Procurement Insights

DECEMBER 20, 2024

Fast ROI Through Cost Savings: Tracks supplier input costs (e.g., commodities) and provides actionable insights for negotiating better prices. Enables procurement teams to capitalize on supplier cost reductions (e.g., declining raw material prices). I then had to ask why, and here are the answers I received.

supply chain budgeting 58

supply chain budgeting Procurement Raw materials Supplier negotiation 58

Procurement Templates

DECEMBER 11, 2024

Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Savings can be cashable or non cashable i.e. cost avoidance.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Cost of ownership 130

SCMDOJO

FEBRUARY 21, 2025

A well-defined procurement strategy doesnt just mitigate risksit adds significant value to your organization : Cost Savings: Strategic sourcing and supplier negotiations reduce procurement costs. Improved Supplier Collaboration: Stronger relationships lead to better service levels and pricing.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59

Procurement Software

MAY 21, 2024

But, this then begs the question, what about negotiation? Could AI replace the need for procurement professionals in negotiations? AI, procurement and supplier negotiations: where is this going? A PO is produced for the negotiated price. The post Will AI replace Procurement in supplier negotiations?

Supplier negotiation 52

Supplier negotiation Negotiation Suppliers Procurement 52

SCMDOJO

MARCH 12, 2025

Evaluating dependency levels, such as the percentage of business a supplier relies on, can determine how much leverage each side holds. Compromising negotiation is a strategy where both parties make concessions to reach a mutually acceptable solution. Case Study Reference: Fmwgn, ljd. 10.13140/RG.2.2.27917.87528. 2.2.27917.87528.

Negotiation 52

Negotiation Supply Chain Efficiency Supply chain Strategy 52

Procurement Tactics

MAY 30, 2023

Their primary responsibilities include negotiating with suppliers to obtain favorable terms and prices, ensuring the quality and timely delivery of goods and services, and managing the procurement process from start to finish.

Management 178

Management supply chain budgeting Procurement Negotiation 178

Procurement Insights

MARCH 16, 2025

pricing trends, geopolitical risks) and contextually compare it with internal procurement data. ABM models supplier behaviors and adjusts negotiation strategies dynamically. Intelligent Market Adaptation: MCP enables procurement AI to track historical pricing trends.

Supply Chain Optimization 52

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

Una

MARCH 6, 2023

Prioritize factors beyond cost We often talk about looking beyond the lowest price when assessing suppliers, but this approach still assumes cost and risk will be the top two considerations. Negotiate in areas other than pricing If a supplier negotiation has reached an impasse, this doesn’t necessarily mean it is doomed to failure.

Purchasing 98

Purchasing Innovation Agile and Lean Supply Chain Supplier relationship management 98

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. Supplier Performance The quality, timeliness, and adherence to contractual commitments of suppliers shall be monitored. This approach promotes efficiency throughout the whole procurement process.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Spend Matters

OCTOBER 24, 2024

Today please get to know COVALYZE From our recent analyst-written Vendor Analysis : Here’s why COVALYZE matters: To the market — COVALYZE offers deep parts analysis (price/cost-focused) for direct materials using AI to scan historic and customer-specific data. We are delighted to introduce you to our Future 5 as we capture their voices.

e2e 119

e2e Data interpretation Buyers Data 119

SCMDOJO

FEBRUARY 26, 2025

indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. However, additional costs resulted in an actual spend of $550,000, This resulted in a CPI below 1, indicating cost inefficiencies in supplier management. The CPI calculation would be: CPI =100,000/120,000 = 0.83.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Raw materials 52

Procurement Templates

MARCH 3, 2024

Market Research : Conducting research on available suppliers, products, and market trends is essential for making informed procurement decisions. This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation. Prioritisation of Needs : Not all needs may be equally urgent or important.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Procurement Insights

MARCH 17, 2025

Heres the breakdown: Overview ProPurchaser : Focus : Provides marketplace intelligence to enhance negotiation outcomes. Core Offering : Tracks commodity prices, production costs, and market trends to arm procurement teams with data for better supplier negotiations.

Negotiation 52

Negotiation Procurement team Real-time Visibility Cost of ownership 52

SCMDOJO

APRIL 20, 2023

A procurement manager is deeply involved in identifying the procurement needs of the organization, researching potential suppliers, negotiating contracts, managing relationships with suppliers, and ensuring that procurement needs are met in a timely and cost-effective manner.

Management 116

Management Procurement Contract management Supply Chain Optimization 116

SCMDOJO

DECEMBER 14, 2023

Negotiation and Contractual Agreements: Getting the Best Deal With a list of potential suppliers in hand, the sourcing agency takes on the role of a skilled negotiator. They engage with suppliers on behalf of the client, discussing pricing, payment terms, delivery schedules, and other critical aspects.

Sourcing 104

Sourcing Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain 104

Una

APRIL 6, 2023

Benefits realization in procurement Without monitoring contract compliance and supplier performance over time, the monetary and other benefits you worked so hard to secure throughout the supplier negotiation can be seriously eroded. What exactly is benefits realization?

Procurement 97

Procurement Supplier relationship management Supplier negotiation Contract 97

The Good Spending

APRIL 2, 2023

To do that, we must establish trustful relations with budget owners, master some inventory and consumption forecasting methods, build and maintain complex SKU and price databases, and much more. Indeed, some colleagues find it simpler to dedicate themselves to tireless supplier negotiations and measure the value creation in savings.

Procurement 98

Procurement Demand Planning Budget Category management 98

Una

NOVEMBER 16, 2022

The centralized procurement team scopes out the project, approaches the market, evaluates suppliers , negotiates a volume discount, and awards the contract to a single supplier. Better communication and relationships with suppliers. Improved supplier risk management. Straightforward commodity price tracking.

Procurement 98

Procurement Purchasing Procurement team Supplier negotiation 98

ivalua

OCTOBER 8, 2021

Rather than relying on store managers to navigate local purchases, Procurement can add value by organizing the effort, evaluating and sourcing local suppliers, negotiating best pricing and delivery options, and automating the process by using technology to simplify inventory management at the local level. Attack GNFR Spend.

Procurement 130

Procurement Supply Chain Optimization Procurement team Purchasing 130

Arkestro

JANUARY 9, 2024

Using a unique blend of behavioral science, game theory, data science, and automation, Arkestro redefines procurement management, tackling challenges such as time constraints, scale, and supplier negotiation.

Competitive bidding 52

Competitive bidding Procurement Supplier negotiation Bidding 52

Una

NOVEMBER 1, 2022

Investing in procurement technology , team training, and supplier relationship management will have greater rewards than short-term selections based on the lowest price or aggressive supplier negotiations.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Templates

APRIL 15, 2024

This can be beneficial in procurement when building relationships with suppliers, negotiating deals, and resolving conflicts. Communication: Good communication skills are often associated with extraversion, which can aid in conveying requirements clearly to suppliers and understanding their offerings effectively.

Influencing 130

Influencing Negotiation Risk Innovation 130

NLPA (Next Level Purchasing Association)

MARCH 16, 2023

My team and I work closely with suppliers to negotiate favorable terms and conditions. We also ensure that we are procuring goods and services at the best possible prices. We also monitor supplier performance to ensure that they are meeting their obligations under our contracts.

Spend management 98

Spend management Management Procurement supply chain budgeting 98

Procurement Insights

DECEMBER 6, 2024

Under Sherkin’s leadership, ProPurchaser tracks commodity cost drivers affecting suppliers’ production costs, providing members with timely alerts to support informed negotiations.

Supply Chain Efficiency 52

Supply Chain Efficiency supply chain software solutions supply chain budgeting Supply Chain Optimization 52

ivalua

MARCH 9, 2023

S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. It starts with identifying the right suppliers for a need, sharing requirements and evaluating supplier offers, selecting the most appropriate supplier, negotiating terms and contracting with them to receive goods and/or services.

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

Una

APRIL 13, 2023

The quality of the product is fine and the price is acceptable, but the whole process was purely transactional because you don’t have a relationship with the supermarket. In scenario one , you’re in a bit of a hurry. You go to the supermarket, head for the meat aisle, pick out a pre-packaged steak, and take it to the checkout.

Suppliers 98

Suppliers Supplier relationship management Agile and Lean Supply Chain Supply Chain Optimization 98

SCMDOJO

APRIL 29, 2024

Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. A well-established sourcing strategy helps businesses secure the best quality materials at the most competitive prices.

Supply chain management 98

Supply chain management Supply chain management Agile and Lean Supply Chain supply chain budgeting 98

Procurement Insights

JANUARY 3, 2025

Here’s a detailed look at how this evolution occurred: 2011: Procurement as a Cost-Saving Function Procurements Perceived Role : CEOs primarily saw procurement as a cost-saving department , focused on negotiating better prices and reducing operational expenses.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Una

SEPTEMBER 22, 2022

This guide to IT procurement is designed to help you navigate the often complex process of searching for and comparing different technology providers, negotiating contracts and pricing, and implementing the right IT tools to drive productivity and efficiency without sacrificing your organization’s bottom line. Integrate and Implement.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Jaggaer

MARCH 6, 2025

JAGGAERs ASO solution empowers businesses to automate and optimize their strategic sourcing processes, enabling them to identify the best suppliers, negotiate optimal pricing, and manage complex sourcing events more efficiently.

Sourcing 52

Sourcing Supplier negotiation Strategic sourcing Strategic sourcing 52

SCMDOJO

DECEMBER 11, 2023

Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction. This may involve negotiating better terms with suppliers, consolidating purchasing volumes, or identifying more cost-effective alternatives, ultimately leading to significant savings.

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

Barkers Procurement

FEBRUARY 20, 2023

Building strong relationships with suppliers is an important aspect of strategic procurement. This includes identifying and evaluating potential suppliers, negotiating favourable terms, and maintaining ongoing communication and collaboration. A focus on value.

Procurement 52

Procurement Cost of ownership Supplier negotiation Quantity 52

World of Procurement blog

APRIL 23, 2024

It involves selecting suppliers, negotiating price, delivery terms, and ensuring the supply of quality goods. Supply Chain Management in Contract Management Supply chain management in contract management involves drafting agreements that govern the terms of engagement with suppliers, vendors, and other partners.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

World of Procurement blog

APRIL 23, 2024

It involves selecting suppliers, negotiating price, delivery terms, and ensuring the supply of quality goods. Supply Chain Management in Contract Management Supply chain management in contract management involves drafting agreements that govern the terms of engagement with suppliers, vendors, and other partners.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

Arkestro

OCTOBER 10, 2023

In April 2020, oil prices dropped from $18 a barrel to roughly -$37 a barrel , going negative for the first time ever on record. Though oil prices rebounded fairly quickly, the dramatic collapse was followed by a difficult recovery journey. But suddenly, everything changed. Likewise, labor rates are growing at more than 9% per year.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 52

Procurement Express

FEBRUARY 15, 2025

This helps you identify cost-saving opportunities, track supplier performance, and ensure purchases align with financial goals. Identify overspending, track budget vs. actuals, and spot opportunities for better pricing or supplier negotiations. Stronger supplier relationships. Better cash flow management.

Procurement 40

Procurement Real-time Visibility Supplier negotiation Contract 40

Una

NOVEMBER 13, 2023

You find yourself rebuffed, and forced to pay the highest price for a product. As negotiators, our goal isn’t to “defeat” or “overcome” larger suppliers, but to find ways to level the playing field, get a fairer deal, and discover win-win outcomes. In practice, this means they don’t particularly need your business. Be flexible.

Negotiation 52

Negotiation Purchasing Price Suppliers 52