Procurement Leaders

JULY 1, 2024

Scope 3 data has emerged as an increasingly important topic within the Procurement Leaders community as supply chain sustainability has evolved from being a nice to have to a procurement imperative. Last week, we gathered some of our most mature members for a unique invite-only roundtable to deep-dive into the issue.

Collaboration 130

Collaboration Raw materials Agile and Lean Supply Chain Procurement team 130

Procurement Tactics

JUNE 7, 2023

The formula is: PPV = (Actual cost – Standard cost) x Actual quantity An increase in actual costs results in a positive variance, while a decrease in actual costs results in a negative variance. Procurement teams often use these prices as a reference point to evaluate bids. Why is it Important?

Price 130

Price Purchasing Raw materials Negotiation 130

Procurement Tactics

OCTOBER 13, 2022

However, not many people know their real role in procurement. . We will discuss the role of strategic sourcing managers within the procurement team and their responsibilities in a company. Determine the quantity, quality, and timing of the delivery. In this article, we will discuss what a strategic sourcing manager is.

Strategic sourcing 200

Strategic sourcing Strategic sourcing Sourcing Management 200

Procurement Tactics

JUNE 8, 2023

The purchase order is written in great detail and should follow a process that is defined by the company’s procurement team. If your company depends on the daily procurement of materials or services, any delay will cause interruptions in the daily operations of your company or organization.

Purchase orders 130

Purchase orders Purchasing Buyers Quantity 130

Procurement Tactics

JULY 19, 2023

By carefully tracking and managing stock quantities, businesses can avoid stock outs or overstocking. They count the items to make sure they have received the correct quantity. By carefully tracking and managing stock quantities, businesses can avoid stock outs or overstocking. Why is it important?

Supply Chain Optimization 170

Supply Chain Optimization Supply Chain Efficiency supply chain software solutions Supply chain 170

Spend Matters

FEBRUARY 26, 2024

Procurement teams commonly follow this principle to prioritize activities and define focus areas to maximize return on investment. The Pareto principle, named after the Italian economist and sociologist Vilfredo Pareto, states that if focused properly, 20 percent of one’s actions leads to 80 percent of the results.

Market analysis 120

Market analysis Sourcing Spend management Purchasing 120

Jaggaer

OCTOBER 24, 2024

Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

Procurement Tactics

MAY 2, 2023

Using a procurement contract will make the supplier give the needed materials and services based on what you agreed upon in terms of payment, quality, quantity, and payment. However, modern procurement teams are using automated procurement platforms or software to take care of the contracting phase.

Sustainability 181

Sustainability Contract Procurement Negotiation 181

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. This approach promotes efficiency throughout the whole procurement process. Cost Savings Cost savings are achieved through a number of means, by accurately and promptly monitoring the procurement process.

Supply Chain Efficiency 178

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

SCMDOJO

DECEMBER 11, 2023

Item Details and Total Cost: Description, Quantity, and Unit Price: Specifics of the items or services, including descriptions, quantities, and unit prices. Total Cost: The overall cost of the purchase order, calculated based on quantities and unit prices.

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

Procurement Tactics

JULY 20, 2023

By having a record of purchased items, prices, and quantities, you can easily cross-reference purchase orders to correct any mistakes or miscommunications with suppliers. This helps avoid purchase errors and ensures accurate procurement within the organization.

supply chain software solutions 134

supply chain software solutions Suppliers Management Purchase orders 134

Procurement Heads

NOVEMBER 15, 2022

That was a blank slate to start with, but it was great that two of the supply chain team immediately became part of the Group Procurement team as buyers, and together we found the first few projects and synergies. So they were really looking at individual factories, so I straight away looked at the savings and synergies here.

Raw materials 246

Raw materials Buyers Price Procurement 246

Pipefy

MARCH 6, 2023

Phase 1 – Defining needs Phase 2 – Supplier selection Phase 3 – Order management Phase 4 – Purchase evaluation Phase 5 – Supplier management Phase 1 – Defining needs During this initial phase of the procurement cycle, the focus will be on determining what is needed — and when.

Procurement 59

Procurement Procurement team Purchase orders Vendor relationships 59

Procurement Insights

APRIL 8, 2025

minimize total cost = (price quantity)) or AI predictions (Tonkean, Web ID: 8), which can overlook edge cases. Why Better: ABMs agent-level precision suits procurements diverse supplier ecosystems, unlike equation-based generalizations. picking a costlier but faster supplier for an RS/6000 BOM.

Supply Chain Optimization 69

Supply Chain Optimization Supply Chain Efficiency Procurement Agile and Lean Supply Chain 69

World of Procurement blog

APRIL 23, 2024

This step involves determining what goods or services are required, the quantity needed, and the timeframe for delivery. It's essential to accurately define these requirements to avoid over or under-procuring, which can have significant implications on budgets and operations.

Purchase orders 52

Purchase orders Procurement Quantity Budget 52

World of Procurement blog

APRIL 23, 2024

This step involves determining what goods or services are required, the quantity needed, and the timeframe for delivery. It's essential to accurately define these requirements to avoid over or under-procuring, which can have significant implications on budgets and operations.

Purchase orders 52

Purchase orders Procurement Quantity Budget 52

Jaggaer

FEBRUARY 5, 2025

In needs analysis you must therefore work with corporate leadership, business strategists, buying departments and other stakeholders to identify what the businesss specific requirements are in terms of quantity, quality, delivery times, compliance and other factors.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Arkestro

MARCH 11, 2025

A more transparent bid process has the opportunity to solve a number of inefficiencies: Speed Up Negotiations: With clear pricing insights, procurement teams and suppliers dont need to engage in prolonged back-and-forth discussions, and can make faster decisions. Still, its easy to see why most procurement teams go this route.

Real-time Visibility 52

Real-time Visibility Procurement Procurement team Price 52

Supply Chain Game Changer

JANUARY 5, 2021

The reality however is that such small amounts when multiplied by the quantities of a sku, and further extended across the number of skus, can result in extraordinarily large numbers. A deviation measured to the second or third decimal point, or fraction of a penny, is too small to merit attention. MOQs and Tiered pricing. Spot buying.

Price 82

Price Purchasing Supply Chain Optimization supply chain budgeting 82

Arkestro

OCTOBER 29, 2024

What is suggested pricing, how does automating it work, and how can an advanced machine learning model even further improve buying outcomes for procurement teams? After multiple rounds with a suggested price pulled from Arkestro insights, the procurement team saved $10,000. What Is Suggested Pricing?

Price 52

Price Procurement team Negotiation Suppliers 52

SCMDOJO

OCTOBER 27, 2023

Volume or Quantity Negotiation: This negotiation involves discussing the quantity or volume of goods or services to be procured. This saves time and energy for your procurement team to focus on other strategic elements during a negotiation process. The aim is often to secure volume discounts or advantageous terms.

Supplier negotiation 105

Supplier negotiation Negotiation Suppliers Supply Chain Efficiency 105

Planergy

MARCH 19, 2025

Its about benchmarking so you know your economic order quantity, so you never purchase too much or too little of anything. Tools like PLANERGY allow procurement teams to analyze spending patterns, compare supplier performance , and streamline contract renewalsall key to reducing costs and improving supplier relationships.

Suppliers 52

Suppliers Management supply chain budgeting Supply Chain Efficiency 52

Jaggaer

OCTOBER 24, 2024

Though the introduction of AI into our everyday lives is relatively new, its abilities meet critical needs, enhances efficiencies, and allows procurement professionals to avoid being bogged down by mundane tasks. As AI enhances collaboration between procurement teams and suppliers on inventory, its value extends across the supply chain.

Supply Chain Optimization 52

Supply Chain Optimization Collaboration Suppliers Real-time Visibility 52

Arkestro

SEPTEMBER 29, 2023

Autonomous procurement refers to the use of advanced technologies to streamline and optimize the procurement process. This approach leverages data science, machine learning, and automation to analyze large quantities of data and make procurement decisions with minimal human intervention.

Supply Chain Efficiency 52

Supply Chain Efficiency Innovation Procurement supply chain software solutions 52

Procurify

JULY 20, 2022

According to a report by Ardent Partners , 2022 savings targets for procurement teams is almost 19% lower than the last year. Although cost-saving has been a top priority for a long time, new requirements in procurement are surfacing and bringing challenges with them. Written by: Procurify.

Purchasing 52

Purchasing Management Supply Chain Efficiency supply chain software solutions 52

Arkestro

MAY 16, 2022

35,000 different raw materials and 6,500 suppliers are a lot of balls in the air to manage for this company’s procurement team. Predictive procurement in chemical manufacturing is a crucial component of keeping an eye on all of those balls. . Predictive Procurement Orchestration as a Competitive Strategy.

Raw materials 52

Raw materials Procurement Real-time Visibility supply chain software solutions 52

Planergy

MARCH 18, 2025

Procurement Items like textbooks, computers, cleaning supplies, and food come from vendors. The schools procurement team ensures schools can order the necessary items while maintaining the budget and standards. This process involves multiple moving parts.

supply chain budgeting 52

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

Pipefy

JANUARY 31, 2023

A centralized team operating as a center of excellence is responsible for strategy, knowledge sharing, and supply chain optimization, which in turn empowers those in charge of more tactical and transactional front-line purchasing roles. There are four distinct types of purchase orders: standard, planned, blanket, and contract.

Purchase orders 59

Purchase orders Purchasing Procurement Quantity 59

TYA Suite

JULY 17, 2024

The request for quotation process helps procurement teams gather accurate quotes to compare and select the best supplier. This quote process is critical for ensuring competitive pricing and high-quality procurement. After receiving the quotes, the procurement team must evaluate them against the predefined criteria.

Real-time Visibility 40

Real-time Visibility Quantity Price Negotiation 40

Planergy

AUGUST 11, 2022

Validating Quality and Quantity of Ordered Items When a supplier delivers ordered Goods, it’s assumed that everything is made in good faith and everything is delivered according to the demand has specifications, and passes quality checks. The goods received notes show that everything was tested and worked well.

Import 52

Import Quantity Purchase orders Quality 52

Arkestro

MARCH 13, 2023

Thomas Perkins – Purchasing Manager The Challenge Create a more efficient RFQ process for large-scale mining equipment & identify cost-savings opportunities To power its production, Searles Valley Minerals needs to source a large quantity of equipment such as 6 miles worth of pipe, in addition to valves and fittings.

Bidding 52

Bidding Procurement Buyers Buying process 52

World of Procurement blog

APRIL 23, 2024

Purchase Requisition The next step involves creating and submitting a purchase requisition to the procurement department. This document details the specifics of the requirement, including quantity, specifications, and the intended use. Approval Process Upon receiving the purchase requisition, it undergoes a review and approval process.

Procurement 52

Procurement Purchase orders Needs identification Purchasing 52

World of Procurement blog

APRIL 23, 2024

Purchase Requisition The next step involves creating and submitting a purchase requisition to the procurement department. This document details the specifics of the requirement, including quantity, specifications, and the intended use. Approval Process Upon receiving the purchase requisition, it undergoes a review and approval process.

Procurement 52

Procurement Purchase orders Needs identification Purchasing 52

TYA Suite

AUGUST 16, 2024

This involves understanding what goods and services are required, the quantity needed, and the timeframe for acquisition. Clear identification of needs helps in avoiding unnecessary purchases and ensures that the procurement management process is aligned with organizational goals. Let's explore each step in detail.

Management 40

Management Procurement Supply Chain Efficiency Quantity 40

Procurement Heads

NOVEMBER 15, 2022

That was a blank slate to start with, but it was great that two of the supply chain team immediately became part of the Group Procurement team as buyers, and together we found the first few projects and synergies. So they were really looking at individual factories, so I straight away looked at the savings and synergies here.

Raw materials 130

Raw materials Buyers Price Procurement 130

Pipefy

JANUARY 31, 2023

Non-compliance A company’s purchase policy ensures that only approved purchase requests can be created and submitted to the procurement team. Businesses rely on their procurement team members to strategize, solve problems, and build relationships with their suppliers.

Risk 52

Risk Procurement e2e Purchase orders 52

TYA Suite

APRIL 13, 2025

The PO includes information such as the item name, quantity, price, supplier details, and expected delivery date. Before a purchase order is approved, the finance or procurement team reviews it to make sure everything is correct. They create a purchase order (PO), which is a document that provides details about the purchase.

Purchase orders 40

Purchase orders Purchasing Real-time Visibility Budget 40