level.

Supply Chain Efficiency 40

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

Procurement Talk with David Byrne

MAY 30, 2024

Listen on Apple Podcasts Listen on Spotify Watch on YouTube Summary In this episode, Martin Smith interviews Gavin Boswell, the Director of Procurement at Serco. They discuss Gavin’s 10-year career at Serco and the evolution of procurement over the past 30 years and the changing role of procurement professionals.

Leadership 52

Leadership Sustainability Procurement Price negotiations 52

Procurement Tactics

OCTOBER 20, 2022

It was also one of the World Food Programme’s (WFP) top wheat suppliers before the war began. . Russia’s strategy of blocking Ukraine’s Black Seaports had driven up food prices and created bottlenecks in food commodity supply chains that prevented Ukraine from fully utilizing its exporting capacities. . LEARN MORE. 10 ?????.

Export 214

Export Price Price negotiations Suppliers 214

Arkestro

JUNE 11, 2024

Here are a few ways companies are leveraging predictive procurement and AI to make data-driven decisions related to procurement strategies, supplier relationships, resource allocation, and more. With Arkestro, the organization was able to run a nationwide event involving about roughly 350 carriers.

Innovation 52

Innovation Procurement Supply Chain Optimization Real-time Visibility 52