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

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. Rather, it maintains it against potential increases.

Procurement 52

Procurement Supply Chain Efficiency Chief Procurement Officer Price 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. Of course, procurement software can help you to achieve all of these much faster. The best opportunities now lie in tail spend management.

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. Of course, procurement software can help you to achieve all of these much faster. The best opportunities now lie in tail spend management.

Spend management 52

Spend management Management Real-time Visibility Competitive bidding 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

Pipefy

JANUARY 5, 2023

Digital procurement means letting go of manual data entry, paperwork, and complex request management and instead opting to use software that streamlines procurement through integration and automation. For example: the ERP system, SAP, Netsuite, and other finance software. Benefits of digital procurement.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 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. This is why supplier diversity is so important.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

IBM Supply Chain Blog

APRIL 4, 2024

These include connecting different systems and software to streamline processes and improve data flow across the organization, for example human resource management (HRM) or customer relationship management (CRM) Human-centric BPM centers around human involvement, often where an approval process is required.

Real-time Visibility 54

Real-time Visibility Management e2e Supply Chain Efficiency 54

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

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.

supply chain budgeting 52

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

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

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